Brent crude is due to continue rising during the summer

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CFDs di Minyak Mentah (Brent) (FX:UKOIL)

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FX:UKOIL CFDs di Minyak Mentah (Brent)

ukoil oil oilprice oversupply demandzone augusd xau_usd wti

UKOIL Brent crude is due to continue rising during the summer at least up to $55-60. High gasoline/petrol during the warmest season of the year is already taking place. Oversupply is not lasting long for a finite commodity specially in an increasing more volatile and unstable world where plenty of conflicts accross the globe are arising. We shall never unfortunately see again $30 a barrel prices, is more likely to keep going up to a minimum of $80 UKOIL in the next couple of years.

Pivot point at $45 and for WTIOIL the same applies. Bear in mind that is interesting to keep on eye on AUGUSD and XAUUSD prices as well as 2016 is becoming the year for commodities

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