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Traders await Saudi Aramco's report

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Yesterday, the call - put ratio entered positive territory for the first time in 2018, indicating that traders are pushing for bets to rise further in the price of oil instead of starting down again.

Now investors and traders will follow a few key points that will drive the price of oil:

  • The new Saudi Aramco report on damage assessment of oil and gas infrastructure and equipment is forthcoming. The longer the equipment and machinery are switched off, the more prices will go up. Currently, estimates of full capacity recovery vary from the end of the month to several months.
  • Trump's next reaction. Following his statement yesterday that the United States is on alert, it has exacerbated the risk of widespread conflict in the Middle East. Still, Trump tends to avoid war. However, he is aware that sometimes conflicts are inevitable.

Graphs: Used with permission of Bloomberg Finance L.P.


 Trader Martin Nikolov

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