Currently viewing the tag: "The Energy Report"

Record US refining run is driving down gas prices even as oil prices rise due to geopolitical risk. The Lundberg survey shows that gas prices have fallen 9 cents a gallon in the last 2 weeks.  Lundberg says that the average price for regular gasoline at U.S. pumps dropped 9.04 cents in the two weeks [...]

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While the world is in geopolitical turmoil somehow financial markets are subdued. While many credit the Fed and their easy money policies another main component of this calm in the face of multiple storms is the rise of the US oil producer. Soaring US oil production has allied fears that these many geo-political hotspots could [...]

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Air Risk. The Energy Report 7/24/14

On July 24, 2014 - 9:23 AM By

A day after Ukraine accused Russia of shooting down Ukrainian warplanes and after the downing of a Malaysian passenger plane another plane has gone missing. Reports overnight that Spain’s Swiftair lost contact with an Airbus A320 plane that had 116 people aboard en route from Ouagadougou in Burkina Faso in Africa to Algiers may bring [...]

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If the American Petroleum Institute is any indication refiners continue to refine oil into product at a record pace. Cheaper domestic and higher yielding oil are leading to high margins for refiners that keep them running at a historic pace. What is more that even with that record pace the draw on US inventories are [...]

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August crude is going off with a bang as violence in the Gaza strip and fears of Russian sanctions is coming ahead what some people fear will be a big drop in Cushing Oklahoma supply. Cushing Oklahoma of course is the delivery point for the West Texas Intermediate contract and we saw August crude go [...]

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Global markets are weak as the combination of increasing calls for tough sanctions on Russia and heavy fighting between Israel and the Palestinians is adding uncertainty to global economic outlook. The evidence is mounting of Russia’s involvement in the missile strike that brought down the Malaysia Airlines flight that killed 298 people. The anger level [...]

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Barbaric. The Energy Report 7/18/14

On July 18, 2014 - 9:04 AM By

Oil is rising as geopolitical risk came back in the most horrendous way. The shooting down of an unarmed passenger plane with a surface to air missile could raise the tensions in Ukraine to a whole new level. All 298 souls aboard Malaysia Airlines Flight 17 were killed. Oil had the biggest increase in a month [...]

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The EU and US followed through and hit Russia with more sanctions in response to the trouble that they are causing in Ukraine. The sanctions on Russia may start to bite and are already impacting many stock and commodity markets across the board. Palladium was notable as it hit the highest level since 2001 after [...]

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China Bounce. The Energy Report 7/16/14

On July 16, 2014 - 8:56 AM By

Oil is rebounding on a drawdown in US supply and strong Chinese data upping what had been weakening demand expectations out of the world’s second largest economy. Not to mention the EU most likely putting new sanctions on Russia and no cease-fire in the Gaza strip. China’s GDP came in at a better than expected [...]

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Libyan Oil. The Energy Report 7/15/14

On July 15, 2014 - 9:26 AM By

One of the reasons oil saw a historic sell off was the promise that Libya would soon be exporting oil. Can we count on Libyan oil? Oil prices reversed higher yesterday after a report that said that the UN was pulling its staff out of the country. Heavy fighting in Benghazi and Tripoli closed down [...]

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Peaked Oil. The Energy Report 7/14/14

On July 14, 2014 - 9:12 AM By

Oil prices continue lower as a flood of Libyan oil supply is expected to overwhelm any loss of supply. This comes after the International Energy Agency lowered its oil demand expectations last week. The IEA cut its 2014 demand forecast to 9n.7 million barrels per day a drop of 130,000 barrels a day. Yet geopolitical [...]

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A default by Portuguese Espirito Santo International, parent company of Portugal’s Banco Espirito Santo, reminded the market that maybe just maybe the problems in the European banking sector may not be over just yet. Euro stocks tanked and oil prices that were going for a record amount of down sessions bounced late in the session [...]

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