[George Orwel, DTN] New York Mercantile Exchange spot-month oil futures settled at two-week highs Thursday afternoon, rallying across the board following the release of bullish data from the U.S. Energy Information Administration. The data showed an unexpected stock draw for crude, with the upside also lent support by a rally for equities. “This was an […]Continue Reading →
Oil prices are getting rattled as the fear that rising interest rates will slow down surging U.S. and global demand. High yielding auctions and Fed minutes, that stated the obvious, was enough to send stocks and oil and the ten-year note on a wild ride. At first the market took the Feds promise of gradual […]Continue Reading →
10 years ago, the market was fretting, everyone was worried about ‘peak oil” and now it is peak demand. Instead of the world on a collision course of fighting over the last drop of oil now it seems that we have turned the world upside down and now we are seeing predictions that oil demand […]Continue Reading →
WTI oil prices are gaining on Brent as strong U.S. demand and Canadian pipeline issues tighten U.S. oil supply even further. This comes as OPEC comments suggest that they are still fully committed to keeping production cuts in place until the end of 2018, along with their NON-OPEC co-conspirators and even suggesting that the deal […]Continue Reading →
Here we go Loopty Loo. Here we go loopty li. Here we go loopty loo. All on a Saturday night. Oil prices are getting loopy as a historic turnaround for the LOOP, otherwise known as the “The Louisiana Offshore Oil Port” the major U.S. oil import terminal is getting looped around for now exporting oil. […]Continue Reading →
Despite the recent correction in crude oil, the Saudis say they are all in when it comes to cutting production. Despite the recent stock-market inspired shake out and the surge in shale oil output, the truth is that the global oil market is going through its most significant tightening cycle in over a decade. The […]Continue Reading →
Oil prices are under pressure after the American Petroleum Institute (API) reported a 3.947-million-barrel increase in crude supply, not unexpected because it is after all shoulder season. Yet, a 2.319 million barrel drop in Cushing Oklahoma oil supply should give the bears some pause. The continued draws in the NYMEX delivery point at some point […]Continue Reading →
Oil Hedge funds continue to run for the exits and is in part responsible with yesterday’s late day swoon. Yet, despite market turmoil the supply versus demand fundamentals for oil continue to be very bullish. Even the International Energy Agency (IEA), that hates to say anything bullish about oil, is acknowledging that despite their prior […]Continue Reading →
Oil prices are soaring back after getting smashed on last week’s stock market correction. Of course, all the selling in stocks and oil are not about what is happening now but what may or may not happen in the future. The economy and economic data has been too hot! That means we may see higher […]Continue Reading →
[Eric Thomas, The Talking Democrat] Oil quoted in London and New York saw its biggest weekly fall in two years on Friday, the volatility on Wall Street and a US production at historical levels having broken the bullish momentum in the past five months. A barrel of light sweet crude (WTI) for March delivery, the […]Continue Reading →
Many are saying that the reason that U.S. oil is falling is the projections for rising U.S. production. Predictions, by the IEA and the EIA about a surge in oil, suggests that U.S. oil production, that supposedly stands above 10 million barrels a day, will soon exceed 11 million barrels a day. Yet, the truth […]Continue Reading →
Oil prices fed into the fears of stock market volatility and now suddenly fears a U.S. production increase. The Dollar is on the rise and oil is on the downside even as we are still heading towards a significant tightening of global oil supply. Fears that this stock market correction could lead to a more […]Continue Reading →
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