Currently viewing the tag: "Phil Flynn"

CBS Chicago | You’ll find you’re paying more for gasoline when you hit the road this holiday weekend. You’ll also find more of something else during your travels, CBS 2’s Jeremy Ross reports. Regular unleaded is $3.04 a gallon in Chicagoland. The national average is $2.73, according to AAA Motor Club. The cost, of course, [...]

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Ultra Bears missed out on the biggest string of gains in the history of the oil market, or at least since 1983 when they  began keeping records. The reason they missed out was failing to understand the gravity that the last November oil price crash had on the fundamentals of this market. That price crash [...]

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By Barani Krishnan | Reuters Oil prices jumped more than 2 percent on Thursday, giving Brent its biggest rally in more than a week, as draws reported in the Cushing delivery point for U.S. crude futures boosted optimism that a supply glut was easing. Fighting in Iraq that raised worries about the security of Middle East oil shipments also [...]

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By MARK SHENK | Bloomberg Oil climbed after U.S. crude stockpiles dropped, as refineries bolstered operating rates. Crude inventories declined 2.67 MMbbl last week, according to the Energy Information Administration. Refinery operating rates rose for the third time in four weeks. Gasoline supplies unexpectedly fell ahead of the Memorial Day holiday, which heralds the start [...]

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Now it seems that we may have some better insight as to why ECB official, Benoît Coeuré, is talking about front loading its quantitative easing (QE) program. It is because growth in the Euro Zone is weakening. The early onset of QE and QE expectations gave the Euro-zone economy a much need boost, especially in [...]

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PRICE Links Video Series Access commentaries by the industry’s top market analysts straight from the floor of the CME Group. Hosted by PRICE Futures Group’s Senior Analyst Phil Flynn. Memorial Day Barbecue Outlook! With Jack Scoville PRICE Futures Group’s Senior Analyst Phil Flynn discusses the meats, grains and softs markets with Sr. Analyst Jack Scoville, [...]

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By Collin Eaton | Longview News-Journal Things have been looking up for energy markets recently, but another tough trading day showed oil may still be shaky. The price of U.S. crude sank more than $2 a barrel Tuesday as the dollar surged and oil traders, scouring the globe for signs a worldwide crude glut could [...]

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While oil prices got hit hard after the ECB changed to rules on their Quantitative Easing (QE) program, the market is coming back on signs that the U.S. oil surplus could be abating. The American Petroleum Institute in the for subscribers only report showed that U.S. crude supply fell by a much more than expected [...]

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Moming Zhou and Jake Rudnitsky | Bloomberg via The Washington Post New York futures fell for a fifth day, heading for their longest losing streak since March as a stronger dollar reduced oil’s investment appeal. Crude is poised to revisit earlier lows as producers’ easy access to cash will prolong a surplus and weigh on [...]

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Oil prices are coming under pressure as an ECB bank official say that the ECB should “front load” quantitative easing right away to stimulate seasonal weakness in the economy. Benoit Coeure, an ECB executive board member, said the central bank will “frontload” its asset purchases in May and June to maintain its monthly average of [...]

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Oil rises as Ramadi falls as this markets price action continues to defy the calls for an oil price crash. ISIS forced Iraqi security forces to flee the largest province in Iraq despite help from U.S. air support. Yet Iraq is far from the only geopolitical risk for oil as Saudi Arabia and it coalition [...]

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While the bearish oil traders have been missed out on a rally for almost $20 a barrel, they are now doubling down on their bearish calls .This comes after today may set a near record 9th week of gains for the most consecutive weekly gains in at least 30 years. Yet despite that prices run [...]

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