The data that is being released today is really not something that we should be overly excited about. But there are some reasons to be a little bit more optimistic.
When the cartel decision was announced, many analysts speculated that prices were going to go up. But that was before the outcome of the meeting. Now, with higher prices from OPEC, it is very possible that prices will go up even more.
It is expected that OPEC would be the one to decide on oil prices. We all know that when the cartel decides something, there is a lot of talk and rumors spread around. There could be many changes made in the oil futures markets at the same time.
The cartel decision can actually make prices move up. They could decide to add new contracts or a lot of them at the same time. They could also decide to remove a lot of contracts at the same time.
It is quite possible that there are many different agreements being made at the same time. This would affect the short term and long term positions that many people have for oil futures.
Traders should keep in mind that in order to get the best deals they have to put themselves in the right position. If they are watching the news about the cartel decision, they need to know what is going on at the same time in the market.
Traders should look for news as soon as it comes out in the early morning hours. It would be more effective to watch the headlines instead of the news from OPEC. The news from OPEC can be a little bit more confusing than the headlines.
While the cartel decision will make prices increase for the oil futures contract, they will probably stay relatively the same. They can’t really take away enough oil to affect the price. Many companies are too big to get caught with their pants down like that.
The cartel decision was announced right before the election. So all of the political baggage came out right after the election.
When oil futures were introduced in the late nineteen fifties, the political campaign season wasn’t on the horizon. Everyone was concerned about how the economy was doing. The political campaign never came into play until later.
Now, that political campaigning is a big part of the world, oil futures must be carefully monitored so that everyone has real-time data. The cartel decision should be watched closely so that there are no surprises at the end of the day. A lot of political rhetoric just makes the markets nervous.
Overall, it seems like the Brent Crude Oil futures contract may rise slightly on the OPEC decision. It seems that there is going to be a lot of uncertainty during the last couple weeks of the OPEC meeting. This means that there will probably be lots of movement in the futures market at the same time.