{"id":17831,"date":"2021-06-02T10:21:07","date_gmt":"2021-06-02T08:21:07","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17831\/"},"modified":"2021-06-02T10:21:07","modified_gmt":"2021-06-02T08:21:07","slug":"whats-next-for-oil","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/whats-next-for-oil\/","title":{"rendered":"What’s next for oil?"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1898,57
\n(-0,09%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,2201
\n(-0,11%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 34541,50
\n(+3,91%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 67,96
\n(+11,21%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a015564
\n(+2,52%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

On Tuesday, 1 June, WTI crude broke through resistance and hit a new yearly high. Naturally, all eyes immediately turned to black gold. And the questions began. What is it? The beginning of a new trend to the area of $100 per barrel? Or another bull trap, of which there have been many in recent years?<\/p>\n


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

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

Let’s start with the fundamentals. What has changed recently? In principle, nothing has changed. Gradually, developed countries are beating the coronavirus pandemic. But the situation in developing countries is even worse than a year ago. Air travel is also increasing, which means there is a greater demand for aviation fuel. But we all knew that before.
\nHowever, there is a potentially new downward factor in the market. It is the possible removal of restrictions on oil exports from Iran. And that will be the real nail in the coffin of the uptrend.
\nBut then why is the oil price rising? You could put the question another way. Are you sure the price of oil is going up? Let’s just say inflation is rising. Oil simply follows the upward trend in the price of all manufactured goods. At the same time, oil is rising much more slowly than copper, timber, rare metals.
\nCan the price of oil show $100 per barrel in the medium term? Yes it can. But only for one reason – anything is possible in the market. It means that speculators will try to push the price to the sky under a particular futures contract. Who does not believe in it, just recall the events of a year ago when the price of WTI oil reached -37 USD per barrel.<\/p>\n

03.30 Australia’s Q1 GDP
\n08.00 German retail sales for April<\/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 1898,57 (-0,09%) EURUSD\u00a0 \u00a01,2201 (-0,11%) DJIA\u00a0 34541,50 (+3,91%) OIL.WTI\u00a0 67,96 (+11,21%) DAX\u00a0 \u00a015564 (+2,52%) On Tuesday, 1 June, WTI crude broke through resistance and hit a new yearly high….<\/p>\n","protected":false},"author":37,"featured_media":17595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nWhat's next for oil? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"On Tuesday, 1 June, WTI crude broke through resistance and hit a new yearly high.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bernstein-bank.com\/en\/whats-next-for-oil\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What's next for oil? 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