Oil inventories are still close to all time highs in major worldwide hubs

Despite recovering demand, oil inventories are still close to all time highs in major worldwide hubs

Source: Fujairah Energy Data Commitee

Source:Petroleum Association of Japan

Source: Reuters

Source: Reuters

 

#Covid-19 might not be as bad as you think for oil demand

‘Back to life’ will probably mean social distancing for a while. A new normal where people do old things in different ways. In China one of the most important change is that people are switching from public transport (bus, metro) to private cars and the reason is that the risk of infection.

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This is what happened in China during the SARS travel lockdown which was in place for all of 2003 and 2004.

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History doesn’t repeat itself but it often rhymes.

#WTI TWITTER SENTIMENT Positive tweets percentage: 7.526881720430108 % Negative tweets percentage: 76.34408602150538 % 12-24-2019 #USOIL #CRUDE #WIT #OOTT

Positive tweets percentage: 7.526881720430108 %
Negative tweets percentage: 76.34408602150538 %

Positive tweets:
RT @curtmelonopoly: EPIC v3 software sliced the top ticks there for a settlement snipe short(quoted in FX USOIL WTI traded on CL) Still ha…
EPIC v3 software sliced the top ticks there for a settlement snipe short (quoted in FX USOILWTI traded on CL) Stil… https://t.co/ag2hOFp4e5
RT @rakz_27: Quick levels for #WTI
Immediate resistance :- 60.457 (2018 high)
Immediate support :- 60.233
Targets below :- 59.75, 59, 58.2…
Quick levels for #WTI
Immediate resistance :- 60.457 (2018 high)
Immediate support :- 60.233
Targets below :- 59.7… https://t.co/7LgqgeMYBQ
WTI Crude Oil | $USOIL | $WTICO $USD

EXCELLENT Risk to Reward Short for USOil

Long or short it on WCX:… https://t.co/jvw7ggJQ7h
Breaking the 57.70/57.40 belt would confirm the major down (new C) that would then project 54.50 – and if that’s br… https://t.co/zkbgeOLCzk
EPIC v3 Oil Trading Software hasn’t lost a trade in many weeks, if i was shittin’ ya, u gotta know people would be… https://t.co/RcKIPfKSjF

Negative tweets:
WTI Crude Oil | $USOIL | $WTICO $USD

USOIL / WTICOUSD – My View

Long or short it on WCX: https://t.co/537ZDab8x2 https://t.co/P0N0fAy7fD
WTI Crude Oil | $USOIL | $WTICO $USD

My view on USOIL

Long or short it on WCX: https://t.co/537ZDab8x2 https://t.co/EB9obHwiV3
WTI crude oil inches higher as OPEC supply cuts and lower output forecast support bullishness. How to trade #USOIL… https://t.co/3RENRhwUFv
WTI crude oil is trading bullish over analysts’ expectations for a drawdown in US crude inventories for the previou… https://t.co/Z7folg42Tf
WTI Crude Oil | $USOIL | $WTICO $USD

USOIL: short term top is forming

Long or short it on WCX:… https://t.co/Z0aWEWLffY
WTI Crude Oil | $USOIL | $WTICO $USD

2019.12.24. Crude Oil Short

Long or short it on WCX: https://t.co/537ZDab8x2 https://t.co/t8KgdREWDv
WTI Crude Oil | $USOIL | $WTICO $USD

oil short view

Long or short it on WCX: https://t.co/1dfA8mH18T https://t.co/OsRcOrSV7I
WTI Crude Oil | $USOIL | $WTICO $USD

This weeks Plan on Wti

Long or short it on WCX: https://t.co/1dfA8mH18T https://t.co/Ui0LzTfpAr
WTI Crude Oil | $USOIL | $WTICO $USD

Hit the daily R

Long or short it on WCX: https://t.co/9NtU0HStGD https://t.co/W0pGouLPFn
RT @oil_trades: Actually, I’ve changed my mind. Selling the second half here at 60.64. Let’s lock it all in.

crudeoil #CL #crude #CL_…

WTI Twitter Sentiment 12-22-2019 #WTI #OIL #OOTT #USOIL

Positive tweets percentage: 14 %

Negative tweets percentage: 20 %

Positive tweets:

RT @mpondfield: “If #SaudiArabia’s allies fail to stick to their promised cuts, the kingdom will have a choice: slash its own #production f… @DaddyBear_WTI It will be nice if you can give me some tutorials on some of the indicators and other factories play… https://t.co/UwH2kf96td RT @DaddyBear_WTI: #OIL #OOTT #WTI The DTL is well-known among oil traders without a doubt but it does not necessarily translate to a “nice… #OIL #OOTT #WTI [H4] While the pullback was incomplete as of Friday close, the remaining price action will be medio… https://t.co/GnNUv78iUM @DaddyBear_WTI Hoping… I’ll be watching like a hawk in about 4 more hours… lol. RT @Ole_S_Hansen: Speculators bought #WTI and #Brent #crudeoil for a second week to Dec 17. The combined net long rose 68k lots to 671k lot… #OIL #OOTT #WTI Hmm… Is there any rationale that a nice pullback would occur Monday? https://t.co/bQc8VLGPxp RT @DhanrajNathwani: Came across this amazing video showcasing two bears at #BBRC named after Mithali Raj & #Dhoni. They seem to be enjoyin… RT @aeberman12: Please see my new post: This Oil-Price Rally Won’t Last https://t.co/oMepvEgyZR #OOTT #oilandgas #oil #WTI #CrudeOil #fint… The World Is Days Away From Booking the Best Asset Returns in a Decade A selection of asset performances in 2019 t… https://t.co/Q4gOwKzScm

Negative tweets:

WTI Crude Oil | $USOIL | $WTICO $USD What goes up must come down Long or short it on WCX: https://t.co/1dfA8mH18T https://t.co/3qKvvjMNDR @gmtyas @MissingFoxy To correct you, crude oils are measured by API gravity. API of 10 is ~ same as water. Bakken l… https://t.co/Jv2nfljQy4 @DaddyBear_WTI The pull back I think is not completely done yet. Crude still in this larger sideways range. #WTI #CL_F https://t.co/KxV1FIBO3W 6-month #WTI backwardation still about half that of #Brent. A function of #opec supply cuts, new global offshore pr… https://t.co/VqB2dQaDlc #OIL #OOTT #WTI If you’re looking for a repeat of Friday’s price action, you’re likely to be disappointed. I’d gue… https://t.co/gZu4kmhipi @Phoenix4Capital @DaddyBear_WTI Wednesday GLOBEX is closed – xMas ons gold makes a correction in the monthly chart. still inside a long trend #fx #forex #forexsignals #fxsinyal… https://t.co/U7hHDCXhnv Site ID: FRIDGEMONITOR System Temperature: 68F System Power (Day Average): 189 watts Updated via WTI RESTful API – 12/22/2019 12:46:43 PM @DaddyBear_WTI I hardly beleive it is possible on Monday, but later, say, Wednesday might surprise. However, some p… https://t.co/kLlHsbjWfx