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How to make money on oil? Trading ideas for traders 09/22/2020: On the factors of oil decline!


Brent crude during the trading session on Monday fell 2.8%, closing the day at $ 41.70 per barrel. The sell-off of hydrocarbons intensified amid a general flight of investors from the risk, provoked by the collapse of the stock markets.






К снижению нефти также привели сообщения о росте нефтедобычи в Ливии. Ливийская национальная нефтяная компания NOC возобновила производство нефти на востоке страны после того, как в выходные признанное ООН правительство в Триполи и глава повстанческой группировки «Ливийская национальная армия» Халиф Хафтар заключили соглашение о мире. Ранее Хафтар блокировал добычу в течение 8 месяцев. Как сообщили ливийские источники Wall Street Journal, с четверга нефтедобыча в этой стране должна возрасти на 220 тыс. баррелей в день. Напомним, что согласно данным Международного энергетического агентства (IEA), в 2019 году объем нефтедобычи в Ливии превысил 1 млн. баррелей в день. Однако, в последние месяцы вооруженные группировки блокировали месторождения, а в ряде случаев вывели из строя нефтедобывающие мощности. В августе объем производства нефти составил всего 100 тыс. баррелей в день.


The strengthening of the dollar also contributed to the decline in oil prices. The influence of the American currency on hydrocarbon quotes is due to the fact that the cost of all commodities is calculated in US dollars, therefore, an increase in the USD exchange rate makes them less accessible to holders of other currencies. The DXY dollar index rose 0.7% on Monday.

On the side of oil sellers, concerns remain about the prospects for global economic growth, as well as the demand for raw materials. Market participants drew attention to the deterioration of the situation with the coronavirus after reports of the likely introduction of repeated restrictive measures in England due to an almost record increase in cases per day. A similar situation is observed in a number of other European countries. Considering the above, the decline in oil may continue.



Brent SellStop 41.20 TP 39.5 SL 41.70


Analytical reviews and comments to them reflect the subjective opinion of the authors and are not a recommendation for trading. Author Artem Deev is a trader analyst at  AMarkets . Forex social network is not responsible for possible losses in case of using the review materials



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