Currently viewing the tag: "The Energy Report"

Business and users of oil that did not buy into the lower for longer talk are giving thanks this Thanksgiving for having hedged their oil, gasoline and diesel purchases. Suddenly, the oil glut that many had predicted would last forever has suddenly turned into a very tight market. Oil futures are in contango for the […]

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Legging Up. The Energy Report 11/21/17

On November 21, 2017 - 7:38 AM By

It looks like oil is consolidating for another leg up as it shakes off political uncertainty in Germany, one of the reasons we pulled back yesterday, and instead on talk of another big drop in supply in the Cushing Oklahoma. Market chatter has the NYMEX delivery point falling at least 1 million barrels and some […]

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Oil Up Cycle. The Energy Report 11/20/17

On November 20, 2017 - 9:05 AM By

Oil traders have amassed a record long position in oil as global demand rises and supply of distillate stocks remain tight. Money managers increased their net longs by 28,297 contracts to 409,963 or equivalent of nearly 410 million barrels of oil, according to Reuters. This comes as U.S. shale producers hold off on adding oil […]

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Continue the Cuts. The Energy Report 11/17/17

On November 17, 2017 - 7:09 AM By

Khalid A. Al-Falih, the Minister of Energy, Industry and Mineral Resources of Saudi Arabia and chairman of Saudi Aramco all but guaranteed an extension of oil production cuts to be officially announced at the end of the month despite the protestations by some Russian oil companies. Russian oil companies are desperate to raise production to […]

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Distillate Dreams. The Energy Report 11/16/17

On November 16, 2017 - 8:02 AM By

The Energy Information Administration (EIA) reported a more supportive snapshot of petroleum supply and demand than the American Petroleum Institute (API) reported, and while the report was not as bullish as pre-API report expectations from a seasonal standpoint it was supportive. The EIA reported that total commercial petroleum stocks increased 2.75MB and while that might […]

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Mash Up. The Energy Report 11/15/17

On November 15, 2017 - 7:04 AM By

After being extremely over bought with a record amount of hedge fund and large speculators long caused a sell off after a questionable report from the International Energy Agency’s, Traders hoping that the American Petroleum Institute weekly supply report would perhaps add some clarity only added to the confusion. In a major mixed bag of […]

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Different Worlds. The Energy Report 11/14/17

On November 14, 2017 - 6:53 AM By

It seems that OPEC and the International Energy Agency live in different worlds when it comes to projecting future energy demand. While OPEC in their monthly report expects to see a larger oil supply deficit in 2018, the International Energy Agency (IEA) sees the appetite and an oil market oversupplied in the first half of […]

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The Saudi Solution. The Energy Report 11/10/17

On November 10, 2017 - 11:52 AM By

Risks of war may be on the rise after Saudi Arabia told all its citizens not to travel to Lebanon and urged those that are in the country to leave as soon as possible. The tensions are rising after the Lebanese Prime Minister Saad Hariri resigned in Saudi Arabia but is now currently missing and […]

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The Big Freeze. The Energy Report 11/09/17

On November 9, 2017 - 7:45 AM By

The fundamentals in the petroleum complex are getting frosty. Oil prices hit another 2 and a half years high before closing lower after the record-breaking run of U.S. oil exports ended and as U.S. oil exports suddenly got frozen out. In Saudi Arabia the crackdown on corruption and quest for power turned even more cold […]

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There is a temptation to attribute the recent rise in oil prices to just the uncertainty of the political purge that we have seen in Saudi Arabia, but if you think that you are missing the larger point. There is a reason why we have seen oil prices hit a 2 and a half-year high […]

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It seems the move by Saudi Arabia’s Crown Prince Mohammed bin Salman to arrest members of the royal family and their business associates in a corruption crackdown is proving to be wildly popular among the Saudis young population. Yet, at the same time it is adding a new sense of an oil price risk against […]

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Oil prices hit a two-year high as U.S. oil rig counts had the biggest drop of the year and the Saudi Crown Prince goes after his “rivals” in a corruption crackdown. Drama in the Saudi Kingdom as Crown Prince Mohammed bin Salman consulates power in a shocking crackdown that even saw Saudi billionaire investor Prince […]

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