2022/03/30 (024) Technical Analysis – UKOIL

Gas To Pay Only In Rubles – Bluff By Putin?
Russia Ukraine War Continues To Cause Uncertainty!
Brent Crude Market Price Actions Rebounds From 2 Day Selloff.


Gas Only In Rubles – Bluff By Putin?

Was Putin just bluffing by demanding Russian gas be paid in rubles only? In any case, the Kremlin announced today that there will be a transition in payment in rubles. Was Putin just bluffing by demanding Russian gas be paid in rubles only? Anyway, the Kremlin announced today that there will be a transition in payment in rubles (how long will this transition be?). Does this show Putin’s weakness? Maybe – but there should be a technical reason why he doesn’t impose a delivery freeze immediately if “unfriendly” states don’t pay in rubles: he’s sitting on his gas! Because the infrastructure of large parts of Russian gas production is geared towards transport to the West – the gas cannot be “just” diverted to China, for example.

Oil Market Price Action – 100 USD Mark Serves As Springboard For Further Upward Wave

Oil prices have been significantly firmer again in recent weeks. In view of the escalating Russia-Ukraine conflict, many market participants are anticipating further supply bottlenecks, while demand for fuel and kerosene continues to rise as international air and travel traffic recovers. The fact that pullbacks around the USD 100 mark were recently answered with purchases speaks in our opinion for a continuation of the overriding upward movement for Brent Crude Oil.

Our Trading Capability Thus Took Off Faster Than Excepted

On Tuesday, the 15th February, in the 3rd Edition, of our DEVISE 2 DAY Affiliate Financial Market Online Newsletter, i formulated a trading capability in the UKOIL – incl. with an entry price (93 USD), target price (130 USD) and or stop price (84 USD). In this case, UKOIL reached our target price. Everything i wrote was and or everything i`m still writing is no an investment recommendations. But, in the truest sense of the word, a trading capability for self-deciders. All my readers decide for themselves whether to trade something or not – regardless of my opinion. Because my DEVISE 2 DAY Affiliate Financial Market Online Newsletter is 100% commercially with 100% the best of my knowledge and beliefs. I always encouraging you to get better informed – to stay even 100% informative. So that you can better decide for yourself (not) act – buy/sell whatever you want.

The Russia Ukraine War Continues To Cause Uncertainty

The Russia-Ukraine conflict continues to determine events on the futures markets. So far, Russia has fully complied with the existing oil supply agreements with the EU countries. It remains questionable whether the delivery agreements will also be adhered to in the long term after the most recent sanctions by the international community. Since Russia is one of the world’s leading oil producers, the US Energy Information Administration (EIA) believes that a loss of Russian oil exports would be difficult to compensate for, which is why the EIA assumes that the oil supply will continue to fall in the short term. After the OPEC+ community recently signaled that oil production would only increase by 400,000 barrels per month, as before, the situation on the supply side is unlikely to improve, at least in the short term. The United Arab Emirates had recently campaigned for a significant increase in OPEC oil production. However, the other OPEC members had rejected this request. Saudi Arabia, the largest OPEC producer, denied any responsibility for the recent rise in oil prices in a recently published statement and stated that no further increases in oil production are currently planned.

Oil Demand Is Likely To Weaken Somewhat In The Short Term

At least on the demand side, the situation on the futures markets should improve somewhat in the short term. After Chinese government recently imposed far-reaching lockdown measures to contain the coronavirus pandemic in some Chinese metropolises, some analyst firms such as Goldman Sachs and JPMorgan believe China is likely to reduce its oil imports in the coming months. However, as demand for fuel and kerosene continues to rise due to increasing air and travel traffic, the oil bulls should continue to have the better cards. In our opinion, the most recent price action at Brent Crude Oil underpins this assessment, especially since setbacks in the area of the 100 USD mark were recently answered with purchases.

Use The Psychologically Important Price Action Area At 100 USD As A Trading Capability

Even though I formulated our current possibility at $112. I think it’s more profitable for traders and investors to go long than short. For now, I’m basically neutral on prices below $100. Because I then assume that the Urkaine conflict has been priced out for the time being. Although no financial market happened shortly before the outbreak of war, in February. So that we can assume, if we want to, that the rising oil price is mainly due to the fiscal policy of the left-liberal states in our so-called West. And on your verbal-political green agenda, which sends us taxpayers and consumers back to a green Soviet Union, green Yugoslavia, and or green GDR. In other words, in an (un)intentionally state-organized shortage economy. That`s why basicly above 100 USD rather long as neutral or short. And rather neutral under 100 USD…Brent Crude Rebounds From 2 Day Selloff

Brent crude futures rose more than 3% to around 114 USD per barrel on Wednesday, after losing more than 8% over the previous two sessions, as investors were monitoring the situation in Ukraine and global supplies remain tight despite weakening demand from China. Major oil producers will meet to discuss their supply policy for May and the group has signaled it will stick to its existing plan and ratify an increase of 432,000 bpd in output despite crude flow disruptions due to Russia’s war in Ukraine. On the data front, the latest EIA report showed US crude oil inventories fell by 3.449 million barrels in the week ended March 25th, the most in seven weeks and triple the decline expected by analysts. The benchmark Brent crude is set for a fourth consecutive month of gains, after reaching the highest since 2008 at near $140 per barrel on March 7th, as demand recovery from the coronavirus pandemic gathered pace while the war in Europe squeezed the already tight market.