Posts by: Phil Flynn

Oil prices had its biggest up move of the year, rising 3.3% on lower supply and higher demand. I don’t mean to be so fundamental about the fundamentals, but in truth, that’s why we soared! Oil prices surged even before the American Petroleum Report (API) reported another massive crude oil crude withdrawal. The 10.23-million-barrel draw, […]

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[Myra P. Saefong, MarketWatch] WTI oil settle 3.3% higher Tuesday OPEC members can’t take all the credit for oil’s rally Tuesday, which saw prices score their biggest single-session gain of the year. News of cuts to oil-and-gas exploration spending and signs of a potential slowdown in U.S. output also played roles in the bullish shift […]

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Oil prices are on the rise as Saudi Arabia pledges to reduce oil exports and the fact that US shale pains are becoming more obvious to the market. Halliburton is warning that the US oil rig count is about to plateau or “peak shale” which we predicted in my recent energy webinar and for an […]

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Divine Intervention [PRICE Links Video]

On July 24, 2017 - 7:59 AM By

Phil Flynn talks with Father Mario Di Cicco of St. Peter’s in the LOOP about the history of the iconic downtown church, how it survived the Great Chicago Fire, its importance to members of the CBOT, and what you can do to help them continue their 140-plus years of dedicated service work to the community. […]

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OPEC and non -OPEC leaders are wrapping up their meeting in St. Petersburg Russia and it looks like it has yielded some positive results. Not only did Nigeria agree to cap their oil production output at 1.8 million barrels a day, the Saudi Oil Minister Khalid al Falih, speaking after the meeting broke up, seemed […]

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For oil and the markets, Russia is all the rage. There is the big OPEC/non-OPEC pow-wow in Russia and reports that Special Prosecutor Robert Mueller is opening an investigation into President Donald Trump’s business transactions with Russia one day after the President said that would be a red-line for him. Of course Robert Mueller had […]

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Major oil draw and a Saudi Arabian coup? The Energy Information Administration (EIA) reported another major 4.727-million-barrel drawdown in crude supply even as US shale production rebounded last week causing US oil production to rise to 9.43 million barrels per day, up from 9.4 million barrels which puts it at a two-year high. We know […]

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Saudi Arabia was testing the waters by sending a signal that the kingdom might cut crude exports by 1.0 million barrels to shock and awe oil out of this sideways trading range ahead of Monday’s OPEC technical meeting. While the market did respond positively to the news, there was still some skepticism that the Saudis […]

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Oil Cracks. The Energy Report 07/18/17

On July 18, 2017 - 7:32 AM By

Oil prices are trying to recover on a weak dollar after selling off yesterday on the August oil future contract expiration. Also on a prediction by the Energy Information Administration (EIA) that US oil production would rise by 113,000 barrels a day to 5.585 million barrels a day in August from July, even as they […]

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They’ve got the Permian Basin blues. Nothing they can do. Orders rigs when prices were high and so they drill a hole and let it die. While the rig counts rise, it is slowing the profits for shale operators and the cost of production is going up. Baker Hughes reported that drillers added just two […]

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Oil prices have been creeping higher 4 days in a row as OPEC plans an “emergency technical meeting” July 24. The move is tentative as the market is still buying into the invincibility of shale oil production and this myth that the global oil market is not balancing. The International Energy Agency tried to feed […]

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Off Balance. The Energy Report 07/13/17

On July 13, 2017 - 8:23 AM By

Despite a record drawdown from US oil inventories and the fact that Saudi exports to the US are at a 30 year low, the International Energy Agency (IEA) is backtracking their prediction of a global oil market rebalancing because of an increase in OPEC oil production. This comes as the agency, famous for underestimating demand, […]

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