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DBO

PowerShares DB Oil Fund

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Summary

The investment seeks to track the DBIQ Optimum Yield Crude Oil Index Excess Return¿ (DBIQ-OY CL ER¿), which is intended to reflect the changes in market value of crude oil. The single index Commodity consists of Light, Sweet Crude Oil (WTI).

Market Cap: 346 Million

Primary Exchange: NYSE Arca

Website: http://www.deutsche-bank.com/ir

Shares Outstanding: 31.4 Million

Float: 31.4 Million

Dividend: 0.0 (0.0%)

Beta: 1.111537

Sector:

Industry:

Short Interest (Feb 02, 2015): 151 Thousand

Ethical Flags

Oil and gas

Longest drawdown: 1264 trading days

From: 2014-06-25 To: 2019-06-12

Lowest Point:

Oil and gas names higher as tanker attacks spark supply fears

via: SeekingAlpha at 2019-06-13 07:20:39:000

Crude oil prices jump as much as 4% following attacks on two oil tankers in the Gulf of Oman, close to the Strait of Hormuz, where more than 30% of the world's shipped oil passes through; currently, WTI +3% to $52.67/bbl, Brent +2.8% to $61.67/bbl. More news on: Frontline Ltd… read more...

Crude Oil - Waiting On OPEC

via: SeekingAlpha at 2019-06-13 02:30:00:000

When the crude oil market becomes ugly, the price action can be hideous. In 2014, the price began to fall from a high at almost $108 per barrel on the nearby NYMEX futures contract. The selling ended in February 2016 with the price at a low at $26.05 per barrel. Crude oil then recovered and ma… read more...

Oil Sell?Off Sparks Investment Opportunities

via: SeekingAlpha at 2019-06-13 01:49:03:000

In recent weeks, renewed trade concerns, slowing oil demand, and a notable acceleration in implied U.S. oil production have spurred a material sell-off in oil. Similar concerns caused oil prices to drop at the end of last year, which prompted OPEC+ (i.e., the Organization of the Petroleum Expo… read more...

Oil surges 3% on incident in Gulf of Oman

via: SeekingAlpha at 2019-06-12 23:24:34:000

Just hours ago, oil prices were flashing red as they neared the $50 level, but overnight reports of tanker explosions in the Gulf of Oman has triggered a sudden turnaround. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long… read more...

Commodities Are 'From Venus' Too

via: SeekingAlpha at 2019-06-12 18:29:07:000

Originally posted on June 11, 2019 ZeroHedge, in its typical eloquent fashion, noted last week that stocks are from Mars but bonds are from Venus, in describing the downdraft of U.S. Treasury bond yields and the significant rebound in the stock market. The two do not rhyme very well, which… read more...

U.S. oil finishes 4% lower on crude build, demand fears

via: SeekingAlpha at 2019-06-12 12:19:28:000

Oil prices sink to their lowest settlement in five months after U.S. government data showed a large increase in domestic crude inventories for the second week in a row. More news on: Energy Select Sector SPDR ETF, Roan Resources, Inc., Superior Energy Services, Inc., Energy stocks news… read more...

Crude inventory builds slightly

via: SeekingAlpha at 2019-06-12 06:31:48:000

EIA Petroleum Inventories: Crude +2.2M barrels vs. -0.5M consensus, +6.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

Fears of falling demand, surging U.S. stockpiles send oil prices plunging

via: SeekingAlpha at 2019-06-12 03:47:23:000

Crude oil prices tumble on concerns over weakening global demand and a U.S. supply glut, dragging prices back to the bottom of their recent range; WTI -2.7% to $51.83/bbl, Brent -2.4% to $60.77/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&… read more...

It's A Great Day To Short Crude

via: SeekingAlpha at 2019-06-11 21:44:37:000

Over the last month, the United States Oil ETF ( USO ) has fallen by nearly 12% in a decline which has reached some of the lowest prices since the start of the year. In this article, I will dig into the fundamentals behind the ETF and show why we are likely to see further price declines in USO… read more...

U.S. crude supply rose 4.8M barrels last week, API says

via: SeekingAlpha at 2019-06-11 13:00:06:000

The American Petroleum Institute reportedly shows a build of 4.85M barrels of oil for the week ending June 7, following a 3.55M-barrel build in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN… read more...

Here's Why Oil Stocks Are Priced For Armageddon

via: SeekingAlpha at 2019-06-11 10:12:51:000

A year after I predicted the oil price collapse , I suggested that we were at the beginning of the end of the oil age . Both times I was told I was in wrong. In fact, I was told I was crazy. Several years later, here we are, and oil is in the midst of yet another correction. Oil stocks are… read more...

U.S. 2018 oil demand rose by most in a decade, BP report says

via: SeekingAlpha at 2019-06-11 07:10:18:000

U.S. oil demand jumped 500K bbl/day to 20.46M bbl/day in 2018, the biggest increase in more than a decade and accelerating a trend of rising oil demand since a trough in 2009, BP says in its latest annual Statistical Review . More news on: BP p.l.c., The United States Oil ETF, LP, Th… read more...

Crude Oil Trade: Iraq Making Big Plans For Crude Oil

via: SeekingAlpha at 2019-06-10 17:36:29:000

The US sanctions on Iran gave a great opportunity to Iraq, which shortly after increased its target for crude oil production to 6.2 million b/d by early 2021 and nine million b/d by early 2024. The additional volumes will allow Baghdad to cover part of the supply gap created after Iran's colla… read more...

The Chickens Are Coming Home To Roost - Years Of Neglect In Oil Upstream Capex

via: SeekingAlpha at 2019-06-10 13:03:16:000

Note: This article was first published to HFI Research subscribers on May 26th, 2019. For more exclusive articles like this, please see here for more info . The oil bulls have always had this one thesis up their sleeves - years of low upstream capex resulting in lower supplies. For the … read more...

Crude Oil Volatility Spike - A Classic Contrarian Signal

via: SeekingAlpha at 2019-06-10 11:13:59:000

The correction in crude oil has come as a shock to previously bullish traders and has rippled across global asset markets, e.g. contributing to the selloff in the S&P 500 and the push lower in bond yields. So what's up (or down?) with crude, and what are the likely next steps from here? … read more...

Russia not yet on board with OPEC production deal extension

via: SeekingAlpha at 2019-06-10 08:17:50:000

Russia will not commit to further production cuts under an OPEC supply deal, since the oil market faces many uncertainties in the months ahead, the country's energy minister says. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total R… read more...

Oil Shock Model Scenarios

via: SeekingAlpha at 2019-06-10 05:37:19:000

By Dennis Coyne Many different oil shock model scenarios have been presented over time at Peak Oil Barrel. Information on the Oil Shock Model, originally developed by Paul Pukite can be found in Mathematical Geoenergy . The future is unknown, so future extraction rates from conventional… read more...

Bears Ignore Tight Market As Oil Prices Stay Volatile

via: SeekingAlpha at 2019-06-09 21:50:28:000

Oil prices have continued to fall since the second half of May as some commentators described the volatile market as the worst four-week run since the 2008 financial crisis. If that is an accurate description of the market, then we should also consider the retreat in major equity share indexes… read more...

A Look At The Charts

via: SeekingAlpha at 2019-06-09 21:36:33:000

The US dollar fell against all the major currencies last week, and the technical indicators warn that further losses are likely. Market speculation that the Federal Reserve will be forced to cut rates more than once this year has strengthened. It is outpacing the expectations that the ECB and … read more...

Crude Oil Continues To Slip - Is It Getting To The Buy Zone?

via: SeekingAlpha at 2019-06-08 02:15:00:000

After trading at highs of $66.60 on the nearby NYMEX WTI futures contract at $75.59 per barrel on the active month ICE Brent futures contract in late April, the price of the commodity that powers the world turned lower. A little over one month after it hit its high, the price of crude oil has … read more...

Crude Oil Continues To Slip - Is It Getting To The Buy Zone?

via: SeekingAlpha at 2019-06-08 02:15:00:000

After trading at highs of $66.60 on the nearby NYMEX WTI futures contract at $75.59 per barrel on the active month ICE Brent futures contract in late April, the price of the commodity that powers the world turned lower. A little over one month after it hit its high, the price of crude oil has … read more...

U.S. total rig count sheds 9, oil rigs drop 11

via: SeekingAlpha at 2019-06-07 09:19:45:000

The total count of active U.S. drilling rigs falls by 9 to 975, resuming its recent pattern of declines after adding 1 rig last week, Baker Hughes says in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil… read more...

OPEC+ likely to extend global production deal, Saudi energy minister says

via: SeekingAlpha at 2019-06-07 03:30:55:000

Crude prices jumped as much as 2% after Saudi Energy Minister al-Falih said OPEC and its allies should extend oil production cuts at around current levels; pulling back a bit, WTI +1.5% at $53.39/bbl, Brent +1.6% at $62.67/bbl. More news on: The United States Oil ETF, LP, Energy Sel… read more...

Crude oil rallies in late-day surge, settles nearly 2% higher

via: SeekingAlpha at 2019-06-06 12:14:11:000

Oil prices turned sharply higher just before today's settlement after trading had been flat throughout the day, following reports that the Trump administration may delay tariffs on Mexican imports. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P… read more...

As Permian oil production turns lighter, price outlook darkens - Reuters

via: SeekingAlpha at 2019-06-06 07:59:37:000

The U.S. may now be the world's biggest crude producer, but the oil produced in the prolific Permian Basin increasingly is too light in density for domestic refiners or for exports , Reuters reports. More news on: Chevron Corporation, Occidental Petroleum Corporation, Concho Resources Inc… read more...

How Much Does Oil And Gas Drive U.S. GDP?

via: SeekingAlpha at 2019-06-06 05:30:26:000

By Bob Iaccino At A Glance Energy has been a tailwind to U.S. growth, but recent declines in oil and gas investment may lessen its impact Oil and natural gas mining remain one of the top U.S. growth sectors The U.S. economy has had a long and bumpy ride on the path to stable gr… read more...

The Oil Price Is Down For Now, But Where Is It Off To Next?

via: SeekingAlpha at 2019-06-06 05:10:58:000

Original Post By Stuart Burns Oil prices are on track for their largest monthly decline in six months, the online trade journal oilprice.com writes . The Trump administration exacerbated the selloff with another threat of tariffs, this time against its southern neighbor Mexico if … read more...

Real-Time U.S. Oil Production Suggests U.S. Oil Production Is Nowhere Near 13 Million B/D In May

via: SeekingAlpha at 2019-06-06 04:25:57:000

Welcome to the " where's the oil coming from " edition of Oil Markets Daily! One of the most important variables to understand today is how much US shale production is growing. So there are a lot of methods one can use to gauge just where production is. Historically, if you compare US oil … read more...

Don't Give In To FOMO On The Crude Trade

via: SeekingAlpha at 2019-06-06 03:06:01:000

Over the last month, shares of iPath's S&P Crude Oil Total Return Index ( OIL ) have fallen by more than 13% - 3% of which came after today's release of the EIA figures. In this article, I will dig into the fundamentals and technical factors influencing crude oil and give a recommendation … read more...

U.S. oil prices tumble into bear market with 3.4% shellacking

via: SeekingAlpha at 2019-06-05 12:17:16:000

The WTI crude oil price has dropped more than 20% below its April peak after closing -3.4% at $51.68/bbl, slipping below the $53.04 level needed to push oil into another bear market. More news on: Cimarex Energy Co., Occidental Petroleum Corporation, Halliburton Company, Energy stocks … read more...

Oil Production Keeps Rising In The U.S. Gulf Of Mexico

via: SeekingAlpha at 2019-06-05 09:45:02:000

The Permian Basin typically dominates headlines about U.S. oil production. But offshore production is more quietly getting a boost. Shell Midstream Partners, L.P. ( SHLX ) announced first oil was produced by the Appomattox floating production system in the Gulf of Mexico on May 23, 2019. T… read more...

Crude oil slides as EIA data shows builds across the board

via: SeekingAlpha at 2019-06-05 07:16:33:000

Oil prices plunge after the EIA reports U.S. crude inventories rose unexpectedly last week while gasoline anddistillate stockpiles built more than expected; WTI -3.5% to $51.61/bbl, Brent -2.4% to $60.48/bbl. More news on: Energy Select Sector SPDR ETF, Exxon Mobil Corporation,… read more...

Oil inventories build sharply

via: SeekingAlpha at 2019-06-05 06:31:23:000

EIA Petroleum Inventories: Crude +6.8M barrels vs. -0.9M consensus, -0.3M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

This Is Why Crude Is Going To Keep Falling

via: SeekingAlpha at 2019-06-04 15:24:41:000

Over the last month, shares of the United States 12 Month Oil ETF ( USL ) have fallen by 15%. This drop has been accentuated in recent days in what seems to be an ever-increasing selloff of growing intensity. In this piece, I will dig into the mechanics of the USL ETF as well as the underlying… read more...

Unexpected inventory build sends oil lower

via: SeekingAlpha at 2019-06-04 12:44:34:000

The API is reporting crude stockpiles up 3.55M barrels last week vs. expectations for nearly a 2M draw. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Stocks on the move, News on ETFs, R… read more...

PADD 3 Refineries Hoarding Crude? This Makes Sense Given Linefill

via: SeekingAlpha at 2019-06-03 15:00:37:000

Welcome to the hoarding edition of Oil Markets Daily! Over the last 2-weeks, there have been 3 firms that came out publicly to state that PADD 3 refineries are hoarding crude. The first one came from Energy Aspects, comments below: US crude hoarding Meanwhile, US crude stocks b… read more...

We Will Likely See $40 Crude Again

via: SeekingAlpha at 2019-06-03 12:50:27:000

The Iranian sanctions and the heated rhetoric was not enough to overcome the concerns regarding global economic growth. In the wake of an exacerbating trade war, oil prices have tanked already. I wrote about two weeks back that these prices will enter the 50s. It fortunately did. I maintai… read more...

Fall In Oil Prices Reflects Fears Over Economic Slowdown

via: SeekingAlpha at 2019-06-03 06:52:17:000

Markets found themselves torn once again between supply fears and a looming economic slowdown OPEC's oil production dropped to a four-year low of 30.17 million barrels per day (bpd) in May The downward movement in oil prices last week seemed unjustified given the current strong market … read more...

EIA 914 - U.S. Oil Production Jumps, But Finishes Q1 Lower Than 2018 Year-End

via: SeekingAlpha at 2019-06-02 10:48:54:000

Welcome to the EIA 914 edition of Oil Markets Daily! EIA 914 was out on Friday and US oil production increased 241k b/d in March 2019 to 11.906 mb/d. The increase came almost entirely from the Gulf of Mexico which was low in February due to maintenance. The breakdown m-o-m is as follow… read more...

EIA Oil Market Analysis: Bearish Fundamentals Emerging In Year-Over-Year Comps

via: SeekingAlpha at 2019-06-01 11:40:36:000

Introduction In our past EIA reports this year, we referenced the fact that the inventory data wasn't matching up to price expectations and the overall bullish sentiment conveyed by energy markets. We further stated that the data was going to have to improve or oil markets were headed for so… read more...

This Is Why Crude Is Falling

via: SeekingAlpha at 2019-06-01 04:16:20:000

Over the last month, we've seen shares in the United States Oil Fund ( USO ) fall by nearly 12% in an ever-steepening collapse in price. One week ago, I wrote a piece in which I showed how some fundamentals were indicating that a bearish decline was likely in the cards. In this piece, I will… read more...

Crude Oil Remains Under Pressure

via: SeekingAlpha at 2019-06-01 02:00:00:000

The price of nearby NYMEX crude oil futures rallied from lows of $42.36 to a high at $66.60 per barrel at the end of April. Brent crude oil did even better, moving from $49.96 to a high at $75.59 per barrel as the Brent-WTI spread has widened steadily since early April. The low in the energy c… read more...

WTI crude tanks 5.5% to four-month lows on heightened trade worries

via: SeekingAlpha at 2019-05-31 12:22:06:000

U.S. crude oil closed at its lowest since mid-February , as Pres. Trump's tariff threat against Mexico compounds concerns about global economic growth, already at risk due to the U.S.-China trade war; WTI July crude settled -5.5% to $53.30/bbl, Brent -3.6% to $64.49/bbl. More news on:… read more...

U.S. rig count posts first gain in four weeks

via: SeekingAlpha at 2019-05-31 09:15:50:000

The total count of active U.S. drilling rigs adds 1 to 984 after posting slight declines for three straight weeks, according to Baker Hughes' latest weekly survey. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index… read more...

Crude oil extends steep slide on heightened trade tensions, China worries

via: SeekingAlpha at 2019-05-31 06:32:25:000

Crude oil prices tumble to fresh three-month lows as concerns about Pres. Trump's trade policy cast doubt on the outlook for global demand; WTI -2.3% to $55.29/bbl, Brent -2.9% to $64.93/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Cr… read more...

Oil: Losing Support

via: SeekingAlpha at 2019-05-31 04:27:13:000

The OPEC+ deals period of validity is nearing and I offer my analysis regarding the cartels future actions and their consequences for the fundamental state of the oil market. Let us recall first what OPEC decided in December: … the Conference decided to adjust OPEC ove... read more...

WTI Weekly: Sell-Side Continuation To 56.33s

via: SeekingAlpha at 2019-05-30 20:08:16:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last weeks WTI Weekly , the primary expectation for this week was for sell-side activity. This expectation did play out as balance developed early we… read more...

World Oil Production, February 2019 Data

via: SeekingAlpha at 2019-05-30 14:37:38:000

The data for the charts below are from the EIA's Monthly Energy Review . I will update this post Friday, May 31st with March data for the USA and charts for several states when the EIA's Petroleum Supply Monthly is published. All data is through February 2019 and is thousand barrels per day… read more...

Oil Update - May 2019

via: SeekingAlpha at 2019-05-30 13:26:52:000

My June West Texas Intermediate oil price forecast ranges between $55 and $65 per barrel. The range is $7.50 lower than last month's forecast. Since last month's forecast, analysts generally believe that OPEC+ can replace reduced Iranian oil output. Previously, some pundits were forecasting … read more...

Oil slides to 12-week lows on modest U.S. supply decline, higher production

via: SeekingAlpha at 2019-05-30 12:21:07:000

Benchmark crude oil prices tumbled to their lowest levels since March following a smaller than expected decline in U.S. crude inventories and fears of a global economic slowdown from the U.S.-China trade war. More news on: Cimarex Energy Co., Devon Energy Corporation, Marathon Petroleu… read more...

The Disconnect Between Oil Prices And E&P Equities

via: SeekingAlpha at 2019-05-30 11:19:51:000

One area of great frustration to oil and gas equity owners is the lagging response of stock prices to crude futures prices. One might think there should be about a one-to-one relationship in price changes. However, going back to February 2016, when crude prices bottomed following the OPEC in… read more...

Gasoline inventory unexpectedly rise

via: SeekingAlpha at 2019-05-30 07:01:59:000

EIA Petroleum Inventories: Crude -0.3M barrels vs. -0.9M consensus, +4.7M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

U.S. crude supply fell 5.3M barrels last week, API says

via: SeekingAlpha at 2019-05-29 12:55:09:000

The American Petroleum Institute reportedly shows a draw of 5.26M barrels of oil for the week ending May 24, following a 2.4M-barrel build in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, … read more...

Crude oil, energy stocks end off session lows; gas-exposed names buck losses

via: SeekingAlpha at 2019-05-29 12:14:04:000

Energy stocks bounced alongside crude oil prices to close with losses but well off the day's worst levels , as MPLX reportedly told shippers it expects to restart the Ozark oil pipeline on Friday. More news on: MPLX LP, Chesapeake Energy Corporation, Southwestern Energy Company, Energ… read more...

DBO: Last Week's Correction Is An Opportunity For Oil Bulls

via: SeekingAlpha at 2019-05-29 08:54:11:000

Investment thesis As expected in my last article, Invesco DB Oil Fund ( DBO ) tumbled, following growing uncertainties hovering over oil demand. Going forward and in spite of yearly high US oil storage and decline net speculative bets, bulls have taken over, and the huge Brent-WTI price di… read more...

Oil resumes sharp slide as trade war outweighs supply concerns

via: SeekingAlpha at 2019-05-29 06:19:49:000

Crude oil prices tumble as China signals it could play the rare earths card in its trade war with the U.S., adding to concerns that an ongoing standoff could hurt crude demand; U.S. WTI -2.6% to $57.60/bbl, Brent -1.9% to $68.80/bbl. More news on: The United States Oil ETF, LP, Ener… read more...

Russia weighs OPEC+ output cut extension

via: SeekingAlpha at 2019-05-29 01:37:42:000

Russia is considering a possible extension of its oil output reduction agreement with OPEC and other producers, according to First Deputy Prime Minister Anton Siluanov. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Cru… read more...

What's Driving The Market Today

via: SeekingAlpha at 2019-05-28 20:11:20:000

Thanks for joining us today on the Tortoise QuickTake Podcast . Im James Mick, Managing Director and Energy Portfolio Manager with Tortoise. First, we would like to offer our sincere thank you to all our men and women of the armed forces as we spent yesterday remembering those who… read more...

Open Insights: EIA's Weekly Petroleum Report (05/17/19)

via: SeekingAlpha at 2019-05-28 16:59:58:000

Continuing our weekly series, Open Insights, well take a look at the EIAs Weekly Petroleum Status Report (WPSR) for the week of May 17, 2019. EIA reported a crude build of 4.74 million barrels for the week. Lower imports were largely offset by lower exports. W… read more...

The Tale Of Two Oil Markets - Global Tightness Will Take U.S. Crude Storage Down

via: SeekingAlpha at 2019-05-28 12:39:35:000

Welcome to the tale of two oil markets edition of Oil Market Daily! Note: This was first published to HFI Research subscribers via our new Oil Market Fundamental daily report. The tale of two oil markets is getting more and more attention in the sell-side community. Following Energy… read more...

Weekly Energy Recap: Oil Sees Big Weekly Loss As Iran Struggles To Store Crude

via: SeekingAlpha at 2019-05-27 04:12:51:000

The market remained under pressure from US stock-build for the third week in a row RIYADH: Oil prices ended last week with the biggest weekly losses of the year. Brent fell below the $70 psychological barrier to $68.69 a barrel, while WTI dropped under $60 to $58.63. The market remaine… read more...

Power Rankings: Which Countries Matter Most To Crude Oil?

via: SeekingAlpha at 2019-05-26 11:26:02:000

By Bob Iaccino On March 1, we published a piece titled, "A Global Tour of Crude Oil: Which Countries Matter Most?" In that piece, we ranked countries in order of their influence over crude oil price movement. This was not meant to be a static list in terms of what country placed where, a… read more...

Crude Oil: Sell, And Sell Short

via: SeekingAlpha at 2019-05-25 05:38:19:000

The last month has been hard for holders of the United States Oil ETF ( USO ) with shares falling by over 11%, nearly half of which occurred in the last week. In this article, I will examine the nuances of the USO ETF and explain why price has been falling and why it is likely to continue to d… read more...

Crude Oil Falls On Inventory Builds And Bearish Sentiment In Commodities

via: SeekingAlpha at 2019-05-25 02:15:00:000

After falling to a low on the nearby NYMEX WTI crude oil futures contract at $42.36 in late December and just below $50 on the Brent contract, the prices of both petroleum benchmarks rise steadily reaching their most recent peaks in late April. WTI moved to a high at $66.60, and Brent's top wa… read more...

U.S. total rig count slides by 4, oil rigs fall 5

via: SeekingAlpha at 2019-05-24 09:05:35:000

The total count of active U.S. drilling rigs fell by 4 to 983 after shedding 3 in the prior two weeks, Baker Hughes says in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy… read more...

Crude Oil Backwardation: Theory, Facts And Myths

via: SeekingAlpha at 2019-05-24 07:51:52:000

This article is a follow-up to one I wrote a couple of years ago, " When Do Crude Futures Flip Into Backwardation?" I updated the statistics and added a section on price implications. I have noted in my reading of articles and in readers' comments a strong belief that backwardation leads to… read more...

WTI Weekly: Selling Interest At Key Support, Sell-Side Breakdown To 57.33s

via: SeekingAlpha at 2019-05-23 21:00:01:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last weeks WTI Weekly , the primary expectation for this week was for buy-side activity. This expectation did not play out as a re-test of last week&… read more...

EIA Tight Oil Estimates

via: SeekingAlpha at 2019-05-23 16:07:48:000

By Dennis Coyne The US Energy Information Administration publishes Tight Oil Production Estimates by Play each month (can be found at link above.) I noticed this month that the estimates seemed different than I, remembered so I checked earlier estimates I had saved on my computer. The ch… read more...

Oil hit with year's biggest drop as trade war sparks demand worries

via: SeekingAlpha at 2019-05-23 12:13:08:000

Crude oil suffered its worst trading session of the year , as losses mounted throughout the day amid a burst of pessimism over U.S.-China trade tensions that pushed investors away from risky assets. More news on: Hess Corporation, Continental Resources, Inc., Devon Energy Corporation, Ene… read more...

Oil - Lower Refinery Throughput Today Just Means Higher Throughput Tomorrow

via: SeekingAlpha at 2019-05-23 10:29:29:000

Welcome to the lower today just means higher tomorrow edition of Oil Markets Daily! Refinery throughput has been disappointing. So disappointing that readers are starting to wonder if US refinery throughput will ever increase. While logically, that's an extremely laughable thought, one c… read more...

Trade tensions, soaring U.S. stockpiles send crude oil prices plunging

via: SeekingAlpha at 2019-05-23 06:17:25:000

Crude oil prices are on pace for their biggest daily and weekly declines in six months as rising U.S.-China trade tensions dampen the global demand outlook; WTI -4.2% to $58.85/bbl, Brent -3.5% to $68.46/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ET… read more...

U.S. crude -3% after EIA data shows unexpected surge in inventories

via: SeekingAlpha at 2019-05-22 08:43:07:000

Crude oil prices plunge after U.S. crude inventories surged last week to their highest level since July 2017 and domestic oil production increased toward another record high; WTI -3% to $61.24/bbl, Brent -2.2% to $70.56/bbl. More news on: The United States Oil ETF, LP, Energy Sele… read more...

Crude and Gasoline inventories build sharply

via: SeekingAlpha at 2019-05-22 06:31:12:000

EIA Petroleum Inventories : Crude +4.7 M barrels vs. -0.6M consensus, +5.4M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News o… read more...

Russia's Oil Exports To U.S. 'On Steroids,' Complicating OPEC+ Deal

via: SeekingAlpha at 2019-05-21 15:06:06:000

Saudi Aramcos (ARMCO) plan to drain U.S. crude oil inventories in 2019 failed. U.S. imports of crude oil from Saudi Arabia did in fact drop in 2019, but the reduction was more than offset by increased domestic production ( see analysis ). But as U.S. refinery utilization is expected … read more...

OPEC Exports Hit 4-Year Low As Venezuela And Iran Drops Further

via: SeekingAlpha at 2019-05-21 14:16:46:000

Welcome to the new low edition of Oil Markets Daily! OPEC exports are hitting a 4-year low this month with Iranian exports falling below 1 mb/d and Venezuela exports falling to a new record low. Source: Kpler, HFI Research While the final May export figures are still early, we are se… read more...

U.S. crude supply rose 2.4M barrels last week, API says

via: SeekingAlpha at 2019-05-21 13:00:16:000

The American Petroleum Institute reportedly shows a build of 2.4M barrels of oil for the week ending May 17, following an 8.6M-barrel build in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN,… read more...

Open Insights: Jeddah Mind Tricks At OPEC's Meeting

via: SeekingAlpha at 2019-05-20 16:47:32:000

Continuing our weekly series, Open Insights, we'll take a look at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of May 10, 2019 and also discuss the recent OPEC meeting in Jeddah, Saudi Arabia. EIA reported a crude draw of 5.4M barrels for the week as both exports and import… read more...

Oil rises as OPEC+ seen keeping output cut plans

via: SeekingAlpha at 2019-05-19 22:59:24:000

Crude futures climbed 1.4% to $63.78/bbl overnight after Saudi Energy Minister Khalid al-Falih indicated there was consensus among OPEC and allied oil producers to drive down crude inventories "gently," although his country would remain responsive to the needs of what he called a fragile m… read more...

OPEC: Signs Of A Major Oil Deficit

via: SeekingAlpha at 2019-05-18 13:09:13:000

The big three determinants of the health of the oil industry today are 1) global demand, 2) US output, and 3) OPEC output. Each month, OPEC as an organization releases their own forecast for how the oil industry looks, and while they dont forecast their own production as a team, they… read more...

OPEC: Signs Of A Major Oil Deficit

via: SeekingAlpha at 2019-05-18 13:09:13:000

The big three determinants of the health of the oil industry today are 1) global demand, 2) US output, and 3) OPEC output. Each month, OPEC as an organization releases their own forecast for how the oil industry looks, and while they dont forecast their own production as a team, they… read more...

Oil Inventories Jump

via: SeekingAlpha at 2019-05-18 09:43:51:000

On Wednesday, the U.S. Energy Information Administration released its Weekly Petroleum Status Report, which showed a significant jump in U.S. crude oil inventories: Total oil stocks, including the Strategic Petroleum Reserve ("SPR"), jumped by 12.9 million barrels, which represented one … read more...

Oil Inventories Jump

via: SeekingAlpha at 2019-05-18 09:43:51:000

On Wednesday, the U.S. Energy Information Administration released its Weekly Petroleum Status Report, which showed a significant jump in U.S. crude oil inventories: Total oil stocks, including the Strategic Petroleum Reserve ("SPR"), jumped by 12.9 million barrels, which represented one … read more...

The Messy Politics In Crude Oil

via: SeekingAlpha at 2019-05-18 02:15:00:000

Over the recent trading sessions, many commodities prices have slipped after trade negotiations between the US and China hit a roadblock. The slow pace of talks and claims that the Chinese negotiators backtracked on parts of a deal where the US thought they had an agreement led to new tariffs … read more...

The Messy Politics In Crude Oil

via: SeekingAlpha at 2019-05-18 02:15:00:000

Over the recent trading sessions, many commodities prices have slipped after trade negotiations between the US and China hit a roadblock. The slow pace of talks and claims that the Chinese negotiators backtracked on parts of a deal where the US thought they had an agreement led to new tariffs … read more...

The Physical Oil Market Is Saying We Are About To See The Largest Crude Storage Draw Since 2011

via: SeekingAlpha at 2019-05-17 16:48:25:000

Note: This article was first published to HFI Research subscriber. This is part of our new Oil Market Fundamental daily report. Oil prices are pulling back slightly today with Brent underperforming WTI and narrowing the Brent-WTI spread. The move today appears to be speculators dumping lon… read more...

The Physical Oil Market Is Saying We Are About To See The Largest Crude Storage Draw Since 2011

via: SeekingAlpha at 2019-05-17 16:48:25:000

Note: This article was first published to HFI Research subscriber. This is part of our new Oil Market Fundamental daily report. Oil prices are pulling back slightly today with Brent underperforming WTI and narrowing the Brent-WTI spread. The move today appears to be speculators dumping lon… read more...

Oil Prices Will Move Back To The $50s

via: SeekingAlpha at 2019-05-17 10:49:19:000

In my last article , I suggested a few trades and we can see it all played out quite well. By putting a stop loss at $60.30, it was suggested to take a buying position that should give $2-3 - WTI touched $63 recently. However, I stressed on selling it once it reaches a particular level ($64… read more...

U.S. rig count trimmed by 1, oil rigs drop 3

via: SeekingAlpha at 2019-05-17 09:14:28:000

The total count of active U.S. drilling rigs fell by 1 to 987 after dropping by 2 a week ago, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energ… read more...

Crude Oil: This Trend Will End

via: SeekingAlpha at 2019-05-17 07:48:56:000

This week, the EIA reported a few potentially bearish short-term fundamental metrics for the oil markets ( USO ). Despite the immediate short-term fundamentals, crude prices have turned higher and appear to be turning a profit for long traders for the week. In this article, I will take a step … read more...

Oil Market Uncertainties Imply Risk-Off Positioning: Don't Just Whistle Dixie

via: SeekingAlpha at 2019-05-17 04:41:31:000

OPEC released its Monthly Oil Market Report ((MOMR)) for May, which provides its estimates of inventories and the future demand for OPEC oil. While its figures show that recent supplies are more than adequate, the outlook is more uncertain. OPEC reported that commercial OECD global oil inv… read more...

Rising Tensions In The Middle East: Implications For Oil

via: SeekingAlpha at 2019-05-17 01:26:19:000

Rising geopolitical tensions have the Middle East on edge. Alleged sabotage attacks on oil tankers and other facilities in the region are straining already tense relations between the U.S. and Iran. Michael O'Brien , Portfolio Manager at TD Asset Management looks at the implications for … read more...

U.S. crude climbs to two-week high amid Middle East tension

via: SeekingAlpha at 2019-05-16 12:05:29:000

Crude oil prices rose for a third straight day, sparked by a stronger stock market and rising tension between Iran and U.S. allies that threaten to disrupt oil supplies and shipments in the Middle East. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&… read more...

Crude Oil Processing Spreads Are Not Bearish

via: SeekingAlpha at 2019-05-16 02:30:00:000

The price of crude oil has corrected from the high at the end of April that took the price of nearby June NYMEX futures to a peak at $66.60 per barrel on April 23. Crude oil declined to a low at $60.04 on May 6, and on May 15 the price was at just over $62 on June futures. Technical support fo… read more...

The Trade War Hits Oil. Where Does Crude Go From Here?

via: SeekingAlpha at 2019-05-16 02:10:02:000

By Kathy Lien At a Glance As equity markets experience sell-off on trade war news, oil may follow them lower. The impact for oil in U.S.-China tensions could be far greater than in past trade wars. This has been a great year for oil. The price of crude is up 30 percent from its D… read more...

OIL: The Bullish Picture Brightens

via: SeekingAlpha at 2019-05-15 22:26:36:000

Investment thesis Despite recent oil market correction and dipping net speculative positioning on NYMEX crude oil contracts, the iPath S&P Crude Oil Total Return Index ETN ( OIL ) remains sustained, following growing tensions in the Middle East and declining crude and refining stocks. … read more...

