Crude Oil (CL1) 5 Day Up Streak Broken

Crude Oil Daily Price Recap

Crude Oil’s 5 day positive streak has officially concluded, as the candle from the day prior closed down 2.32% ($0.57). Relative to other instruments in the energy commodity asset class, Crude Oil ranked 2nd since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Crude Oil.

Crude Oil Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 10 days Crude Oil’s price has gone up 7 them.

Overheard on Twitter

Behold! Here are the top tweets related to Crude Oil:

  • From Mr_kunlecole:

    Brent crude oil which is Nigerian crude is $34 today just a day after lockdown was lifted ,no one is saying anything about oil being worthless but when it dropped people kept making stupid jokes. It is sad that people love bad news, no media outlet is talking of the good news

  • From ChuksThomas3WG:

    @dino_melaye I’m glad you recognized this sir. Nigerians have suffered so much in the hands of you and every other political class. Imagine, the govt sold crude oil for 64 years and they can’t even feed Nigerians for 1 month. Plus, where have all the Abacha loot gone? Re-looted I guess #Shame

  • From GauravPandhi:

    India is the only country in the world where Govt is increasing price of Petrol & Diesel despite Crude Oil at historic low. Even a debt ridden country like Pakistan has reduced prices for its people.BJP’s sole agenda is to LOOT the people of India!#गद्दार_मोदी_लुटेरा_है

In terms of news links for Crude Oil here’s one to try:

Crude oil prices surge higher, Brent crude nears $30 per barrel  |

Published on By Nigerian Based market research organisation, SBM Intelligence published a list of industries that will be positively and negatively impacted by the Covid-19 pandemic….A chart of the risks to various industries is presented below:   Nigerian Industries Exposure to Covid-19 What this means: As the Nigerian economy continues to reel from the impact of the economic lockdowns, businesses across the country are jostling to limit their financial and business exposures….“Some companies (banks) have already begun to slash their CAPEX and will most likely cut dividend payouts in 2020.” Published on By Between 2018 and 2019, quoted Nigerian banks paid out a total of N538.1 billion as dividends to their shareholders….These are all familiar names, including the tier-1 banks – FBN Holdings Plc, United Bank for Africa Plc, Guaranty Trust Bank Plc, Access Bank Plc, and Zenith Bank Plc….(READ THIS: Nigeria gets $3.4 billion disbursement from IMF, interest rate 1%) A brief comparison of the total dividends paid by the banks in 2018 and 2019 showed that Zenith Bank doled out the highest amounts of N86.3 billion and N87.9 billion….The dividend payouts by the other banks can be seen below.