{"id":18113,"date":"2021-09-10T07:29:01","date_gmt":"2021-09-10T05:29:01","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=18113\/"},"modified":"2021-09-10T07:29:01","modified_gmt":"2021-09-10T05:29:01","slug":"its-hot-on-the-oil-market","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/its-hot-on-the-oil-market\/","title":{"rendered":"It&#8217;s hot on the oil market"},"content":{"rendered":"<table cellspacing=\"0\" cellpadding=\"4\">\n<tbody>\n<tr>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">Gold<\/span>\u00a0 1797,875<br \/>\n(<span style=\"color: #008000;\">+0,21%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,1832<br \/>\n(<span style=\"color: #ff0000;\"><span style=\"color: #008000;\">+0,06<\/span><span style=\"color: #003300;\">%<\/span><\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 34987,50<br \/>\n(<span style=\"color: #008000;\">+0,35%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 68,515<br \/>\n(<span style=\"color: #008000;\">+0,91%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 15569,50<br \/>\n(<span style=\"color: #008000;\">+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">While there has been a relative lull in the financial markets, the energy market is in turmoil. Many different factors, both negative and positive, have driven the price sideways. The market is overheated and an exit is imminent, but where to?<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nOIL.WTI<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-18114 aligncenter\" src=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2021\/09\/OIL.WTI_-1.png\" alt=\"OIL.WTI\" width=\"600\" height=\"258\" \/><\/p>\n<p align=\"justify\">As before, buyers are supported by oil supply disruptions in the USA. Due to Hurricane Ida, around 65% of the oil production capacity in the Gulf of Mexico is still not working. Because of this, US inventories will decrease, which will definitely affect the price.<br \/>\nLast Thursday&#8217;s OPEC+ meeting decided to leave the current plan to increase production by 400k bpd intact. It is safe to say that this cautious scenario will have a smooth effect on quotations.<br \/>\nThe news from Iran does not add to the upside. Teheran government did not allow the IAEA representatives to the nuclear facilities and practically derailed the deal on nuclear programme. This implies that oil traders should not expect Iranian oil in the markets any time soon.<br \/>\nAll factors seem to be shaping up to suggest that oil should go up in price, which locally it is doing now. But on Thursday, some very interesting news came out of China. The Middle Kingdom has started selling oil from its reserves. The interesting thing about this news is that last year the Chinese were very active in filling their reserves with oil when prices were collapsing and there was a total lockdown in Europe and the US. Now China thinks oil prices are high and worth selling.<br \/>\nAs China is one of the most important oil importers, it is worth listening to this opinion carefully. The statement will not have an immediate impact on the markets, but it could be a strong enough factor to start the decline.<\/p>\n<p align=\"justify\">8.00 Germany&#8217;s harmonised consumer price index at the start of the year<br \/>\n8.00 UK Monthly GDP<br \/>\n14.30 ECB press conference on monetary policy<\/p>\n<hr \/>\n<p style=\"text-align: center;\" align=\"justify\">Important Notes on This Publication:<small> <\/small><\/p>\n<p align=\"justify\"><small>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":"<p>Gold\u00a0 1797,875 (+0,21%) EURUSD\u00a0 \u00a01,1832 (+0,06%) DJIA\u00a0 34987,50 (+0,35%) OIL.WTI\u00a0 68,515 (+0,91%) DAX\u00a0 15569,50 (+0,01%) While there has been a relative lull in the financial markets, the energy market is&#8230;<\/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-18113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>It&#039;s hot on the oil market | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"While there has been a relative lull in the 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