About The Author

Phil Flynn

Phil Flynn is writer of The Energy Report, a daily market commentary discussing oil, the Middle East, American government, economics, and their effects on the world's energies markets, as well as other commodity markets. Contact Mr. Flynn at (888) 264-5665

[Carl Surran, SA News]

Crude oil prices jumped suddenly in late-morning trading in New York, with both international and U.S. benchmarks spiking: WTI now +1.5% to $62.15/bbl after surging as much as 2%, Brent +1.2% to $65.87/bbl.

Traders are not yet certain what drove the sudden gains, although some attribute the move to technical trading that saw WTI rise above $62 intraday for the first time since Monday.

The market went “from low volatility to wow,” says Phil Flynn, senior market analyst at Price Futures Group, with no specific piece of fundamental news driving the move and adding that “when oil went higher on the week, prices exploded.”

https://seekingalpha.com/news/3339955-crude-oil-suddenly-spikes-62-reason-uncertain

 

Questions? Ask Phil Flynn today at 312-264-4364         A Subsidiary of Price Holdings, Inc. – a Diversified Financial Services Firm. Member NIBA, NFA Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The Price Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author. Trading in futures contracts, options on futures contracts, and forward contracts is not suitable for all investors and involves substantial risks. ©2018
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