Crude oil climbs as investors overlook jump in U.S. crude stockpiles

via: SeekingAlpha at 2019-05-15 12:12:39:000

Crude oil prices gained despite bearish data showing U.S. oil inventories at a 20-month high, with Middle East tensions continuing to rise as Saudi Arabia said armed drones struck a critical oil pipeline, two days after the sabotage of oil tankers near the United Arab Emirates. More n… read more...

Oil inventories build sharply

via: SeekingAlpha at 2019-05-15 06:32:41:000

EIA Petroleum Inventories : Crude +5.4M barrels vs. -0.8M consensus, -4.0M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

Do Not Fear (Or Hope For) An Oil Price Spike

via: SeekingAlpha at 2019-05-15 06:26:30:000

In recent days attacks on oil infrastructure in and around Saudi Arabia have created oil price volatility and fear of an oil price spike due to a possible supply disruption. These attacks are meant to cause fear, uncertainty and volatility. They have caused little damage and have little hope f… read more...

OPEC April Production Data

via: SeekingAlpha at 2019-05-15 01:20:09:000

The data below was taken from the OPEC Monthly Oil Market Report . All data is through April 2019 and is in thousand barrels per day. The data is crude only, that is it does not include condensate. Total OPEC production hardly moved in April, down a mere 3,000 barrels per day. Algeria pea… read more...

IEA cuts oil demand outlook

via: SeekingAlpha at 2019-05-15 01:03:39:000

The surplus of supply over demand that the oil market saw in the first quarter could "flip" into a deficit in the second, according to the IEA's latest monthly report. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude … read more...

Capture The Upside In Crude Oil With USOU

via: SeekingAlpha at 2019-05-14 19:35:37:000

Two weeks ago, I wrote an article in which I argued that even though the crude fundamentals were bullish, the technical and statistical factors suggested that an immediate pullback was in the cards. I normally dont get that lucky in my timing, but since then, the price of WTI is off … read more...

U.S. crude supply makes surprise 8.63M-barrel gain - API

via: SeekingAlpha at 2019-05-14 13:31:31:000

The American Petroleum Institute reportedly shows an increase of 8.63M barrels of oil in U.S. stockpiles last week, vs. the previous week's build of 2.8M barrels. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN… read more...

Open Insights: EIA's Weekly Petroleum Report (05/03/19)

via: SeekingAlpha at 2019-05-13 17:24:18:000

Continuing our weekly series, Open Insights, we'll take a look at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of May 3, 2019. EIA reported a crude draw of 4.0M barrels for the week. Imports declined precipitously by 0.7M barrels per day (bpd) from last week and reached 6.7… read more...

U.S. Crude Imports From Saudi Arabia - The Good Stuff Isn't Even Here Yet

via: SeekingAlpha at 2019-05-13 12:54:58:000

Welcome to the good stuff edition of Oil Markets Daily! The media was quite excited last week to see that the weekly US crude imports from Saudi hit the lowest level since the mid-1980s. But on a 4-week moving average basis, we are still seeing imports from Saudi average ~500k b… read more...

3 Reasons Why Oil Should Remain Over $55 Per Barrel

via: SeekingAlpha at 2019-05-13 09:00:38:000

The impact of the trade dispute between the US and China and a stronger dollar has weighed on the prices of many of the members of the commodities asset class. The prices of metals have moved lower over the past weeks, and copper which is a bellwether for economic growth or contract fell from … read more...

A Bullish Outlook For Oil Investors

via: SeekingAlpha at 2019-05-10 22:23:16:000

Even though crude prices have been falling recently, with investors racked by fears regarding global growth and rising US output, new data coming out suggests that any real degree of pessimism is misplaced. Thanks to a new report , courtesy of the EIA (Energy Information Administration), it i… read more...

A Bullish Outlook For Oil Investors

via: SeekingAlpha at 2019-05-10 22:23:16:000

Even though crude prices have been falling recently, with investors racked by fears regarding global growth and rising US output, new data coming out suggests that any real degree of pessimism is misplaced. Thanks to a new report , courtesy of the EIA (Energy Information Administration), it i… read more...

Physical Oil Market Tightness Pushed Us To Go Long Oil

via: SeekingAlpha at 2019-05-10 12:45:03:000

Note: This article was first released to HFI Research subscribers via our new premium oil market daily. This is the report we published. The Brent timespreads increased again in backwardation with the 1-2 eclipsing $1/bbl earlier today. While the global oil market tightness is on full disp… read more...

Is Sugar Heading For Another Test Of The 2018 Low?

via: SeekingAlpha at 2019-05-09 10:53:06:000

In September 2018, the price of sugar traded to its lowest price since 2008 when it slipped to a low at 9.83 cents per pound. Before August of last year, the sweet commodity that trades on the Intercontinental Exchange had not traded below 10 cents per pound in over a decade since June 2008. A… read more...

Weekly Oil Storage Report: Adjustment Will Come Home To Roost

via: SeekingAlpha at 2019-05-08 15:07:46:000

Note: This article was published after last week's EIA oil storage report. This was first published to HFI Research subscribers on May 4th. Another report and another unexplainable positive adjustment factor that added close to half the build. For the second week in a row, the adjustment i… read more...

Oil Prices, Volatility, And OPEC

via: SeekingAlpha at 2019-05-08 12:09:55:000

Oil prices have seen a whopping 30 percent increase this year with a recent sharp hike as Trump administration canceled waivers given to countries to import Iranian crude. Other factors such as an unfolding crisis in Venezuela, OPEC's production cuts and war in Libya have also helped. Ho… read more...

Oil settles higher after surprise drop in U.S. crude stockpiles

via: SeekingAlpha at 2019-05-08 11:39:39:000

U.S. crude oil bounced off one-month lows to finish higher after the government reported domestic inventories fell by 4M barrels , compared with an expected 1.2M-barrel increase; WTI settled +1.2% to $62.12/bbl, Brent +0.7% to $70.37/bbl. More news on: The United States Oil ETF, LP,… read more...

Crude inventory unexpectedly falls

via: SeekingAlpha at 2019-05-08 06:31:12:000

EIA Petroleum Inventories : Crude -4.0M barrels vs. +1.2M consensus, +9.9M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

The Physical Oil Market Is Well-Supplied

via: SeekingAlpha at 2019-05-07 16:04:51:000

The U.S. Department of Energy released its May Short-Term Energy Outlook (STEO). The inventory figures they report reveal that the U.S. and global physical oil markets are well-supplied and are expected to remain that way, notwithstanding sanctions on Iran and Venezuela. U.S. Inventories … read more...

U.S. crude supply rose 2.8M barrels last week, API says

via: SeekingAlpha at 2019-05-07 13:00:34:000

The American Petroleum Institute reportedly shows a build of 2.8M barrels of oil for the week ending May 3, vs. a 6.8M-barrel build in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy … read more...

DBO Could Be Ready To Tumble

via: SeekingAlpha at 2019-05-07 07:22:45:000

Investment thesis Since last week, the Invesco DB Oil ETF ( DBO ) is on a correction path, but the Fund remains in a bullish trend configuration. Despite that, most indicators are pointing towards the end of this trend, with the acceleration of US crude storage, dipping net spec positionin… read more...

Trade doubts, demand concerns send crude oil -2%

via: SeekingAlpha at 2019-05-07 06:45:58:000

Crude oil prices plunge as rising worries over U.S.-China trade talks spark concerns about global growth and demand for oil: WTI -1.8% to $61.11/bbl, Brent -2% to $69.86/bbl. More news on: Exxon Mobil Corporation, Chevron Corporation, Royal Dutch Shell plc, Energy stocks news, Commo… read more...

Crude Oil Finally Stalls - VLO Looks Like A Buy At Under $90

via: SeekingAlpha at 2019-05-07 04:43:34:000

On April 23, the price of June NYMEX crude oil futures rose to a high at $66.60 on the active month June futures contract. On April 25, the price of July Brent futures hit a high at $74.73. While the continuous contract high in NYMEX futures was at $66.60 in late April, Brent rose to a peak at… read more...

Buy The Pullback In Crude Oil

via: SeekingAlpha at 2019-05-06 22:55:32:000

Over the last few weeks, WTI ( USO ) has seen a pullback in price with the front-month futures contract falling by about $4/bbl. If youre tuned into the financial pundits, youve probably heard this pullback attributed to a number of different things: trade wars, correlations wi… read more...

Oil reverses to close higher amid rising U.S.-Iran tensions

via: SeekingAlpha at 2019-05-06 11:43:50:000

Crude oil futures closed higher in a volatile session as rising Middle East tensions ended up outweighing Pres. Trump's threat that he may raise tariffs on Chinese goods: July WTI settled +0.5% to $62.25/bbl after spilling as low as $60.04, and July Brent ended +0.6% to $71.24/bbl aft… read more...

Weekly Energy Recap: Assessing The Impact Of Sanctions Waivers For Buyers Of Iran's Oil

via: SeekingAlpha at 2019-05-06 02:28:55:000

Volatility heightened last week, which closed with prices at their lowest in almost a month, after hitting a six-month high a week ago. Prices slumped after a buildup in US crude inventories by 10 million barrels, amid record-high US oil production to 12.3 million bpd. That took the edge o… read more...

This Week In Money - May 4, 2019

via: SeekingAlpha at 2019-05-04 22:11:46:000

Ross Clark Stock markets, gold, silver, copper, crude oil Mike Swanson Junior gold miners, markets Tim Wood The bubble of everything Bob Hoye Stock markets the big picture Larry Reaugh - President & CEO of… read more...

WTI Weekly: Retracement Rally To 64.75s Before Resumption Of Sell-Side Trend To 60.95s

via: SeekingAlpha at 2019-05-03 21:18:42:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI's price action. As noted in last week's WTI Weekly , the primary expectation for this week was for sell-side activity following last week's stopping point high development and long li… read more...

The Physical Oil Market Is Screaming Undersupply

via: SeekingAlpha at 2019-05-03 14:38:23:000

Note: This article was published as Oil Market Fundamentals 5/3, which is a new daily oil market report we publish to HFI Research subscribers. ----- We are seeing quite the radical divergence between flat prices and physical timespreads again. This isn't the first time this has happened, … read more...

Drilling rig count drops 1 but oil rigs up 2, Baker Hughes says

via: SeekingAlpha at 2019-05-03 09:15:53:000

The total count of active drilling rigs in the U.S. stabilized in the past week, falling by 1 to 990 in the latest survey from Baker Hughes after shedding 31 rigs in the previous two weeks. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P … read more...

Open Insights: EIA's Weekly Petroleum Report (04/26/19)

via: SeekingAlpha at 2019-05-03 02:55:51:000

(For reference, we recently updated our oil analysis in our latest quarterly letter which can be found here ). Continuing our weekly series, Open Insights, we'll take a look at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of April 26, 2019. EIA reported a crude build of … read more...

U.S. crude slides nearly 3% to settle at one-month low

via: SeekingAlpha at 2019-05-02 10:52:58:000

Crude oil prices plunge to their lowest levels in a month as the fallout from surging U.S. production keeps concerns over a global supply crunch on the back burner. More news on: Energy Select Sector SPDR ETF, The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN… read more...

U.S. oil ban on Iran begins

via: SeekingAlpha at 2019-05-02 01:42:12:000

U.S. waivers on purchasing Iranian oil expired overnight for eight countries, including Iran's main oil customer, China. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Top stock market new… read more...

Technically Speaking For May 1

via: SeekingAlpha at 2019-05-01 13:24:18:000

News from the EU is mixed. Sentiment continues to decline. Here's a chart of the data: The drop started at the tail-end of 2017 and has been heading consistently lower since. Here's a chart of four major sectors: All are weaker. Industrial (top left) and consumer (bottom left) are especial… read more...

Oil: Mind Demand

via: SeekingAlpha at 2019-05-01 10:10:11:000

Last Wednesday on April 24, the U.S. Energy Information Administration ("EIA") released its Weekly Petroleum Status Report, which I follow closely in order to understand U.S. oil demand and supply dynamics over time. I will analyze today's (May 1) report in a separate article; but first, I w… read more...

U.S. Oil Production Disappoints To The Downside In February

via: SeekingAlpha at 2019-05-01 07:33:35:000

Welcome to the disappointing edition of Oil Markets Daily! EIA 914 was released today and US oil production moved lower m-o-m to 11.682 mb/d. This was a drop of 189k b/d from January's volume of 11.871 mb/d. This also marks the first month since last year that the weekly US oil productio… read more...

Oil inventories build sharply

via: SeekingAlpha at 2019-05-01 06:31:19:000

EIA Petroleum Inventories : Crude +9.9M barrels vs. +1.5M consensus, +5.5M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

U.S. crude supply rose 6.8M barrels for second straight week, API says

via: SeekingAlpha at 2019-04-30 12:50:12:000

The American Petroleum Institute reportedly shows a build of 6.8M barrels of oil for the week ending April 26, vs. a nearly identical build in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN,… read more...

Oil rises on Venezuela turmoil, possible Saudi support for extended cuts

via: SeekingAlpha at 2019-04-30 12:08:57:000

Crude oil prices settle higher as Saudi Arabia suggested OPEC's production cuts could last beyond June and as Venezuela's opposition leader calls on the military to help end Nicolas Maduro's rule; WTI +0.7% to $63.91/bbl, Brent +1.1% to $72.80/bbl. More news on: The United Stat… read more...

Oil Update - April 2019

via: SeekingAlpha at 2019-04-30 02:17:29:000

My forecast for May is that the West Texas Intermediate oil price will range between $62.50 and $72.50 per barrel. The range is $5.00 higher than last month's forecast. After the US administration began the process of ending waivers on the Iran sanctions, prominent pundits have had a difficu… read more...

Peter Schiff Talks Oil And Inflation (Video)

via: SeekingAlpha at 2019-04-30 01:35:52:000

By SchiffGold Peter Schiff recently appeared on RT to talk about rising oil prices, how they relate to inflation and what it could mean for the US economy. President Trump has been pushing to limit Iranian oil exports as much as possible. Peter said the president needs to get his priorit… read more...

Weekly Energy Recap: Russian Crude Disruption Fails To Lift Oil Market

via: SeekingAlpha at 2019-04-29 18:59:45:000

Last week started with a major bullish sentiment in the oil market, after the US said it was halting sanctions waivers on Iranian crude exports. This drove Brent prices to a five-month high, touching $75 per barrel, although they dropped by the end of the week to $72.15. Though oil prices di… read more...

3 Things Driving Oil Prices Right Now

via: SeekingAlpha at 2019-04-29 11:33:42:000

1. Goodbye, Iran Oil Import Waivers. Hello, Higher Energy Prices? Besides the Occidental Petroleum ( OXY ) bidding war with Chevron ( CVX ) for fellow producer Anadarko Petroleum ( APC ), the big energy news from last week is that President Donald Trump, as expected, moved to end all sanct… read more...

Oil extends decline, Saudis need higher prices

via: SeekingAlpha at 2019-04-29 01:08:40:000

Crude futures fell 0.7% to $62.87/bbl overnight, extending a 3% slump from Friday that ended weeks of rallying, after President Trump demanded that OPEC raise output to soften the impact of U.S. sanctions against Iran. More news on: iShares MSCI Saudi Arabia Capped ETF, The United St… read more...

This Week In Money - April 27, 2019

via: SeekingAlpha at 2019-04-27 21:24:02:000

Ross Clark Stock markets, gold, oil. Eric Hadik 40 year cycle, equities. Ted Dixon Stalled energy projects, tax reform. Larry Reaugh - President & CEO of American Manganese Inc. Craig Goodwin - President, Director and Foun… read more...

Oil Prices Are Off To The Races

via: SeekingAlpha at 2019-04-27 08:16:11:000

President Trumps startling policy swing in support of Libyan strongman Khalifa Haftars siege of Tripoli dumbfounded western diplomatic circles . Over the past several years, the former commander in Muammar Gaddafis army has benefited from Russian financial support and … read more...

The U.S. Ends Iranian Oil Waivers. So Why Did Oil Prices Drop?

via: SeekingAlpha at 2019-04-26 23:49:41:000

In today's episode of Market Week in Review, Head of AIS Business Solutions Sophie Antal Gilbert was joined by Chief Investment Strategist Erik Ristuben. Together, they talked U.S. GDP, earnings seasons and Iranian oil waivers. U.S. GDP growth numbers blow past expectations Ristuben f… read more...

WTI Weekly: False Breakout To 66.60s Above Last Week's Resistance

via: SeekingAlpha at 2019-04-26 21:29:42:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last weeks WTI Weekly , the primary expectation for this week was for neutral to sell-side activity following the recent development of a stopping po… read more...

U.S. rig count tumbles by 21, oil count sheds 20, Baker Hughes says

via: SeekingAlpha at 2019-04-26 09:15:35:000

The total count of active drilling rigs in the U.S. tanked by 21 to 991 after falling by 10 in the previous week, Baker Hughes says in its latest survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, En… read more...

Trump tells OPEC to bring prices down

via: SeekingAlpha at 2019-04-26 06:03:54:000

Speaking to reporters, the president says he's been on the horn with OPEC, and told the cartel he wants lower prices for crude. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Stocks on the m… read more...

A Few Predictions For Crude Oil's Price Trajectory And Impact On The Energy Space, Part 3

via: SeekingAlpha at 2019-04-26 04:00:00:000

This is the last part of a 3-part series of articles. In the first article, I reviewed a paradigm shift in global oil production and pricing, and explained how that shift took WTI from the mid-$40s in January 2019 to the mid-$60s now. In Part 2, I provided predictions for oil pricing in 2019… read more...

A Barbarous Relic, Indeed

via: SeekingAlpha at 2019-04-26 01:43:51:000

In my 2014 whitepaper , I called oil-indexing of LNG contracts a "barbarous relic." The basic idea is that since oil prices and gas prices are driven by very different supply and demand fundamentals (and increasingly so), oil values and gas values diverge systematically, by large and varying … read more...

OPEC, U.S. Shale Output At Odds As World Faces Tighter Oil Market

via: SeekingAlpha at 2019-04-26 01:02:04:000

Original Post By Stuart Burns What a difference a month makes in commodity markets. Just a month back, we reviewed the delicate balance OPEC was facing in trying to drive prices higher without having to make further cuts in output. It seemed every time they squeezed the market … read more...

Schlumberger's Predicted Shale Slowdown Is Now A Bust - Baker Hughes Offshore Rig Count Is Now Up 35%

via: SeekingAlpha at 2019-04-25 08:44:57:000

The number to watch is not rig-count, fracking-crew count, or even Black Swan sightings; its initial production net of legacy loss*. In October 2018 the CEO of Schlumberger warned of a possible slowdown in U.S. Shale. Good call on news that became obvious in November; for an upda… read more...

Crude Oil Has Potentially Peaked

via: SeekingAlpha at 2019-04-25 06:43:55:000

Over the last few months, crude oil ( USO ) has demonstrated incredible strength with a rally in flat price of almost $20/bbl, or around 44%. With such a substantial move to the upside, the contrarian investor needs to be asking: have we reached a peak? Has this move gone too far? To start o… read more...

A Few Predictions For Crude Oil's Price Trajectory, Part 2

via: SeekingAlpha at 2019-04-25 04:48:07:000

This is Part 2 of a 3-part series of articles. In the first article, I reviewed a paradigm shift in global oil production and pricing, and explained how that shift took WTI from the mid-$40s in January 2019 to the mid-$60s now. In this Part 2, I will provide predictions for oil pricing in 20… read more...

All Oil Funds Are Not Created Equal

via: SeekingAlpha at 2019-04-25 02:40:53:000

Our recent article highlighted the stellar returns earned this year by exchange traded funds tracking crude oil futures. Contango, the inherent cost of holding these ETFs, was front and center in the article. We pointed to three ETFs designed to curtail the deleterious effect of contango a… read more...

Oil trickles higher again

via: SeekingAlpha at 2019-04-25 00:29:04:000

Oil prices are up slightly again after finishing yesterday not far from six-month highs when traders digested data showing U.S. crude stockpiles surged to their highest levels since October 2017. The supply read alleviated some fears of tight supply due to the OPEC output cuts and recent U.S… read more...

Don't Assume Iran Exports Will Go To Zero

via: SeekingAlpha at 2019-04-24 14:00:20:000

Welcome to the ' it won't be zero edition' of Oil Markets Daily! The Trump administration surprised everyone on Monday when it announced that the Iranian sanction waivers issued to 8 countries back in November 2018 will no longer be extended. This jolted oil prices higher and sent Brent t… read more...

Reading The Tea Leaves In Crude Oil

via: SeekingAlpha at 2019-04-24 10:24:05:000

The path of least resistance of the price of crude oil can impact many different markets across all asset classes. When it comes to other commodities, crude oil has a substantial impact on the production process. Rising or falling crude oil prices can also affect the prices of commodities we d… read more...

Corn - Energy Says Higher, Supplies Say Lower While Trade And The Weather Will Settle The Battle

via: SeekingAlpha at 2019-04-24 10:18:45:000

The United States is the world's leading producer and exporter of corn. Anyone who has driven across the fertile plains of the US knows that there are seemingly endless stretches where corn is growing on both sides of the road during the spring and summer season. While corn is a stable for f… read more...

Oil: The Russia Conundrum

via: SeekingAlpha at 2019-04-24 09:26:19:000

Sometimes rumors in a market, especially one as volatile as oil, can be more trouble than the bite should those same rumors end up being true. In other cases, the opposite is true, and it can all too often be difficult to tell which case will be which. In the latest rumblings that are pointing… read more...

A Few Predictions For Crude Oil's Price Trajectory

via: SeekingAlpha at 2019-04-24 06:41:03:000

Yes, I know that predicting future oil prices is treacherous business but Im going to attempt this fools errand anyway. Indeed, I am going to suggest that we are in the midst of a paradigm shift in global oil production and pricing, a shift that very few experts in the field … read more...

Oil inventories top estimates

via: SeekingAlpha at 2019-04-24 06:31:18:000

EIA Petroleum Inventories: Crude +5.5 M barrels vs. +1.3M consensus, -1.4M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News o… read more...

Brent-WTI Moves Higher As The Temperature Rises Between The U.S. And Iran

via: SeekingAlpha at 2019-04-24 02:00:00:000

The price differential between the Brent and West Texas Intermediate crude oil benchmarks is one piece of a complicated jigsaw puzzle when it comes to projecting the path of least resistance of the price of the energy commodity. Approximately two-thirds of the world's producers and consumers u… read more...

Turbocharging Sluggish Oil Sector Portfolios

via: SeekingAlpha at 2019-04-23 17:05:00:000

After a year of study, the Finance Ministry of the Norwegian central bank, which runs the worlds largest sovereign wealth fund, advised that it should dump its shares in all but the major oil and gas companies. The top-10 hit list includes some familiar U.S. oil stocks: Source: … read more...

U.S. crude supply rose 6.8M barrels last week, API says

via: SeekingAlpha at 2019-04-23 12:50:09:000

The American Petroleum Institute reportedly shows a build of 6.86M barrels of oil for the week ending April 19, vs. a draw of 3.09M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN,… read more...

Oil adds to gains as OPEC said cautious in offsetting Iran sanctions

via: SeekingAlpha at 2019-04-23 12:13:33:000

Crude oil prices extend yesterday's sharp rally , with WTI +1.1% to settle at $66.30/bbl and Brent +0.6% to $74.51/bbl, as investors continue to parse the Trump administrations decision to end waivers allowing imports of Iranian oil. More news on: The United States Oil ETF, LP… read more...

Odd Correlation Between Oil And The Dollar

via: SeekingAlpha at 2019-04-23 05:00:25:000

It used to be said that a strong dollar meant weaker oil prices and vice versa, but a lot has changed in that relationship in the last year. As the dollar kept rallying, the oil market stayed firm as the whiff of new Iran oil sanctions kept oil prices stronger than they otherwise might have be… read more...

The Bull Case For Oil Is Fading

via: SeekingAlpha at 2019-04-23 04:57:39:000

The bull case for oil ( USO ) is getting a bit too obvious. With geopolitical instability among many of the worlds leading oil producers making headlines across oil markets and the White House just announcing an end to Iranian oil wavers for huge consumers including both China and Ja… read more...

Oil Extends Gains While Markets Await Fresh Incentives

via: SeekingAlpha at 2019-04-23 03:58:28:000

Overview Financial centers that have been closed for the extended holiday have re-opened, but the news stream is light and market participants are digesting developments and positioning for this week's central bank meetings and the first look at Q1 US GDP. The US decision to end exemptions t… read more...

Weekly Oil Storage Report - Delaying The Inevitable

via: SeekingAlpha at 2019-04-22 12:29:11:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Source: EIA, HFI Research EIA reported a slightly bullish oil storage report this week. The crude storage draw of -1.396 mbbls was less than our forecast of -3.42 mbbls. The entire delta between our estimate and EIA… read more...

Crude oil hits YTD highs as U.S. ends Iran sanctions waivers

via: SeekingAlpha at 2019-04-22 06:13:00:000

The U.S. confirms it will end all waivers from Iran sanctions when they expire on May 2, prompting a threat from Iran to close the Strait of Hormuz. More news on: Exxon Mobil Corporation, Chesapeake Energy Corporation, Denbury Resources Inc., Energy stocks news, Commodities news, Stock… read more...

This Week In Money - April 19, 2019

via: SeekingAlpha at 2019-04-21 00:45:37:000

Ross Clark - Stock markets, the USD, precious metals and gasoline. Marc Faber - Bonds, commodities, and banks. Chris Vermeulen - Crude oil, gold miners. Tim Wood - NASDAQs new high. Larry Reaugh - President & CEO of American Manganese Inc. … read more...

WTI Weekly: Balance Development Continues Under Key Stopping Point High, 64.79s

via: SeekingAlpha at 2019-04-20 07:16:40:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last weeks WTI Weekly , the primary expectation for this week was for sell-side activity following the recent development of a stopping point high, 6… read more...

With Crude Oil Rallying, OIH Is Very Cheap

via: SeekingAlpha at 2019-04-20 02:30:00:000

Last week, the crude oil market became a lot more interesting as a $227.9 billion oil company declared its intention to acquire a petroleum company with a market cap that moved to just over the $30-billion level. I find it ironic that the timing of the move waited until the price of crude oil … read more...

U.S. rig count declines by 10 in Baker Hughes survey

via: SeekingAlpha at 2019-04-18 09:12:16:000

The total count of active drilling rigs in the U.S. tumbled by 10 to 1,022 after falling by three in the previous week, says the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Retur… read more...

U.S. rig count declines by 10 in Baker Hughes survey

via: SeekingAlpha at 2019-04-18 09:12:16:000

The total count of active drilling rigs in the U.S. tumbled by 10 to 1,022 after falling by three in the previous week, says the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Retur… read more...

DBO: The Bullish Thesis Is Intact

via: SeekingAlpha at 2019-04-17 10:24:46:000

Investment thesis Invesco DB Oil Fund ( DBO ) bullish momentum weakened last week. In spite of growing crude storage, DBOs advance is not over yet, given strong speculative builds and growing downside risks on the supply side. Since the colossal plunge of crude oil markets, DBO g… read more...

Oil inventories in-line with consensus

via: SeekingAlpha at 2019-04-17 06:32:33:000

EIA Petroleum Inventories: Crude -1.4 M barrels vs. -1.2M consensus, +7.0M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News o… read more...

The Charts Are Saying A Big Move Is Coming For Global Macroeconomic Conditions

via: SeekingAlpha at 2019-04-16 14:39:34:000

Welcome to the global macro edition of Oil Markets Daily! There's nothing like the truth. Economists and market participants can make forecasts all they want, but at the end of the day, the only thing that really matters is what the prices (for assets) are telling us. It's with this pers… read more...

U.S. crude supply fell 3.1M barrels last week, API says

via: SeekingAlpha at 2019-04-16 12:50:09:000

The American Petroleum Institute reportedly shows a draw of 3.09M barrels of oil for the week ending April 12, vs. a build of 4.1M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, En… read more...

The Invesco Oil ETF Is Best In Class

via: SeekingAlpha at 2019-04-16 12:20:16:000

The Invesco DB Oil Fund (DBO) is an interesting ETF in the crude oil ETF space. What makes DBO such a unique investment is that it tracks an index which attempts to optimize exposure to WTI futures. This process of optimization has outperformed similar indexes and seems to provide a unique for… read more...

Will Rising Energy Prices Lead To Higher Inflation?

via: SeekingAlpha at 2019-04-16 04:14:44:000

It happens whenever there's a sharp rise in gasoline or oil prices. Pundits focus on the increases and cry foul if broad inflation gauges don't confirm the price hikes at the pump. But it's short-sighted to assume that a spike in energy prices will automatically lead to higher inflation overal… read more...

Canadian Oil Stocks Could Outperform U.S. Oil Stocks

via: SeekingAlpha at 2019-04-15 21:06:15:000

By Keith Schaefer I cant believe Im saying this but I think Canadian oil stocks could outperform US oil stocks this year. The charts look great, and it looks like were coming out of maximum pessimism in the oilpatch. Thats where BIG GAINS are made. … read more...

If This Continues, Oil Is Going A Lot Higher

via: SeekingAlpha at 2019-04-15 04:25:38:000

Right now, global oil markets seem ecstatic. A big source for this enthusiasm is courtesy of OPEC, the massive oil cartel that has been working diligently to establish balance in the markets and prop up prices in the process. The end result, so far, is turning out well for oil bulls, as plumme… read more...

Open Square Fund Q1 2019 Letter: Running Through The Landscape

via: SeekingAlpha at 2019-04-14 20:35:50:000

Read more … read more...

This Week In Money - April 13, 2019

via: SeekingAlpha at 2019-04-13 21:45:33:000

Ross Clark US equity markets, and oil. Wolf Richter Bullish stock market, the automotive sector, collapsing real estate bubbles. Danielle Park Shorting Canadian banks, TSX Composite Index Larry Reaugh - President & CEO of American Mangan… read more...

Dollar Softens Awaiting U.S. Retail Sales

via: SeekingAlpha at 2019-04-13 03:48:07:000

The US dollar is lower against most major pairs except the Japanese yen and the Swiss franc. Risk appetite made a comeback this week and pushed the three currencies lower as investors shied away from safe havens. A strong start to the US earnings season with JPMorgan (JPM) and Wells Fargo (WFC… read more...

Russia Edition - When Is A Production Cut Not Really A Cut?

via: SeekingAlpha at 2019-04-12 11:01:54:000

Welcome to the Russian cut edition of Oil Markets Daily! The Russians put on quite the theatrics when it comes to OPEC+ production cut meetings. Alexander Novak, Russia's Energy Minister, put on quite the show late last year when he flew back to Moscow for an emergency meeting with Russi… read more...

The Oil Picture Is Looking Up

via: SeekingAlpha at 2019-04-12 09:23:27:000

By and large, the oil industry right now should be in a state of jubilation. In recent weeks, crude prices have soared, supported by fears related to supply outages or imminent declines in places like Venezuela, Iran, and Libya, combined by the prospect that demand this year might be stronger … read more...

U.S. rig count slips by 3 in latest Baker Hughes survey

via: SeekingAlpha at 2019-04-12 09:13:46:000

The total count of active drilling rigs in the U.S. falls by 3 to 1,022, resuming a pattern of declines following last week's one-time surge of 19, Baker Hughes reports in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath … read more...

The Addressable Market For Utility Energy Storage Could Scale To $800 Billion

via: SeekingAlpha at 2019-04-12 05:07:54:000

By Sam Korus, ARK Analyst, Industrial Elon Musk has stated that Tesla's (TSLA) energy storage business will be as large as its car business in the long term. 1 ARK's research shows that foregoing planned gas peaker plants and replacing them with utility scale energy storage could generate… read more...

Supply Fundamentals Point To Continued Oil Rally

via: SeekingAlpha at 2019-04-11 21:04:08:000

Is this oil rally the real thing, or are we in another head fake just before another fall to the low $50s? We can take a look at supply fundamentals, technicals and sentiment to try and triangulate whether this current oil rally has legs or not. Supply Well begin with supply fund… read more...

Gasoline Market Tightening In Latest EIA Energy Report

via: SeekingAlpha at 2019-04-11 03:19:33:000

Introduction After last week's surprising build of 7.2 million barrels in the oil market, we were wondering if this was an anomaly, the effects of the shipping channel disruptions, or just a timing issue regarding tanker offloads. Well, we added another 7 million barrels to oil inventories a… read more...

U.S. Oil On The Auction Block

via: SeekingAlpha at 2019-04-11 02:56:37:000

By Owain Johnson At a Glance U.S. oil traded in an electronic auction for the first time in March, with 17 energy companies participating Auction enables U.S. exporters to reach international audience The U.S. shale revolution has turned the global energy markets upside down. The… read more...

OPEC March Data And Saudi Report

via: SeekingAlpha at 2019-04-11 02:18:54:000

The below OPEC charts were taken from data in the OPEC Monthly Oil Market Report . All data is through March 2019 and is in thousand barrels per day. There was another big decline in OPEC production in March, down 534,000 barrels per day. The decline was mostly in Saudi Arabia, Venezuel… read more...

IEA: Hard to put finger on oil prices

via: SeekingAlpha at 2019-04-11 00:18:14:000

"As far as 2019 is concerned, amongst the analyst community there is an extraordinarily wide divergence of view as to how strong growth will be," the IEA said in its closely-watched monthly report. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ET… read more...

Oil inventories build sharply

via: SeekingAlpha at 2019-04-10 06:32:54:000

EIA Petroleum Inventories: Crude + 7.0 M barrels vs. +2.3M consensus, +7.2M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News… read more...

Saudi Arabia Pushes Oil Higher And Prepares For A Standoff

via: SeekingAlpha at 2019-04-10 02:30:00:000

The international crude oil market powers the world. Despite the trend towards more alternative sources of energy, petroleum continues to be, as Marc Rich once said, "the blood that flows through the veins of the earth." With more than half the world's reserves in the Middle East, the most tur… read more...

U.S. Oil Production Is Starting To Grow Again

via: SeekingAlpha at 2019-04-09 15:06:17:000

Welcome to the starting to grow edition of Oil Markets Daily! At the end of last year, we created a gauge to measure whether US oil production was increasing rapidly as the EIA weekly oil storage reports were suggesting (weekly + adjustment) or it stalled. We started to track the weekl… read more...

