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Tag Archives | Crude

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We Think the Path of Least Resistance is Pointing Down

CRUDE OIL MARKET FUNDAMENTALS: The crude oil market was content to trade in negative territory yesterday with weakness more than likely the result of news of a restart of production in Libya that was halted last week. One might also suggest that recent strength in the dollar and a noted breakdown in equities this week […]

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The Path of Least Resistance is Pointing Upward Again Today

CRUDE OIL MARKET FUNDAMENTALS: February crude oil managed to forge another higher high for the move overnight and managed that action in the face of moderating US temperatures and more importantly, in the face of renewed Libyan oil export capacity and targeted increases in Libyan production for the month of December. The Libyan situation is […]

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OilRig-595

The Path of Least Resistance in Energies Remains Down

CRUDE OIL MARKET FUNDAMENTALS: Despite potentially supportive US economic news yesterday and positive international views this morning, crude oil prices have slumped and given off the impression of an impending downside washout. News that the IMF reduced their global growth forecast yesterday probably dampens more favorable sentiment toward the UK this morning. In fact an […]

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EIA Weekly Petroleum Analysis – 2015.08.05

Crude stocks at 455.275 million barrels is the highest for this week since 1990. EIA crude stocks fell 4.407 million barrels and are 89.657 million barrels above year ago levels. Also, crude stocks stand 94.571 million barrels above the five year average. Crude oil imports for the week stood at 7.18 million barrels per day […]

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Energy Commentary: The Path of Least Resistance is Downward

CRUDE OIL MARKET FUNDAMENTALS: Another downside failure below even-number support in September crude oil rekindles technical knock-on selling, especially since weekly inventory data showed burdensome supply remains in place. If you add in the periodic strength of the Dollar, the energy complex this week has seen both inside and outside market negatives surface. If one […]

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OilRig-595

Energy – Marginally higher off lift in outside market sentiment, unexpected gasoline supply build a headwind.

CRUDE OIL FUNDAMENTALS: July WTI crude oil prices trended higher during the initial morning hours and reclaimed the $60.00 level in the process. The market sees more upside follow through following yesterday’s late day recovery in the wake of a dovish Fed meeting outcome, an improvement in outside market sentiment and a setback in the […]

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Weekly Petroleum and Ethanol Report

The EIA came out with its Weekly Petroleum Status Report today. We like to do some analysis and publish an excellent summary of the results. Both this report and our look at the weekly Ethanol numbers are below. New this week, our Energy Report was expanded to cover crude oil stocks at Cushing, OK along […]

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