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The National Hurricane Center says that tropical depression number nine is expected to strengthen soon but is already impacting oil and gas production. The Bureau of Safety and Environmental Enforcement (BSEE) says that tropical depression number 9 in the Gulf of Mexico is causing precautionary shut downs of offshore oil and gas operations that is […]

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Crude oil traders not only have to grapple with the aftermath of Janet Yellen but also with more storms that could impact both supply and demand. This comes after hedge funds, who started the month with a record short position, have now turn around into a record long position. While tropical wave 99L had well […]

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Oil and natural gas will be looking to deal, not only with watching the weather but also watching Janet Yellen in Jackson Hole, Wyoming. This as the market saw movements from the Saudi Oil Minister and trying to measure the risk of fallout from increasing tensions with the U.S. and Iranian military. Let’s talk storm […]

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Storm Chasing. The Energy Report 08/25/16

On August 25, 2016 - 7:52 AM By

The National Hurricane Center is warning that interests in the northwestern Bahamas and Florida should monitor the progress of a tropical wave disturbance known as Invest 99-L and already there are signs in the oil market that oil companies are heeding the warning. Strong product buying on the Gulf Coast ahead of what could be […]

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Dave Tolleris meteorologist at WxRisk.com said that next week we will have a storm that everyone might be talking about. While the Atlantic is a hot bed of tropical activity, Mr. Tolleris is very concerned about the development of Invest 99-L that may developing into a tropical depression or tropical storm today. If the storm is upgraded, […]

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Oil prices ended their best surge in 4 years in spectacular fashion as oil chose to focus on what seemed to be bearish fundamentals. The bear case yesterday was an agreement with Iraq and the Kurds who would soon get oil flowing and a potential ceasefire in Nigeria. Add to that the calendar puts us […]

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After the best weekly oil run since last April, it is time to let off some steam. Oil is pulling back as the record short speculative position that we saw a few weeks ago has been beaten out of the market in spectacular fashion. The crude oil market starts a pull back as the dollar […]

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The bulls are back and the bears are in trouble. The oil market enters bull market territory just 3 weeks after dipping into bear land. It looked like a classic short squeeze ahead of the September crude oil expiration and it is clear some traders had it all wrong. After the post Brexit swoon, traders […]

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Crude oil prices continue to rally as the dollar weakens and demand expectations rise. Bear traders are running for cover as more evidence that the fallout from the Brexit vote was not as bad as anticipated and the Federal Reserve in their minutes seemed to suggest that there are no worries about inflation which would […]

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The oil trade will be torn between trying to follow monetary policy or oil policy. Do you believe that OPEC and non-OPEC members can agree to freeze production or do you believe that the Fed can raise rates this year? Who Do You Trust? The chances for a rate hike went up after Fed President […]

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While there was a lot of talk about Friday’s Baker Hughes rig count, it is what they did not tell you that may be what counts. On Friday Baker Hughes reported that the number of active U.S. oil rigs increased by 17, the seventh weekly increase and the most in a year. Yet more rigs, […]

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They said it could not be done, but OPEC and non-OPEC may go ahead and do it anyway. It is looking more likely to the oil trade that a deal to freeze oil production could get done. Last week it was Saudi Arabian energy minister Khalid al-Falih who signaled he was open to an agreement. […]

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