U.S. crude supply rose 4.1M barrels last week, API says

via: SeekingAlpha at 2019-04-09 12:55:06:000

The American Petroleum Institute reportedly shows a build of 4.1M barrels of oil for the week ending April 5, vs. a build of 3M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, New… read more...

Crude Fundamentals Are Now Bullish

via: SeekingAlpha at 2019-04-09 03:26:57:000

Simply said, there is a remarkable change afoot in the fundamentals of the North American petroleum markets. Specifically, we are witnessing a regime shift, as the market appears to be moving from fundamental bearishness to a more neutral or potentially bullish environment. This change has bee… read more...

Oil Prices Tick Up With Increased Geopolitical Uncertainty

via: SeekingAlpha at 2019-04-09 03:00:23:000

Hello, I am Tortoise Managing Director and Portfolio Manager Brian Kessens with this weeks QuickTake podcast . Last week both my yard and energy stocks ended in green. MLPs inched higher by a little over 1%, broad energy by 2.3% and producers gained 3.5%. Sentiment improved in part … read more...

Energy stocks sustain gains for third straight session as WTI jumps

via: SeekingAlpha at 2019-04-08 07:59:58:000

Energy stocks extend their three-day rally, as a dive in the U.S. dollar sparks both West Texas and Brent crude oil to five-month highs ; WTI +1.5% to $64/bbl, Brent +0.8% to $70.93/bbl. More news on: Laredo Petroleum, Inc., Crescent Point Energy Corp., Gran Tierra Energy Inc., E… read more...

The Daily Drilling Report's Monthly Almanac And Gazette: March 2019

via: SeekingAlpha at 2019-04-07 20:37:42:000

The Oilfield Almanac Oil ( WTI ) has made some very positive progress higher in the last month, in the face of what could have been some strong headwinds. The chart below shows a 12% gain for the period. Source: OilPrice, Chart by author Oil has laughed off some significant adverse i… read more...

This Week In Money - April 6, 2019

via: SeekingAlpha at 2019-04-06 22:03:43:000

Ross Clark - Stock markets, crude oil, palladium, bitcoin. Kevin Smith - Gold, silver, China, real estate, banks. Lobo Tiggre - Uranium, gold, junior miners. Larry Reaugh , - President & CEO of American Manganese Inc. Jim Pettit , - President & CEO… read more...

Dollar Rises On Strong U.S. Jobs Data

via: SeekingAlpha at 2019-04-06 03:28:42:000

The U.S. dollar is higher across the board against major pairs on Friday. The greenback got a boost from the March U.S. non-farm payrolls ((NFP)) report that showed the economy added 196,000 jobs and an upward revision to the February numbers. The wage component did not do as well with a lower… read more...

Why The '+' In OPEC+ Matters To Oil Markets

via: SeekingAlpha at 2019-04-06 02:05:51:000

By Bob Iaccino At A Glance After April OPEC meeting postponed, some contradictory statements from Russia and Saudi Arabia may show cracks in the cartel. A new term has emerged in the world of crude oil price analysis: "OPEC+". The Organization of Petroleum Exporting Countries and i… read more...

Crude Market's Bullish Thesis Prevails

via: SeekingAlpha at 2019-04-05 12:59:52:000

Introduction In my last note on OIL, I expected a pullback of OIL shares given looming recession signs. Since then and despite a build in US crude storage, OIL's bullish trend persisted, advancing for the fourth consecutive week and posting new yearly highs. In that vein and thanks to … read more...

Saudi Arabia Is Putting Down The Hammer On U.S. Crude Storage

via: SeekingAlpha at 2019-04-05 12:51:45:000

Welcome to the hammer edition of Oil Markets Daily! U.S. crude storage, that's the only thing the Saudis care about right now. If U.S. crude storage drops, oil prices go up. It's easy as 1-2-3 . But the recent closure of the Houston Shipping Channel is disrupting the flows of import… read more...

Energy stocks touch highest since November as crude climbs

via: SeekingAlpha at 2019-04-05 11:19:31:000

Energy stocks top today's leaderboard, with the S&P 500 energy index up as much as 1.8% intraday to its highest since Nov. 12 as WTI crude racks up its fifth straight weekly gain - longest winning streak since November 2017 - and Brent crude closes above $70/bbl for the first time in f… read more...

U.S. rig count surges by 19, Baker Hughes survey says

via: SeekingAlpha at 2019-04-05 09:14:07:000

The total count of active drilling rigs in the U.S. surges by 19 to 1,025, following six straight weeks of declines, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total … read more...

EIA Oil Inventory Analysis: April 3, 2019

via: SeekingAlpha at 2019-04-05 02:00:03:000

First Quarter Rebound The oil market has had quite a robust first quarter right along with equities as the Fed has pulled back from rate hikes, taken a more dovish tone, and significant progress has been made on the Trade Deal with China, likely completed during the second quarter. We clos… read more...

Another Tweet On Oil - The Track Record Is Not Bad

via: SeekingAlpha at 2019-04-04 02:30:00:000

The crude oil futures markets in both benchmark petroleum markets were ugly over the final three months of 2018. NYMEX WTI futures dropped from $76.90 per barrel in early October to a low at $42.36 in late December, a decline of 44.97% in a little under three months. At the same time, the pric… read more...

Crude inventory unexpectedly rise

via: SeekingAlpha at 2019-04-03 06:31:17:000

EIA Petroleum Inventories: Crude + 7.2 M barrels vs. -0.4M consensus, +2.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News… read more...

Oil Prices: The Bull Case, The Bear Case, And Wildcards That Could Throw Off Everything

via: SeekingAlpha at 2019-04-03 04:00:10:000

At the start of October, $100 oil was the topic du jour, with Brent crude in the mid-$80s per barrel (bbl) and WTI sitting around $75/bbl. Sentiment quickly shifted as a confluence of factors combined to push WTI to a relative bottom of $42.53/bbl on Christmas Eve. So far this year, oil has re… read more...

U.S. crude supply rose 3M barrels last week, API says

via: SeekingAlpha at 2019-04-02 13:00:24:000

The American Petroleum Institute reportedly shows a build of 3M barrels of oil for the week ending March 29, vs. a build of 1.97M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, E… read more...

Crude oil keeps climbing, adding to five-month highs

via: SeekingAlpha at 2019-04-02 12:07:35:000

Crude oil futures forge ahead to fresh five-month highs amid continued signs of tightening supplies and fading worries over global economic growth. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy stocks ne… read more...

Surprise! Brazil Disappoints With February Oil Production Figures

via: SeekingAlpha at 2019-04-02 10:34:54:000

Welcome to the " never disappoints " edition of Oil Markets Daily! Another month of data for Brazil's oil production, and another disappointment. Brazil's oil production was lower m-o-m in February by ~142k b/d. This puts Brazil's oil production at 2.489 mb/d. Why is this signi… read more...

U.S. Oil Production Growth Stalls In Q1 2019

via: SeekingAlpha at 2019-04-01 15:18:23:000

Welcome to the US oil production growth stalled edition of Oil Markets Daily! EIA published the latest EIA 914 on Friday with a massive revision towards December which saw production get bumped up to 11.963 mb/d. But January production was published as lower m-o-m by 91k b/d to 11.872 mb… read more...

Crude oil builds on Q1 gains, hits five-month high

via: SeekingAlpha at 2019-04-01 07:02:34:000

Crude oil enjoys strong gains as the risk-on trade from Q1 spills over into the new quarter, with WTI +1.3% to a five-month high $60.95/bbl after enjoying its biggest quarterly gain in a decade and Brent +1.3% to $68.46/bbl. More news on: The United States Oil ETF, LP, Energy Sele… read more...

Oil Update - March 2019

via: SeekingAlpha at 2019-03-31 07:25:27:000

My forecast for April is that the West Texas Intermediate oil price will range between $57.50 and $67.50 per barrel. The range is $2.50 higher than last month's forecast. The price has been slowly creeping up as OPEC+'s cutbacks take effect. Saudi Arabia, in particular, is driving prices hig… read more...

April Optimism Could Be Key Turning Point For Global Growth

via: SeekingAlpha at 2019-03-30 00:24:00:000

By Ed Moya The US dollar climbed higher as markets balanced out global growth concerns along with optimism a trade deal was nearing between the two largest economies in the world. US economic data painted a mixed picture with the earlier data in the week confirming slowdown worries. The fo… read more...

WTI Weekly: Two-Sided Trade Continued Within Last Week's Balance

via: SeekingAlpha at 2019-03-29 20:26:05:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last weeks WTI Weekly , the primary expectation for this week was for sell-side activity given the recent stopping point high development at 60.39s. … read more...

Rig count posts back-to-back loss of 10, Baker Hughes says

via: SeekingAlpha at 2019-03-29 09:15:20:000

The total count of active drilling rigs in the U.S. falls by 10 for a second straight week to 1,006, the sixth consecutive week of declines, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ET… read more...

Crude prices resume upward march toward best quarter in a decade

via: SeekingAlpha at 2019-03-29 05:13:36:000

Crude oil prices resume their climb, putting U.S. West Texas Intermediate on track to gain ~33% for Q1 in its biggest quarterly rise since 2009 ; WTI +2.1% to $60.56/bbl, Brent +1.5% to $$68.82/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath… read more...

President to OPEC: 'Increase the flow'

via: SeekingAlpha at 2019-03-28 04:44:32:000

In case anyone hadn't noticed, the price of oil this year has quietly climbed from less than $50 per barrel to just over $60 a few days ago. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Commodities news, Top … read more...

Crude Oil: Expecting An Imminent Daily Cycle Low

via: SeekingAlpha at 2019-03-27 21:15:02:000

Although crude oil and equities have traded in a highly correlated fashion over the past while, crude oil has yet to print its first daily cycle low in its broader intermediate cycle. Both crude oil and equities printed their intermediate cycle lows on the 24 th of December last year. Monday,… read more...

Saudi Aramco buys majority sake in Sabic chemicals firm for $69B - WSJ

via: SeekingAlpha at 2019-03-27 08:01:30:000

Saudi Aramco has agreed to buy a 70% stake in Saudi petrochemicals firm Sabic for $69.1B, WSJ reports. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, News on ETFs, Read more … read more...

Recession Fears Overstated

via: SeekingAlpha at 2019-03-27 00:06:52:000

By Phil Flynn Despite Friday's sell-off due to an inversion in the yield curve, the oil demand numbers are telling us the exact opposite. As I pointed out in recent weeks, gasoline demand has been flourishing, with record low unemployment and rising wages. This comes as we should see anoth… read more...

U.S. crude supply rose 2M barrels last week, API says

via: SeekingAlpha at 2019-03-26 13:10:54:000

The American Petroleum Institute reportedly shows a build of 1.97M barrels of oil for the week ending March 22, vs. a draw of 2.13M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN,… read more...

U.S. crude oil pops above $60 as focus returns to tight global supply

via: SeekingAlpha at 2019-03-26 06:08:32:000

U.S. crude oil breaks above $60/bbl , as market participants regain focus on the tight supply situation and away from concerns about weaker demand from a potential economic slowdown; WTI +2.4% to $60.27/bbl, Brent +1.4% at $68.14/bbl. More news on: Exxon Mobil Corporation, Chevron Co… read more...

Oil's Ascent: The Ride Is Only Beginning

via: SeekingAlpha at 2019-03-26 05:02:50:000

Oil prices continue their gradual ascent, driven recently by significant inventory draws if the data presented by the EIA (Energy Information Administration) is correct. In its latest report , the organization estimated that total crude and petroleum product stocks fell significantly over the… read more...

3 Reasons I Am Not That Bearish On Crude Oil

via: SeekingAlpha at 2019-03-26 03:30:00:000

On March 21, the price of nearby May NYMEX crude oil futures traded to a new high for 2019 when the price hit $60.39 per barrel. The next day, selling hit both the crude oil and the stock markets. Crude oil had been rallying steadily since late December after an ugly fourth quarter for the ene… read more...

The Bull Market In Oil Nobody Is Appreciating

via: SeekingAlpha at 2019-03-25 20:10:57:000

I often say theres ALWAYS a bull market somewhere in energy, and right now it is in heavy oil . Heavy oil should and normally does trade at a discount to light oil because it is more expensive to refine. But now that gap is closing, and now heavy oil actually trades at a premium… read more...

Permian Growth Is Down 60% - Offshore E&P Stocks Are A Buy

via: SeekingAlpha at 2019-03-25 17:44:46:000

The proximate cause of the oil price bust starting in June 2014 was the explosion of shale oil production which carried on until March 2015 when production peaked at 5.87 million barrels per day, up one million in a year (calculated from EIA Drilling Productivity Report ). One theory is tha… read more...

Saudi Arabia Is Set To Drop Exports Even More

via: SeekingAlpha at 2019-03-25 15:03:43:000

Welcome to the not enough reduction edition of Oil Markets Daily! Saudi Arabia continues to be in the driver seat for the global oil markets. As the biggest oil exporter in the world, fluctuations in exports month-to-month could send markets into surplus or deficit. Over the last 3-mon… read more...

Beginning Of The End Of The Shale Oil Boom

via: SeekingAlpha at 2019-03-24 21:06:49:000

We may still be many years away from a permanent peak in US shale oil production. Even when shale oil production will eventually peak, I foresee a very gentle decline curve, despite many expectations to the contrary, which assume that because of the steep individual well decline rates, shale o… read more...

Oil slides from 2019 highs amid global economy worries

via: SeekingAlpha at 2019-03-22 11:45:42:000

Crude oil prices continued to retreat from four-month highs in the wake of lingering concerns of weakening future energy demand; WTI -1.6% to $59.04/bbl after peaking at $60.39 yesterday, Brent -1.3% at $66.96/bbl. More news on: Energy Select Sector SPDR ETF, The United States Oil ET… read more...

Oil slides from 2019 highs amid global economy worries

via: SeekingAlpha at 2019-03-22 11:45:42:000

Crude oil prices continued to retreat from four-month highs in the wake of lingering concerns of weakening future energy demand; WTI -1.6% to $59.04/bbl after peaking at $60.39 yesterday, Brent -1.3% at $66.96/bbl. More news on: Energy Select Sector SPDR ETF, The United States Oil ET… read more...

Oil slides from 2019 highs amid global economy worries

via: SeekingAlpha at 2019-03-22 11:45:42:000

Crude oil prices continued to retreat from four-month highs in the wake of lingering concerns of weakening future energy demand; WTI -1.6% to $59.04/bbl after peaking at $60.39 yesterday, Brent -1.3% at $66.96/bbl. More news on: Energy Select Sector SPDR ETF, The United States Oil ET… read more...

U.S. total rigs, oil rigs both post fifth straight weekly drop

via: SeekingAlpha at 2019-03-22 09:19:20:000

The total count of active drilling rigs in the U.S. tumbles by 10 to 1,016, falling for the fifth consecutive straight week, Baker Hughes reports in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total… read more...

U.S. total rigs, oil rigs both post fifth straight weekly drop

via: SeekingAlpha at 2019-03-22 09:19:20:000

The total count of active drilling rigs in the U.S. tumbles by 10 to 1,016, falling for the fifth consecutive straight week, Baker Hughes reports in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total… read more...

U.S. total rigs, oil rigs both post fifth straight weekly drop

via: SeekingAlpha at 2019-03-22 09:19:20:000

The total count of active drilling rigs in the U.S. tumbles by 10 to 1,016, falling for the fifth consecutive straight week, Baker Hughes reports in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total… read more...

Oil Price Sits In A Precarious Temporary State Of Balance After Strong Rises

via: SeekingAlpha at 2019-03-22 02:37:14:000

Original Post By Stuart Burns Oil prices have rallied this quarter, with Brent crude hitting a peak of U.S. $67.50/barrel, according to oil-price.com . Goldman Sachs (GS) is quoted in a note to investors as saying the resilient demand growth and supply outages could push prices… read more...

Oil Price Sits In A Precarious Temporary State Of Balance After Strong Rises

via: SeekingAlpha at 2019-03-22 02:37:14:000

Original Post By Stuart Burns Oil prices have rallied this quarter, with Brent crude hitting a peak of U.S. $67.50/barrel, according to oil-price.com . Goldman Sachs (GS) is quoted in a note to investors as saying the resilient demand growth and supply outages could push prices… read more...

Oil Price Sits In A Precarious Temporary State Of Balance After Strong Rises

via: SeekingAlpha at 2019-03-22 02:37:14:000

Original Post By Stuart Burns Oil prices have rallied this quarter, with Brent crude hitting a peak of U.S. $67.50/barrel, according to oil-price.com . Goldman Sachs (GS) is quoted in a note to investors as saying the resilient demand growth and supply outages could push prices… read more...

The EIA's Optimistic Outlook

via: SeekingAlpha at 2019-03-21 22:20:05:000

Most of the data below is taken from the EIA's Short-Term Energy Outlook . The data through February 2019 is the EIA's best estimate of past production and all data from March 2019 through December 2020 is the EIA's best estimate of future production. However, in most cases, February producti… read more...

The EIA's Optimistic Outlook

via: SeekingAlpha at 2019-03-21 22:20:05:000

Most of the data below is taken from the EIA's Short-Term Energy Outlook . The data through February 2019 is the EIA's best estimate of past production and all data from March 2019 through December 2020 is the EIA's best estimate of future production. However, in most cases, February producti… read more...

The EIA's Optimistic Outlook

via: SeekingAlpha at 2019-03-21 22:20:05:000

Most of the data below is taken from the EIA's Short-Term Energy Outlook . The data through February 2019 is the EIA's best estimate of past production and all data from March 2019 through December 2020 is the EIA's best estimate of future production. However, in most cases, February producti… read more...

High Yield Energy Debt: The Writing Is On The Wall/Oil

via: SeekingAlpha at 2019-03-21 06:14:25:000

Has US Bond Volatility Died? It certainly seems as if US bond volatility is dying. March 19th marked the lowest close for the MOVE index - that's the bond market's equivalent of the VIX Index ( VXXB , TVIX , UVXY , VXX , VXXB , VIXM , VIXX , VIXY ) - since it began being tracked, … read more...

U.S. crude jumps to four-month high after big drop in domestic supplies

via: SeekingAlpha at 2019-03-20 12:11:56:000

U.S. crude oil climbed above $60/bbl for the first time in about four months, after government data showed domestic stockpiles of crude oil and refined fuels plunged last week; WTI settled +1.4% at $59.83/bbl, Brent +1.3% at $68.50/bbl. More news on: The United States Oil ETF, LP, En… read more...

Crude, Gasoline and Distillates inventory unexpectedly falls

via: SeekingAlpha at 2019-03-20 06:31:24:000

EIA Petroleum Inventories: Crude -9.6 M barrels vs. +0.3M consensus, -3.9M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News o… read more...

U.S. crude supply fell 2.1M barrels last week, API says

via: SeekingAlpha at 2019-03-19 13:00:14:000

The American Petroleum Institute reportedly shows a draw of 2.13M barrels of oil for the week ending March 15, vs. a draw of 2.6M barrels in the previous week; the crude draw would be second in a row if confirmed tomorrow by EIA data. More news on: The United States Oil ETF, LP, iPath S&… read more...

Oil Is Going Higher, Perhaps A Lot Higher

via: SeekingAlpha at 2019-03-19 08:52:43:000

Though late last year through today may have been ruled in large part by the fears of oil bears, recent data, this time put out by OPEC, suggests that the tide is turning for the oil industry. Based on recent figures put out by the group, combined with a commitment by Saudi Arabia to reduc… read more...

OIL Weekly: Ticking Demand Hastens Bullish Crude Sentiment

via: SeekingAlpha at 2019-03-19 08:23:28:000

Introduction In this short note, I wish to discuss oil markets fundamental developments through the iPath S&P Oil Total Return Index ETN ( OIL ). As you may know, OIL provides investors with a cash payment at the scheduled maturity or early redemption, based on the performance of it… read more...

Crude climbs to YTD highs amid OPEC commitment to rebalance oil market

via: SeekingAlpha at 2019-03-19 05:01:31:000

Crude oil prices reach YTD highs following OPECs agreement to deepen their production cuts beyond the quota agreed in December; WTI +0.5% to $59.37/bbl, Brent +0.6% to $67.95/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P … read more...

How The IEA Overplays The U.S. Shale Revolution

via: SeekingAlpha at 2019-03-19 04:02:34:000

Image source Oil prices last week rose to 2019 highs as a result of the tightening oil market that reflects lower inventories levels with a combined fall in both crude oil and refined products, though US crude exports reached record high levels. The Energy Information Administration ((… read more...

Weekly Oil Storage Report - Bullish Draws Continue

via: SeekingAlpha at 2019-03-18 13:59:34:000

Another week and another bullish EIA oil storage report. Every metric across the board was bullish with the exception of distillate. Total liquid stockpile dropped 10.212 mbbls versus the 5-year average draw of 1.069 mbbls. This puts total liquids in the deficit territory since the start of th… read more...

OPEC: Compliance with supply cuts improving

via: SeekingAlpha at 2019-03-17 02:32:55:000

With the U.S. and rival producers pumping more crude, the need for compliance on the OPEC+ supply cut agreement has never been greater. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, News on ETFs, Commodities n… read more...

This Week In Money - March 16, 2019

via: SeekingAlpha at 2019-03-16 22:50:19:000

Ross Clark - Gold, oil, yield curves, stock markets. Wolf Richter - Debt crisis, trade war. John Rubino - Debt, US dollar, US economy, central banks Larry Reaugh - President & CEO of American Manganese Inc. Jim Pettit - President & CEO of Aben Re… read more...

IEA Forecasts February Global Oil Storage Dropped 30 Mbbls - Where's The Build?

via: SeekingAlpha at 2019-03-16 07:33:26:000

Welcome to the sell first ask questions later edition of Oil Markets Daily! IEA published its latest oil market report today and one particular section of the report stood out to us. On the public side, this is the exact quote: OECD commercial oil stocks rose 8.6 mb on the month in … read more...

Oil Markets: Are You Bearish Or Bullish?

via: SeekingAlpha at 2019-03-15 10:18:05:000

It has been a while since I have written on oil. Why? Well, we all know that apart from the usual and insignificant fluctuation in prices triggered by inventory reports, there was not much to talk about. The headlines were irritatingly repetitive in nature; oil was moving either way (few cen… read more...

U.S. total rig count, oil rigs both drop by 1 in latest survey

via: SeekingAlpha at 2019-03-15 09:10:52:000

The total count of active drilling rigs in the U.S. falls for the fourth straight week, but by only 1 to 1,026 after shedding 20 rigs over the previous two weeks, according to the latest survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas … read more...

Stronger than expected oil demand to push Brent above $70, Goldman says

via: SeekingAlpha at 2019-03-15 06:10:45:000

Higher oil demand coupled with declining production and supply cuts should push Brent crude past $70/bbl in the near term, Goldman Sachs says. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, C… read more...

The Pause Before The Storm

via: SeekingAlpha at 2019-03-15 02:40:39:000

By Phil Flynn It took a weak industrial output number out of China to slow down the crude market that is breaking out to the upside. The concern after China showed a much slower-than-expected 5.3% increase along with weaker-than-expected housing and jobs data, is that China's record-breaki… read more...

IEA warns of Venezuela oil disruptions

via: SeekingAlpha at 2019-03-15 01:24:00:000

A nationwide power failure in Venezuela could trigger "serious disruption" to the oil market, according to the IEA , but OPEC kingpin Saudi Arabia should have the means to offset any further production woes in Caracas. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil T… read more...

OPEC February Production Data

via: SeekingAlpha at 2019-03-15 00:18:55:000

The following OPEC charts were created with data from the OPEC Monthly Oil Market Report . All OPEC charts are through February 2019 and are in thousand barrels per day. OPEC crude oil production was down 221,000 barrels per day in February. That was after December production had been rev… read more...

Crude Oil - Coming Sanctions Create Uncertainty

via: SeekingAlpha at 2019-03-14 02:30:00:000

In the leadup to the November 2018 sanctions on the theocracy in Teheran, the US administration led by President Trump went on a campaign to convince allies within the international oil cartel to increase their output of crude oil. In early October last year, the price of nearby WTI NYMEX futu… read more...

Crude inventory unexpectedly falls

via: SeekingAlpha at 2019-03-13 06:31:06:000

EIA Petroleum Inventories: Crude -3.9 M barrels vs. +2.7M consensus, +7.1M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News o… read more...

Crude oil gains as U.S. cuts crude production outlook

via: SeekingAlpha at 2019-03-13 06:22:08:000

Crude oil prices are higher , helped by a U.S. government forecast showing slower than expected U.S. production , as drillers scale back in smaller shale plays and the Gulf of Mexico; WTI +1.7% to $57.85/bbl, Brent +0.8% to $67.23/bbl. More news on: The United States Oil ETF, L… read more...

U.S. crude supply fell 2.6M barrels last week, API says

via: SeekingAlpha at 2019-03-12 12:55:28:000

The American Petroleum Institute reportedly shows a draw of 2.6M barrels of oil for the week ending March 8, vs. a build of 7.29M barrels in the previous week; analysts had expected to see a build of ~3.3M barrels. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Tota… read more...

The Climate Change Policy Disconnect - Will It Lead To An Energy Crisis?

via: SeekingAlpha at 2019-03-12 08:01:42:000

Two news announcements recently caught our attention. Both announcements provided further comfort in our minds with regard to our positive thesis regarding the outlook for the broader energy sector over the next few years. The recent news announcements we are referring to is firstly this anno… read more...

Maritime Regulations, NOPEC, And What's Ahead For Crude Oil Markets

via: SeekingAlpha at 2019-03-12 01:22:57:000

By Debbie Carlson At a Glance New marine fuel standards and anti-cartel legislation will require "careful navigation" of oil markets, says one analyst. Two little-known news events could have a sizable influence on crude oil prices this year. By 2020, new global pollution control r… read more...

Oil - Bullish February Will Cascade Into A Bullish March

via: SeekingAlpha at 2019-03-11 15:27:46:000

EIA reported a bullish oil storage report this week despite the 7.069 mbbl build in crude storage. The build resulted from imports being well understated in the previous week due to fog, so the catch-up was half land imports related (from Canada) and the other half was the backlog of ships. Th… read more...

Putting Recent Oil Trends Into Perspective

via: SeekingAlpha at 2019-03-11 09:59:23:000

For the past few months now, since oil prices climbed back up from the $40s, WTI has been in something of a holding pattern, moving within a few dollars in the mid to high $50 range. On one hand, you have bears touting growing supply figures and weakening global demand growth, and on the other… read more...

Reflation Or Supply And Speculation?

via: SeekingAlpha at 2019-03-11 06:58:43:000

Please Note: This analysis was prepared using end of day data from March 8th, 2019. All indicators and valuations reflect the same. Quick Take Despite the popular narrative that the recent rise in industrial commodity prices is due to a shift towards reflationary policy, I believe the pr… read more...

IEA: Another U.S. shale revolution is coming

via: SeekingAlpha at 2019-03-11 01:31:09:000

"The second wave of the U.S. shale revolution is coming," the IEA said in its annual five-year oil outlook report. "This will shake up international oil and gas trade flows, with profound implications for the geopolitics of energy." More news on: The United States Oil ETF, LP, iPath S&am… read more...

Top 5 Charts: Economic Trends, Market Signals, Expected Returns

via: SeekingAlpha at 2019-03-11 01:30:09:000

Here's a look at some of the stand-out charts on my radar. I aim to pick a good mix of charts covering some of the key global macro trends, as well as some of the more interesting risks and opportunities across asset classes. Hope you enjoy! 1. Philly Fed Fakeout? This chart should seem fa… read more...

Saudis see no OPEC+ policy change until June

via: SeekingAlpha at 2019-03-10 23:32:39:000

Crude futures rose 0.6% to $56.42/bbl overnight, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long … read more...

Is LNG The New Oil?

via: SeekingAlpha at 2019-03-10 08:26:14:000

By Adila Mchich The global LNG market is currently one of the fastest growing sectors in the energy industry and will likely continue to evolve in the next few years. The emergence of new major export and import players has altered the patterns of the international gas trade and brought … read more...

Crude Oil Ignores Other Markets, But Falls At The End Of The Week

via: SeekingAlpha at 2019-03-10 01:00:00:000

The price of crude oil has made quite a comeback in 2019. After falling from a high at $76.90 per barrel on the nearby NYMEX futures contract on October 3, the price plunged to a low at $42.36 on December 24 which turned out to be a bottom for the energy commodity. Crude oil fell to within 21 … read more...

This Week In Money - March 9, 2019

via: SeekingAlpha at 2019-03-09 20:46:09:000

Ross Clark - Stock markets, gold, oil, US dollar, Canadian dollar. Rick Rule - The current state of mining and where he's putting his money. John Kaiser - Junior miners, PDAC curse. Larry Reaugh - President & CEO of American Manganese Inc. Produced by… read more...

U.S. to surpass Saudis in oil exports - Rystad

via: SeekingAlpha at 2019-03-09 10:17:23:000

Saudi Arabia currently exports about 7M barrels of crude oil each day, along with 2M barrels of natural gas liquids and petroleum products, but the U.S. is set to top that record this year, according to Rystad Energy , becoming the world's leading exporter of oil and liquids. More news on… read more...

Have Crude Fundamentals Changed?

via: SeekingAlpha at 2019-03-09 07:10:09:000

In the past few weeks, I have covered the oil ( USO ) fundamental picture extensively. In this piece, I would like to reevaluate the fundamental picture and note substantial fundamental developments which could potentially change the tone of the market. While I remain bearish the petroleum mar… read more...

U.S. rig count sheds another 11 in third straight weekly drop

via: SeekingAlpha at 2019-03-08 08:15:32:000

The total U.S. rig count falls for the third straight week to 1,027, a drop of 11 after shedding 9 rigs during the previous week, Baker Hughes says in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Tot… read more...

Midland crude pricing bolstered by Texas pipeline expansion, traders say

via: SeekingAlpha at 2019-03-08 07:34:40:000

Traders say prices for Midland crude have firmed to the strongest in three weeks as shippers bought crude to fill Enterprise Products Partners' ( EPD -0.9% ) newly expanding Midland-to-ECHO pipeline that will bring oil from the Permian Basin to the Gulf coast. More news on: Enterprise … read more...

Crude oil, energy names plunge after U.S. jobs report, weak China data

via: SeekingAlpha at 2019-03-08 05:19:52:000

Oil and gas names populated the session's biggest losers as crude oil prices sink more than 3% following weak Chinese economic data and disappointing U.S. jobs growth;WTI -3.5% at $54.66/bbl, Brent -3.2% at $64.15/bbl. More news on: EOG Resources, Inc., Marathon Oil Corporation, Apac… read more...

Oil and gas stocks lower after Norway decision

via: SeekingAlpha at 2019-03-08 01:17:03:000

Looking to reduce its aggregate oil price risk, Norway has decided to exclude exploration and production companies within the energy sector from its $1T sovereign wealth fund. More news on: Royal Dutch Shell plc, Royal Dutch Shell plc, BP p.l.c., Commodities news, Top stock market news, … read more...

California Resources Q4 Results Continues To Make It One Of The Best Oil Proxy Bets On The Market

via: SeekingAlpha at 2019-03-07 08:25:23:000

Overall we have a bullish sentiment on California Resources ( CRC ) as it recognized higher cash flow than the street expected. Reserve report using $71 Brent also puts the PV-10 value at $9.4 billion or equivalent to $85 per share in NAV. Q4 Results Summary A few things stood out to us. F… read more...

Open Insights: EIA's Weekly Petroleum Report (03/01/19)

via: SeekingAlpha at 2019-03-07 03:50:02:000

Continuing our weekly series, Open Insights, we'll take a look at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of March 1, 2019. The EIA reported a crude build of 7.1M barrels for the week. Imports increased by 1.1M barrels per day (bpd) from last week and hovered around 7…. read more...

Crude oil bubbles higher

via: SeekingAlpha at 2019-03-06 23:46:53:000

Oil prices are tracking higher after a choppy day of trading yesterday when a weekly report on U.S. crude stockpiles showed a surge. Energy traders think a big rebound in U.S. crude oil imports in combination with a drop in exports led to the large increase in domestic inventories. More ne… read more...

Crude oil slumps following bearish inventory data

via: SeekingAlpha at 2019-03-06 06:15:39:000

Oil prices slide after the U.S. Energy Information Administration reported domestic crude inventories rose by 7.1M barrels in the week ending March 1, roughly matching data from the American Petroleum Institute released yesterday ; WTI -1.5% to $55.71/bbl; Brent -0.6% to $65.44/bbl. … read more...

Crude inventory unexpectedly rise

via: SeekingAlpha at 2019-03-06 05:30:54:000

EIA Petroleum Inventories: Crude +7.1 M barrels vs. +1.2M consensus, -8.6M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News o… read more...

U.S. crude supply rose 7.3M barrels last week, API says

via: SeekingAlpha at 2019-03-05 12:00:05:000

The American Petroleum Institute reportedly shows a build of 7.29M barrels for the week ending March 1, vs. a draw of 4.2M barrels in the previous week; the build would be largest since January if confirmed by EIA data. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil… read more...

Line 3 Delays: Ultra Bullish For Energy Investors, Not So Much For Enbridge

via: SeekingAlpha at 2019-03-05 03:39:29:000

Enbridge Inc ( ENB ) was expanding the biggest pipeline out of Canada. The line expansion was supposed to add close to 400,000 barrels per day of badly needed capacity to a constricted system. ENB was confident in the execution of this by year-end. Enbridge Inc. is confident that its Li… read more...

Enbridge's Line 3 Delays Makes Oil Price Outlook For 2020 Even More Bullish

via: SeekingAlpha at 2019-03-04 15:00:38:000

Welcome to the caveat edition of Oil Markets Daily! Markets are full of twist and turn and the latest one is an interesting one. Enbridge announced late on Friday that the Line 3 replacement project is delayed until H2 2020 because it won't receive State permitting until November of 2019… read more...

Tis The Season For Crude Oil

via: SeekingAlpha at 2019-03-04 12:57:27:000

Crude oil had a rough end to 2018 as a number of headwinds drove a swift correction. But so far 2019 has been much kinder to crude, and it could be just the start as headwinds have turned to tailwinds. Today's chart comes from a report on the outlook for the Crude Oil Price (which also dis… read more...

