I recently posted my 300th article at EarnForex.com. It was a piece about oil futures titled “Oil Futures Rise as Investors Comb Through Data, Weigh Geopolitical Risks.”
Here is an excerpt:
Amid new industry data and growing geopolitical risks, oil prices traded in and out of positive territory midweek. With North Korea acting belligerently towards the West and concerns that global crude supplies are not shrinking, oil futures are shifting from green to red – and vice versa –throughout the trading session.
September West Texas Intermediate (WTI) futures rose $0.15, or 0.31%, to $49.32 per barrel at 16:41 GMT on Wednesday on the New York Mercantile Exchange. US crude has been trading around the $49 mark for the past week, though oil prices have been surging for the past three weeks.
Brent, the international benchmark for oil prices, is rallying in the middle of the trading week. October Brent crude futures climbed $0.30, or 0.58%, to $52.44 a barrel on London’s ICE Futures exchange.
According to the US Energy Information Administration (EIA), US crude stockpiles declined by 6.5 million barrels to 1.15 billion barrels in the week ending August 4. US oil production jumped by 15,000 barrels per day (bpd) to around 9.3 million bpd. Gasoline stocks increased 3.4 million barrels to 231 million barrels, while distillate stockpiles tumbled by 1.7 million barrels.
When you sit in front of a computer, writing Monday to Friday, from 8 a.m. to 4 p.m. (sometimes evenings, too) life goes by pretty fast. It’s oftentimes scary.