In this episode of CMC Markets Trend Tracker, we delve into the latest developments in the oil market and their implications for traders. Recent oil price fluctuations are influenced by geopolitical tensions, but not directly related to Israel and Palestine conflict. However, if the conflict expands to involve other regional players, like Iran, it could have a significant impact. Additionally, ongoing negotiations between the US, Saudi Arabia and Israel face uncertainty. We also analyse the charts for WTI Crude and Brent Crude to assess their current technical outlook.
Note: This video was recorded on 11/10/2023. Past performance is not an indicator of future performance.
Links and resources:
- How to Trade Oil: https://www.cmcmarkets.com/en-au/trad...
- Crude Oil Brent: https://www.cmcmarkets.com/en-au/top-...
- Crude Oil West Texas: https://www.cmcmarkets.com/en/top-ins...
