Saxo Group Videos

Hansen: Oil slips lower while gold looks to FOMC

The strong dollar is again to blame for another bad week for commodities. The spot price for WTI has reached a five-week low as US inventories and production are still rising. Saxo's Ole Hansen says the weakness in WTI is expanding the spread to brent.

The brent supply, meanwhile, has appeared to normalise over the last few months. But, warns Ole, there is a threat looming. If sanctions against Iran are lifted, the country could increase its exports by one million barrels a day, pulling down the price. Hansen's advice in trading crude is to sell on rallies.

Gold has witnessed the largest number of consecutive days of losses in 42 years. But, says Hansen, it could be much worse given the strength of the dollar. All eyes are on next week's FOMC meeting.

03:10 minutes
Tags: brent, brent crude, brent geo-political, brent oil, brent price, brent spread, brent wti, brent wti spread, commodities, commodities gold, commodities markets, commodities prices, commodities supply, commodities trading, commodity, commodity index, commodity investing, commodity investments, commodity market, commodity markets, commodity outlook, commodity prices, commodity strategy, commodity trade, commodity trading, commoditymarket, crude, crude oil, crude oil price, crude oil prices, crude price, crude prices, crude spread, crudeoil, gold, gold buy, gold buying, gold commodity, gold demand, gold dollar, gold exchange, gold future, gold investing, gold investment, gold predictions, gold price, gold spot, gold support, gold trade, gold trading, goldprice, oil, oil and gas, oil commodities, oil company, oil demand, oil drop, oil industry, oil inventories, oil market, oil markets, oil news, oil price, oil prices, oil production, oil range, oil refinery, oil spread, oil stockpiles, oil stocks, oil supplies, oil supply, oil trading, oil wealth, oilsupply, saxo, saxo bank, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxotv, spot, trade idea, trader, trading, tradingfloor, tradingfloor.com, wti, wti and oil, wti brent, wti brent spread, wti crude, wti crude oil, wti price, wti russia, wti supply, wti vs brent, wticrude

Switch to