Posts by: Phil Flynn

The Energy Report for Tuesday, September 27, 2016 OPEC Meeting: The OPEC Waltz Oil prices are sliding and gliding to the OPEC waltz. Markets are fixated on this dance that at times seems to have the partners closer together but at other times, worlds apart. On Friday oil prices tanked as both the Saudi energy […]

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Gillian Rich, Investor’s Business Daily. Oil prices rose Monday as top producers offered concessions to cap output ahead of an informal meeting on the sidelines of the International Energy Forum in Algeria on Wednesday. Brent climbed 2.9% to $47.27 per barrel. U.S. crude jumped 3% to $45.81 a barrel. U.S. crude rose 2% last week, […]

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Saudi Arabia offers to cut production in a sign of good faith after they lowered expectations for a deal in Algiers this week. Saudi Arabia says they are ready for any outcome and there is talk that if OPEC can come to an agreement, they could still formalize this meeting. OPEC negotiations are heating up […]

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Saudi Arabia is making an incredible offer to try to close the deal on a production freeze at the meeting in Algiers. The word on the street is that Saudi Arabia is offering to cut its oil production if Iran agrees to freeze theirs. The key to any production freeze, once again, comes down to […]

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Myra P. Saefong, MarketWatch. One day major oil producers support a production cap, and the next day they don’t. Members of the Organization of the Petroleum Exporting Countries and Russia will meet on the sidelines of the International Energy Forum in Algeria on Sept. 28 and it could end just like the summit in Doha […]

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Overshadowed. The Energy Report 09/22-16

On September 22, 2016 - 7:37 AM By

The oil market overshadowed the “transparent” Fed with a spectacular drawdown in crude oil inventory. Also signs that OPEC is close to a deal to freeze production and an oil worker strike in Norway all added up to a volitive day in energy. Despite the Fed rhetoric about making sure traders knew that this was […]

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Formal Affair. The Energy Report 09/21/16

On September 21, 2016 - 8:30 AM By

I’m putt in’ on my top hat, tyin’ up my white tie, brush in’ off my tails. I’m dudin’ up my shirt front, and putt in’ in the shirt studs, polish in’ my nails. I’m stepping’ out, my dear, to breathe an atmosphere that simply reeks with class. And I trust that you’ll excuse my […]

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Searching So Long. The Energy Report 09/20/16

On September 20, 2016 - 7:46 AM By

Search so long to find an answer. Will the Federal Reserve have one? Oil, like every other market, is chopping around waiting for the Federal Reserve decision on interest rates. While it seems unlikely they will raise rates, the suspense has been killing liquidity in the market. Oil prices swing on obscure headlines and sometimes move […]

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Do you remember on Friday when traders were saying that they were selling oil because of the impending resumption of Libyan oil exports? They were saying this despite that fact that Libyan Gen. Khalifa Hifter had taken control of Libya major oil ports from the U.N. brokered Libyan government. Well those hopes were dashed after […]

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Investor’s Business Daily via Nasdaq.com. In the oil business, not all shale plays are created equal. The Permian Basin has seen production rates fall less than in other basins in the U.S. during the current downturn thanks to its exceptional geology. Diamondback Energy (FANG), an exploration and production company, is dominating prime acreage in the […]

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RBOB ROCKED. The Energy Report 09/16/16

On September 16, 2016 - 7:28 AM By

RBOB gasoline futures rose to the highest level since June, giving some support to oil that is suffering from seasonal weakness and concerns about oversupply. Price spikes along the East Coast are inevitable as cash buyers scramble to secure supply. Oil is also worried about the resumption of Libyan oil exports even as group led […]

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Myra P. Saefong, MarketWatch. The U.S. Energy Information Administration will make a change to its petroleum-supply report next month that could see weekly data on crude-oil stockpiles shift downward by roughly 31 million barrels. On Oct. 13, the Weekly Petroleum Status Report, or WPSR, will “no longer include crude oil lease stocks in the U.S. […]

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