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Tag Archives | Crude Oil

OilRig-595

More Down as Supply Builds Return and Demand is Suspect

CRUDE OIL MARKET FUNDAMENTALS: With a breakdown below the March low overnight and a residually large spec and fund positioning, it isn’t surprising to see May crude oil range down sharply again. It is likely that significant declines in US equities evoked a portion of the current selling wave in a number of industrial commodities […]

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OilRig-595

Crude Might Diverge with Natural Gas Ahead

It appears as if crude oil was able to benefit from improved global economic conditions to start out the new trading week but the poor close in the prior trading session hints at the prospect of corrective balancing. However, in addition to an extension of strong US economic information, US temps generally remain cold and […]

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NatrualGasBurner-595

A Mostly Positive Tone Today Off Saudi Dialogue

CRUDE OIL MARKET FUNDAMENTALS: Crude oil may have increasing optimism of lower global output on the horizon, but it continues to have to deal with a US domestic supply glut. However, the market overnight has discounted news of higher Saudi oil output for the month perhaps because of developing weakness in the Dollar and renewed […]

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NatrualGasBurner-595

We Leave the Edge With the Energy Bears Today

December crude oil prices did manage to spend some time in positive ground yesterday but it was unable to hold those gains into the close and there has been fresh damage on the charts again this morning. With the market fearful that Iraq will leave their production levels intact, Iraqi exports showing monthly gains, a […]

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OilRig-595

We think energies are Overbought Into the Overnight Highs

CRUDE OIL MARKET FUNDAMENTALS: The prospect of a producer production cutback agreement ebbed and flowed on Wednesday, but the debate clearly shifted to deal late Wednesday afternoon. Apparently the Algiers meeting yielded some positive price results but seeing the details of a plan delayed until November has left the market flat footed after the double […]

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OilRig-595

We Think the Market Is Now Giving too Much Credit to OPEC

CRUDE OIL MARKET FUNDAMENTALS: Another higher high for the move in crude oil overnight extends the overbought technical condition, but seeing a decline in US crude oil stocks above expectations yesterday has caught the attention of the market again. Furthermore weakness in the Dollar combined with positive action in the German DAX overnight seems to […]

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NatrualGasBurner-595

We Think the Crude Rally is Beginning to Get a Little Overdone

CRUDE OIL MARKET FUNDAMENTALS: The reverberation of coordinated production control talk has continued to fuel crude oil and other energy markets higher into the 2nd trading session of the week. In a new wrinkle, the market also saw speculation that Venezuela might be set to have trouble maintaining oil production without investment. The problem with […]

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NatrualGasBurner-595

Crude Consolidation Action Hints at a Low

There is still a great deal of financial instability this morning, and this could spill over into commodities. Crude oil and the products were trading down near Friday’s lows this morning, down slightly from the Friday’s close, but they had not pushed into new lower ground. British politics are in turmoil, the pound is down […]

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