E&P Investors: Time To Pore Over Annual Disclosures

via: SeekingAlpha at 2019-03-04 07:22:24:000

Every year when late February rolls around, I steel myself for the task I am about to undertake, which is to review public disclosures for E&P companies relating to their performance from the prior year. From year-end disclosures of reserves and production figures to guidance, from press r… read more...

Crude Oil Gets Trumped At The Start Of The Week

via: SeekingAlpha at 2019-03-03 01:15:00:000

Technology is changing the world at an unprecedented pace when it comes to a historical perspective. These days, I can get the weather report, do research, change the channel on TV, and do a host of other tasks by asking a little box in the corner that goes by the name of Siri or Alexa. We wal… read more...

This Week In Money - March 2, 2019

via: SeekingAlpha at 2019-03-02 21:26:53:000

Bob Hoye Stock markets, crude oil. Danielle Park Corruption, markets. Hilliard MacBeth Unwinding of a real estate bubble Larry Reaugh President & CEO of American Manganese Inc. Produced by HoweStreet.com Editor's Note… read more...

Global Growth Hinges On China's Big Week

via: SeekingAlpha at 2019-03-02 10:29:22:000

By Ed Moya Mixed economic data, a roller coaster ride in trade, and fresh geopolitical risks saw US equities edge higher on the week, while the dollar was little changed. With the data dependent Fed likely to be on hold for at least the first half of the year, financial markets will closel… read more...

A Global Tour Of Crude Oil: Which Countries Matter Most?

via: SeekingAlpha at 2019-03-01 21:55:56:000

By Bob Iaccino According to Merriam-Webster, the word "geopolitics" can mean: a combination of political and geographic factors relating to something (such as a state or particular resources) as in "the geopolitics of oil". Since the political factors sit within the geographic areas, a g… read more...

Here Comes The Sun: The Bright Future Of Oil And Gas

via: SeekingAlpha at 2019-03-01 21:43:00:000

The United Nations Human Development Index ((HDI)) combines life expectancy, education and income to provide a more complete picture of well-being than simply considering GDP per capita. If one chart can illustrate the global challenge of combating climate change, it might be the scatterplot b… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended March 1, 2019

via: SeekingAlpha at 2019-03-01 14:03:00:000

Welcome to the latest edition of the Energy Recap. Below are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. On a separate note, we want… read more...

A Real Shocker - U.S. Oil Production Was Down In December Versus November

via: SeekingAlpha at 2019-03-01 09:57:14:000

Welcome to the " surprise?!" edition of Oil Markets Daily! The highly anticipated EIA 914 report was released today and surprise, U.S. oil production was lower versus November. November U.S. oil production was revised slightly higher to 11.908 mb/d while December U.S. oil production… read more...

U.S. rig count falls for second week, to 1,038

via: SeekingAlpha at 2019-03-01 08:03:49:000

Total U.S. rig count has dipped by 9 to 1,038 , the second straight decline after the number fell by 4 last week, according to the weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Inde… read more...

Predictor Model For Shale Oil Signaling A Possible Bust In 2019

via: SeekingAlpha at 2019-03-01 06:44:25:000

I'm not the only one warning that the shale oil bonanza may be over sooner than most people think. We have a supplier in Huston who wears genuine cowboy-boots, just so no one gets confused about where he comes from; I'm pretty sure he never sat on a horse. He came to visit yesterday to… read more...

The Gasoline Market As The Driving Season Approaches

via: SeekingAlpha at 2019-03-01 01:30:00:000

The offseason for gasoline demand in 2018 and early 2019 was ugly. The price of the fuel dropped from $2.15 per gallon wholesale at the beginning of October to a low at $1.2450 in late December, a decline of over 42%. Gasoline demand tends to peak in the spring and summer and drop in the fall … read more...

Oil: Permian Treadmill Decline Is Only Getting Faster

via: SeekingAlpha at 2019-02-28 07:46:58:000

Welcome to the faster and harder treadmill edition of Oil Markets Daily! In December last year, we published an article titled, " For The Permian, It's Not 2016 - And That's Bad News For U.S. Shale ." At the time, Parsley Energy ( PE ) released its capex budget for 2019 and we noted how … read more...

Crude oil climbs 3% as U.S. crude stockpiles plunge

via: SeekingAlpha at 2019-02-27 11:48:26:000

Crude oil prices extend gains after U.S. data showed an unexpected and sharp drop in domestic crude stockpiles; WTI +3.1% to $57.22/bbl, Brent +2% to $66.52/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Ind… read more...

Crude inventory unexpectedly falls

via: SeekingAlpha at 2019-02-27 10:31:24:000

EIA Petroleum Inventories: Crude -8.6 M barrels vs. +2.8M consensus, +3.7M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News o… read more...

The Surge In U.S. Crude Exports Brought Stronger Competition For Light Sweet Crudes

via: SeekingAlpha at 2019-02-27 09:32:53:000

OPEC crude oil output has fallen sharply over the past two months to its lowest level in four years, to 30.8 million barrels per day (bpd) in January, causing any oil surplus to disappear. This might move the oil market into a deficit toward the end of the first quarter. The Brent /WTI spre… read more...

Oil advances as OPEC set to continue cuts

via: SeekingAlpha at 2019-02-27 06:03:11:000

Crude oil futures rose 1.3% to $56.24/bbl overnight following a decline in U.S. crude inventories and as OPEC seemed to stick to its supply cuts despite pressure from President Trump. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityS… read more...

U.S. crude supply fell 4.2M barrels last week, API says

via: SeekingAlpha at 2019-02-26 17:00:05:000

The American Petroleum Institute reportedly shows a draw of 4.2M barrels for the week ending Feb. 22, vs. a build of 3.2M barrels in the previous week; analysts had expected to see inventories build of ~3M barrels. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Tota… read more...

Saudi Arabia Won't Fill The Void This Time Around

via: SeekingAlpha at 2019-02-26 14:40:34:000

Welcome to the once bitten, twice shy edition of Oil Markets Daily! Oil prices are responding to President Trump's tweet Monday: Although the physical oil market loosened a bit over the last week, the bulk of Monday's sell-off came following the tweet. What's interesting about t… read more...

Oil Price Rises On The Back Of Supply Concerns

via: SeekingAlpha at 2019-02-26 05:37:31:000

Original Post By Stuart Burns OPEC may not be what it once was, but in concert with non-OPEC countries like Russia, the cartel is showing it can still influence prices to its advantage. After extensive negotiations behind the scenes, Saudi Arabia and Russia have agreed to reduce ou… read more...

Stealing The Permian - Which Operators Are Next In Line For U.S. Onshore Mergers And Acquisitions Activity?

via: SeekingAlpha at 2019-02-26 05:15:29:000

US onshore merger and acquisition activities over the past few months have been mostly focused on the Permian Basin. Our company and transaction experts, Sven del Pozzo and Tim Brown, have assessed US E&Ps to understand what might be ahead for the Permian, and other U.S. operators lo… read more...

EIA's Data For World And Non-OPEC Oil Production

via: SeekingAlpha at 2019-02-26 04:48:26:000

The EIA has just published their data on World and Non-OPEC Oil Production . All data is through November 2018 and is in thousand barrels per day. All data is Crude + Condensate. World C+C was up 96,000 bpd in November to 84,225,000 bpd. Non-OPEC was up 280,000 bpd in November to 48,638,0… read more...

Oil prices tumble 3% in worst drubbing of the year

via: SeekingAlpha at 2019-02-25 16:20:54:000

Crude oil suffers its worst YTD price decline , tumbling from three-month highs after Pres. Trump said crude prices are getting too high ; April WTI settled -3.1% to $55.48/bbl, and Brent closed -3.5% to $64.76/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SP… read more...

E&P Investors: Some Macro Trends To Watch In 2019

via: SeekingAlpha at 2019-02-25 09:15:00:000

"It's like dj vu all over again." - Yogi Berra Every year I try to set out things that I see impacting the E&P sector for the coming year, more so to try to clear my head and to focus for the coming days/weeks/months as anything. When I began writing down themes, I felt lik… read more...

Oil prices getting too high - Trump

via: SeekingAlpha at 2019-02-25 07:11:10:000

"World cannot take a price hike," tweets the president this morning. "OPEC, please relax and take it easy." More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Commodities news, News on ETFs, … read more...

Oil Update - February 2019

via: SeekingAlpha at 2019-02-25 05:56:16:000

My forecast for March is that the West Texas Intermediate oil price will range between $55 and $65 per barrel. The range is five dollars higher than last month's forecast. I have raised my target range because of the ongoing problems in Venezuela, the progress that the US and China are makin… read more...

Trade Alert - Crude Oil, What's Next For The Black Gold

via: SeekingAlpha at 2019-02-24 15:03:05:000

As active investors we are constantly on the lookout for high reward relative to risk. So much of what we do is playing the proverbial If-Then game. If this happens then it setups up a high reward relative to opportunity to allocate capital. In m… read more...

Brent-WTI Oil Spread Taking Cue From Houston-Midland?

via: SeekingAlpha at 2019-02-24 06:46:36:000

Originally published on Feb. 14, 2019 By Erik Norland The price spread between two relatively new futures contracts, WTI Midland and WTI Houston, has been over the past two years a leading indicator of the spread between the two most venerable crude oil futures contracts: WTI and Brent… read more...

OPEC Or 'NOPEC'? No, It's 'SchmOPEC'

via: SeekingAlpha at 2019-02-23 06:00:00:000

OPEC is the international oil cartel that has been around since 1960. The organization began in Baghdad, Iraq and the founding members were Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. The Middle East is home to more than half the world's reserves of crude oil, but the South American natio… read more...

Saudi Arabia Swings Both Ways, But How Low Will It Go?

via: SeekingAlpha at 2019-02-23 00:22:24:000

Source: OPEC. At the December OPEC meeting press conference , Saudi Energy Minister Khalid A. Al-Falih stated: In the last six months, weve demonstrated that we are not just in the business of cutting, we are also in the business of releasing supplies when needed. And I thin… read more...

WTI Weekly: Buy-Side Continuation To 57.81s From Last Week's Breakout

via: SeekingAlpha at 2019-02-23 00:16:30:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last weeks WTI Weekly , the primary expectation for this week was for buy-side activity following last weeks buy excess and late week buy-sid… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Feb. 22, 2019

via: SeekingAlpha at 2019-02-22 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

Crude oil climbs to highest since November 12

via: SeekingAlpha at 2019-02-22 16:44:41:000

Crude oil futures hit fresh three-month highs today against a backdrop of upbeat U.S.-China trade talks and rising equity markets; WTI +0.5% to $57.26/bbl and Brent +0.1% to $67.12/bbl, marking the highest finish for both benchmarks since Nov. 12. More news on: The United State… read more...

Open Insights: EIA's Weekly Petroleum Report (02/15/19)

via: SeekingAlpha at 2019-02-22 13:49:10:000

Continuing our weekly series, Open Insights, we'll take a look at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of February 15, 2019. The EIA reported a crude build of 3.7M barrels for the week. Imports increased by 1.3M barrels per day (bpd) from last week and hovered aroun… read more...

U.S. oil rig count falls by 4, Baker Hughes survey says

via: SeekingAlpha at 2019-02-22 13:12:25:000

The total U.S. rig count falls to 4 to 1,047 after gaining 2 a week ago, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commod… read more...

Oil inventories top estimates

via: SeekingAlpha at 2019-02-21 11:01:00:000

EIA Petroleum Inventories: Crude +3.7M barrels vs. +3.1M consensus, +3.6M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

China's Growth Slowing Down, Another Risk For Crude Oil Demand

via: SeekingAlpha at 2019-02-21 05:50:08:000

With China's economic growth near a three-decade low, having reached 6.4% in 2018, there is a lot of concern about the global crude oil market's performance this year. Without doubt, the impact of the country's trade war with the US cannot be ignored, but meanwhile, there are several other par… read more...

U.S. crude supply rose 3.2M barrels last week, API says

via: SeekingAlpha at 2019-02-20 17:05:14:000

The American Petroleum Institute reportedly shows a build of 3.2M barrels of oil for the week ending Feb. 15, vs. a draw of nearly 1M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ET… read more...

Open The Spigots - Change The World

via: SeekingAlpha at 2019-02-20 08:51:09:000

If there is one major world changing event that has occurred in the last 10 years, it is the position that the United States has attained in oil and gas production. For countless decades both the U.S. and Europe have been contained by OPEC and her masters. Many of these countries have not been… read more...

Let It Flow: Permian Crude Heads For The Coast

via: SeekingAlpha at 2019-02-20 08:00:18:000

By Michael Laitkep Last year, the rampant growth in crude production in the Permian caused supply to outpace available pipeline takeaway capacity, creating a growth opportunity for the midstream space. As new pipeline capacity comes on-line in the Permian this year and in 2020+, the logica… read more...

Crude Oil Looks Great - Is It A Sale Here?

via: SeekingAlpha at 2019-02-20 06:30:00:000

Late last week, the price of nearby NYMEX crude oil futures rose to a new high for 2019. On Monday, February 18 as the US markets did not open because of the President's Day holiday, the price of the energy commodity continued to make strides on the upside. The energy commodity rose above the … read more...

Financial Exchange Stock Talk: Jennifer Warren On Occidental Petroleum

via: SeekingAlpha at 2019-02-20 04:00:06:000

See Jennifer's earlier article on Occidental Petroleum (OXY) Read more … read more...

Venezuela Sanctions Could Be Much More Impactful Than We Originally Thought

via: SeekingAlpha at 2019-02-19 16:52:56:000

Welcome to the bigger than expected edition of Oil Markets Daily! On January 28th, 2019, US imposed sanctions on PDVSA, Venezuela's state-owned oil company. Following the announcement of the sanctions, we wrote in the chat that it should not have any meaningful impact on the oil market. … read more...

India's Big Potential, Good News For Shipping?

via: SeekingAlpha at 2019-02-18 07:11:50:000

India, the world's second-biggest crude oil importer, absorbed around 9.5% of global trade flows last year. The country has been recently switching to new suppliers of crude oil, having an impact to the rest of the global market. Data available by IHS Markit's Commodities at Sea [1] suggests,… read more...

Ep. 81 - How To Approach Investing In Energy Markets With Keith Schaefer, ...

via: SeekingAlpha at 2019-02-18 06:52:03:000

For this episode of Planet MicroCap Podcast, I spoke with Keith Schaefer, Publisher of Oil and Gas Investments Bulletin. I've met Keith a few times on the conference circuit, having been booth buddies along the way. I also have yet to do an episode completely dedicated to Energy markets a… read more...

Electric Vehicles And The Future Of Oil

via: SeekingAlpha at 2019-02-17 07:18:08:000

By Scott Bauer At A Glance Electric vehicles will represent 30 percent of new car sales by 2040. Tesla (TSLA), BP investments in China point to a big electric vehicle future there. Just two percent of all auto sales today are electric. It is estimated that over 3.5 million electr… read more...

WTI Weekly: False Breakdown Early Week To 51.23s, Price Discovery Higher To 56.26s

via: SeekingAlpha at 2019-02-16 16:04:08:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last weeks WTI Weekly , the primary expectation for this week was for sell-side activity provided the near-term key resistance, 53-54.30s, held. This… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Feb. 15, 2019

via: SeekingAlpha at 2019-02-15 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

Crude oil hits three-month highs, boosted by tightening Saudi production

via: SeekingAlpha at 2019-02-15 15:57:34:000

Crude oil settles at three-month highs , with March WTI +2.2% to $55.59/bbl and Brent +2.6% to $66.25/bbl for their highest finishes for a front-month contract since Nov; for the week, WTI prices jumped 5.4% and Brent bumped up 6.7%. More news on: The United States Oil ETF, LP, iPath … read more...

U.S. oil rig count rises by 2, Baker Hughes survey says

via: SeekingAlpha at 2019-02-15 13:11:00:000

The total U.S. rig count adds 2 to 1,051 after gaining 4 a week ago, according to Baker Hughes' latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, News on ETFs, Read more … read more...

In Fear Of NOPEC Legislation, OPEC Proclaims Its Innocence

via: SeekingAlpha at 2019-02-15 10:04:11:000

The NOPEC legislation No Oil Producing and Exporting Cartels Act in the U.S. Congress is progressing. The House Judiciary Committee approved the bill last week, and it will be considered by the full House. There is bipartisan support. President Trump has called OPEC a &#x… read more...

Is The Gasoline Crack Spread Flashing A Signal?

via: SeekingAlpha at 2019-02-15 06:00:00:000

A thorough analysis of commodities markets requires an in-depth examination of a raw material's market structure. In the crude oil market, term structure is one facet of the overall picture when it comes to the supply and demand fundamentals. Term structure is the difference between the price … read more...

Saudi halts production at world's largest oilfield in unplanned shutdown - report

via: SeekingAlpha at 2019-02-14 16:59:21:000

Saudi Aramco halted oil production this week at Safaniyah, the world's largest offshore oilfield, in an unplanned shutdown that removes 1M bbl/day of heavy crude from the market, according to a report from Energy Intelligence . More news on: The United States Oil ETF, LP, iPath S&P … read more...

Saudi's Oil Policy - 'Fool Me Twice, Shame On You'

via: SeekingAlpha at 2019-02-14 15:01:08:000

Welcome to the "won't be fooled twice" edition of Oil Markets Daily! In an article, we wrote on Nov. 16 titled, " Saudis Got 'Trumped' - Watch What Happens Next ." We wrote that in exchange for renewed sanctions on Iran, Saudi promised under the table with President Trump to keep the oil… read more...

Musings In The Oil Patch: Saudi Arabia, Libya And Venezuela

via: SeekingAlpha at 2019-02-14 05:42:49:000

Investing in oil often means nothing happens for days, and then everything (including things you'd never think of) happens within days. The beginning of February is turning out to be one of those times. Here's a few of our musings as the first few weeks of February progress. On Tuesday, Saud… read more...

Texas crude production shatters record

via: SeekingAlpha at 2019-02-14 05:34:03:000

Texas oil wells produced more than 1.54B barrels of crude in 2018 - despite a 40% commodity price drop during Q4 - beating the previous record of 1.28B barrels set in 1973, TIPRO disclosed in its annual "State of Energy Report." More news on: The United States Oil ETF, LP, iPath S&P … read more...

Inflation Falls Again, Dot-Com Like

via: SeekingAlpha at 2019-02-14 04:21:04:000

US inflation in January 2019 was, according to the CPI, the lowest in years. At just 1.55% year over year, the index hadnt suggested this level since September 2016 right at the outset of what would become Reflation #3. Having hyped expectations over that interim, US policymakers now h… read more...

Crude oil extends gains as Goldman takes bullish view

via: SeekingAlpha at 2019-02-13 11:12:05:000

Crude oil prices are drawing support from a bullish call by Goldman Sachs , which suggests the market has grown too pessimistic about 2019 demand forecasts; WTI +1.9% to $54.15/bbl, Brent +1.8% to $63.55/bbl. More news on: Energy Select Sector SPDR ETF, The United States Oil ETF,… read more...

Oil inventories top estimates

via: SeekingAlpha at 2019-02-13 10:32:16:000

EIA Petroleum Inventories: Crude +3.6M barrels vs. +2.7M consensus, +1.3M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

Venezuela Can't Save Crude Oil

via: SeekingAlpha at 2019-02-13 08:35:03:000

Over the last few weeks, Ive provided a few different views of oil market fundamentals with a focus on the large scale picture at work within North America. In this piece, I am going to focus on the latest development in the petroleum markets and the ramifications for North American … read more...

Trade War: U.S. Oil Misses Chinese Demand

via: SeekingAlpha at 2019-02-13 06:59:08:000

By Owain Johnson At A Glance Energy markets are closely watching trade negotiations between the United States and China. U.S. exports continued to rise in 2018, even as China stopped buying U.S. crude. The latest monthly report on Chinese trade data contained yet another reminder… read more...

The Trend In Brent-WTI Is A Sign For The Oil Market

via: SeekingAlpha at 2019-02-13 06:30:00:000

The price differential between Brent and WTI crude oil provides clues when it comes to predicting the path of least resistance of the price of the energy commodity. Brent crude oil is the benchmark for two-thirds of the world's petroleum, including oil coming from Europe, Africa, and the Mid… read more...

OPEC January Production Data

via: SeekingAlpha at 2019-02-13 04:57:17:000

The data below is taken from the OPEC Monthly Oil Market Report . All OPEC data is through January 2019 and is in thousand barrels per day. OPEC 14, crude only, was down just three thousand barrels short of 800,000 barrels per day in January. The difference between what Saudi says they pr… read more...

IEA: Sanctions, cuts not weighing on oil supply

via: SeekingAlpha at 2019-02-13 04:20:24:000

The IEA has left its global demand growth forecast of 1.4M bpd for 2019 unchanged from its last report in January, stating the oil market will struggle to absorb fast-growing crude supply from outside OPEC, even with the group's production cuts and U.S. sanctions on Iran and Venezuela. M… read more...

U.S. crude supply fell nearly 1M barrels last week, API says

via: SeekingAlpha at 2019-02-12 17:15:34:000

The American Petroleum Institute reportedly shows a draw of 998K barrels of oil for the week ending Feb. 8, vs. a build of 2.51M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, En… read more...

Weekly Oil Storage Report - An Inflection Point For U.S. Oil Storage

via: SeekingAlpha at 2019-02-12 11:25:43:000

EIA reported a bullish oil storage report this week. Crude, gasoline, and distillate all reported better than average storage changes. Total liquids in the US also dropped 3.357 mbbls versus the 5-year average build of 502k bbls. On the crude side, US crude exports increased ~926k b/d w-o-w,… read more...

Clash Of The Petro-Titans: Super OPEC Vs. The U.S.

via: SeekingAlpha at 2019-02-12 09:49:28:000

Super OPEC According to the Wall Street Journal article dated 6 February 2019 entitled Saudis Pursue Formal Pact with Russia , to paraphrase, a proposal will be under discussion during the week of February 18 in Vienna to formalize the present OPEC+ arrangement (formed in December 2016), an… read more...

Crude oil +2% as Saudi pledges to cut production by another 500K bbl/day

via: SeekingAlpha at 2019-02-12 08:15:49:000

Crude oil prices are rising, as OPEC says in its monthly report that the cartel's production fell by nearly 800K bbl/day in January to 30.8M bbl/day, and Saudi Arabia pledges to cut output by at least 500K bbl/day more than it originally planned; WTI +1.9% to $53.42/bbl, Brent +1.9… read more...

Will Cupid's Arrow Hit The Energy Market With Some Love This Week?

via: SeekingAlpha at 2019-02-12 02:56:30:000

By Managing Director and Portfolio Manager Brian Kessens Tough love for energy last week, as broad energy fell 3% and MLPs dropped -3.6% (with lots of dividend ex-dates). Producers brought up the rear, declining 6.4%. Crude oil prices were no help, slipping 4.6%, though crude oil invent… read more...

Crude Oil: Close To A Daily Cycle Low

via: SeekingAlpha at 2019-02-11 13:51:01:000

Equities and oil seem to be dropping down into their respective daily cycle lows. Depending on the severity of these declines, we may get long crude oil here to mark up our energy weighting a tad. The reason being that crude oil still has much further to rally (back to its recent 2018 highs) c… read more...

Crude oil slumps on stronger dollar, U.S.-China worries, rising U.S. rig count

via: SeekingAlpha at 2019-02-11 11:18:09:000

Crude oil prices slide near four-week lows due to a stronger dollar and continued concerns about U.S.-China trade talks; WTI -2.1% to $51.59/bbl, Brent -1.3% at $61.31/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Retu… read more...

This Week In Money - February 9, 2019

via: SeekingAlpha at 2019-02-10 01:52:44:000

Ross Clark - Oil, copper, markets. Marc Faber - China, US, trade, global economy. Ed Steer - Manipulation of gold and silver prices. Physical gold vs. paper gold. Larry Reaugh - President & CEO of American Manganese Inc. Produced by HoweStreet.com … read more...

Is NYMEX Crude Oil In A $50-$55 Range?

via: SeekingAlpha at 2019-02-09 06:00:00:000

Last Friday, the price of the nearby March NYMEX crude oil futures contract was trading around the $52.50 per barrel level. So far in 2019, March futures have traded in a range from $44.67 to $55.75, but the price has not traded below $50 per barrel since January 8. After a period of signifi… read more...

WTI Weekly: False Breakout Early Week To 55.75s, Price Discovery Lower To 51.80s

via: SeekingAlpha at 2019-02-09 00:27:47:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last weeks WTI Weekly , the primary expectation for this week was for buy-side activity provided the near-term key support, 54.50s-54s (last week&#x2… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Feb. 8, 2019

via: SeekingAlpha at 2019-02-08 19:30:06:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

Global Refinery Run Cuts Are Coming As Crude Quality Issues Worsen

via: SeekingAlpha at 2019-02-08 15:53:48:000

Welcome to the forced cut edition of Oil Markets Daily! Global refineries are starting to feel the pinch with the global crude quality issue worsening. Coking margins are getting absolutely hammered as the oil market faces a shortage of heavy sour crude. On the other end, a surplus of … read more...

U.S. oil rig count gains 7, Baker Hughes survey says

via: SeekingAlpha at 2019-02-08 13:13:06:000

The total U.S. rig count rises by 4 to 1,049, according to the latest weekly survey from Baker Hughes, after falling by 14 in the previous week. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stoc… read more...

Market Uncertainties: Risks And Opportunities

via: SeekingAlpha at 2019-02-08 03:55:29:000

From U.S.-Sino trade clashes to the absence of a UK Brexit agreement with the EU, the geopolitical environment remains unsettled. But equity markets seem to have assumed these trade matters will soon be resolved and that global expansion will continue. But will they? Kim Parlee speaks w… read more...

Bond Yields, Equities And Oil Are Set To Fall Near Term, But The 'Great Correction' Is Over: Part 2

via: SeekingAlpha at 2019-02-07 10:50:00:000

(This article was first published on January 31, 2019, and is the second installment of a comprehensive report on near-term outlook on various assets classes). US Treasury Bond Yields In the final analysis, the short-term fate of the DXY and EEM are tied to the outlook for the perform… read more...

State Of Oil Markets: Economic And Political Drivers

via: SeekingAlpha at 2019-02-07 05:55:00:000

Of the many factors impacting the price of oil, the global economic growth outlook and the potential for a more formal agreement between Saudi Arabia and Russia stand out. The prospects of an OPEC-Russia-plus agreement is a very complicated one, fraught with so many geopolitical overtones th… read more...

Oil: After A Failed Breakout, What Next?

via: SeekingAlpha at 2019-02-06 20:50:05:000

In my last article on 8 th January, I had highlighted that the price of Brent Oil ( BNO ) would rise till the upper line of the box range pattern after which it shall trade sideways. This belief of mine proved to be true as by 11 th January the price of Brent Oil had risen till the $62.52 … read more...

Global Oil Supplies Are Tightening

via: SeekingAlpha at 2019-02-06 16:42:47:000

Welcome to the Oil Market Fundamental sample report edition of Oil Markets Daily! Oil prices are inching higher today with Brent outperforming WTI and widening the Brent-WTI spread to $8.6/bbl. This is rather surprising since EIA just reported that US exported ~2.8 mb/d of crude last wee… read more...

Crude inventory rise in the last week

via: SeekingAlpha at 2019-02-06 10:31:20:000

EIA Petroleum Inventories: Crude +1.3M barrels vs. +2.2M consensus, +0.9M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

U.S. Oil Production Growth May Be Slowing, But Should MLP/Midstream Investors Worry?

via: SeekingAlpha at 2019-02-06 08:00:42:000

By Stacey Morris The unprecedented growth in US oil and natural gas production in recent years has created significant opportunities for midstream MLPs and corporations as more energy infrastructure has been required to handle rising energy production and exports ( read more ). Understanda… read more...

U.S. crude build expected for third straight week

via: SeekingAlpha at 2019-02-06 04:27:21:000

Oil traders have plenty to digest as the market continues to shift under their feet. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, News on ETFs Read more … read more...

U.S. crude supply rose 2.5M barrels last week, API says

via: SeekingAlpha at 2019-02-05 17:00:41:000

The American Petroleum Institute reportedly shows a build of 2.51M barrels of oil for the week ending Feb. 1, vs. a build of 2.1M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, E… read more...

A Great Month For (Some) Oil And Gas Investors

via: SeekingAlpha at 2019-02-05 16:11:43:000

The past few months have been painful, especially for oil and gas investors who have exposure to the E&P (exploration and production) firms on the market. Since at least October of last year, we have seen continued pressure on investors in this space, as the companies in it have seen their… read more...

Interaction Between Oil Prices And Renewables

via: SeekingAlpha at 2019-02-05 15:59:19:000

Image Sources: https://news.thomasnet.com Two nuclear disasters made structural changes in the renewable industry and its associated technologies. The first disaster was the catastrophic nuclear accident at Chernobyl , Ukraine, in 1986. Oil prices were at low levels at that time. Whil… read more...

OPEC seeking formal pact with Russia to manage global oil market - WSJ

via: SeekingAlpha at 2019-02-05 15:02:38:000

Saudi Arabia and its Persian Gulf allies are proposing a formal partnership with a Russian-led group of countries in hopes of better managing the global oil market, in an alliance that would transform the cartel, WSJ reports, citing OPEC officials. More news on: The United States Oil E… read more...

Some Of Our 2019 Midstream Catalysts Coming To Fruition

via: SeekingAlpha at 2019-02-05 00:59:44:000

By Managing Director and Portfolio Manager James Mick Well, I would say everyone living outside the state of Massachusetts is probably a bit bummed this morning. Not only did the Patriots win yet again, but it was a pretty miserable game to watch. My favorite prop bet was, would Adam Levin… read more...

U.S. Crude Storage Will Build In February But May Surprise To The Downside

via: SeekingAlpha at 2019-02-04 15:54:18:000

Welcome to the surprise to the downside edition of Oil Markets Daily! U.S. crude imports surprised last week showing a drop to just ~7 mb/d, the lowest reading over the last 3 years for that week. Readers should expect the trend to continue thanks to increasing 1) U.S. shale product… read more...

Oil: Fasten Your Seatbelts

via: SeekingAlpha at 2019-02-04 13:44:12:000

After halving in less than three months, oil prices seem to have stabilized: Data by YCharts The sudden reversal in the last month, I believe, is the prelude to another and larger upward move for the reasons I discuss in this article. Inventories Are High, But… The key reason w... read more...

Crude Oil: Expecting A Daily Cycle Decline Soon

via: SeekingAlpha at 2019-02-04 13:43:31:000

We have been eyeing up a long trade in crude oil for the past few weeks. Trading in crude oil as mentioned in previous articles has been highly correlated with equities. In 2018, both asset classes bottomed in February and then rallied moderately to a top in late September/early October. Fro… read more...

Crude prices slump after hitting technical resistance

via: SeekingAlpha at 2019-02-04 12:18:55:000

Crude oil futures tumble after briefly touching their highest intraday levels of the year, as prices threaten to surrender much of the gains they scored last week ; WTI -1.7% to $54.34/bbl, Brent -0.6% to $62.39/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector… read more...

Refiners Make Margin Call On Venezuela

via: SeekingAlpha at 2019-02-04 10:40:34:000

Image Source: Newsmax.com The Brent crude oil price rose slightly to $62.75 per barrel and WTI advanced to 55.26 per barrel at the end of last week, amid concerns over tight supplies of medium and heavy crudes as a result of OPEC output cuts and uncertainties over the implications of US sanc… read more...

U.S. Oil Production Hits New Record High, But The Data Shows The Growth Has Flatlined Since

via: SeekingAlpha at 2019-02-03 14:05:04:000

Welcome to the growth has stalled edition of Oil Markets Daily! The highly anticipated EIA-914 report came out on Jan. 31, showing US oil production surging to 11.9 mb/d for the month of November. Oil markets initially sold-off on that, but close followers of the fundamentals know that t… read more...

WTI Weekly: False Breakdown Early Week, Price Discovery Higher To 55.66s

via: SeekingAlpha at 2019-02-03 02:24:24:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last weeks WTI Weekly , the primary expectation for this week was for sell-side activity provided the near-term stopping point high, 54.52s, held. Th… read more...

This Week In Money - February 2 , 2019

via: SeekingAlpha at 2019-02-03 02:20:01:000

Ross Clark Precious metals, US dollar, Canadian dollar Anthony Scaramucci Markets, uptick rule, international trade. Victor Adair Global economy, crude oil . Larry Reaugh President & CEO of American Manganese Inc. Simon Dya… read more...

U.S. oil rig count slides by 14, Baker Hughes survey says

via: SeekingAlpha at 2019-02-01 13:15:11:000

The total U.S. rig count falls by 14 to 1,045 in the latest weekly survey from Baker Hughes, after rising by 9 last week and tumbling by 25 two week ago. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, En… read more...

U.S. oil rig count slides by 14, Baker Hughes survey says

via: SeekingAlpha at 2019-02-01 13:15:11:000

The total U.S. rig count falls by 14 to 1,045 in the latest weekly survey from Baker Hughes, after rising by 9 last week and tumbling by 25 two week ago. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, En… read more...

What To Expect For Energy In 2019 In Oil, Midstream, Natural Gas And Downstream

via: SeekingAlpha at 2019-02-01 09:18:04:000

By Energy Portfolio Managers Brian Kessens, Matt Sallee, and Rob Thummel Energy stocks have kicked off 2019 in a positive way. With a new year come fourth-quarter earnings calls, which began last week, and the narrative is cautiously optimistic heading into 2019. Companies across the energ… read more...

What To Expect For Energy In 2019 In Oil, Midstream, Natural Gas And Downstream

via: SeekingAlpha at 2019-02-01 09:18:04:000

By Energy Portfolio Managers Brian Kessens, Matt Sallee, and Rob Thummel Energy stocks have kicked off 2019 in a positive way. With a new year come fourth-quarter earnings calls, which began last week, and the narrative is cautiously optimistic heading into 2019. Companies across the energ… read more...

Waves Of Worry Recede

via: SeekingAlpha at 2019-02-01 05:35:07:000

Since last October I've been arguing that the equity selloff had more to do with a "panic attack" than to any serious deterioration in the economy's fundamentals. Waves of worry (e.g., a China economic slowdown, tariff wars, Trump's unpredictability, a weakening Eurozone economy, stumbling e… read more...

