European retail investors focus on Crude Oil amid Middle East tensions
London, October 15, 2024, (Oilandgaspress) ––– Data reveals: European retail investors focus on Crude Oil amid Middle East tensions
• Spectrum Markets’ monthly SERIX data reveals a bullish sentiment towards both major crude oil indices last month, with WTI at 111 and Brent at 108
• Geopolitical tensions in the Middle East, along with supply concerns, have led to a steady increase in sentiment related to crude oil since June 2024
• Spectrum saw 36.9% of trades in September 2024 take place outside traditional European market hours, reflecting ongoing demand for 24/5 trading
Spectrum Markets (“Spectrum”), the pan-European trading venue designed for retail investors, has published its SERIX sentiment data for European retail investors for September, revealing a positive shift towards both major crude oil indices: WTI and Brent, at 111 and 108 respectively.
What stands out in September is the steady continuation of the upward trend in crude oil SERIX sentiment that began in June 2024, coinciding with escalating tensions in the Middle East. This trend seems to be driven by geopolitical instability, fueling market anxiety about supply shortages and associated price increases.
Market opinion
“Retail investor sentiment is showing a clear upward trend in line with rising oil prices. Geopolitical instability in the Middle East has undoubtedly played a significant role, fuelling concerns about potential supply disruptions, which have been reflected in the bullish outlook for crude oil,” says Michael Hall, Head of Distribution at Spectrum Markets.
“The steady rise in SERIX values for both WTI and Brent highlights a shift in sentiment, as investors look to oil as a key asset amid broader market uncertainties. With the energy market continuing to experience volatility, we expect this interest in crude oil to persist,” Hall concludes.
Spectrum’s September data
The SERIX value indicates retail investor sentiment, with a number above 100 marking bullish sentiment, and a number below 100 indicating bearish sentiment. (See below for more information on the methodology).
In September 2024, order book turnover on Spectrum was €242.4 million, with 36.9% of trades taking place outside of traditional hours (i.e., between 17:30 and 9:00 CET).
The order book turnover was distributed among various underlying assets as follows: 78.1% on indices, 3.5% on currency pairs, 11.9% on commodities, 3.4% on equities and 3.1% on cryptocurrencies. The top three traded underlying markets were NASDAQ 100 (27.8%), DAX 40 (24.8%), and DOW 30 (13.4%).
Looking at the SERIX data for the top three underlying markets, the NASDAQ 100 shifted from neutral to a bullish 101, while both the DOW 30 and DAX 40 remained bearish at 98.
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