Currently viewing the tag: "Phil Flynn"

Saudi Arabia is making an incredible offer to try to close the deal on a production freeze at the meeting in Algiers. The word on the street is that Saudi Arabia is offering to cut its oil production if Iran agrees to freeze theirs. The key to any production freeze, once again, comes down to […]

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Myra P. Saefong, MarketWatch. One day major oil producers support a production cap, and the next day they don’t. Members of the Organization of the Petroleum Exporting Countries and Russia will meet on the sidelines of the International Energy Forum in Algeria on Sept. 28 and it could end just like the summit in Doha […]

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Overshadowed. The Energy Report 09/22-16

On September 22, 2016 - 7:37 AM By

The oil market overshadowed the “transparent” Fed with a spectacular drawdown in crude oil inventory. Also signs that OPEC is close to a deal to freeze production and an oil worker strike in Norway all added up to a volitive day in energy. Despite the Fed rhetoric about making sure traders knew that this was […]

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Formal Affair. The Energy Report 09/21/16

On September 21, 2016 - 8:30 AM By

I’m putt in’ on my top hat, tyin’ up my white tie, brush in’ off my tails. I’m dudin’ up my shirt front, and putt in’ in the shirt studs, polish in’ my nails. I’m stepping’ out, my dear, to breathe an atmosphere that simply reeks with class. And I trust that you’ll excuse my […]

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Searching So Long. The Energy Report 09/20/16

On September 20, 2016 - 7:46 AM By

Search so long to find an answer. Will the Federal Reserve have one? Oil, like every other market, is chopping around waiting for the Federal Reserve decision on interest rates. While it seems unlikely they will raise rates, the suspense has been killing liquidity in the market. Oil prices swing on obscure headlines and sometimes move […]

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Do you remember on Friday when traders were saying that they were selling oil because of the impending resumption of Libyan oil exports? They were saying this despite that fact that Libyan Gen. Khalifa Hifter had taken control of Libya major oil ports from the U.N. brokered Libyan government. Well those hopes were dashed after […]

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Investor’s Business Daily via Nasdaq.com. In the oil business, not all shale plays are created equal. The Permian Basin has seen production rates fall less than in other basins in the U.S. during the current downturn thanks to its exceptional geology. Diamondback Energy (FANG), an exploration and production company, is dominating prime acreage in the […]

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RBOB ROCKED. The Energy Report 09/16/16

On September 16, 2016 - 7:28 AM By

RBOB gasoline futures rose to the highest level since June, giving some support to oil that is suffering from seasonal weakness and concerns about oversupply. Price spikes along the East Coast are inevitable as cash buyers scramble to secure supply. Oil is also worried about the resumption of Libyan oil exports even as group led […]

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Myra P. Saefong, MarketWatch. The U.S. Energy Information Administration will make a change to its petroleum-supply report next month that could see weekly data on crude-oil stockpiles shift downward by roughly 31 million barrels. On Oct. 13, the Weekly Petroleum Status Report, or WPSR, will “no longer include crude oil lease stocks in the U.S. […]

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Quick Draw. The Energy Report 09/15/16

On September 15, 2016 - 9:13 AM By

Oil prices saw a quick reaction after the Energy Information Agency (EIA) showed a draw in a surprise drop in crude oil but fell sharply as traders mulled an increase is U.S. crude oil production as well as a colonial pipeline inspired increase in distillate stocks. Despite a big jump in Gulf Coast imports it […]

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Myra P. Saefong & Jenny Hsu, MarketWach. Oil futures turned higher Wednesday, then dropped back toward a two-week low after U.S. government data showed an unexpected weekly decline in crude stockpiles, along with a climb in production. Prices had fallen sharply a day earlier after a report from the International Energy Agency suggested that the […]

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Rebound Delayed. The Energy Report 09/14/16

On September 14, 2016 - 7:14 AM By

Oil prices are recovering after getting whacked from The International Energy Agency (IEA) report that lowered demand forecasts for the next two years. The reason we are rebounding is due in part to the American Petroleum Institute (API) who suggested that a rebound from the hurricane Hermine related drop may not happen as quickly as […]

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