Waves Of Worry Recede

via: SeekingAlpha at 2019-02-01 05:35:07:000

Since last October I've been arguing that the equity selloff had more to do with a "panic attack" than to any serious deterioration in the economy's fundamentals. Waves of worry (e.g., a China economic slowdown, tariff wars, Trump's unpredictability, a weakening Eurozone economy, stumbling e… read more...

Crude oil hits two-month high on tighter U.S. supply, Venezuela sanctions

via: SeekingAlpha at 2019-01-30 16:20:13:000

U.S. crude oil jumped to a two-month high , settling +1.7% to $54.23/bbl, helped by U.S. government data that showed signs of tightening supply and potential supply disruptions following U.S. sanctions on Venezuelas oil industry; Brent closed +0.5% at $61.65/bbl. More news on:… read more...

Crude oil hits two-month high on tighter U.S. supply, Venezuela sanctions

via: SeekingAlpha at 2019-01-30 16:20:13:000

U.S. crude oil jumped to a two-month high , settling +1.7% to $54.23/bbl, helped by U.S. government data that showed signs of tightening supply and potential supply disruptions following U.S. sanctions on Venezuelas oil industry; Brent closed +0.5% at $61.65/bbl. More news on:… read more...

Crude Oil - High Confidence Trade Setting Up

via: SeekingAlpha at 2019-01-30 13:19:00:000

You dont need to use leverage to make significant returns each year. As I explained in my article about using leverage with precious metals miner, there is a definite place for it, but by no means is it necessary to achieve upper performance. Being selective and patient, and doing yo… read more...

Crude Oil - High Confidence Trade Setting Up

via: SeekingAlpha at 2019-01-30 13:19:00:000

You dont need to use leverage to make significant returns each year. As I explained in my article about using leverage with precious metals miner, there is a definite place for it, but by no means is it necessary to achieve upper performance. Being selective and patient, and doing yo… read more...

Crude inventory rise slightly

via: SeekingAlpha at 2019-01-30 10:32:37:000

EIA Petroleum Inventories : Crude +0.9M barrels vs. +3.1M consensus, +8.0M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

Crude inventory rise slightly

via: SeekingAlpha at 2019-01-30 10:32:37:000

EIA Petroleum Inventories : Crude +0.9M barrels vs. +3.1M consensus, +8.0M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

Oil Stalls After The Recent Recovery

via: SeekingAlpha at 2019-01-30 06:30:00:000

Crude oil is one of the most political commodities in the world, and geopolitics certainly played a role in the descent of the energy commodity during the final three months of 2018. On October 3, the price of nearby NYMEX WTI crude oil futures traded to its highest price since 2014 at $76.90 … read more...

Oil Stalls After The Recent Recovery

via: SeekingAlpha at 2019-01-30 06:30:00:000

Crude oil is one of the most political commodities in the world, and geopolitics certainly played a role in the descent of the energy commodity during the final three months of 2018. On October 3, the price of nearby NYMEX WTI crude oil futures traded to its highest price since 2014 at $76.90 … read more...

Oil And Gas Industry Dominate January 2019 Dividend Cuts

via: SeekingAlpha at 2019-01-30 05:49:40:000

The near-real time sources that we track for dividend cut announcements is signaling that something wicked is happening within the U.S. oil and gas industry. Setting the scene for context, the fourth quarter of 2018 ended with an ominous undertone in an otherwise positive year for dividend… read more...

Oil And Gas Industry Dominate January 2019 Dividend Cuts

via: SeekingAlpha at 2019-01-30 05:49:40:000

The near-real time sources that we track for dividend cut announcements is signaling that something wicked is happening within the U.S. oil and gas industry. Setting the scene for context, the fourth quarter of 2018 ended with an ominous undertone in an otherwise positive year for dividend… read more...

U.S. crude supply rose 2.1M barrels last week, API says

via: SeekingAlpha at 2019-01-29 17:00:20:000

The American Petroleum Institute reportedly shows a build of 2.1M barrels of oil for the week ending Jan. 25, vs. a build of 6.55M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, En… read more...

Venezuela's Crisis: Oil Market Risk Assessments

via: SeekingAlpha at 2019-01-29 14:32:20:000

On January 23 rd , President Trump recognized the opposition leader of Venezuela's National Assembly, Juan Guaido, as interim president of Venezuela. On Monday, January 28th, the U.S. announced sanctions against the Venezuelan state oil company, PDVSA. The company has long been a vehicle for e… read more...

Crude oil snaps back as U.S. slaps sanctions on Venezuela

via: SeekingAlpha at 2019-01-29 10:27:18:000

Crude oil prices rebound from yesterday's steep losses after the U.S. imposed sanctions on Venezuelan state-owned oil firm PDVSA; WTI +3% to $53.58/bbl, Brent +2.5% to $61.43/bbl. More news on: Valero Energy Corporation, Chevron Corporation, Phillips 66, Energy stocks news, C… read more...

Incentives Matter: Saudi Arabia Is Serious About Higher Oil Prices

via: SeekingAlpha at 2019-01-29 09:55:44:000

Welcome to the incentives matter edition of Oil Markets Daily! Comments by Saudi Energy Minister Khalid Al-Falih were ignored Monday by the oil market amidst the broad risk-off environment. But these comments are serious validations of the fundamental analysis we have done over the last … read more...

Oil Update: January 2019

via: SeekingAlpha at 2019-01-29 06:18:57:000

My forecast for February is that the West Texas Intermediate oil price will range between $50 and $60 per barrel. The lower end of the range is $5 higher than last month's forecast. As outlined by John Kemp, Senior Market Analyst for Reuters, there are five central elements when considering … read more...

5 Key Data Points That Drove The Energy Sector Last Week

via: SeekingAlpha at 2019-01-29 03:34:15:000

By Managing Director and Portfolio Manager Rob Thummel Here in Kansas City, we are still grieving the end of the football season. We are longing to hear the voice of Patrick Mahomes bark a quarterback cadence such as 12, 2020, 68, 39, and 16,426. I guess we will have to wait until next yea… read more...

U.S. launches sanctions against Venezuela's PDVSA oil firm

via: SeekingAlpha at 2019-01-28 16:15:41:000

The U.S. has imposed sanctions on Venezuelan state-owned oil firm PDVSA, White House national security adviser Bolton and Treasury Secretary Mnuchin announce, in a move to cripple the Maduro government and empower opposition leader Juan Guaid. More news on: Chevron Corporation, PBF… read more...

Crude oil plunges on China demand worries, rising U.S. supply

via: SeekingAlpha at 2019-01-28 11:24:52:000

Crude oil prices are sharply lower on worries over signs of an economic slowdown in China and evidence of further growth in U.S. supply; WTI -3.7% to $51.67/bbl, Brent -2.8% at $59.92/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crud… read more...

Outlook For Oil Over The Next Few Years

via: SeekingAlpha at 2019-01-28 06:37:11:000

Overview I invest in oil producers and supply companies. So, I wanted to share my view on the oil market over the medium term. I see a number of bullish factors for the oil market which I will discuss, but at the same time, the global economic slowdown could have a significant opposite effec… read more...

Fundamental Analysis Of The Oil Market

via: SeekingAlpha at 2019-01-27 06:32:36:000

Introduction There are a lot of cross currents in the oil market right now with slowing growth in China and the United States from a trade war, a prolonged government shutdown, Venezuela turmoil, and record domestic oil production in the United States. It should be no surprise that investors… read more...

Watch Those Processing Spreads For Clues On Crude Oil

via: SeekingAlpha at 2019-01-26 06:30:00:000

The fourth quarter of 2018 was a disaster for anyone sitting long crude oil futures. The nearby NYMEX contact teased the longs when it rose to the highest price since 2014 at $76.90 on October 3. A confluence of events weighed on the price of the energy commodity over the next three months. US… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Jan. 25, 2019

via: SeekingAlpha at 2019-01-25 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Also, please note that the E… read more...

U.S. oil rig count jumps by 10, Baker Hughes survey says

via: SeekingAlpha at 2019-01-25 13:18:44:000

The total U.S. rig count rises by 9 to 1,059, according to Baker Hughes' latest weekly report , following last week's decline of 25 total rigs. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks… read more...

Oil Prices And Bond Prices

via: SeekingAlpha at 2019-01-25 09:35:37:000

Over the past month, there has been an interesting parallel between the price of oil and the yield on bonds. Toward the end of December 2018, the price of oil dropped to a near-term low, closing one day at $42.53. Since then, the price has risen, reaching its latest near-term high of just unde… read more...

WTI Weekly: Stopping Point High, 54.51s, Developed Early Week; Price Discovery Back Into Prior Balance As Breakout Fails

via: SeekingAlpha at 2019-01-25 04:56:00:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. Due to a scheduling conflict, this week's article is posted based on Thursday's NY close. 20-24 January 2019: As noted in last week's WTI Weekly , the primary expect… read more...

Crude oil slightly higher amid Venezuela chaos

via: SeekingAlpha at 2019-01-25 04:53:22:000

Oil prices are showing small gains in reaction to the threat of further sanctions by the U.S. government against Venezuela. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Commodities news, Energy stocks news, N… read more...

Do Oil Prices Really Predict Gasoline Prices?

via: SeekingAlpha at 2019-01-25 04:07:45:000

By Bob Iaccino At A Glance OPEC's production cuts will affect global crude oil. Could gasoline prices follow? With the commencement of a new round of OPEC + Russia crude oil production cuts on January 1, many people are worried about a sudden and crippling rise in the price of gasoli… read more...

Oil: Implied Volatility Soars But Path Ahead Is Unclear

via: SeekingAlpha at 2019-01-25 03:52:47:000

By Erik Norland The 44% decline in crude oil prices in Q4 2018 was dramatic but pales in comparison to the 79% plunge between July and December 2008 or the 76% tumble from late 2014 to early 2016. Remarkably, implied volatility on 30-day West Texas Intermediate ((WTI)) crude oil options sp… read more...

Goldman's commodities chief sees 'significant rise' for oil in 2019

via: SeekingAlpha at 2019-01-24 17:45:46:000

There's " significant upside " ahead for crude oil, says Goldman Sachs head of commodities research David Currie, believing Brent crude likely will "overshoot" his $67.50/bbl price target this year. More news on: Kinder Morgan, Inc., Energy Transfer LP, Cheniere Energy, Inc, Energy stocks … read more...

Crude inventory unexpectedly rise

via: SeekingAlpha at 2019-01-24 11:01:14:000

EIA Petroleum Inventories : Crude +8.0M barrels vs. -0.1M consensus, -2.7M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

Shale Stumbles: Now OPEC Can Decide What Price They Want

via: SeekingAlpha at 2019-01-24 10:40:42:000

E.I.A does not report total initial production of shale oil, but it's not hard to work that out from the numbers they do report. You take their number for "rigs" and multiply by "initial production per rig"; take away legacy-loss and you get the total change in capacity (new oil). That's down … read more...

Interview With Paul McGuigan

via: SeekingAlpha at 2019-01-24 08:36:14:000

Mariusz Skonieczny: Paul, you have been monitoring the work at Santo Tomas since 2004. What first drew your attention to the Santo Tomas in comparison to other copper projects? Paul McGuigan: I was the founder of the Cambria group of companies in the mid-1980s, after an early career with… read more...

Copper Is Waiting For A Trade Deal - A Sign Of Life Last Week

via: SeekingAlpha at 2019-01-24 06:30:00:000

Copper is a bellwether commodity, and while many market participants never take a long or short position in the red metal, most watch the price of copper. Copper is a barometer for the economic wellbeing of the global economy. The base metal is also the leader of the nonferrous sector of the c… read more...

OPEC's Iranian Mulligan: Tightening Balances Back To May

via: SeekingAlpha at 2019-01-24 04:11:04:000

Asking oil bulls to remain patient today after a whipsaw 2018 is a tall task, but could prove fruitful. We recently published our quarterly letter here , and it lays out our thoughts for 2019. Our thesis for 2019 is that the oil selloff in the last quarter will lay the foundations for a bulli… read more...

Here Comes The Chinese Trade Deal

via: SeekingAlpha at 2019-01-24 01:39:51:000

As the positive headlines on the Chinese trade front multiply, we have seen stock market action in January that is exactly the opposite of what we saw in December: Were now seeing relentless buying with every dip. I think it would be hilarious if the S&P 500 ends January near 2,80… read more...

U.S. crude supply rose 6.5M barrels last week, API says

via: SeekingAlpha at 2019-01-23 17:00:18:000

The American Petroleum Institute reportedly shows a build of 6.55M barrels of oil for the week ending Jan. 18, vs. a draw of 560K barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, E… read more...

For The First Time In A Long Time, Global Oil Markets Are Finally Moving On Fundamentals Again

via: SeekingAlpha at 2019-01-22 15:17:10:000

For the first time in a long time, our indicators are starting to work… again. The same tools we developed over the summer to help us gauge the health of the global oil markets are returning helping us gauge the direction of where oil prices are headed. This week saw Brent timespreads for... read more...

OPEC Details Production Cuts Which Still Imply A Glut

via: SeekingAlpha at 2019-01-22 13:11:58:000

OPEC finally released its list of voluntary production cuts for the first half of 2019, inclusive of non-OPEC producers. OPECs portion is about 800,000 b/d and the non-OPEC producers share is about 400,000 b/d, as announced December 7 th . Source: OPEC. Initially, a decis… read more...

Do Low Oil Prices Have A Net Gain Or A Net Loss Effect On The U.S. Economy?

via: SeekingAlpha at 2019-01-22 11:47:39:000

The question as to how low oil prices affect the U.S. economy has become more critical amid the expansion of U.S. oil production in the last couple of years. Currently, the U.S. produces more than 11.5 million barrels per day and is the world leading oil producer followed by Russia and Saudi A… read more...

Oil service stocks slide amid Halliburton earnings, crude oil plunge

via: SeekingAlpha at 2019-01-22 11:25:58:000

Oil service stocks are reversing Friday's big gains, with the OSX Index dropping as much as 4.2% following bellwether Halliburtons ( HAL -5.4% ) Q4 results and crude oil's sharp drop amid more signs of an economic slowdown in China, sparking concerns about global growth and fue… read more...

The Daily Drilling Report's Almanac And Gazette: January 2019 Edition

via: SeekingAlpha at 2019-01-22 04:18:43:000

Introduction T'was the night before Christmas and oil was finished… again. Down on Christmas Eve by another 8%. It was kaput. Out with hydrocarbons and switch on your electric whatever, with power sourced from solar, wind, and hydro. The "Clean Future" of energy had arrived in Whoville (a ... read more...

What The Saudi Budget Means For Oil

via: SeekingAlpha at 2019-01-22 02:10:29:000

Saudi Arabia announced its 2019 budget recently and it contained a few surprises . The budget will boost spending even as Saudi Arabia endeavors to close its budget deficit, indicating Riyadhs priority to spur growth in an economy hurt by lower oil prices. State spending will incre… read more...

China Rebound Will Lift Commodity Prices

via: SeekingAlpha at 2019-01-21 14:04:34:000

Could a revival of China's financial market and manufacturing sector prospects in 2019 stimulate higher prices for commodities? That's what many commodity traders are banking on, and there are reasons to support this optimistic outlook. In today's report, we'll examine the exciting development… read more...

Weekly Energy Recap: Crude Oil Price Rise Signals A Return To Balanced Market

via: SeekingAlpha at 2019-01-21 13:30:55:000

Crude oil prices recovered by the end of the week, with the Brent crude price settling above $60 per barrel after deteriorating below that level during the week. The Brent price rose to $62.70 per barrel and WTI rose to $53.80 per barrel. Image Source: Tradingeconomics.com The price mark… read more...

Crude Oil: Brand New Yearly Cycle?

via: SeekingAlpha at 2019-01-21 09:12:56:000

Crude oil rallied past $54 a barrel on Friday, the 18th of January. The commodity bottomed along with equities on Christmas Eve last year. This means the commodity is up well over 25% or $11+ a barrel over the past 4 weeks alone. We were short the regular January $10 put option which expired f… read more...

Crude Oil Threatens To Keep The Rebound Going - OIH Is One ETF That Remains Cheap

via: SeekingAlpha at 2019-01-20 06:30:00:000

On Friday, January 18 the price of crude oil traded to a new short-term high at over the $54 per barrel level on the nearby NYMEX February futures contract. The price path of the energy commodity has been a wild ride since finding a peak of $76.90 per barrel on October 3. The final three month… read more...

This Week In Money - January 19, 2019

via: SeekingAlpha at 2019-01-20 02:59:29:000

Ross Clark Stock markets, gold, crude oil, Canadian dollar. Rick Rule Gold, silver, his biggest win. Wolf Richter - Automotive sector, global slowdown, US dollar. Larry Reaugh - President & CEO of American Manganese Inc. Jim Pettit … read more...

Strong U.S. Data, Trade Solace, And Consistent Fed Speak Drive Strong Dollar And Risk Narrative

via: SeekingAlpha at 2019-01-19 03:29:44:000

By Ed Moya The US dollar rally continues to be supported by strong US data, accommodative comments from Fed officials, and a very strong US stock market. This week also saw big shifts in interest rate probabilities, the market shifted from seeing the next move go from a cut to now favoring… read more...

WTI Weekly: Balance Development 50.38s-52.88s Before Buy-Side Continuation To 54.14s Into Week's End

via: SeekingAlpha at 2019-01-19 00:19:05:000

In this article, we examine the significant weekly order flow and market structure developments driving the WTI price action. 13-18 January 2019: As noted in last week's WTI Weekly , the primary expectation for this week was for buy-side activity provided key support, 51.37s-50.35s, hel… read more...

Open Square Q4 2018 Letter: Embers Of Unintended Consequences

via: SeekingAlpha at 2019-01-18 19:29:56:000

As always, we welcome your Read more … read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Jan. 18, 2019

via: SeekingAlpha at 2019-01-18 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

Oil Market Supply Deficit To Return By Q2 2019

via: SeekingAlpha at 2019-01-18 14:41:26:000

Welcome to the IEA report edition of Oil Markets Daily! IEA published its highly anticipated oil market report today and one of the drivers of today's oil rally is the forecast from the energy agency that the oil market supply deficit will return by Q2 2019. Source: IEA The assumpt… read more...

U.S. oil rig count tumbles by 25 in Baker Hughes survey

via: SeekingAlpha at 2019-01-18 13:17:23:000

The total U.S. rig count plunges by 25 to 1,050, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commodities news, News on ETFs… read more...

Crude oil rallies as China said to offer plan to eliminate trade imbalance

via: SeekingAlpha at 2019-01-18 11:14:46:000

Crude oil surges to six-week highs after China reportedly has offered to ramp up its purchases of U.S. imports over six years to $1T/year, with the goal of eliminating its trade surplus with the U.S.; WTI +3.4% to $53.87/bbl, Brent +2.8% to $62.92/bbl. More news on: Exxon Mobil… read more...

IEA sees 'gradual' oil market rebalancing

via: SeekingAlpha at 2019-01-18 04:16:14:000

"The journey to a balanced oil market will take time, and is more likely to be a marathon than a sprint," according to the IEA's closely watched monthly report. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, … read more...

Crude Oil Will Find Strong Resistance Between $52-55 Ppb

via: SeekingAlpha at 2019-01-18 03:57:47:000

Our Adaptive Fibonacci modeling system is suggesting Crude Oil may have already reached very strong resistance levels just above $50 ppb. It is our opinion that a failed rally above $55 ppb will result in another downward price move where prices could retest the $42 low - or lower. You can s… read more...

OPEC December Production Data

via: SeekingAlpha at 2019-01-18 01:30:58:000

All OPEC data below is from the January OPEC Monthly Oil Market Report . All OPEC data is through December 2018 and is thousand barrels per day. Qatar has left OPEC and is not included in this month's report. All Qatar historical data has been removed from all OPEC charts. OPEC 14 product… read more...

Facts And Figures From The 2018 Oil Market

via: SeekingAlpha at 2019-01-17 11:45:03:000

Examining the narrative The fourth quarter brought about a precipitous drop in the price of oil. Brent Crude fell 41% in three months. Steep downward price action is not unprecedented i n oil markets 1 . H owever the decline over the first thirty days of the quarter was historic with oil l… read more...

OPEC oil production falls in December

via: SeekingAlpha at 2019-01-17 06:41:34:000

Delivering a bullish signal to the oil market, OPEC got a jump on its output cut deal in December. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, News on ETFs, Commodities news, Energy stocks news, Top stock … read more...

Art Berman: Exposing The False Promise Of Shale Oil

via: SeekingAlpha at 2019-01-17 04:25:55:000

Art Berman, geological consultant with over 37 years' experience in petroleum exploration and production, returns to the podcast this week to debunk much of the hopium currently surrounding America's shale oil output. Because the US is pinning huge hopes on its shale oil "revolution," so muc… read more...

Canadian Heavy Oil Discount Falls Into The Single Digits - Crude Quality Matters

via: SeekingAlpha at 2019-01-16 16:05:45:000

Welcome to the single-digit edition of Oil Markets Daily! Western Canadian Select (WCS), or Canadian heavy oil prices, is trading at a discount of $7.50/bbl on the prompt future. Source: BMO That's staggering considering that just three months earlier, Canadian heavy oil producers we… read more...

Crude inventory declines in the last week

via: SeekingAlpha at 2019-01-16 10:31:03:000

EIA Petroleum Inventories : Crude -2.7M barrels vs. -1.3M consensus, -1.7M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on … read more...

U.S. crude supply fell 560K barrels last week, API says

via: SeekingAlpha at 2019-01-15 17:05:32:000

The American Petroleum Institute reportedly shows a draw of 560K barrels of oil for the week ending Jan. 11, vs. a draw of 6.13M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, En… read more...

Crude oil rebounds as China pledges stimulus moves

via: SeekingAlpha at 2019-01-15 16:06:18:000

Crude oil futures reclaim some of the losses suffered over back-to-back sessions as Chinese officials said the government planned to introduce policies to improve credit availability for smaller companies, accelerate infrastructure investment and reduce taxes; U.S. WTIsettled +3.2%… read more...

The Physical Oil Market Is Rebalancing Following The Export Surge In November

via: SeekingAlpha at 2019-01-15 15:44:26:000

Welcome to the rebalancing edition of Oil Markets Daily! The physical oil market is starting to rebalance which will be another bullish tailwind for oil prices going forward. We wrote a piece on Jan 3 titled, " Q4 Global Oil Market Deficit Offset By Export Ramp From The Big 5 ", the expo… read more...

Why Oil's Going Higher

via: SeekingAlpha at 2019-01-15 14:32:24:000

As the new year kicks up, its important to take stock of where the oil markets currently stand. With oil having just climbed back above $50 per barrel in the past several days, investors clearly fear that its more of a bears market than a bulls. While some event… read more...

First U.S. crude cargoes head to China since trade war pause - Reuters

via: SeekingAlpha at 2019-01-15 11:34:42:000

Three cargoes of U.S. crude oil are heading to China from the U.S. Gulf Coast, the first departures since September and a 90-day pause in the U.S.-China trade dispute that began last month, Reuters reports. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return… read more...

Crude oil -2% after weak China economic data

via: SeekingAlpha at 2019-01-14 16:08:50:000

Crude oil futures fell for a second straight session after rising for nine straight days through last Thursday, the longest streak of gains since 2010; February WTI settled -2.1% to $50.51/bbl, Brent -2.5% to $58.99/bbl. More news on: The United States Oil ETF, LP, Energy Select Sec… read more...

The Canadian Oil Differentials Will Remain Normal In 2019, Could Narrow Further In 2020

via: SeekingAlpha at 2019-01-14 07:15:00:000

When it comes to oil supply and demand, every disastrous scenario was extracted into infinity in Q4 2018 and the energy investors were pricing Armageddon that would last forever. This highly speculative and frivolous approach along with tax loss selling, margin selling, negative sentiment, Tru… read more...

WTI Weekly: Price Discovery Higher To 53.31s Within Prior Key Supply; Sell Response There Halting The Auction

via: SeekingAlpha at 2019-01-13 10:05:25:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 06-11 January 2019: As noted in last week's WTI Weekly , the primary expectation for this week was for price discovery higher toward key supply overhead, 50s-54s, wi… read more...

No need for OPEC meeting before April

via: SeekingAlpha at 2019-01-13 02:34:00:000

OPEC's largest oil producer is willing to work with all parties to balance the crude market in 2019, and that could include President Trump, Saudi Energy Minister Khalid al-Falih told an oil conference in Abu Dhabi. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Tot… read more...

Fed's Dovishness Confirmed - Focus Shifts To Brexit And Earnings Season

via: SeekingAlpha at 2019-01-12 13:40:45:000

By Ed Moya The US dollar continues to weaken in 2019, this week's decline was supported by the Fed's minutes and a busy week of FOMC talk that cemented views that the Fed can wait on the next interest rate hike. The narrative now shifts from central bank focus to Brexit and earnings season… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Jan. 11, 2019

via: SeekingAlpha at 2019-01-11 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

Oil slips to end nine-session win streak but climbs 8% for the week

via: SeekingAlpha at 2019-01-11 15:57:13:000

Crude oil prices fell today to snap a nine-session winning streak but still ended the week nearly 8% higher, as production cuts by major producers, a weaker dollar and further export declines from sanctioned Iran lifted prices; February WTI settled -1.9% to $51.59/bbl, Brent -1.7% to $… read more...

U.S. oil rig count falls by 4, gas rigs gain in Baker Hughes survey

via: SeekingAlpha at 2019-01-11 13:15:56:000

The total U.S. rig count remains unchanged at 1,075, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commodities news, News on … read more...

Non-Farm Payroll Beat Sparks Market, What's Next?

via: SeekingAlpha at 2019-01-11 02:52:00:000

What a ride the beginning of the year has been so far! As we warned in our year-end and 2019 outlook, the equity markets were most likely set up for some bottom-pickers to step in and show their support out of the gates. Show up they certainly did - after an initial two-day drubbing, the DJIA … read more...

Oil logs longest rally in nearly 10 years

via: SeekingAlpha at 2019-01-10 14:54:52:000

WTI crude isn't up a lot today, but it is up 0.6% . That marks the 9th consecutive session of gains - the longest winning streak in about nine years, according to Marketwatch. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares … read more...

Oil Breaks Downtrend, Dollar Is Breaking Down, Energy Stocks Make V-Shaped Recovery, And Emerging Market Stocks Ready To Make A Big Move

via: SeekingAlpha at 2019-01-10 10:33:12:000

Note : This report was first published to HFI Research subscribers on Sunday, hence the price quotes below are from the close of last Friday. Oil breaks downtrend. Dollar is breaking down. Energy stocks make V shaped recovery. Emerging market stocks ready to make a big move. 1…. read more...

A Christmas Eve Low In Crude Oil

via: SeekingAlpha at 2019-01-10 06:30:00:000

The price of crude oil can be highly volatile for a myriad of reasons. The energy commodity reflects the global economic landscape. During periods of economic growth, demand tends to rise causing higher prices. Economic contraction often has the reverse impact on the price of oil. Since the Mi… read more...

Saudi oil reserves rise to 268B barrels, independent audit says

via: SeekingAlpha at 2019-01-09 18:50:25:000

Saudi Arabia's oil reserves are a bit bigger than previously reported, according to an independent audit issued as part of preparations for the IPO of state oil company Saudi Aramco. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocitySha… read more...

Crude oil rally intensifies; WTI surges 5% to top $50/bbl

via: SeekingAlpha at 2019-01-09 12:26:10:000

Crude oil prices roar back after earlier paring gains as government data showed U.S. crude stocks fell less than expected last week, with the WTI benchmark topping $50/bbl for the first time since mid-December on continued optimism over U.S.-China trade talks and Saudi production cuts; … read more...

Crude Oil: Yearly Cycle Low Most Likely In

via: SeekingAlpha at 2019-01-09 12:06:38:000

The aggressiveness of crude oil's latest rally in all likelihood means that the commodity has printed a multi-year bottom. We were a tad early in our long trade recently when we went short the $11 USO put while correspondingly going long the $11 April call. With over 3 months though to go to… read more...

Futures give up 1% gain on crude inventory number

via: SeekingAlpha at 2019-01-09 10:31:32:000

EIA Petroleum Inventories : Crude -1.7M barrels vs. -2.4M consensus, flat last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Stocks on the move, Commodities news, Energy stocks news, News on E… read more...

Back To Basics: The MLP And Midstream Investment Thesis

via: SeekingAlpha at 2019-01-09 08:00:50:000

By Stacey Morris Given oil price volatility and the recent roller-coaster ride in the broader market, it seems like an opportune time to get back to the basics of MLP and midstream investing. Key to the investment thesis for midstream is the expectation for growing energy supply from the U… read more...

2019 Oil Market Outlook: OPEC Will Cause Prices To End Up Higher Than Forecast

via: SeekingAlpha at 2019-01-09 00:13:23:000

In 2019, I entered my fourth year as a writer on Seeking Alpha. Through all this time, with more than 550 articles written, my most widely read article continues to be an early 2016 article predicting the OPEC oil production cut before it happened. I plan to make this a tradition, and as a r… read more...

U.S. crude supply fell 6.2M barrels last week, API says

via: SeekingAlpha at 2019-01-08 17:05:01:000

The American Petroleum Institute reportedly shows a draw of 6.13M barrels of oil for the week ending Jan. 4, vs. a draw of 4.46M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Ener… read more...

Weekly Energy Recap: Oil Bulls Oust Bears In The First Week Of 2019

via: SeekingAlpha at 2019-01-08 12:27:06:000

After dwindling to near 16-month lows at the end of 2018, oil prices bounced back in the first week of the year, helped by OPECs proactive output cuts and positive economic news from the US. The year 2019 started with a progressive rebound in oil prices after the 2018-year end nose-d… read more...

Oil 2019 Forecast: A Tug Of War Between Bulls And Bears

via: SeekingAlpha at 2019-01-08 09:26:13:000

From the beginning of October 2018, the price of Brent Oil ( BNO ) and WTI Crude ( OIL ) have been in sharp descent which has resulted in them shedding roughly 45% of their value. Thus, the big question investors will have is whether the decline in oil prices has come to an end or not. Hence t… read more...

How Electric Vehicles Could Impact Future Oil Demand

via: SeekingAlpha at 2019-01-08 01:20:19:000

By Managing Director and Energy Portfolio Manager James Mick Happy New Year to everyone as I get to kick off 2019 with the first Tortoise podcast of the year! Christmas this year was especially kind to equities. The stock market and energy stocks specifically were hit hard prior to the 25t… read more...

Goldman cuts 2019 oil price outlook on oversupply concerns, U.S. shale growth

via: SeekingAlpha at 2019-01-07 15:28:50:000

Goldman Sachs cuts its oil price forecasts for 2019 , citing rising global production and surprisingly resilient U.S. shale growth, even as crude continues to move away from Decembers 18-month lows; February WTI settled +1.2% at $48.52/bbl. More news on: BP p.l.c., Royal Dutch… read more...

Crude oil climbs as Saudis said to plan to cut exports by 800K bbl/day

via: SeekingAlpha at 2019-01-07 11:19:41:000

Crude oil extends its recent rally from 18-month lows, bumping to highs of the day after OPEC officials say Saudi Arabia plans to cut crude exports to 7.1M bbl/day by the end of January, as it seeks a return to $80/bbl oil to cover a massive government spending boost: WTI +3.4% to $… read more...

Boslego Risk Services: Oil Positioning Approach For 2019

via: SeekingAlpha at 2019-01-07 11:06:55:000

For long-only, long-term oil & gas investors, 2018 turned out to be a brutal year. They complain about being sucker-punched by President Trumps granting of waivers to buy oil from Iran after he got Saudi Arabia and friends to pump-up their output before sanctions went into effect. … read more...

Greenback Looks Vulnerable

via: SeekingAlpha at 2019-01-07 04:20:16:000

Fed Chair Powell struck a responsive chord for investors by indicating that officials can be patient and can respond to changing economic dynamics. Powell, who had been previously praised for his straight-talking manner, was able to ease angst among investors without negating the Fed's assessm… read more...

WTI Weekly: Pullback Early Week To Key Support, Buy Response And Price Discovery Higher To 49.22s

via: SeekingAlpha at 2019-01-05 15:33:40:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 30 December 2018 - 4 January 2019: As noted in last weeks WTI Weekly , the primary expectation for this week was for price discovery higher within the context … read more...

WTI Weekly: Pullback Early Week To Key Support, Buy Response And Price Discovery Higher To 49.22s

via: SeekingAlpha at 2019-01-05 15:33:40:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 30 December 2018 - 4 January 2019: As noted in last weeks WTI Weekly , the primary expectation for this week was for price discovery higher within the context … read more...

CVI's Oil & Gas E&P Index: A Rough End To A Fascinating Year

via: SeekingAlpha at 2019-01-05 10:53:39:000

For at least the third month in a row, the oil and gas sector, particularly E&P firms operating in the space, was hit and hit hard at that. In my Marketplace Service, Crude Value Insights, I cover a list of more than 50 E&P firms and track their performance monthly. What I discovered w… read more...

CVI's Oil & Gas E&P Index: A Rough End To A Fascinating Year

via: SeekingAlpha at 2019-01-05 10:53:39:000

For at least the third month in a row, the oil and gas sector, particularly E&P firms operating in the space, was hit and hit hard at that. In my Marketplace Service, Crude Value Insights, I cover a list of more than 50 E&P firms and track their performance monthly. What I discovered w… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Jan. 4, 2019

via: SeekingAlpha at 2019-01-04 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Jan. 4, 2019

via: SeekingAlpha at 2019-01-04 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

U.S. oil rig count slumps by 8 in Baker Hughes survey

via: SeekingAlpha at 2019-01-04 13:11:56:000

The total count of active drilling rigs in the U.S. drops by 8 to 1,075, Baker Hughes says in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commodities news… read more...

Will Oil Prices Rise In 2019?

via: SeekingAlpha at 2019-01-04 11:08:52:000

2018 was an interesting year, especially for oil prices. We saw unexpected and unusual vicissitudes as prices posted four-year highs and then almost crashed $30 in a span of two months. Oil entered a losing streak unprecedented in the last 34 years , and we witnessed a historical Santa Claus … read more...

