Decentralized Oil Trading (WTI)

Decentralized Oil Trading (WTI). Discover the benefits of decentralized trading, technical analysis for WTI and direct access to the trading platform.

Decentralized oil trading allows trading the WTI without a broker, keeping complete control over your money.

What are the benefits of decentralized oil trading (WTI)?

Decentralized oil trading, particularly with West Texas Intermediate (WTI), offers several benefits:

1. Increased Transparency:

   Decentralized platforms often use blockchain technology, providing a transparent and immutable ledger of all transactions. This transparency helps reduce fraud and ensures all participants have access to the same information.

2. Reduced Intermediaries:

   By eliminating intermediaries such as brokers or banks, decentralized trading can reduce transaction costs and increase the efficiency of trading processes. This can lead to better pricing for traders.

3. Enhanced Security:

   Blockchain technology used in decentralized trading platforms provides a high level of security. Transactions are encrypted and decentralized, making it difficult for hackers to alter the data or steal information.

4. Accessibility:

   Decentralized trading platforms can be accessed globally, allowing participants from different regions to trade oil without the need for a centralized authority or compliance with specific regional regulations. This can increase market participation and liquidity.

5. Faster Settlement Times:

   Traditional oil trading can involve lengthy settlement periods. Decentralized trading platforms can significantly speed up the settlement process, as transactions can be executed and verified almost in real time.

6. Reduced Market Manipulation:

   The transparency and decentralized nature of these platforms make it harder for single entities to manipulate the market. All transactions are visible on the blockchain, which can deter manipulative practices.

7. Improved Efficiency:

   Smart contracts can automate various aspects of trading, such as the execution of trades, settlement, and compliance checks. This automation reduces the need for manual intervention and speeds up the trading process.

8. Cost-Effectiveness:

   By cutting out intermediaries and reducing the need for extensive paperwork and manual processes, decentralized trading can lower the overall costs associated with trading oil.

9. Anonymity and Privacy:

   Decentralized platform trading can offer greater privacy and anonymity for traders who prefer to keep their trading activities discreet. This can attract participants who are concerned about privacy.

10. Global Market Access:

    Decentralized platforms are often accessible from anywhere in the world, providing opportunities for investors and traders from different regions to participate in the oil market without the constraints of local regulations or market access issues.

Overall, decentralized oil trading can bring about a more transparent, efficient, and secure market environment, benefiting traders and the market as a whole.

Decentralized Oil Trading (WTI) – technical analysis

WTI – The current situation:

The current situation for West Texas Intermediate (WTI) crude oil has seen a significant rebound in recent weeks. The price per barrel has increased by 14% to reach a two-month high of $83. This upward trend is supported by ongoing tensions in the Middle East, including the risk of escalated conflict between Israel and the Lebanese Hezbollah, an ally of Hamas. Additionally, the early and intense start of the hurricane season in the United States and the Caribbean raises concerns about potential impacts on production and refining facilities in the Gulf of Mexico.

As of now, the current price for WTI crude oil is approximately $83 per barrel. Over the past three months, the price has seen a slight increase of 0.05%, with a more significant rise of 11.50% since the beginning of the year.

Let’s delve into the technical analysis:

The chart indicates that we are slightly above the midpoint of the range formed in February 2024, from which we have not deviated.

Within this range, there is a pivot price around $80.30. This price roughly sits in the middle of the range, with support at $72.80 and resistance at $87.60.

The 20-day moving average (MM20) in green is starting to cross above the 50-day moving average (MM50) in red, signaling a short-term bullish trend.

Looking ahead to regain a bullish stance:

To become bullish again, it’s crucial to move back above the $80 zone with substantial volume. While we are currently within this price range, we need to assess whether it solidifies as strong support.

Key price levels to monitor:

Upside targets: $83.40, $86, $87.60

Downside levels: $82, $80, $78

These price levels will be critical in determining future market movements.

Future projections:

We can anticipate a slight decline in WTI futures contracts for the coming months. For instance, July 2024 contracts may trade around $81, while December 2024 contracts could be at $77. This downward trend might persist until December 2025, with a projected price of $72.75 per barrel.

For the summer of 2024, WTI crude oil’s trend will depend on several factors:

Geopolitical conflicts: Tensions in the Middle East, especially between Israel and Lebanese Hezbollah, can influence oil prices. Any significant developments in this region could lead to fluctuations.

Hurricane season: As mentioned earlier, the early and intense hurricane season in the US and the Caribbean may impact production and refining, affecting prices.

Global demand: Post-pandemic economic recovery will also play a role. If global oil demand continues to rise, it could support prices.

Keep in mind that oil markets are often volatile and react swiftly to events. Staying informed about news and developments is essential for assessing short-term trends

Direct access to trading