{"id":17135,"date":"2020-11-26T07:20:00","date_gmt":"2020-11-26T06:20:00","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17135\/"},"modified":"2020-11-26T07:20:00","modified_gmt":"2020-11-26T06:20:00","slug":"oil-has-gone-up-sharply","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/oil-has-gone-up-sharply\/","title":{"rendered":"Oil has gone up sharply"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1809,42
\n(-0,09%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1929
\n(+0,47%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 29874,50
\n(+0,09%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 45,91
\n(+5,61%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a013295,90
\n(+0,37%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

Only a couple of days ago we drew the attention of our subscribers to the fact that oil is ready for a sharp movement. And this movement has already happened. Moreover, Brent oil is rapidly approaching $50 per barrel. Its breakthrough can further accelerate the upward momentum.<\/p>\n

WTI<\/strong><\/p>\n

\"WTI\"<\/p>\n

The price cannot stand in the range forever, which lasted for six months. Finally, the corridor is broken through upwards. Black gold is rising in price amid growing optimism that the recent breakthrough with the Covid-19 vaccine will lead to a rapid recovery in global energy demand as early as next year.<\/p>\n


\nWhat is the problem then?<\/strong><\/p>\n

The problem is that all this could be a huge bull trap. Nowadays, oil purchases by speculators are based on emotions. As you know, most of the time speculators are wrong. And the market punishes them over and over again. The very strong punishment will be not just to return the price of oil to the previous range, but to break through its lower limit, with a further drop to $30 per barrel.
\nWhat are the prerequisites for this? Actually, there are a lot of them, here are just a few:
\n– Continued growth of oil product inventories in the USA
\n– The global economies are slowing down due to the coronavirus pandemic right now, which is dramatically reducing demand for oil.
\n– Absolute uncertainty in connection with the next OPEC meeting
\n– Risks to the oil price in the face of potential sanctions lifting from Iran
\n– And of course, an increase in oil supplies in excess of agreed quotas by OPEC+ countries, amid growing problems with their budgets.
\nIf 2-3 points from the list above coincide at the beginning of 2021, the price of oil will drop significantly. And if 4-5 coincide, it will be the ‘perfect storm’ for the black gold market.<\/p>\n


\nWhat awaits us today?<\/strong><\/p>\n

08.00 Consumer confidence index from Gfk in Germany for December
\n13.30 Report of the ECB Monetary Policy Meeting<\/p>\n

\n

Important Notes on This Publication: <\/small><\/p>\n

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold\u00a0 1809,42 (-0,09%) EURUSD\u00a0 \u00a01,1929 (+0,47%) DJIA\u00a0 29874,50 (+0,09%) OIL.WTI\u00a0 45,91 (+5,61%) DAX\u00a0 \u00a013295,90 (+0,37%) Only a couple of days ago we drew the attention of our subscribers to the…<\/p>\n","protected":false},"author":37,"featured_media":13158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nOil has gone up sharply | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Only a couple of days ago we drew the attention of our subscribers to the fact that oil is ready for a sharp movement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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