Currently viewing the tag: "The Energy Report"

Oil prices are on the rise as Libya’s state-run National Oil Corp. declares a force majeure on loadings of Sharara crude from the Zawiya oil terminal and on loadings of Wafa field condensate from the Mellitah terminal and drop-in oil inventory at the Cushing, Oklahoma NYMEX delivery point. That was the first drop in five […]

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Dove. The Energy Report 03/28/17

On March 28, 2017 - 7:54 AM By

Dovish comments from the Chicago Fed President Charles Evans, give oil a bit of a boost offsetting worries about President Trump’s failed Healthcare Reform Act vote. The Fed may have President Trumps back. After speaking at a conference in Madrid, Spain, the Chicago Fed president signaled that perhaps the Fed might not raise rates as […]

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A new dawn is breaking in the old OPEC cartel and it is a reminder that this is not the same cartel of just a few years ago. Instead of infighting and name calling, there is cooperation and order and that is why OPEC and non-OPEC will secure an extension of the OPEC production cuts. […]

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Oil prices sold off after the Trump Administration did not close the deal on the American Healthcare Act and delayed the vote until today. Oil today is bouncing back on growing expectations that OPEC will lay the groundwork for an extension of production cuts this Sunday at its technical meeting in Kuwait. OPEC has ridden […]

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Crude oil prices recovered after another shocking increase in oil inventory after traders started to focus on the fact that refiners are beginning the long road out of seasonal maintenance. The 5.0-million-barrel crude supply increase was driven by a huge 902,000-barrel increase in crude imports mainly from Canada of all places and a slight 20,000 […]

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Normally when oil makes a decisive move it is usually because oil inventories, or a headline out of the Middle East. Yesterday oil moved because of Health Care uncertainty. Speaker of the House Paul Ryan may get a bit of a complex because as soon as his press conference began about the American Healthcare Act […]

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Oil prices sold off yesterday as the Libyan government says they will re-open closed oil ports after fighting stopped Libyan crude exports for the last two weeks. Yet one cannot count on the promise of Libyan oil as they have yet to prove they can be a reliable supplier. Yet oil is on the rise […]

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While many are focused on the meteoric rise in the U.S. oil rig count, one must wonder why the Canadian oil rig count plummeted last week. There are headlines that read the increase in the U.S. rig count increased for the ninth time in a row by 14. Yet in Canada the oil rig count […]

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Oil prices are showing a wee bit of green this lovely Saint Patrick’s Day and look like it is on track for its first up week since January! This comes after oil took a hit after a record amount of hedge funds went long before the trade went arseways on us. Yet the bulls may […]

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Gradual. The Energy Report 03/16/17

On March 16, 2017 - 7:40 AM By

The word “gradual” was all the markets had to hear. The Fed as expected, raised interest rates but signaled rate increases in the future would come at a gradual pace. That assurance was enough to cause the stock market to soar and the dollar to pull back and added momentum to oil that received some […]

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Crude oil is back on a supply side drive after the American Petroleum Institute (API) reports an oil supply drop, perhaps signaling that last week’s massive crude oil supply increase was a fluke! This comes after mixed data from OPEC surrounding Saudi Arabian production numbers where the Saudis reported a production increase, perhaps to send […]

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Snow Job. The Energy Report 03/14/17

On March 14, 2017 - 7:57 AM By

A OPEC snow Job! What is Saudi Production! Oil prices thwarted an early morning recovery on a private report that put Saudi oil production above 10 million barrels a day. Not so according to the Official OPEC data that said that  said its production decreased 139,500 barrels a day in February, to average 31.96 million […]

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