Posts by: Phil Flynn

Oil Prices Continue OPEC Rally

On December 5, 2016 - 11:15 AM By

Prices rise to fresh one-year high after the Organization of the Petroleum Exporting Countries agreed to pull back output By TIMOTHY PUKO and NEANDA SALVATERRA, The Wall Street Journal. Oil prices edged up to a fresh one-year high Monday, adding to last week’s sharp rally from OPEC’s agreement to cut production. The market is extending […]

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Renzi Out Oil Up. The Energy Report 12/05/16

On December 5, 2016 - 8:10 AM By

Oil prices, like the rest of the global markets, are shaking off the Italian “no” vote on constitutional reforms and Italian Premier Matteo Renzi announced resignation and instead are focusing on growth and OPEC production cuts. After opening lower the global markets came roaring back as it might not be all bad that Italy is […]

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While the oil market grabbed the spotlight, considering the historic OPEC agreement and rightly so, we also must keep an eye on natural gas. The natural gas market has had an impressive move as of late and yesterday’s price spike got help not only from a slightly friendly supply report, but a weather prediction that […]

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This is a big OPEC’ing deal. While the naysayers said it could not be done, OPEC went ahead and did it anyway. The cartel agreed to cut production by 1.2 million barrels a day(mbd) to 32.5 mbd and has enticed non-OPEC producers to add another 600,000 barrels. Now that the months in making the deal […]

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OPEC Last Stand. The Energy Report 11/30/16

On November 30, 2016 - 7:54 AM By

Strand up or go home. The oil market is giddy as we go into the final stretch in what may be the most important OPEC meeting in recent history. The Cartel today will not only decide on a deal to restrain production but may be a vote on the cartels future relevance. It is doing […]

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When will OPEC make its decision on oil?

On November 29, 2016 - 2:21 PM By

By Myra Saefong, MarketWatch. The much-anticipated event for the oil market this week is Wednesday’s meeting of the Organization of the Petroleum Exporting Countries, where members are expected to hash out details of a proposal to curb crude production. Whether or not the 14-member group of major oil producers is able to reach a final […]

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The Wire. The Energy Report 11/29/16

On November 29, 2016 - 7:57 AM By

OPEC is again taking it down to the wire after marathon talks failed to mend differences between Iran and Saudi Arabia. The Saudis were taking a tougher stand on Friday, suggesting that they are ready to walk away from the deal and seemed to put the deal in jeopardy. All along it has been the […]

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Oil prices dropped by 2 dollars a barrel on light volume after Saudi Arabia refused to attend a meeting with Non-OPEC members over the weekend. The Saudis, who thought they had a deal with Russia, seems to know that the Saudis are failing to do their part. The Russians are probably backing off a bit […]

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Turkey Hangover. The Energy Report 11/25/16

On November 25, 2016 - 8:35 AM By

Oil market action is weak as the US dollar continues to soar and oil is still waiting ion OPEC. It is just 5 days away from the big meeting and still it is unclear whiter the old cartel can get its act together. In the meantime, weak data out of China is making the market […]

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OPEC is a real turkey and knows how to mess up Thanksgiving. In fact, it was Thanksgiving 2 years ago when OPEC failed to secure a production cut and the Saudis declared a production war that goes on until this day. Now Thanksgiving eve in the US and once again the markets are fretting about […]

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Scott DiDavino, Reuters. Oil turned negative in volatile trade on Tuesday on worries Iran and Iraq were not ready to agree on an OPEC output freeze after prices earlier rose to the highest level this month on reports cartel members had overcome their internal disputes. Analysts said the market will remain sensitive to comments from […]

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Eli Wright, Investing.com. Oil prices gave energy stocks a boost yesterday, bumping Wall Street to all-time highs. Asian markets followed overnight. The Nikkei closed 0.31% higher, at 18,162.94; the Shanghai Composite was up 0.91% to 3,247.52; and the Hang Seng jumped 1.56% to 22,707. In Europe, markets opened higher, with the FTSE up 1% to […]

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