Gasoline & Distillates inventory unexpectedly rise

via: SeekingAlpha at 2019-01-04 11:01:53:000

EIA Petroleum Inventories : Crude 0.0M barrels vs. -3.1M consensus, 0.0M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Energy stocks ne… read more...

Oil jumps more than 3% on renewed U.S.-China trade hopes

via: SeekingAlpha at 2019-01-04 10:24:01:000

Crude oil prices surge after China said it would hold trade talks with the U.S., also helped by signs of lower crude supply and strong economic data; WTI +3.4% to $48.70/bbl, Brent +3.3% to $57.80/bbl. More news on: Exxon Mobil Corporation, Chevron Corporation, BP p.l.c., Energ… read more...

2018 Review And Outlook 2019

via: SeekingAlpha at 2019-01-04 09:20:28:000

Originally posted on December 31, 2018 Before we get into a review of the important facets of 2018, let's take a look at last year's year-end letter and take note of what we foretold. Here is what we wrote as to what we thought was in store for 2018 in terms of the equity markets, "Will th… read more...

U.S. crude supply fell 4.5M barrels last week, API says

via: SeekingAlpha at 2019-01-03 17:00:26:000

The American Petroleum Institute reportedly shows a draw of 4.46M barrels of oil for the week ending Dec. 28, vs. a build of 6.9M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, E… read more...

Q4 Global Oil Market Deficit Offset By Export Ramp From The Big 5

via: SeekingAlpha at 2019-01-03 15:35:19:000

Welcome to the deficit offset edition of Oil Markets Daily! Heading into Q4 2018, the oil market was abuzz with talks of $100 oil again. Headlines from CNBC touted that there was nothing OPEC could do to prevent oil prices from heading to triple digits. This consensus sentiment sent the … read more...

Oil prices rebound after early slide, as surveys show declining output

via: SeekingAlpha at 2019-01-03 15:29:16:000

Crude oil prices rose for the fourth straight session in volatile trade, boosted by separate surveys that revealed monthly production declines from major producers; February WTI settled +1.2% to $47.09/bbl, while Brent +1.9% at $55.95/bbl. More news on: Exxon Mobil Corporation, Chev… read more...

PAM's 2019 Outlook For The Dollar, Bond Yields, And Precious Metals

via: SeekingAlpha at 2019-01-03 13:03:31:000

This article was originally published December 31, 2018. As we go into the final trading day of 2018, the themes that we have been tracking day to day looks likely to continue over and through New Year's day. At this juncture, all the signaling information is coming mostly from the behavio… read more...

Can Refiners Save WTI?

via: SeekingAlpha at 2019-01-03 11:19:51:000

Last month, I made the case that WTI ( USO ) is not only headed lower, but it is likely to remain low for the next few months. In this piece, I would like to advance this thesis by responding to some of the arguments made on previous articles as well as examine additional factors which are lik… read more...

The WTI Crude Oil Price In 2019

via: SeekingAlpha at 2019-01-03 07:17:42:000

Although I am mostly interested in equities and currencies, not long ago I attempted to predict an oil price spike in late 2018. The oil price then continued its relentless decline, and I learned a few lessons. The first lesson, or rather the first important reminder, is that market moveme… read more...

Nothing To See Here, It's Just Everything

via: SeekingAlpha at 2019-01-03 06:30:37:000

The politics of oil are complicated, to say the least. There're any number of important players, from OPEC to North American shale to sanctions. Relating to that last one, the US government has sought to impose serious restrictions upon the Iranian regime. Choking off a major piece of that cou… read more...

2019 Will Be An Echo Of 2016 Due To Central Bank Policy

via: SeekingAlpha at 2019-01-03 03:23:41:000

This report will show how markets are developing the same characteristics as they developed in the 2015-2016 period when the big five global central banks last tried to tighten monetary policy. It will compare and contrast the behavior of each major asset class to the same time in 2015-2016 wh… read more...

EIA 914: U.S. Oil Production Increase In October Was Less Than Expected

via: SeekingAlpha at 2019-01-02 17:16:22:000

Welcome to the less than expected edition of Oil Markets Daily! EIA 914 was released on Monday, showing US oil production reaching 11.537 mb/d, a new record. But the increase of 79k b/d month-over-month was less than what the weekly + adjustment factor illustrated: But if you don't use… read more...

Crude oil rallies, reversing earlier losses

via: SeekingAlpha at 2019-01-02 10:42:59:000

Crude oil prices reverse course to turn higher after falling sharply on rising output from major producers and concerns about an economic slowdown; WTI +2.8% to $46.69/bbl, Brent +3.1% to $55.45/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iP… read more...

Oil pulls back to start the new year

via: SeekingAlpha at 2019-01-02 06:18:44:000

Crude futures retreated to start the new year, falling as much as 2.2% to $44.41/bbl, amid concerns about a downturn in China that could squeeze demand for oil at a time when supply is in a big surplus. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Ind… read more...

Where Is Oil Headed In 2019? Just Watch What The Saudis Want Closely

via: SeekingAlpha at 2018-12-31 15:00:28:000

Welcome to the "pay attention to incentives edition" of Oil Markets Daily! The bittersweet 2018 is coming to an end. What was an amazing first-half ended with one of the worst quarterly sell-offs for oil in history. There were clear signs by the middle of 2018 that the incentives from th… read more...

Where Is Oil Headed In 2019? Just Watch What The Saudis Want Closely

via: SeekingAlpha at 2018-12-31 15:00:28:000

Welcome to the "pay attention to incentives edition" of Oil Markets Daily! The bittersweet 2018 is coming to an end. What was an amazing first-half ended with one of the worst quarterly sell-offs for oil in history. There were clear signs by the middle of 2018 that the incentives from th… read more...

Oil Update - December 2018

via: SeekingAlpha at 2018-12-31 06:34:10:000

December was a challenging month for the stock market and oil prices. The price of oil fell much further than I expected. My forecast for the next four weeks is that West Texas Intermediate price will range between $45 and $60 per barrel. In my view, the current price of about $45 per barrel… read more...

Oil Update - December 2018

via: SeekingAlpha at 2018-12-31 06:34:10:000

December was a challenging month for the stock market and oil prices. The price of oil fell much further than I expected. My forecast for the next four weeks is that West Texas Intermediate price will range between $45 and $60 per barrel. In my view, the current price of about $45 per barrel… read more...

Oil: 2018 In Review, 2019 In Preview

via: SeekingAlpha at 2018-12-30 14:45:06:000

If theres one thing oil bulls and bears can both agree on, its that 2018 has been a wild ride. After seeing crude prices soar to multi-year highs, they tanked again, falling to below $43 per barrel at one point for WTI. As the year is coming to a close, its looking like… read more...

WTI Weekly: Sell-Side Breakdown Early Week, Price Discovery To 42.36s, Rejection Of The Low

via: SeekingAlpha at 2018-12-30 08:42:17:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 23-28 December 2018: As noted in last weeks WTI Weekly , the primary expectation for this week was for price discovery lower within the context of potential de… read more...

Low Oil Prices And The Flawed Leaner, Meaner Shale Industry Theory

via: SeekingAlpha at 2018-12-29 14:21:33:000

The low oil price environment helped to shape the US shale oil and gas industry into a leaner, meaner machine is what the general investment community consensus has become. It's the simple theory of hardships and adversity helping weed out the weak, strengthen the already stronger ones and whi… read more...

Energy Recap: A Look Back At 2018

via: SeekingAlpha at 2018-12-28 19:03:00:000

Welcome to the latest edition of the Energy Recap, the final one for 2018. It was another interesting year, with lots of highlights and lowlights in the sector. Here are just a few notable energy-related items: OPEC raised oil production back in June, then cut it by 1.2 BPD in December. Th… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-12-28 11:01:32:000

EIA Petroleum Inventories : Crude -0.0M barrels vs. -2.9M consensus, -0.5M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Top stock mark… read more...

Crude Oil: What The Shale Is Going On?

via: SeekingAlpha at 2018-12-28 10:48:36:000

Please Note: This analysis was prepared using end of week data (December 21st). The specific contract of reference is the NYMEX WTI Crude Oil February 2019 futures contract (CLG9). All indicators and valuations reflect the same. Quick Take On the back of rising inventories and deteriorat… read more...

Unmixed Signals

via: SeekingAlpha at 2018-12-28 08:31:03:000

In mid-December, the Bank for International Settlements ((BIS)) published its regular quarterly update. It was just in time for the current bout of "overseas turmoil" which included a lot that wasn't overseas. The BIS noticed I'm sure reluctantly . Financial markets swung widely, eventuall… read more...

Crude Oil Continues To Melt

via: SeekingAlpha at 2018-12-28 07:30:00:000

When the price of crude oil began to decline in early October, it looked like it was going to be just another correction from a new high that would lead to even loftier levels by the end of 2018. As the sanctions on Iran were approaching in early November, market sentiment in the energy commod… read more...

Crude also gives back some gains

via: SeekingAlpha at 2018-12-27 12:21:53:000

The major averages are giving back a bit less than half of yesterday's surge, with the Nasdaq currently lower by 2% and the S&P 500 by 1.45% . More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, T… read more...

What To Watch In Energy Markets In 2019

via: SeekingAlpha at 2018-12-27 06:32:11:000

By Owain Johnson At a Glance The U.S. role in global crude oil flows will continue to be a story in the year ahead. The only certainty about global energy is that the markets will continue to surprise in 2019. The energy business has always been notorious for its ups and downs. This … read more...

3 Reasons Why Brent-WTI Remains Bid

via: SeekingAlpha at 2018-12-27 06:15:00:000

The oil market has been in freefall. The price of the energy commodity declined from $76.90 on October 3 to its latest low at $42.36 on Christmas Eve. Rising U.S. production, economic weakness in China, a falling U.S. stock market, the trade dispute between the U.S. and China, and a strong dol… read more...

Plop Plop Fizz Fizz, Oh What A Relief It Is

via: SeekingAlpha at 2018-12-27 05:53:34:000

By Stephen Innes Markets Thankfully for investors, the relentless selling on the back of risk-off sentiment which prevailed leading up to Xmas has mercifully halted, as US stock markets recorded significant gains, with the Dow surging over 1000 points while adding the most significant po… read more...

Oil prices rebound as some traders say slide is overdone

via: SeekingAlpha at 2018-12-26 11:50:54:000

Crude oil prices, caught up in the wider weakness of the financial markets, are staging a recovery today amid perceptions that the recent slide may have been overdone: WTI +6.1% to $45.11/bbl, Brent +4.8% to $52.91/bbl. More news on: Exxon Mobil Corporation, Chevron Corporation,… read more...

The Next Energy Leg

via: SeekingAlpha at 2018-12-26 06:30:00:000

2018 seems to be ending on the wrong note in the markets. December is setting the wrong kind of records, and Q4 has been a bumpy one in general. This is what happens in the stock market sometimes, but it's been easy to forget over the decade-long bull market. We're using the end of the year … read more...

Weekly Energy Recap: World Oil Crisis Looms As Supply Levels Under Threat

via: SeekingAlpha at 2018-12-24 14:19:01:000

Oil prices continued their decline last week, with the market adversely affected by global financial turmoil, slowing growth and deteriorating liquidity. The week ended with losses of about $5 per barrel the steepest decline in three years with prices now around $33 lower tha… read more...

Weekly Energy Recap: World Oil Crisis Looms As Supply Levels Under Threat

via: SeekingAlpha at 2018-12-24 14:19:01:000

Oil prices continued their decline last week, with the market adversely affected by global financial turmoil, slowing growth and deteriorating liquidity. The week ended with losses of about $5 per barrel the steepest decline in three years with prices now around $33 lower tha… read more...

U.S. crude oil plunges 6.7% to $42.53/bbl, weakest since mid-2017

via: SeekingAlpha at 2018-12-24 13:56:47:000

U.S. crude oil futures plunged below $43/bbl for the first time since June 2017 , with February WTI settling -6.7% to $42.53/bbl and declining in tandem fall in line with another precipitous drop across global stock markets. More news on: Exxon Mobil Corporation, Chevron Corporation, Ro… read more...

U.S. crude oil plunges 6.7% to $42.53/bbl, weakest since mid-2017

via: SeekingAlpha at 2018-12-24 13:56:47:000

U.S. crude oil futures plunged below $43/bbl for the first time since June 2017 , with February WTI settling -6.7% to $42.53/bbl and declining in tandem fall in line with another precipitous drop across global stock markets. More news on: Exxon Mobil Corporation, Chevron Corporation, Ro… read more...

U.S. Crude Plumbs To The Downside While Markets And Fed Bicker

via: SeekingAlpha at 2018-12-24 10:27:50:000

The current market swoon continues to plate up myriad short opportunities to possibly soak up long losses in other areas of a well diversified portfolio. West Texas Intermediate crude presents a tempting dish. The US priced commodity has settled below $50/barrel on the New York Mercantile Ex… read more...

U.S. Crude Plumbs To The Downside While Markets And Fed Bicker

via: SeekingAlpha at 2018-12-24 10:27:50:000

The current market swoon continues to plate up myriad short opportunities to possibly soak up long losses in other areas of a well diversified portfolio. West Texas Intermediate crude presents a tempting dish. The US priced commodity has settled below $50/barrel on the New York Mercantile Ex… read more...

Oil dives to new lows

via: SeekingAlpha at 2018-12-24 08:03:09:000

Modestly higher earlier this morning maybe thanks to an OPEC pledge to prop up prices, oil has reversed, with the decline picking up steam over the past half hour (alongside a reversal to the downside in stock index futures). Has someone told OPEC it's no longer the world's marginal prod… read more...

Oil dives to new lows

via: SeekingAlpha at 2018-12-24 08:03:09:000

Modestly higher earlier this morning maybe thanks to an OPEC pledge to prop up prices, oil has reversed, with the decline picking up steam over the past half hour (alongside a reversal to the downside in stock index futures). Has someone told OPEC it's no longer the world's marginal prod… read more...

OPEC confirms pledge to prop up prices

via: SeekingAlpha at 2018-12-24 04:22:42:000

OPEC hasn't even started implementing its new six-month agreement to trim 1.2M barrels per day in output, but the group is already prepared to lengthen or deepen the cuts. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Cr… read more...

OPEC confirms pledge to prop up prices

via: SeekingAlpha at 2018-12-24 04:22:42:000

OPEC hasn't even started implementing its new six-month agreement to trim 1.2M barrels per day in output, but the group is already prepared to lengthen or deepen the cuts. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Cr… read more...

WTI Weekly: Sell-Side Breakdown Early Week, Price Discovery To 45.13s

via: SeekingAlpha at 2018-12-23 09:51:11:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 16-21 December 2018: As noted in last weeks WTI Weekly , the primary expectation for this week was for a buy-side bias following the multi-week balance around … read more...

Financialization And The Volatility Of Commodity Prices

via: SeekingAlpha at 2018-12-22 06:05:24:000

A recent article in the Journal of Risk and Financial Management takes a fresh look at a familiar issue: whether the development of exchange-traded funds (ETFs) and related instruments tracking the commodities industry (or, in short, the financialization of commodities) has had an impact o… read more...

Will Alberta's Production Cuts Restore Balance To Oil Prices?

via: SeekingAlpha at 2018-12-22 03:45:31:000

Canadian oil prices have surged since Alberta called for a cut in production. But some are asking if this will be enough to address oversupply, takeaway capacity concerns and the oil discount. Anthony Okolie talks with Brian DePratto, Senior Economist, TD Bank Read more … read more...

Volatility And Risk Aversion Continue To Dominate December

via: SeekingAlpha at 2018-12-22 03:23:21:000

By Ed Moya What a week for bears and volatility! The highly anticipated Fed event delivered volatility that brought down all the major indexes to their knees. The Fed raised rates, reduced their dot plot forecasts, but they signaled that quantitative tightening is on automatic pilot. Stock… read more...

Commodities Recap For The Week Of December 21, 2018

via: SeekingAlpha at 2018-12-21 18:13:40:000

The story of this week: Risk Off- Lots of things to think about over the holidays It was not the week markets had hoped for with the Christmas holiday next Tuesday. On Wednesday, we heard from the U.S. central bank as they increased the Fed Funds rate by 25-basis points to 2.25-2.50%. … read more...

U.S. total rig count, oil rigs both jump in Baker Hughes survey

via: SeekingAlpha at 2018-12-21 13:20:25:000

This week's count of total active drilling rigs in the U.S. jumped by 9 to 1,080, according to the latest survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Comm… read more...

Crude Oil - Is There A Bottom To This Danaides' Barrel Drama?

via: SeekingAlpha at 2018-12-21 13:01:54:000

Image: Oil barrels. Courtesy: Getty Image Thesis The Federal Reserve announced yesterday another 25 points hike to its benchmark rate. This move was against U.S. President Donald Trump's opinion, fearing an adverse reaction by the market in general. He said on Monday "it is incredible" t… read more...

U.S. OKs Iraqi purchases of Iranian natural gas to boost U.S. business deals

via: SeekingAlpha at 2018-12-21 11:34:09:000

The Trump administration extends by at least three months the 45-day waiver it granted Iraq allowing the purchase of natural gas from Iran, after Iraq's government pledged to buy U.S. oil and energy technology. More news on: General Electric, Honeywell International, Inc., Exxon Mobil Co… read more...

Markets Trend Every Which Way But Up

via: SeekingAlpha at 2018-12-21 02:24:47:000

By Stephen Innes It has been another frightening session for investors across a multitude of asset classes with some issues coming to a head, as markets deal with year-end dwindling liquidity. US bond yields are falling, the S&P plummets amid a year-end washout in global equities and… read more...

Saudi Crude Imports To The U.S. Will Be Shocking Especially For PADD 3

via: SeekingAlpha at 2018-12-20 17:55:40:000

Welcome to the " it's time to shock " edition of Oil Markets Daily! We understand. You are probably sick of reading oil market fundamental articles by now. Fundamentals don't seem to matter in this market, but for us, that's the only thing we can try to be decent/good at. We wrote in Novem… read more...

Why The Secular Bear Market In Oil Prices Remains

via: SeekingAlpha at 2018-12-20 17:46:13:000

In 2013, I began warning about the risk to oil prices due to the ongoing imbalances between global supply and demand. Those warnings fell on deaf ears as it was believed that "oil prices could only go higher from here." It didn't take long for those predictions to play out. In May of 2014, … read more...

Oil renews plunge, sending energy sector down 3%

via: SeekingAlpha at 2018-12-20 14:16:15:000

The bounce in crude was pretty short-lived, with WTI down 4.5% on the session to a new roughly 15-month low of $46 per barrel. That's got the Energy SPDR down more than 3% . More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Veloc… read more...

Why Currencies Were Less Oil-Linked In 2018

via: SeekingAlpha at 2018-12-20 07:14:15:000

By Paul Golden At A Glance The Canadian dollar and Russian ruble, traditionally linked to oil prices, were moved by other factors. OPEC's decision to cut oil production beginning in January 2019 might have been expected to boost oil-linked currencies, but other factors are taking the… read more...

Oil resumes decline, sheds last session's gains

via: SeekingAlpha at 2018-12-20 05:39:11:000

Oil prices have resumed declines seen earlier in the week despite OPEC reportedly planning to release a table detailing voluntary supply cut quotas among its members and allies. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X… read more...

All About The Fed And The Discussions Go On

via: SeekingAlpha at 2018-12-20 00:39:50:000

By Stephen Innes Markets The S&P 500 tumbled as the Fed goes whistling past the grave triggering a swath of asset rotation out of equity markets and into US bonds. At the time of writing the S&P 500 fell -1.5 % while US bond yields fell to critical support level 2.75%. But inde… read more...

Bull Oil Thesis: The Market Has Spoken Loud And Clear

via: SeekingAlpha at 2018-12-19 17:33:01:000

Oil futures took a dramatic blow to the mid-section today, down 7%, after a decisive close below the $50 mark on Monday. In all, spot WTI has lost an astounding $31.11 since the peak in early October. It was WTI's lowest close since August 2017. I warned long energy sector investors on Novem… read more...

A Far Simpler, Much More Effective Model

via: SeekingAlpha at 2018-12-19 14:08:01:000

The week is only two days so far, but the oil crash in it has now been taken into elite company. The WTI benchmark is now down about 40% from its high set just a month and a half ago. As noted yesterday , this isn't normal, healthy behavior. Crude isn't exactly fickle, so a crash like this … read more...

Crude inventory declines slightly

via: SeekingAlpha at 2018-12-19 10:31:09:000

EIA Petroleum Inventories : Crude -0.5M barrels vs. -2.4M consensus, -1.2M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Top stock mark… read more...

Bracing For The Fed And The Trade War With Kirk Spano (Podcast)

via: SeekingAlpha at 2018-12-19 06:45:12:000

There are two common investing themes that come to mind when listening to our second Marketplace Roundtable podcast, with Kirk Spano . First, there's the point Spano makes about passive and algorithmic investing. His core four investing for Margin of Safety Investing approach combines the f… read more...

After A Brief Attempt At Consolidation, New Lows In Crude Oil

via: SeekingAlpha at 2018-12-19 06:15:00:000

At the beginning of October, it seemed like it would only be a matter of time before crude oil headed back into triple-digit territory. While NYMEX WTI futures traded to a high at $76.90, the nearby ICE Brent futures moved to a peak at $86.72 per barrel. Both of the oil futures markets reached… read more...

Still Looking For A Silver Lining, Will The Fed Surprise?

via: SeekingAlpha at 2018-12-19 01:27:47:000

By Stephen Innes Markets Risk tried hard to recover overnight but struggled in the absence of any positive headlines to drive market action, while investors continued to fret over China's president Xi on the tape saying that "no one can tell China what to do" and the country will stay … read more...

Surprise build in crude inventories

via: SeekingAlpha at 2018-12-18 16:54:51:000

U.S. oil inventories rose 3.45M barrels last week, according to the API. That's versus trade expectations for a 2.5M barrel draw. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Commodities n… read more...

Oil Bull Thesis Attacked From All Sides As WTI Falls Below $50

via: SeekingAlpha at 2018-12-18 15:57:31:000

Welcome to the attack from all sides edition of the Oil Market Daily! Since our ill-fated oil article titled, " Brent Breaks $80: The Oil Bull Thesis Enters The 7th Inning ," oil bulls went from the White House to the s*** house. The oil bull thesis went from oil demand destruction is th… read more...

Oil prices drop again on supply worries

via: SeekingAlpha at 2018-12-18 14:53:55:000

Oil prices tumbled again as supply and demand forces work against other once again. Traders are looking at the high level of output from the U.S. and Russia even as global growth expectations are reeled in. Also in the mix is a report from earlier today that Saudi Arabia crude oil exports ju… read more...

FOMC Preview: Desperate RHINO's (Again)

via: SeekingAlpha at 2018-12-18 09:15:06:000

The FOMC had voted to taper the final purchasing levels of its third and fourth QE programs at the end of October 2014. Just two days later, the Bank of Japan's policy committee would vote to expand theirs (already with the extra "Q"). The diverging outlooks punctuated a period of high uncerta… read more...

Valero Energy - This Oil Refining Stock Offers Value

via: SeekingAlpha at 2018-12-18 06:00:00:000

With 2018 winding down it is an excellent time to reflect on what went right and what went wrong during the year when it comes to our trading and investing activities. The crude oil market was a tale of two trends in 2018. The energy commodity made higher lows and higher highs starting in Febr… read more...

Crude -4%; drops for third straight session

via: SeekingAlpha at 2018-12-18 04:56:43:000

Oil tumbled another 4% overnight, dropping for a third consecutive session, as reports of swelling inventories and forecasts of record U.S. and Russian output combined with a sharp selloff in global equity markets. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil To… read more...

U.S. crude oil tumbles below $50 to 14-month low

via: SeekingAlpha at 2018-12-17 16:20:18:000

U.S. crude oil prices settle at their lowest since early October 2017 , as global growth fears overshadow efforts to curb production by major producers OPEC and Russia; January WTI -2.6% to $49.88/bbl, Brent -1.3% at $59.48/bbl. More news on: Exxon Mobil Corporation, Chevron Corpora… read more...

Commodities Could Be The Play Of The Decade

via: SeekingAlpha at 2018-12-17 08:56:06:000

The S&P Commodity Index to S&P 500 Ratio has reached an all-time low, indicating that now may be the perfect time to buy commodities. As the chart below indicates, the last time commodities were this cheap in relation to equities occurred in 1999. From the 1999 lows to 2008 highs, th… read more...

Crude Oil Sits Near Its Low

via: SeekingAlpha at 2018-12-17 07:43:00:000

The price of crude oil fell to a low at $49.41 on November 29 and was trading at just over the $51 per barrel level on Friday, December 14. While volatility in the energy commodity declined over recent sessions, the market appears to be going to sleep near the lows. The oil market is a complic… read more...

'Twas The Week Before Xmas And Markets Are Waiting For Bedlam To Break Out

via: SeekingAlpha at 2018-12-17 06:44:32:000

By Stephen Innes 'Twas the week before Xmas and markets are waiting for bedlam to break out. Old Blighty is in Brexit purgatory, while the Fed remains a multistory. President Trump will be accusatory, while China remains conciliatory. US economic data could prove to be transitory, but I'm … read more...

The Mental Gymnastics Required To Be An Oil Bear

via: SeekingAlpha at 2018-12-16 09:30:03:000

Over the past week, three major organizations that cover the oil industry in detail have come out with their assessments of where the industry stands today in terms of supply and demand, and in terms of what the near future looks like: OPEC, the EIA (Energy Information Administration), and the… read more...

Mexico to raise oil output as OPEC cuts

via: SeekingAlpha at 2018-12-16 04:01:21:000

Mexico aims to lift oil and gas production by almost 50% in the next six years and in January will award infrastructure and drilling contracts to develop 20 fields. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude E… read more...

WTI Weekly: Balance Development Continues As Two-Sided Trade Narrows, 50.35s-53.27s

via: SeekingAlpha at 2018-12-15 00:24:56:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 09-14 December 2018: As noted in last weeks WTI Weekly , the primary expectation for this week was for a buy-side bias following a two-week balance developme… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Dec. 14, 2018

via: SeekingAlpha at 2018-12-14 19:03:00:000

Welcome to the latest edition of the Energy Recap. Below are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. On a separate note, there w… read more...

Crude oil settles sharply lower after weak China data, stronger dollar

via: SeekingAlpha at 2018-12-14 15:49:53:000

Oil prices tumbled to wipe out the week's prior gains, weighed by a big drop in equities that followed weaker than expected data on China's economic growth and a stronger dollar; U.S. WTI settled -2.6% to $51.20/bbl, Brent -2.1% to $60.12/bbl. More news on: Exxon Mobil Corporation, … read more...

U.S. total rig count, oil rig count both fall by 4 in Baker Hughes survey

via: SeekingAlpha at 2018-12-14 13:19:31:000

The total count of drilling rigs currently active in the U.S. falls by 4 to 1,071, says Baker Hughes' latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commodities … read more...

OPEC's Production Agreement Spells Glut In 2019

via: SeekingAlpha at 2018-12-14 11:21:22:000

Source: OPEC. At the conclusion of OPECs meeting with non-OPEC producers, OPEC announced that it would cut its production by 800,000 b/d beginning in January for the first six months of 2019. Non-OPEC producers were assigned a cut of 400,000 b/d, with Russia pledging to cut about… read more...

OPEC's Production Cut Likely To Support Near-Term Oil Prices

via: SeekingAlpha at 2018-12-14 03:16:38:000

In the long-term, however, we expect prices to be range-bound By Bixby Stewart, Senior Analyst, Invesco Fixed Income and Fabrice Pellous, Senior Credit Analyst, Invesco Fixed Income in Fixed Income The Organization of the Petroleum Exporting Countries ((OPEC)) has saved th… read more...

Crude Oil: Yearly Cycle Low Most Likely In

via: SeekingAlpha at 2018-12-13 17:52:10:000

We are getting a nice contraction in implied volatility in crude oil which will help our short premium position in crude oil ( USO ). We are short the January $10 puts which have only $0.18 of premium left in it as I write. United States Oil ((USO)) is now up to $11.15 as I write in pre-market… read more...

Crude closes higher as Saudi Arabia said to plan U.S. oil export cut

via: SeekingAlpha at 2018-12-13 16:11:46:000

Crude oil futures settle sharply higher after a late run-up, with WTI ending +2.8% to $52.58/bbl, after a news report said Saudi Arabia plans to cut shipments to U.S. refiners to avoid an expansion of U.S. stockpiles; also, Brent +2.2% to $61.45/bbl. More news on: The United States … read more...

U.S. Oil Production Likely To Grow 2 Mb/D In 2019 But Crude Quality Issue Will Get Worse

via: SeekingAlpha at 2018-12-13 15:27:43:000

Welcome to the crude quality issue edition of Oil Markets Daily! U.S. liquids production registered +3 mb/d in August according to the EIA 914 report, and for oil bulls, U.S. liquids production in 2019 are likely to eclipse +2 mb/d again y-o-y. Source: HFI Research One of the reasons… read more...

Andy Hall is back, and bullish on oil

via: SeekingAlpha at 2018-12-13 14:03:23:000

Longtime oil bull Andy Hall shuttered his hedge fund in the summer of 2017 after major losses in the first half of that year. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Commodities news, Stocks on the move,… read more...

OPEC November Production Data

via: SeekingAlpha at 2018-12-13 07:08:21:000

All the below OPEC data is from the latest OPEC Monthly Oil Market Report. The data is in thousand barrels per day and is through November 2018. OPEC 15 was down 11,000 barrels per day in November but that was after October production was revised upward by 67,000 bpd. OPEC production was… read more...

OPEC's Last Stand, But Refining Is A Seasonal Business

via: SeekingAlpha at 2018-12-13 06:15:00:000

If last week's OPEC meeting told us anything, it was that the cartel that had become a toothless tiger over the past years is now nothing more than a pussycat and an observer when it comes to the path of least resistance for the price of petroleum. On the first trading day of December as the… read more...

IEA: Oil oversupply depends on OPEC deal success

via: SeekingAlpha at 2018-12-13 06:14:17:000

"Time will tell how effective the new [OPEC] production agreement will be in rebalancing the oil market," the IEA said in its closely-watched monthly report More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Ener… read more...

No PM May'hem But Unfortunately No Brexit Catharsis Either

via: SeekingAlpha at 2018-12-13 02:04:12:000

By Stephen Innes US markets It was another volatile day for stocks, but markets remain buffeted by positive signs on U.S.-China trade. But it is far too early to get overly optimistic about a quick end to these tensions. But as per the US administration modus operandi to give a little … read more...

Crude inventory declines in the last week

via: SeekingAlpha at 2018-12-12 10:31:07:000

EIA Petroleum Inventories : Crude -1.2M barrels vs. -3.0M consensus, -7.3M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Top stock mark… read more...

WSJ: Saudi, Kuwait near oilfield pact after U.S. brokers deal

via: SeekingAlpha at 2018-12-12 10:22:37:000

Saudi Arabia and Kuwait are close to restarting operations at oil fields in a disputed territory between the two countries after the U.S. brokered an agreement, which could lead to oil pumping in the area by Q1 2019, WSJ reports. More news on: Chevron Corporation, The United States Oil… read more...

Oil Is In An Utter State Of Confusion

via: SeekingAlpha at 2018-12-12 08:54:01:000

In my last article on 23 rd October, I was bearish on Oil as I expected it to have a descent in its value. This came true as Brent Oil ( BNO ) and WTI Crude ( OIL ) have tumbled by roughly 28% since then. However, I now expect both oil contracts to trade in a box range pattern for the comin… read more...

Crude oil slides 3%, giving up gains on OPEC production deal

via: SeekingAlpha at 2018-12-10 15:58:59:000

Crude oil futures erase the gains they made on Friday following OPEC's decision to cut production: January WTI settled -3.1% to $51/bbl after rising 3.3% last week, and Brent -2.8% ended at $59.97/bbl following last week's 3.7% jump. More news on: The United States Oil ETF, LP, Ener… read more...

What Was Once A Headwind Becomes A Tailwind For The Oil Markets

via: SeekingAlpha at 2018-12-10 15:35:13:000

Welcome to the headwind turning into tailwind edition of Oil Markets Daily! U.S. Saudi crude imports fell to ~730k b/d last week. Why is this significant in any way shape or form? As we have documented in our Saudi export strategy articles ( here and here ), Saudi started to meaningf… read more...

The Latest Issues Facing Crude Oil

via: SeekingAlpha at 2018-12-10 07:15:00:000

On Thursday, December 6 after an official day of mourning for former-President George Herbert Walker Bush and in the midst of a stock market selloff in the United States, the oil ministers of OPEC met at their bi-annual gathering in Vienna, Austria. The ministers discussed petroleum production… read more...

Gold, Silver And The Markets: What's Next For 2019

via: SeekingAlpha at 2018-12-10 04:52:13:000

The big question on the minds of most investors is what will happen to the markets and precious metals in 2019. Well, the answer depends mainly on two factors, the oil price and overall weakness in the economy. If the oil price continues to decline, it will indicate a deflationary outcome for … read more...

Equity Markets: The Bar Is High For A Sustained Bullish Pivot

via: SeekingAlpha at 2018-12-10 03:21:42:000

By Stephen Innes Brexit comes front and centre in the week ahead between the UK Parliament's Meaningful Vote, Tuesday, December 11, and the following EU Summit, December 13-14. Remember that 320 is the crucial threshold to get a deal over the line in Parliament, with the single biggest iss… read more...

WTI Weekly: Balance Development As Key Support, 49.41s, Holds

via: SeekingAlpha at 2018-12-09 13:05:28:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 02-07 December 2018: As noted in last weeks WTI Weekly , the primary expectation for this week was for key support, 49.41s, to hold. Our primary expectation pl… read more...

Lingo That ETF Investors Should Know

via: SeekingAlpha at 2018-12-09 07:44:43:000

In this episode (aired on 12/2/18), host Ron DeLegge talks the big moves in oil, natural gas, and other commodities with John Love, CEO, USCF Investments. Also up: Ron's demystifies lingo that all ETF investors should know. Don't miss the latest performance trends within key industry sectors a… read more...

