[David Gaffen, Reuters] Oil slid about 3 percent from a two-month high on Tuesday as major world oil producers kept pumping out supply, worrying investors that several weeks of steady gains had pushed the rally too far, too fast. Selling picked up in the late morning as oil broke below Monday’s lows, and with more […]Continue Reading →
[George Orwel, DTN Energy Reporter] New York Mercantile Exchange spot-month oil futures moved lower Tuesday morning amid profit-taking with the West Texas Intermediate crude contract and Brent on the IntercontinentalExchange off fresh two-month highs, while ULSD futures eased off a better than five-month high on the first day of trade for the month of August. […]Continue Reading →
General Comments: Cotton was slightly higher in consolidation trading. The market was waiting to see the crop condition and also is looking for more demand news. Futures have been trying to move above some important resistance areas on the charts, but are still stalled just short of the goal. Weather forecasts call for […]
The information highway is giving us information again. With Apple earnings and more earnings we have several reports today starting with Personal Income at 7:30 A.M., Construction Spending and ISM Manufacturing Index at 9:00 A.M. At 2:00 P.M. we have Cotton System, Fats & Oils and Grain crushing. At 3:30 P.M. we have the weekly […]Continue Reading →
Oil prices cap off their best monthly gain since April of 2016 as geo-political risk is rising in Venezuela and a report from the Energy Information Administration(EIA) saying that we are not producing as much oil as we thought we were. The limitations of shale oil production are being exposed as it is becoming clear […]Continue Reading →
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