What OPEC's 'Third Way' Means For Investors

via: SeekingAlpha at 2018-12-09 07:39:56:000

OPEC and key partners opted for a middle path coming out of the 175th meeting of the OPEC Conference, agreeing to cut oil production by 1.2 million barrels per day (bbl/d) from October levels (an even steeper cut than versus November levels). We expect the move to support prices in the low $60… read more...

This Week In Money - December 8, 2018

via: SeekingAlpha at 2018-12-09 05:25:47:000

Ross Clark Stock markets, oil, gold. Marc Faber China, real estate, gold, Dow. Ed Steer Silver and gold. Larry Reaugh President & CEO of American Manganese Inc. Greg Johnston President & CEO of Carl Data Solutons … read more...

Our Take On OPEC's Announced Production Cuts

via: SeekingAlpha at 2018-12-08 02:06:23:000

By Managing Director and Portfolio Manager Rob Thummel The 5th OPEC/Non-OPEC ministerial meeting just ended and a deal has been reached, and as a part of that deal OPEC has announced that it will cut OPEC production by 800,000 barrels per day. And in addition to that, other countries led b… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Dec. 7, 2018

via: SeekingAlpha at 2018-12-07 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

Oil prices settle ~2% higher but off session highs

via: SeekingAlpha at 2018-12-07 16:19:08:000

Crude oil prices settled higher but well off earlier 5% gains, as OPEC's announced 1.2M bbl/day production cut is roughly in line with expectations heading into the group's meeting; WTI +2.2% to $52.61/bbl, Brent +2.7% to $61.67/bbl. More news on: The United States Oil ETF, LP, Energy … read more...

OPEC And Non-OPEC Agree To Cut Production By 1.2 Mb/D - What Does It Mean For The Oil Markets?

via: SeekingAlpha at 2018-12-07 15:26:22:000

Welcome to the new agreement edition of Oil Market Daily! OPEC and non-OPEC producers agreed to cut production by 1.2 mb/d. Here's what the breakdown looks like: Source: HFI Research (Note: Figures for OPEC excludes Qatar from the calculation.) Keep in mind that using the 3 agencie… read more...

U.S. total rig count slips by one, oil rigs drop 10, Baker Hughes says

via: SeekingAlpha at 2018-12-07 13:16:19:000

The total count of drilling rigs currently active in the U.S. edges lower by 1 to 1,075, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy sto… read more...

Friday Market Follies - Will Non-Farm Payrolls Give Us A Flip Or A Flop?

via: SeekingAlpha at 2018-12-07 09:46:40:000

Wheeeee - what a ride! Down 800, up 700; what a fun day in the market. Now we're only down 750 from Monday's open so we can make that up by 11am, right? I certainly hope you have your hedges on as we literally could go 750 points either way off the Non-Farm Payroll Report at 8:30 this morn… read more...

U.S. crude oil +5% as OPEC reportedly reaches production cut deal

via: SeekingAlpha at 2018-12-07 09:14:35:000

Crude oil futures are now surging on reports that OPEC has struck a deal to cut production: WTI +4.9% to $54.03/bbl, Brent +5.2% to $63.19/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy stocks… read more...

Iran reportedly agrees to OPEC deal, sending crude oil prices higher

via: SeekingAlpha at 2018-12-07 08:17:11:000

Crude oil futures move higher on reports that Iran has finally agreed to an OPEC deal in principle: WTI +1.6% to $52.31/bbl, Brent +2.1% to $61.34/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Ene… read more...

OPEC holds another day of crunch talks

via: SeekingAlpha at 2018-12-07 06:07:08:000

OPEC has kicked off another day of talks on oil-production curbs after a summit on Thursday ended with no deal, as Russia resisted the 1M bpd cut that Saudi Arabia was demanding. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X … read more...

U.S. now a net oil exporter for first time on record

via: SeekingAlpha at 2018-12-06 18:40:00:000

The U.S. became a net exporter of oil last week for the first time on record , the result of a fracking boom which has sparked massive increases in drilling and slashed reliance on foreign energy sources. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&… read more...

Crude inventory falls sharply

via: SeekingAlpha at 2018-12-06 11:01:02:000

EIA Petroleum Inventories : Crude -7.3M barrels vs. -0.9M consensus, +3.6M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Top stock mark… read more...

Oil Prices Are Unlikely To Head Higher

via: SeekingAlpha at 2018-12-06 10:54:42:000

The memory of protests in KSA, slashed salaries, disgruntled government officials and incensed public, are still fresh in ones memory. The recent fall of oil prices, once again into bearish territory, has given a prompt reminder to the Kingdom that their job is not finished. Recently, … read more...

OPEC's Shifting Leadership Dynamics

via: SeekingAlpha at 2018-12-06 10:36:38:000

One could only marvel at the impeccable timing of the release of the ongoing study by the Riyadh-based and funded think-tank Kapsarc that is conducting a necessary game theory research in assessing the future of global oil impacts should OPEC dissolve. The overview of Kapsarcs particul… read more...

OPEC members say production cut coming, specifics TBD; U.S. crude oil -4%

via: SeekingAlpha at 2018-12-06 10:35:52:000

Crude oil prices remain sharply lower in volatile trading after OPEC members say they agreed to production cuts but must await Russia before making a final decision on the exact amount and the allocation: WTI -3.9% at $50.79/bbl, Brent -3.2% at $59.56/bbl. More news on: Exxon Mobil C… read more...

What The Market Reaction To The G-20 Taught Us About 2019 Expectations

via: SeekingAlpha at 2018-12-06 10:16:54:000

By Blu Putnam At A Glance After G-20, it's clear the big three, not OPEC, dominate the global oil picture. The recent G-20 meeting was full of interesting developments and the market reactions were equally fascinating. First, the U.S.-China Trade War ceasefire ignited a relie… read more...

Saudis: No OPEC deal 'real risk'; Oil -5%

via: SeekingAlpha at 2018-12-06 05:58:14:000

Risk of a no OPEC deal? "It's real," Saudi Energy Minister Khalid al-Falih told CNBC, as OPEC delegates and Russia gathered for a meeting in Vienna. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Top Breaking… read more...

OPEC waits on Russia for output cut levels

via: SeekingAlpha at 2018-12-06 04:58:45:000

OPEC has made a planned cut in oil output effectively conditional on the contribution from non-OPEC producer Russia, OPEC delegates said as the group gathered for a meeting in Vienna. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocitySha… read more...

Numerous Crosscurrents Are Coming To A Head: OPEC

via: SeekingAlpha at 2018-12-06 04:29:24:000

By Stephen Innes Markets With US markets reopening Thursday, attention will fall first on delayed USD data releases, including ADP and ISM services. My view is the USD will be incredibly sensitive to all levels of economic data due to the Fed's definite shift to data dependency. After … read more...

Oil prices slip ahead of expected OPEC production cut

via: SeekingAlpha at 2018-12-05 16:42:37:000

Crude oil prices settle slightly lower as the market awaited clarify on a potential but far-from-assured output cut agreement from major oil producers ahead of OPEC's meeting in Vienna this week; WTI -0.7% at $52.89/bbl, Brent -0.8% at $61.56/bbl. More news on: The United States Oil ET… read more...

U.S. 'well on its way' to 'energy dominance,' Marathon Petroleum CEO says

via: SeekingAlpha at 2018-12-05 12:57:01:000

Pres. Trump's goal of making the U.S. a global energy superpower is "well on its way" to becoming a reality, Marathon Petroleum (NYSE: MPC ) Chairman and CEO Gary Heminger tells CNBC. More news on: Marathon Petroleum Corp., The United States Oil ETF, LP, iPath S&P Crude Oil Total Ret… read more...

Qatar's Exit From OPEC: Not A Bear's Dream Come True

via: SeekingAlpha at 2018-12-05 12:43:49:000

Anybody who has been watching the oil markets in recent months can attest to the fact that investors have had to deal with a tremendous amount of volatility, driven by a mix of fears centered around soaring US output, weaker global demand growth, and whether or not OPEC and some of its non-OPE… read more...

CVI's Oil & Gas E&P Index: Uneven Pain In November

via: SeekingAlpha at 2018-12-05 06:36:36:000

After a painful October, investors in the oil and gas E&P space might have been hoping for a turnaround in November, or at least a flatlining. Unfortunately, those who were hoping as much, myself included, were greeted with more pain. As crude energy prices tanked, and even in spite of nat… read more...

Powell's Hawk Loses Its Lift Even Before Oil

via: SeekingAlpha at 2018-12-05 06:09:29:000

Is the media data-dependent? Depends, of course, on what you mean by "dependent." One year ago, as December 2017 dawned, you couldn't go a day even a few hours without some mainstream outlet publishing an ode to the LABOR SHORTAGE!!! A full part of the hysteria of the time, the idea of globall… read more...

Opportunities As Oil Nears Bottom

via: SeekingAlpha at 2018-12-05 04:03:15:000

Key points Oil prices could be close to a trough, and we see selected opportunities emerging ahead of a recovery. The U.S. and China put further tariffs on hold for 90 days. We see this boosting risk assets in the short run. Economists expect strong U.S. non-farm payrolls growth in Nov… read more...

Our Thoughts Going Into This Week's OPEC Meeting

via: SeekingAlpha at 2018-12-05 02:29:16:000

By Managing Director and Portfolio Manager Rob Thummel Happy Holidays! Its time to breakout the classic holiday movies. In the cant miss movie during the holiday season, after Uncle Lewis burns the Christmas tree and receiving a jelly-of-the month club for an annual bonus, … read more...

2018 Commodity Performance

via: SeekingAlpha at 2018-12-05 02:26:59:000

Below is a look at the 2018 YTD performance of major commodities. As shown, natural gas is up 47.2%, which is by far the biggest gainer of the bunch. Wheat and orange juice are the only other two commodities in the green on the year with gains of 5%+. While corn and gold are down single-d… read more...

Oil: Alberta Did The Right Thing

via: SeekingAlpha at 2018-12-05 01:36:14:000

Rachel Notley did the right thing. With Western Canadian Select (WCS) Oil prices stuck in a new normal, and distress spreading across all grades of crude oil, she mandated production cuts from January 1, 2019 for the province's producers . The proposed cuts would take effect beginning i… read more...

There Are Serious Risks To Oil Supplies Disappointing In 2019

via: SeekingAlpha at 2018-12-04 17:25:54:000

Welcome to the ignore at your own peril edition of Oil Markets Daily! The oil sell-off in the last 8-weeks wasn't just symbolic from the speed of the sell-off and the magnitude, but that it will be the first time the global oil markets face a supply outlook dominated by short-cycle barre… read more...

U.S. crude supply rose 5.36M barrels last week in 11th straight build, API says

via: SeekingAlpha at 2018-12-04 16:50:12:000

American Petroleum Institute reportedly shows a build of 5.36M barrels of oil for the week ending Nov. 30, vs. a build of 3.45M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Ene… read more...

Energy Market Ripe For Reversal

via: SeekingAlpha at 2018-12-04 16:44:44:000

The Week in Review The oil market ( OIL ) took pity on embattled bulls this week, temporarily trading in the red on Thursday before bouncing to close the week for a 1.01% gain. The positive result may be small but the sense of relief is likely to be far more out-sized as until the Friday c… read more...

Oil flat, but energy shares lower as averages tumble

via: SeekingAlpha at 2018-12-04 15:34:49:000

The major selloff in stocks (S&P 500 down 3% ) isn't hitting crude oil, which is unchanged at $52.96 per barrel. The Energy SPDR (NYSEARCA: XLE ) is outperforming the S&P by a hair, down 2.4% . More news on: Energy Select Sector SPDR ETF, Devon Energy Corporation, The U… read more...

As The OPEC Meeting Approaches A Familiar Voice Says The Energy Commodity Is Near A Bottom

via: SeekingAlpha at 2018-12-04 11:01:38:000

The price of crude oil has dropped like a stone since early October. The nearby NYMEX crude oil futures contract hit a high at $76.90 per barrel on October 3 and reached its most recent low at $49.41 on November 29, a decline of 35.7%. Active month January crude oil futures closed the eleventh… read more...

Crude oil extends gains on expectations of production cuts

via: SeekingAlpha at 2018-12-04 08:06:10:000

OPEC is striving for a deal to cut production by at least 1.3M bbl/day, but the group is still talking to Russia about the extent of the reduction, according to reports. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index E… read more...

U.S. crude finishes +4% on trade truce, anticipated supply cuts

via: SeekingAlpha at 2018-12-03 15:48:30:000

OPEC meets on Thursday to decide production levels, and the group plus Russia is expected to announce cuts aimed at reining in a glut that has pulled down crude prices by around a third since October. More news on: Exxon Mobil Corporation, Chevron Corporation, Royal Dutch Shell plc, Energy… read more...

G20 Fan Animal Spirits

via: SeekingAlpha at 2018-12-03 09:17:28:000

Overview The US and China kept their trade guns cocked at each other but offered the last opportunity for a negotiated settlement before escalation. What is billed as a 90-day freeze on tariff increases is really only 60 days beyond January 1 when Trump had threatened to increase the 10% t… read more...

Truce - All Is Good, Oil Rallies 5%, Dollar Down And Yields Higher

via: SeekingAlpha at 2018-12-03 08:26:29:000

Monday December 3: Five things the markets are talking about Global equities have rallied overnight, alongside U.S Treasury yields, while the 'big' dollar trades under pressure after the U.S and China declared a temporary truce in their Sino-U.S trade war. No progress was made on key dif… read more...

NYMEX Crude Oil Flirts With $50 Per Barrel - Is The Carnage Over?

via: SeekingAlpha at 2018-12-03 06:30:00:000

On a long-term basis, crude oil has a history of taking the stairs higher and the elevator shaft to the downside. The energy commodity hit a high at $76.90 per barrel on October 3, and since then it has been all downhill for the oil futures that trade on the New York Mercantile Exchange divisi… read more...

Canada latest to join oil cut drive

via: SeekingAlpha at 2018-12-03 05:02:28:000

Canada's largest oil producing province has ordered an unprecedented output cut, adding to global actions to combat a recent price crash. More news on: Canadian Natural Resources, Ltd., Cenovus Energy, Inc., Suncor Energy Inc., Top stock market news, Energy stocks news, News on ETFs, R… read more...

Xi-Trump 'Dinner Date Of The Decade' Ended With A 'Handshakeplus'

via: SeekingAlpha at 2018-12-03 02:51:31:000

By Stephen Innes The markets were preparing for a day of binary market reaction upheaval as a trade war, geopolitical powder keg, and even oil markets' hedges could have been forced to unravel. So, with the immense weight of the global supply chain dynamic network on their shoulder, a ta… read more...

Oil Speculators Reduce Net Long Exposure For 10th Straight Week

via: SeekingAlpha at 2018-12-03 02:17:12:000

According to the latest Commitment of Traders ((COT)) report, large speculators continue to expect weaker oil prices, reducing net long positions for the 10th straight week. While overall positioning has been consistently falling for months, the only silver lining in the latest CFTC report i… read more...

Qatar to withdraw from OPEC, cites LNG focus

via: SeekingAlpha at 2018-12-03 01:55:55:000

Just days before a crucial meeting between OPEC and its allies, Qatar announced plans to pull out of the oil cartel in January 2019. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, News on ETFs, Commoditi… read more...

U.S. crude +4% on U.S.-China trade truce, Russia-Saudi to renew OPEC pact

via: SeekingAlpha at 2018-12-02 21:11:38:000

Crude oil prices rocket higher after the U.S. and China announced the truce in their trade conflict and Russian Pres. Putin says the country and Saudi Arabia agree to extend OPECs efforts to stabilize oil markets; WTI crude +4% to $53/bbl, Brent +3.6% to $61.63/bbl. More news… read more...

Oil Prices And The Economy In 2019

via: SeekingAlpha at 2018-12-02 13:46:28:000

Many readers could tell, I am sure, of the surprise I expressed in discussing, on Friday, the recent decline in yields on US Treasury securities. Most of this year I, along with others, had been expecting Treasury yields to increase. We believed that with the yield on the 10-year Treasury … read more...

This Week In Money - December 1, 2018

via: SeekingAlpha at 2018-12-02 02:56:01:000

Ross Clark Crude oils decline, interest rates, gold. Rick Ackerman China/US Trade, G20, interest rates and the car business. James Corbett Japan, China, steel quality. Larry Reaugh President & CEO of American Manganese Inc… read more...

Did Markets Overreact To Jerome Powell's Comments On Interest Rates?

via: SeekingAlpha at 2018-12-01 06:08:36:000

On the latest edition of Market Week in Review, Senior Investment Strategist Paul Eitelman and Research Analyst Brian Yadao discussed U.S. Federal Reserve (the Fed) Chair Jerome Powell's recent remarks on interest rates, the current slide in oil prices and potential market impacts of the … read more...

WTI Weekly: Balance Development Through Mid-Week Before False Sell-Side Breakdown Developed To 49.41s

via: SeekingAlpha at 2018-12-01 04:06:39:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 25-30 November 2018: As noted in last weeks WTI Weekly , the primary expectation for this week was for a buy response near the key support area, $50/bbl. Our p… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Nov. 30, 2018

via: SeekingAlpha at 2018-11-30 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

U.S. total rig count adds another 3 in Baker Hughes survey

via: SeekingAlpha at 2018-11-30 13:24:28:000

The total count of drilling rigs currently active in the U.S. drops by 3 to 1,079, identical to last week's decline, according to the latest survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return … read more...

Oil trims losses as OPEC advisory committee recommends production cut

via: SeekingAlpha at 2018-11-30 12:58:52:000

OPEC's main advisory group recommends cutting production by 1.3M bbl/day from October 2018 levels to bring supply and demand into balance next year, lifting crude oil prices from sharp earlier lows; U.S. WTI -0.6% at $51.15/bbl, Brent -1.3% at $58.74/bbl. More news on: The United Sta… read more...

Crude prices slide on doubts about Russia's commitment to cut production

via: SeekingAlpha at 2018-11-30 11:11:33:000

U.S. crude oil dips below $50/bbl following fresh doubts about Russia's commitment to cut crude production; WTI futures -2.3% to $50.25/bbl after earlier falling to as low as $49.65, while Brent -1.7% to $58.51/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SP… read more...

Clarifying The Linkages Between Oil Price, Production, And Oil Inventories (Not As Clear-Cut As You May Think It Is)

via: SeekingAlpha at 2018-11-30 08:17:24:000

(This article is a condensation of the Market Reports At The Chat which Predictive Analytic Models ((PAM)) published on November 28, 2018, and has been augmented by narratives and charts from the November 26 and 27 Market Reports and by various illustrative charts uploaded to the PAM chat… read more...

U.S. Shale Production Set To Surge In 2019

via: SeekingAlpha at 2018-11-30 06:11:09:000

Surging oil production is one of two great fears, the other being weaker demand growth, permeating through the oil markets. It's the mix of these two fears that has been responsible for WTI crude plummeting over the past several weeks and taking energy companies' shares with it. To see what pr… read more...

Twice Shy: Goldman's Bullish Cheerleading Of Spring Sees Quite The Autumn Fall

via: SeekingAlpha at 2018-11-30 04:09:23:000

In this article, we will examine the current state of WTI price, the current bullish consensus, and leveraged capital positioning within this context. April 2018: Goldman Makes Case For $80 Brent Crude By End Of 2018 This Business Insider article from April 21, 2018, discusses Saudi targ… read more...

Lingering Uncertainties

via: SeekingAlpha at 2018-11-30 00:02:06:000

By Stephen Innes The FOMC There wasn't much reaction to the FOMC minutes but one thing that is apparent the Fed's dovish adjustments are a bit more than the market expected. But the main takeaway is that quarterly hikes are not the new normal which means the markets, and the USD will be … read more...

Market Volatility Bulletin: Stocks Work To Hold Wednesday's Outsized Gains

via: SeekingAlpha at 2018-11-29 23:57:00:000

Market Intro Source: CNBC - 1:06 PM EST US stocks ( SPY , DIA , QQQ , IWM ) are on a rebound after a reasonably rough open on Thursday. Spot VIX has spent the day more or less in a one vol-point range. Source: SectorSPDR The sector breakdown for today is constructive to my… read more...

Saudi's Oil Policy Will Have Less To Do With What Trump Wants Going Forward

via: SeekingAlpha at 2018-11-29 16:23:19:000

Welcome to the separation edition of Oil Markets Daily! There are serious doubts about the oil market today that the global "oversupply" next year will be brutal for oil prices. With spare capacity basically nonexistent and Iranian production not falling off a cliff yet, market participa… read more...

Oil traders to make deals on live blockchain for first time as platform goes live

via: SeekingAlpha at 2018-11-29 11:54:34:000

Oil traders can start finalizing crude oil deals on a live blockchain-based platform for the first time, Reuters reports, after London-based platform Vakt went live yesterday, although no actual trades took place. More news on: BP p.l.c., Royal Dutch Shell plc, Royal Dutch Shell plc, Ene… read more...

Oil Valuation

via: SeekingAlpha at 2018-11-29 11:47:57:000

The fundamental price of oil, like the fundamental price of any other commodity, is a reflection of the balance between supply and demand in the market. It is just the price that is the average to which the futures market has to return from time to time in order to find itself in a balanced st… read more...

'Being A Contrarian Is Being An Idiot' If You're Long Oil (Video)

via: SeekingAlpha at 2018-11-29 10:54:55:000

Oil has crashed 35% since the beginning of October. That said, its nowhere near time to become a contrarian and start buying it, explains Hedgeye CEO Keith Read more … read more...

Russia on board with oil production cuts - Reuters

via: SeekingAlpha at 2018-11-29 07:46:06:000

According to the story, Russia and Saudi Arabia are in talks over cutting crude production. While details like the timing and size need to be ironed out, Russia has accepted the need for cuts. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Velo… read more...

Oil below $50 for first time in a year

via: SeekingAlpha at 2018-11-29 05:41:01:000

Crude prices have dropped below $50 a barrel for the first time since October 2017, amid data from the EIA showing U.S. crude stockpiles increasing for the tenth consecutive week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares … read more...

Crude oil -2.5% to YTD low on 10th straight week of rising U.S. stockpiles

via: SeekingAlpha at 2018-11-28 15:41:28:000

Crude oil's brief bump following Fed Chair Powell's dovish interest rate remarks failed to hold up, as January WTI crude closed -2.5% to $50.29/bbl, the lowest settlement in nearly 14 months ; Brent -2.4% to $58.76/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector… read more...

Oil inventories top estimates

via: SeekingAlpha at 2018-11-28 10:31:32:000

Gasoline -0.8M barrels vs. +0.6M consensus, -1.3M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Top stock market news, Energy stocks… read more...

U.S. crude supply rose 3.45M barrels last week, API says

via: SeekingAlpha at 2018-11-27 17:10:19:000

The American Petroleum Institute reportedly shows a build of 3.45M barrels of oil for the week ending Nov. 23, vs. a draw of 1.55M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, … read more...

Crude Has Dropped 25%, Is It In A Downtrend?

via: SeekingAlpha at 2018-11-27 07:27:08:000

It's been no secret that Alternative investments haven't provided on their promise of diversification during the recent sell off-in equity markets (even if that promise is based on providing non-correlation, not negative correlation at each downturn). The excuses are mostly valid - in that t… read more...

Oil Has Hit $60 Per Barrel - How Much More Can It Drop?

via: SeekingAlpha at 2018-11-27 07:02:23:000

Original Post By Stuart Burns Brent crude has hit a new low for 2018, with the international benchmark down 3% last week to its lowest level in 13 months. West Texas Intermediate, the main U.S. contract, fell 4.5% to $52.09. Investors have taken fright in a relatively short space of … read more...

The Fallacy Of The Positive Impact From Falling Oil Prices

via: SeekingAlpha at 2018-11-26 19:45:51:000

"If you repeat a falsehood long enough, it will eventually be accepted as fact." In the financial markets, and economics, it is a common occurrence for the media and commentators to latch onto a statement which supports a cognitive bias. They then repeat that statement until it is a universa… read more...

Oil Sell-Off Has More To Do With Technical Factors Than Fundamentals

via: SeekingAlpha at 2018-11-26 17:32:37:000

Welcome to the technical edition of Oil Markets Daily! The recent oil sell-off has more to do with technical factors than fundamental factors. In a recent report by Goldman Sachs titled, " A negative gamma effect sets oil up to snap back " and in an update we posted on Nov 14th titled,… read more...

Weekly Energy Recap: Pipeline Blocks Mean Rail Only Option For Canadian Oil

via: SeekingAlpha at 2018-11-26 14:29:50:000

Crude oil prices continued their downward fall last week, reaching their lowest level in more than a year, almost 30 percent lower than in last October. Brent crude ended the week at $58.80 per barrel and WTI fell to $50.42. The steep slide started in early November from oversupply concerns … read more...

Oil surges following last week's steep selloff that many felt was overdone

via: SeekingAlpha at 2018-11-26 12:30:28:000

Todays surge in crude oil prices is " probably a reaction to Fridays selloff " which investors may see as "too exaggerated," but the oil market remains little changed from a "fundamental perspective," says UBS Wealth Management analyst Giovanni Staunovo. More news on: Exxon… read more...

The Tri-Polar Oil Order

via: SeekingAlpha at 2018-11-26 10:31:06:000

The recent developments in oil markets deserve more inspection than letting it pass by as a part of another oil price fluctuation. In fact, the changes since 2014 merit a scrupulous scrutiny. There have been two main outcomes: U.S. Shale boom and the Russian-Saudi camaraderie. While there are … read more...

Oil's in a bear market, but where are the bears?

via: SeekingAlpha at 2018-11-26 08:57:44:000

Long oil goes alongside long gold and long industrialized metals as Goldman's top 2019 trade ideas. The upcoming G-20 meeting (this week) might prove a catalyst, say Jeff Currie and team, as an OPEC production could will be on the agenda (an OPEC meeting follows the G-20 meeting). More new… read more...

More Selling In Crude - Put This Refining Company On Your Investment Radar

via: SeekingAlpha at 2018-11-26 07:30:00:000

The path of least resistance of the price of crude oil is a combination of so many factors that my old boss Andy Hall compared it to a multivariable equation. The calculus of crude oil includes supply and demand data, the weather, macroeconomic factors, and the geopolitical landscape in produc… read more...

Oil Update - November 2018

via: SeekingAlpha at 2018-11-26 05:52:29:000

Last month, I forecast that West Texas Intermediate would range between $65.00 and $75.00 for November. Nearing month end with WTI at about $50.00, I was wrong. Some of the factors that led to the sharp oil price decline are as follows: unexpected waivers granted for purchase of Iranian crud… read more...

Buckling In For A Bumpy Week

via: SeekingAlpha at 2018-11-26 02:34:22:000

By Stephen Innes A crude warning Black Friday turned into a fire sale for oil prices, while EU manufacturing continues to flounder with export-orientated figures declining to a 30-month low, compounding the weak run of EU economic data. But it was the enormous drop in oil prices that t… read more...

Weighing The Week Ahead: Do Plummeting Oil Prices Signal A Weak Economy?

via: SeekingAlpha at 2018-11-25 11:06:29:000

We have a big economic calendar. Some participants will be slow in recovering from their time off. Some may even stay up late for a football game on Sunday night. (Mrs. OldProf will be there until the finish, regardless of the score.) There will be plenty of economic data, but it might not mat… read more...

Oil Sends A 'Crude Warning'

via: SeekingAlpha at 2018-11-25 06:44:28:000

As with many Americans, I am on the road with the family making the traditional holiday rounds. Of course, my family is more "The Griswolds" than "The Waltons, but even with all of the antics, comedy, and occasional drama, it is always an enjoyable time of the year. However, I did wake u… read more...

This Week In Money - November 24, 2018

via: SeekingAlpha at 2018-11-25 01:48:23:000

Ross Clark Oil, Gold, Stocks, and Junk Bonds Wolf Richter Stock Market, Real Estate and Interest Rates. Peter Ingram Tax Planning, Cross Border Tax. Larry Reaugh - President & CEO of American Manganese Inc. Jim Pettit - Pre… read more...

Dollar Higher As Trade War Concerns Fuel Risk Aversion

via: SeekingAlpha at 2018-11-24 08:33:58:000

The dollar is higher on Friday against most major pairs. The greenback gained the most against the EUR as disappointing PMI surveys and the uncertain future of the Brexit deal ahead of the weekend took its toll on the single currency. Oil prices tumbled as fears of oversupply put losses at mor… read more...

I Think We've Passed Peak Oil Prices

via: SeekingAlpha at 2018-11-24 05:24:53:000

I say that we have passed peak oil as a tongue in cheek reference to a post I made in early August called, " Are We Near Peak Oil Prices? ." In that post, I made the argument that we were close to the peak in oil prices based on slowing global demand and a divergence between oil and nearly eve… read more...

Rude Crude

via: SeekingAlpha at 2018-11-24 03:15:55:000

While US equities are set to trade lower on this holiday-shortened day after Thanksgiving, the big story is the sharp drop in crude oil prices. Crude is trading down over 5% this morning to another 52-week low near $50 per barrel. Looking at the chart, it's amazing to see how sharp and fast th… read more...

WTI Weekly: Sellside Continuation To 50.15s Near Major Structural Support

via: SeekingAlpha at 2018-11-23 23:11:48:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 18-23 November 2018: As noted in last week's WTI Weekly , the primary expectation for this week was for a buy response at last week's key balance cluster, 55.80s-57.48… read more...

WSJ: Saudis consider stealth cut to OPEC production

via: SeekingAlpha at 2018-11-23 13:10:24:000

Saudi Arabia and OPEC are nearing a production cut that doesn't look like a production cut , a compromise that would allow it to please the U.S. without overt cuts to targets, The Wall Street Journal reports. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Ret… read more...

Friday

via: SeekingAlpha at 2018-11-23 06:48:56:000

Overview The US dollar is firmer against most of the major currencies. The Japanese and Indian markets were closed for holidays, and a weaker-than-expected flash EMU PMI helped keep the euro pinned near this week's lows. Although the EU seemed to thrown the UK's embattled May a lifeline with… read more...

Asia Grows As A Crude Oil Price Maker

via: SeekingAlpha at 2018-11-23 05:11:06:000

By Nicolas Dupuis At a Glance About 200 million barrels equivalent of WTI crude oil futures are now being traded daily during Asian hours. Soaring crude oil demand from Asia, coupled with recent price volatility has led to an increased need to hedge the commodity. This increased de… read more...

Crude hits 2018 lows at $53 per barrel

via: SeekingAlpha at 2018-11-23 02:47:05:000

Oil prices tumbled to 2018 lows on Friday, falling 2.5% to $53.29/bbl, building expectations that OPEC will start withholding supply after a meeting planned for Dec. 6. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Cru… read more...

As Oil Prices Plunge, What Will Swing Producers Do?

via: SeekingAlpha at 2018-11-22 04:48:20:000

By Erik Norland Oil options markets have rarely been more skewed to the bearish side. After a 30% plunge in spot prices, WTI put options have reached historical extremes with respect to call options prices, seen only a few times during the past decade (Figure 1). Is such bearishness warran… read more...

Pre-Holiday Scramble

via: SeekingAlpha at 2018-11-22 02:59:55:000

By Stephen Innes Oil Markets WTI rebounded towards $56.00 before markets chilled back toward $54.40 after traders were left mulling US inventory data, which continued to show significant supply builds and comes on the back of sustained record US crude oil production. And for record-kee… read more...

The Dollar-Squawk Box

via: SeekingAlpha at 2018-11-22 00:37:09:000

I was part of the "Trading Block" on CNBC earlier today. The sharp fall in stocks and oil would have led many, like Joe, to anticipate dollar weakness. Instead, the dollar rallied. Perhaps, I suggested, the dollar was acting like a safe haven. Bill yields are high enough to make cash a reasona… read more...

A Semblance Of Stability Returns

via: SeekingAlpha at 2018-11-21 22:31:19:000

Overview Yesterday's frenzy has burnt itself out for the moment. Equities began recovering in Asia after early losses. China, including Hong Kong, Singapore, and Thailand, closed higher and European markets are recouping some of yesterday's decline. The Dow Jones Stoxx is trying to snap a … read more...

How Oil Sector Bulls Could Survive The Coming Oil Price Crash

via: SeekingAlpha at 2018-11-21 15:21:13:000

Long-term energy sector investors have suffered through a difficult period lately. Investors have been told all year that the oil risks were primarily to the upside by market pundits and that $100 was virtually inevitable. But they ignored the reality that President Trump did not want that… read more...

U.S. total rig count falls 3 in Baker Hughes survey

via: SeekingAlpha at 2018-11-21 14:26:21:000

The total count of drilling rigs currently active in the U.S. falls by 3 to 1,079, says Baker Hughes' latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commodities … read more...

Oil inventories top estimates

via: SeekingAlpha at 2018-11-21 10:31:05:000

Gasoline -1.3M barrels vs. -0.2M consensus, -1.4M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Top stock market news, Energy stocks… read more...

Crude oil rebounds following surprise U.S. stockpile draw

via: SeekingAlpha at 2018-11-21 08:51:21:000

WTIDecember crude oil +2.4% to $54.71/bbl, recouping part of yesterday's 7% plunge, following API data showing an unexpected decline in U.S. crude inventories after eight straight weeks of increases; Brent +2.1% at $63.85/bbl. More news on: The United States Oil ETF, LP, Energy… read more...

A Crude Session For Oil

via: SeekingAlpha at 2018-11-21 06:31:13:000

By Stephen Innes Oil markets Whatever the semblance of support was at $55 WTI, was sliced through like a hot knife through butter as a brutal combination of events continue to weigh on prices. At the heart of the matter is the lack of market respect for OPEC rhetoric regarding deep pro… read more...

Crude Oil Declines Start To Get Real

via: SeekingAlpha at 2018-11-21 05:54:52:000

After trying to stabilize in the last few days, crude oil prices took another leg lower today, falling more than 5% and below $55 per barrel. Relative to its 52-week high on October 3rd (less than two months ago), crude oil prices are now down over 30%. While there have been drawdowns of this … read more...

Making Sense Of The Mysterious Strategic Petroleum Reserve

via: SeekingAlpha at 2018-11-21 05:38:46:000

By Bob Iaccino At A Glance Historically, the reserve is used in emergency cases, but could it be tapped to push down oil prices? On August 20, The U.S. Department of Energy's Office of Fossil Energy ((FE)) announced a "Notice of Sale" for crude oil from the Strategic Petroleum Reserv… read more...

U.S. crude supply fell 1.5M barrels, API says, snapping eight weeks of gains

via: SeekingAlpha at 2018-11-20 16:49:36:000

The American Petroleum Institute reportedly shows a draw of 1.55M barrels of oil for the week ending Nov. 16, vs. a build of 8.79M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, En… read more...

Trump says U.S. continues to back Saudi Arabia

via: SeekingAlpha at 2018-11-20 13:12:17:000

Pres. Trump says the U.S. will continue to stand with Saudi Arabia despite the murder of journalist Jamal Khashoggi, apparently ruling out new punitive measures against the country after already sanctioning 17 individuals known to have been connected to the killing. More news on: The Uni… read more...

Energy sector sinks as U.S. crude oil falls to new one-year low

via: SeekingAlpha at 2018-11-20 12:24:54:000

The S&P energy sector ( XLE -2.6% ) supplants tech as the stock market's worst performer, as U.S. crude oil futures sink to fresh one-year lows , falling alongside stocks as investors dump risk assets; WTI -5% at $54.35/bbl, Brent -5.1% at $63.38/bbl. More news on: Energy Select… read more...

Pre-Thanksgiving Is Traditionally A Great Time To Buy Stocks

via: SeekingAlpha at 2018-11-20 09:30:33:000

Yesterday, November 19, NASDAQ successfully tested its October 29 lows, so it looks to me like the selling pressure is finally being exhausted. Traditionally the best day to buy is the Tuesday before Thanksgiving, when an early January Effect typically commences. If Treasury yi… read more...

The Global Supply Outlook And How It Influences Costs And The Challenges Facing The Industry

via: SeekingAlpha at 2018-11-20 06:43:54:000

Global Supply Outlook What a difference a year makes; since the India Energy Forum by CERAWeek in 2017, we have seen a 50% increase in oil price, and that's good news. The Upstream sector is doing great things in its ability to grow in key areas, to maintain its cost levels, and to innovat… read more...

Oil edges higher as EU said to back French sanctions on Iran

via: SeekingAlpha at 2018-11-19 16:19:10:000

Crude oil futures closed higher in choppy trading, finding support from news that the European Union backs a decision by the French government to sanction Iranian nationals linked to a bomb plot in France: January WTI +0.9% at $57.20/bbl, Brent +0.1% at $66.79/bbl. More news on:… read more...

Weekly Energy Recap: Oil Markets Jittery Over Lower Demand Forecasts

via: SeekingAlpha at 2018-11-19 14:55:00:000

Oil prices continued to nosedive last week over demand concerns amid an outlook of a slowing global economy. The strong US dollar weighed on both oil prices and the global demand outlook. Currencies weakened against the dollar, eroding their purchasing power. Brent was down to $66.76 per bar… read more...

Oil prices slide as Russia says wait and see on production cuts

via: SeekingAlpha at 2018-11-19 10:58:24:000

Russia's wavering indicates tricky negotiations ahead next month in Vienna when OPEC and allied producers will discuss trimming production to prop up prices, which have plunged ~$20/bbl since early October. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S… read more...

Oil And Gas Take Center Stage

via: SeekingAlpha at 2018-11-19 10:55:37:000

If pipeline stocks moved with natural gas rather than crude oil, their long-suffering investors could look back on a good week. On Tuesday, crude was down $5 per barrel for the week, before recovering $2 by Friday. It's tumbled $20 since early October, bringing Brent Jan, '19 to $66. By contra… read more...

Oil Export Resumption From Iraq's Kirkuk Field Comes At The Worst Possible Time

via: SeekingAlpha at 2018-11-19 10:04:00:000

The Iraqi Oil Ministry in Baghdad today announced that a preliminary agreement had been reached with the KRG. This preliminary agreement will ensure that 50-100 Thousand Barrels Per Day (KBD) will move from the Kirkuk oil fields to the Turkish port of Ceyhan. Iraqi production as of October was… read more...

Distillate Cracks And Term Structure In Crude Oil Could Be Signs Of A Bottom

via: SeekingAlpha at 2018-11-19 06:39:00:000

There was an overabundance of bulls in the oil market in early October when the price of nearby NYMEX futures rose to $76.90 per barrel which as the highest price since 2014. Many market participants and oil market pundits believe that it was just a matter of time before there would be an $80 … read more...

This May Be The Last Opportunity To Buy Oil Below $60

via: SeekingAlpha at 2018-11-19 05:53:26:000

It was back in November 2009 when Marc Faber of the Gloom, Boom & Doom Report made the call that gold would never go below $1,000 an ounce ever again. So far, he has been correct. I believe something similar can be said of oil today. Not that Im calling a bottom just yet, but onc… read more...

The Fed Telegraphs Hesitancy, OPEC Supply Cut And A Cacophony Of Deafening U.S.-China Alarm Bells

via: SeekingAlpha at 2018-11-19 01:42:30:000

By Stephen Innes UK political drama will continue to rock and roil markets, while the emergence of a distinctly dovish tone from the Fed knocked the USD off its pedestal going into week's end. The week ahead will be cut short by the Thanksgiving holiday in the US. And while this adds up to… read more...

This Week In Money - November 17, 2018

via: SeekingAlpha at 2018-11-18 01:48:26:000

Ross Clark Oil price slide. Robert Campbell Real Estate turning. Glen Kelleway Getting the best mortgage banks are not the only source. Larry Reaugh , President & CEO of American Manganese Inc. Bill Willoughby , CEO … read more...

WTI Weekly: Sell-Side Continuation Through Mid-Week Toward 54.75s, Stopping Point Low Develops There

via: SeekingAlpha at 2018-11-17 00:27:26:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 11-16 November 2018: As noted in last weeks WTI Weekly , the primary expectation for this week was for a buy response at Februarys major key demand, 58… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Nov. 16, 2018

via: SeekingAlpha at 2018-11-16 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Also, please note that there… read more...

Saudis 'snookered' by Trump into tanking crude prices but now look to recover

via: SeekingAlpha at 2018-11-16 18:33:12:000

Oil market analysts say Pres. Trump hoodwinked Saudi Arabia into raising crude production earlier this year, thus pushing the oil market into oversupply and sparking a ~25% drop in crude prices, but now the angry Saudis are considering cutting output with OPEC and its allies by 1.4M bbl/… read more...

Commodities Recap For The Week Of November 16, 2018

via: SeekingAlpha at 2018-11-16 17:50:06:000

The story of this week: Natural Gas- 130% Daily Historical Volatility and lots of action in the UGAZ and DGAZ ETN products It was a wild week in the energy sector, and while most eyes were focusing on the swoon in crude oil that took the price of nearby December NYMEX crude oil futures… read more...

Saudis Got 'Trumped' - Watch What Happens Next

via: SeekingAlpha at 2018-11-16 16:26:46:000

Welcome to the get trumped edition of Oil Markets Daily! Over the last 2-weeks, we've had contacts with various sources that indicated to us that the Saudis were "surprised" by the Iranian waivers. An article released by Reuters last night confirmed what our contacts have been saying. … read more...

The Oil Price Decline Is Almost Laughable

via: SeekingAlpha at 2018-11-16 16:16:11:000

The past several days (and really the past month or so) for oil bulls has been excruciatingly painful. This pain only compounded when, on November 13, WTI crude prices plummeted more than 7% to close at $55.69 per barrel. This is actually the lowest price point for oil since November 2017 an… read more...

U.S. total rig count adds just 1 in latest baker Hughes survey

via: SeekingAlpha at 2018-11-16 13:15:38:000

The total U.S. active drilling rig count added 1 to 1,082, according to the latest Baker Hughes weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commodities news, News on… read more...

Oil Bears - Can They Have Their Cake And Eat It Too?

via: SeekingAlpha at 2018-11-16 11:38:17:000

In this article we will review the current state of the global oil (NYSE: USO ) market taking into account some of the latest data and developments since we last covered the sector about six months ago. We will then discuss the recent severe correction in the oil price and implication for th… read more...

Examining The Recent Price Action In The Energy Market

via: SeekingAlpha at 2018-11-16 09:45:58:000

Over the past two weeks, we have seen considerable volatility in the energy markets. Perhaps the most important development here though is that the technicals point to the switch from a bull market to a bear market in oil. Interestingly, the exact opposite has happened in the natural gas marke… read more...

Oil Sells Off: Will The Price Slide Stop?

via: SeekingAlpha at 2018-11-16 05:44:53:000

After seeing the biggest one-day loss in three years, and oil prices went from four-year highs to a bear market in just six weeks, OPEC scrambles to stop the price slide. Kim Parlee talks with Bart Melek, Global Head of Commodity Strategy, TD Securities about the steep decline and the out… read more...

Oil Price Slide Potentially Bearish For Aluminum, Other Energy-Intensive Metals

via: SeekingAlpha at 2018-11-16 05:39:33:000

Original Post By Stuart Burns We should state from the outset that it's not that energy costs are directly dependent on the oil price - very little electricity generation around the world, Saudi Arabia being an exception, is generated from crude oil. But with power making up to a … read more...

Misdirection Of Houdini-Sized Proportions

via: SeekingAlpha at 2018-11-16 05:26:09:000

Whether intentional or not, the US administration has played their hand masterfully. Since the early October highs, oil prices have dropped over 25 percent, paving the way for a 25 cent drop in retail gasoline prices ( with a cascade to come ). While a number of supply and demand-side consid… read more...

Crude futures give up gains post inventory data; Crude inventory builds sharply

via: SeekingAlpha at 2018-11-15 11:01:16:000

Gasoline -1.4M barrels vs. -1.5M consensus, +1.9M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Top stock market news, Energy stocks… read more...

Iran's Call On OPEC To Kill Off Key Committees Is Misguided

via: SeekingAlpha at 2018-11-15 07:54:08:000

Last week, Iran requested that the Organization of the Petroleum Exporting Countries (OPEC) officially abandon the Joint Ministerial Monitoring Committee (JMMC) and the Joint Technical Committee (JTC), which oversee the OPEC/non-OPEC supply agreement. In a letter of complaint to the OPEC secre… read more...

Looking For The Elusive Silver Lining

via: SeekingAlpha at 2018-11-15 04:25:50:000

By Stephen Innes Markets U.S. stocks fell for a fifth straight day as investors remain bewildered by the political ping-pong match around Brexit. More questions about NAFTA 2 while trade jitter has everyone on edge as the doomy global economic growth narrative continues to take root. O… read more...

OPEC October Production Data

via: SeekingAlpha at 2018-11-15 01:49:59:000

All OPEC data below is from the OPEC Monthly Oil Market Report. The data is through October 2018 and is in thousand barrels per day. OPEC 15 crude oil production was up 127,000 barrels per day in October. That was after September production was revised upward by 13,000 bpd. OPEC pr… read more...

U.S. crude supply rose 8.8M barrels last week, API says

via: SeekingAlpha at 2018-11-14 17:10:15:000

The American Petroleum Institute reportedly shows a build of 8.79M barrels of oil for the week ending Nov. 9, vs. a build of 7.83M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, … read more...

Crude's Drop Makes Higher Prices Likely

via: SeekingAlpha at 2018-11-14 13:46:00:000

Crude oil just set a record of sorts, by falling for eleven consecutive days (as of this morning). Fears that sanctions on Iran would cause a supply shortage, leading to a price spike, now seem unfounded. Not long ago, many were surprised at the high degree of compliance. France's energy giant… read more...

Oil Hub Hubbub: Is Houston The New Cushing?

via: SeekingAlpha at 2018-11-14 08:00:38:000

By Stacey Morris Once upon a time, North Dakota production was negligible, Canadian oil production was much lower than today, and refineries in the Mid-Continent were importing crude from far-off countries. Before you jump in your time machine a la Bill and Ted's Excellent Adventure , I… read more...

Oil halts slide on report of larger output cut

via: SeekingAlpha at 2018-11-14 05:52:29:000

Looking to avert an oversupply that has weakened prices, OPEC and its partners are reportedly discussing a proposal to cut crude output by up to 1.4M bpd for 2019, a larger figure than officials have previously mentioned. More news on: The United States Oil ETF, LP, iPath S&P Crude O… read more...

Oil Bust Sequel? WTI Plunges Over 7% To $55

via: SeekingAlpha at 2018-11-14 04:09:52:000

Whiff of short-term capitulation. But fundamentals are not promising. This is like so 2015: The price of the benchmark crude-oil grade West Texas Intermediate ((WTI)) plunged 7.3% on Tuesday, the biggest percentage drop since March 2016. Since the Financial Crisis, WTI has plunged over 7% on… read more...

There's Significant Risk Ahead

via: SeekingAlpha at 2018-11-14 04:02:54:000

By Stephen Innes US equities finished mostly lower after an extremely intense session as oil prices were hammered mercilessly, dragging the energy sector stocks into the abyss, while any hope for resolution of the U.S.-China trade spat could remain little than a pipe dream given that there… read more...

Approaching The Point Of No Return? Updated

via: SeekingAlpha at 2018-11-14 03:13:44:000

At the end of June, the crude curve really got out of hand. WTI futures had returned to backwardation many months before, and then the eurodollar/collateral explosion May 29 sapped some crude strength. Over the following month, curve backwardation would become extreme as the benchmark price se… read more...

As Oil Plunges, Energy Junk Bonds Turn Dangerous - Again

via: SeekingAlpha at 2018-11-14 02:23:01:000

Back in 2014, oil was falling and hundreds of billions of dollars of energy junk bonds and leveraged loans looked to be at risk. Wolf Street had this to say at the time: Oil and Gas Bloodbath Spreads to Junk Bonds, Leveraged Loans. Defaults Next The price of oil has plunged nearly … read more...

Oil Declining At Fastest Rate Since 2015-2016 Crash

via: SeekingAlpha at 2018-11-14 01:48:46:000

With a record losing streak and the pace of declines picking up steam to the downside, the recent decline in crude oil prices is starting to resemble the bust we saw three years ago. With today's decline, crude oil prices have now given up over 25% since the early October peak and are within $… read more...

5 Issues For Investors To Watch

via: SeekingAlpha at 2018-11-14 00:58:21:000

Posted by Kristina Hooper, Chief Global Market Strategist on November 12, 2018, in Market & Economic Weekly Market Compass: Can a split US Congress find agreement on policy? Is India due for a central bank shakeup? Last week, the US experienced a deepening split in politi… read more...

U.S. Shale Oil Again A Vital Part Of Global Energy Output

via: SeekingAlpha at 2018-11-13 18:44:58:000

By Debbie Carlson At a Glance Thanks to shale-oil production, the U.S. is now the biggest producer of crude oil. The Energy Information Administration, the statistical arm of the Department of Energy, said this year the U.S. surpassed both Russia and Saudi Arabia to take the crown … read more...

A Bear On Crude Asks: Is A Crash Just Getting Going?

via: SeekingAlpha at 2018-11-13 18:19:21:000

Background On April 24, I wrote The Strengthening Case To Sell The Oils . At the time, a major SPDRs ETF on the oils ( XLE ) had rebounded to $73.75. XLE is around $65.50 as I write this on Tuesday afternoon. The price of crude, which has been dropping for over two weeks, has plunged anot… read more...

U.S. crude sinks 7% to lowest in a year; nat gas climbs to four-year high

via: SeekingAlpha at 2018-11-13 15:41:56:000

Crude oil settles at its lowest in a year, with December WTI -7.1% to $55.69/bbl and extending its record losing streak into a 12th consecutive session while Brent recently was -6.6% to $65.47/bbl and its lowest level since March. More news on: The United States Oil ETF, LP, The United… read more...

VIDEO: Top 5 Charts Of The Week - Oil And Quantitative Tightening

via: SeekingAlpha at 2018-11-13 12:36:39:000

In this video we run through the free weekly email newsletter " The Top 5 Charts of the Week " and add a bit of extra comments and context. It's a useful tour across some of our latest work and thinking and just a great selection of global macro/market charts. This week we look at the f… read more...

Crude oil extends losses as OPEC warns of 2019 oil glut

via: SeekingAlpha at 2018-11-13 08:40:48:000

Crude oil extends its plunge into bear market territory, with U.S. WTI -1.5% at $59.04/bbl and Brent -1.2% at $69.28/bbl, driven by oversupply fears . More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy sto… read more...

OPEC's Pending Demise

via: SeekingAlpha at 2018-11-13 06:15:00:000

The crude oil market is a political game of chess that has dominated the world economy at times since the 1970s. The Organization of the Petroleum Exporting Countries is an international cartel with 15 member nations. The original five members founded OPEC in 1960 in Baghdad included Iran, Ira… read more...

The OPEC Flip-Flop

via: SeekingAlpha at 2018-11-13 05:30:39:000

By Warren Patterson, Commodities Strategist After meeting in Abu Dhabi over the weekend, OPEC officially decided against announcing a return to production cuts. However, they appear to have laid the groundwork for announcing adjustments at their next meeting. As things stand, we think c… read more...

Will Energy Bonds Hold Up In A Volatile Oil Market?

via: SeekingAlpha at 2018-11-13 04:16:00:000

By Will Smith, Gershon Distenfeld A dramatic fall in oil prices, followed by a sell-off in high-yield energy bonds - is it time to worry about oil and gas companies again? Quite the contrary. The North American issuers that make up most of the world's high-yield energy market are in a bett… read more...

4 Major Trade War Storylines For 2019

via: SeekingAlpha at 2018-11-13 03:10:50:000

By Bluford Putnam At a Glance 2019 is shaping up as a challenging year as the unintended and powerful indirect effects of a prolonged U.S.-China trade war start to expand exponentially. From a corporate earnings perspective, the trade war has barely mattered in 2018. 2019 will be a m… read more...

Don't Watch What The Saudis Say, Watch What The Saudis Do

via: SeekingAlpha at 2018-11-12 17:45:22:000

Welcome to the watch the signal edition of Oil Markets Daily! It's been a turbulent month for global equity investors, but especially energy investors. For those that were long energy stocks, we were all part of history as WTI declined 10-days in a row. Unfortunately, it was the bad side… read more...

Oil rally fades further as Trump weighs in on Saudis

via: SeekingAlpha at 2018-11-12 13:42:40:000

Crude attempted to pull out of its bear run earlier today after the Saudis promised to slash oil exports. That's faded over the past couple of hours, with WTI crude now modestly lower on the session at $59.98 per barrel. More news on: The United States Oil ETF, LP, iPath S&am… read more...

Monday Market Madness - Trump Leaves G20 Early, Skips Asia Summit Entirely

via: SeekingAlpha at 2018-11-12 10:47:31:000

Oh what a beautiful morning! We went long on Gasoline (/RB) into the weekend as we expected OPEC to do SOMETHING to prop up Oil (/CL) at the $60 mark and we thought /RB Futures would make a good play into Thanksgiving regardless. We did, in fact, get noise over the weekend that our freinds … read more...

Weekly Energy Recap: Oil Prices Tumble On 'Gloomy' Reports Of Stocks Oversupply

via: SeekingAlpha at 2018-11-12 08:47:27:000

Oil markets were disappointing last week, as reports of stocks oversupply and poor economic numbers sent prices tumbling. The International Energy Agency ((IEA)) has succeeded in paving the way for a low oil price environment by promoting poor oil demand growth globally with unjustified pess… read more...

President Trump Takes Credit For Lower Crude Oil

via: SeekingAlpha at 2018-11-12 08:05:00:000

At a memorable press conference on Wednesday, November 8 that followed the midterm elections in the U.S. President Trump tackled a host of issues. Aside from arguing with the press which has become a routine, the President said that his policies have caused the price of crude oil to drop. Issu… read more...

FPA Capital Fund, Inc. Q3 2018 Commentary

via: SeekingAlpha at 2018-11-12 06:45:00:000

Read more … read more...

Chart Of The Week: Crude Oil Vs. Energy Stocks - A Big Gap

via: SeekingAlpha at 2018-11-12 04:07:08:000

Energy stocks have had a tough time in recent years, and have seriously lagged behind the S&P 500, as a sort of "old economy" vs. "new economy" dynamic plays out. The problem with this is that it casts real doubt over the price of oil, and if old linkages hold, crude oil could be headed mu… read more...

Goehring & Rozencwajg Natural Resource Market Commentary Q3 2018: Into The 'Red Zone' We Go

via: SeekingAlpha at 2018-11-12 03:30:00:000

Read more … read more...

Saudis bolster oil prices with supply cut

via: SeekingAlpha at 2018-11-12 02:51:01:000

Saudi Arabia said it will slash its oil exports unilaterally next month - by 500K barrels per day - as OPEC producers met in Abu Dhabi over the weekend to halt a market slump that had seen crude decline by 20% since early October. More news on: The United States Oil ETF, LP, iPath S&… read more...

Falling Further From The Tree: Oil And Gas Corporate Venture Activity Shifts Away From Core E&P Technologies

via: SeekingAlpha at 2018-11-12 01:21:02:000

By Carolyn Seto Over the past decade, oil and gas players have increasingly pursued open innovation strategies to complement internal research and development activities. Corporate venture investing is one such form of technology sourcing that allows companies to access innovation develope… read more...

Bear oil market has Saudis weighing output cut

via: SeekingAlpha at 2018-11-11 10:00:31:000

Grappling with a drop in crude prices, Saudi Arabia is discussing a proposal that could see OPEC and non-OPEC oil producers cut output by up to 1M barrels per day, sources told Reuters. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityS… read more...

'These Are The Times That Try Men's Souls'

via: SeekingAlpha at 2018-11-11 07:06:15:000

Thank you Thomas Paine and CNBC contributors Fred Imbert and Ryan Browne for the title and inspiration for this post. Paine's pamphlet "The American Crisis" penned during the Revolutionary War did indeed reflect dire times in our history. Meanwhile, CNBC's post-market post (Dow drops 2… read more...

This Week In Money - November 10, 2018

via: SeekingAlpha at 2018-11-11 01:39:33:000

Ross Clark Oil. Hilliard MacBeth Canadian Real Estate, Home Equity Line of Credit, Mortgages. Bob Hoye US Election Results and the Markets. Larry Reaugh - President & CEO of American Manganese Produced by Read more … read more...

WTI Weekly: June 2018's Major Demand Fails Early Week, Sell-Side Continuation To 59.26s

via: SeekingAlpha at 2018-11-10 13:59:41:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 04-09 November 2018: As noted in last weeks WTI Weekly , the aggressive price discovery of recent weeks to June 2018s key demand cluster, 64.40s-63.40s… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Nov. 9, 2018

via: SeekingAlpha at 2018-11-09 19:03:00:000

Welcome to the latest edition of the Energy Recap. Here are this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energy News A… read more...

As Average A Year As You Can Get For Gas Prices

via: SeekingAlpha at 2018-11-09 18:42:44:000

With oil prices crashing over 20% from their recent highs, one welcome effect of the decline is less pain at the pump. According to AAA , the national average price of a gallon of gas is currently $2.72 per gallon, which is down 6.5% from just one month ago. The table below lists the average … read more...

Interview With Open Square Capital's Nelson Wu - Oil, Energy Stocks, And Investing In General

via: SeekingAlpha at 2018-11-09 13:42:01:000

Today we have Nelson Wu, founder and managing member of Open Square Capital with us for an interview about markets, oil, and just his investment process in general. Thank you for taking the time out of your busy schedule to join us Nelson and congratulations on the stellar 2018 performance o… read more...

U.S. total rig count gains 14, Baker Hughes says

via: SeekingAlpha at 2018-11-09 13:22:35:000

The total U.S. active drilling rig count jumped by 14 to 1,081, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commodities new… read more...

OPEC's Foundation Shaken, As Saudi Arabia Mulls Withdrawing

via: SeekingAlpha at 2018-11-09 10:44:37:000

In July I wrote, Trump Aims To Break OPEC. In that article I said, "KSA may feel the need to distance itself from the group (OPEC) to retain favorable relationships with the U.S." And according to a report in the WSJ , Saudi Arabia is studying the effects of a break-up of OPEC on the oil m… read more...

Brent crude tips below $70/bbl, knocks on door of bear market

via: SeekingAlpha at 2018-11-09 08:15:06:000

Now it's Brent crude approaching bear market territory , -1.2% to $69.82/bbl on ICE Futures Europe and tumbling more than 19% from its recent October peak. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy … read more...

Russia clashes with Western oil buyers

via: SeekingAlpha at 2018-11-09 05:05:33:000

Seeking protection against possible new U.S. sanctions, Russian energy majors are heaping pressure on Western oil buyers to use euros instead of dollars for payments, as well as penalty clauses in contracts. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Retur… read more...

Crude Oil: Sanctions And Waivers Come

via: SeekingAlpha at 2018-11-09 02:43:01:000

By Warren Patterson, Commodities Strategist Despite the sanctions, the market has come under pressure, with Brent falling as much as 16% from its recent peak. We think the market is oversold, and expect to see an upward correction in the near term. However, as we move into 2019, we beli… read more...

Trade War: Impact On Earnings, Soybeans, Oil And Treasuries

via: SeekingAlpha at 2018-11-09 01:31:05:000

By Bluford Putnam With the U.S.-China trade war showing no sign of abating, we examine its possible implications on corporate earnings, oil, soybeans and Treasuries in Read more … read more...

WSJ: Saudi Arabia think tank is studying potential breakup of OPEC

via: SeekingAlpha at 2018-11-08 14:45:16:000

Saudi Arabias top government funded think tank is studying the possible effects on oil markets of a breakup of OPEC , WSJ reports, a remarkable research effort for the country that has dominated the oil cartel for nearly 60 years. More news on: The United States Oil ETF, LP, iPath… read more...

U.S. oil benchmark drops below $61/bbl, enters bear market

via: SeekingAlpha at 2018-11-08 10:15:17:000

The U.S. WTI oil benchmark extends its recent decline to enter a bear market , as its 20% drop from recent high ends its longest bull market since 2008: WTI -1.2% at $60.94/bbl, Brent -0.9% at $71.40/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPat… read more...

Scenes From The U.S.-China Trade War

via: SeekingAlpha at 2018-11-08 03:23:29:000

On March 22, 2018, President Trump initiated a trade war by imposing tariffs on goods the U.S. imports from China. Almost immediately, China retaliated by imposing its own list of tariffs on goods that it imports from the United States. In the months since, there have been additional rou… read more...

Video: Top 5 Charts Of The Week - Oil, Equities, Emerging Markets

via: SeekingAlpha at 2018-11-08 02:35:38:000

In this video we run through the free weekly email newsletter " The Top 5 Charts of the Week " and add a bit of extra comments and context. It's a useful tour across some of our latest work and thinking and just a great selection of global macro/market charts. This week we look at the fol… read more...

As The Election Dust Settles

via: SeekingAlpha at 2018-11-08 01:27:51:000

By Stephen Innes Markets US markets had a tremendous post-election session as the great divide offers investors with some sense of relief that there are more checks and balances on President Trump's freewheeling style of politics, but has left analysts debating what this will mean for … read more...

Questions Over Reliability Of IEA Outlook

via: SeekingAlpha at 2018-11-07 16:46:26:000

Since the start of 2018, the Paris-based International Energy Agency ((IEA)) has constantly been putting forward pessimistic forecasts to halt rising oil prices. In 2017/early 2018, it concocted the bearish scenario of a surge in shale oil production that will neutralize OPEC/non-OPEC output c… read more...

Crude Oil: Opportunity Brewing

via: SeekingAlpha at 2018-11-07 11:33:53:000

Crude oil can't seem to catch a bid at the moment. Trading at around $62 a barrel, the commodity has already lost up to $15 a barrel over the last 30 days alone. U.S. sanctions in Iran and record production in the US have been cited as the reasons for the free fall in the oil price over the la… read more...

Crude futures decline post inventory data

via: SeekingAlpha at 2018-11-07 10:31:09:000

Gasoline +1.9M barrels vs. -2.3M consensus, -3.2M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Top stock market news, Energy stocks… read more...

Equities And Bonds Jump, While The Dollar Slumps

via: SeekingAlpha at 2018-11-07 08:04:28:000

Overview: The dollar has fallen against nearly every currency. It had been moving lower at the start of the week, but what seems like a correction broadened and deepened following the US midterm election, The outcome was largely in line with expectations for the Republicans to hold the S… read more...

Crude Spreads Here, There, And Everywhere - What It Means For Midstream

via: SeekingAlpha at 2018-11-07 08:00:35:000

By Stacey Morris While WTI Cushing prices were recently at the mid-$60s per barrel (bbl), prices for heavy crude in Canada were trading at less than $30/bbl. Meanwhile, WTI Cushing is trading at a discount to crude prices on the Texas Gulf Coast that is wider than the pipeline transportati… read more...

Oil Is Running Out Of Fuel But May Provide The Fed A Reason To Pause

via: SeekingAlpha at 2018-11-07 06:32:32:000

OIL-ympus has Fallen Oil ( USO , OIL ) price is falling to $61.5 a barrel, completing a 20% drop from its 52-week high, recorded not much over a month ago. Crude oil WTI is at the lowest level since April as US granted eight mega consumers/importers to keep buying oil from Iran, at least … read more...

North American Energy Markets Will Benefit From USMCA

via: SeekingAlpha at 2018-11-07 05:00:14:000

By Scott Bauer At A Glance The deal ensures the U.S. can expand natural gas exports to Mexico. A Canadian crude oil bottleneck may be broken with the new agreement. After more than a year of intense negotiations, the United States, Canada and Mexico reached an agreement to update… read more...

Big Oil's Profit Bonanza Raises Flaring Risk

via: SeekingAlpha at 2018-11-07 01:03:48:000

By Breakingviews Big Oil is at risk of flaring its profit bonanza. Exxon Mobil (XOM) and Chevron (CVX) posted their highest quarterly cash flow since the days of $100 crude as higher prices helped them squeeze more out of each barrel pumped. Texas drills are humming and areas like Guyana a… read more...

Who On Earth Would Sell Crude With Iranian Oil Sanctioned?

via: SeekingAlpha at 2018-11-07 00:40:00:000

The question of this article is facetious. Maybe some will find it amusing. In my article, Trump Signals Drawdown Of The Strategic Petroleum Reserve dated August 21, 2018, I mentioned several options President Trump had to manage the impact of the sanctions on Iran: get Saudi Arabia and… read more...

Crude adds to declines after big jump in inventories

via: SeekingAlpha at 2018-11-06 16:46:22:000

The API reports a 7.83M barrel boost to domestic oil inventories in the last week. That would be the largest jump in about six weeks. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Commoditi… read more...

Are The Iran Sanctions Affecting Prices At The Pump?

via: SeekingAlpha at 2018-11-06 16:16:55:000

By Bruce Blythe The U.S. sanctions that hobbled Iran's oil exports may have been a concern for American motorists facing higher prices at the pump. But as a new round of sanctions begins, gasoline and oil markets are showing something else. NYMEX crude oil futures prices, which are based… read more...

Oil prices sink to seven-month lows as Trump grants Iran sanctions waivers

via: SeekingAlpha at 2018-11-06 11:54:36:000

Crude oil prices plunge to seven-month lows after the U.S. granted sanctions exemptions to top buyers of Iranian oil, as the market struggles to sort out the effects of the waivers: WTI -2.6% to $61.45/bbl, Brent -2.5% to $71.32/bbl. More news on: The United States Oil ETF, LP, Ene… read more...

Watch The Rhetoric Flip - Saudi Is About To Tank Exports To The U.S.

via: SeekingAlpha at 2018-11-05 15:16:17:000

Welcome to the rhetoric flip edition of Oil Markets Daily! We have long suspected that the Saudis, in an attempt to keep oil prices under control leading up to the mid-term elections, drew down its own storage and flooded the US with higher crude exports. In a report we wrote on August… read more...

Deja Vu Into 2014: What's Next For Oil Prices?

via: SeekingAlpha at 2018-11-05 14:12:06:000

Background Last week oil prices fell to an eight-month low. Brent and West Texas Intermediate crude oil spot prices lost 9.2% and 12.3%, respectively, since their October 3rd multi-year highs. Brent Crude Oil Spot Price data by YCharts Last week, oil prices even touched an 8-month … read more...

Weekly Energy Recap: Strategy Behind The Iran Sanctions

via: SeekingAlpha at 2018-11-05 12:15:35:000

Crude oil prices continued their downward momentum with Brent crude falling to a nearly three-month-low at $72.83 per barrel. WTI also fell to $63.14 per barrel. The commitment of Saudi Arabia and Russia to offset any shortages after the imposition of sanctions on Iran have eased oil price… read more...

Risk Returns

via: SeekingAlpha at 2018-11-05 08:29:35:000

Overview: Cynicism over the prospects of a resolution to US-Chinese trade tensions and a break-through in UK-EC Brexit talks appears to be injecting a more cautious tone to the capital markets. The recovery in equities has stalled. The MSCI Asia Pacific benchmark halted a four-day rally… read more...

Crack Spreads Say Buy Refiners On A Scale Down Basis During The Current Sale

via: SeekingAlpha at 2018-11-05 07:09:00:000

In the oil market, crack spreads represent the economics of processing a barrel of crude oil into oil products. The process of refining a barrel of crude oil into products requires passing the energy commodity through a catalytic cracking process which heats the petroleum to various temperatur… read more...

Crude Oil Sits At Lows As Sanctions Begin This Week

via: SeekingAlpha at 2018-11-05 06:15:00:000

The price of crude oil has been dropping steadily since reaching a high of $79.90 on the nearby NYMEX futures contract and $86.72 on Brent futures on October 3. As the energy commodity was working its way higher, President Trump repeatedly lobbied Saudi Arabia and other allies in the Middle Ea… read more...

Iran will defy U.S. sanctions and sell oil

via: SeekingAlpha at 2018-11-05 03:42:59:000

Iran will "sell its oil and break sanctions" reimposed by the U.S. on its vital energy and banking sectors, Iranian President Hassan Rouhani told a meeting of economic officials. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3… read more...

OIL Weekly: Is Bear Momentum Catching A Break

via: SeekingAlpha at 2018-11-04 18:10:05:000

Introduction Welcome to my Oil Weekly report. In this brief report, I wish to discuss my views on oil markets and the iPath S&P Oil Total Return Index Exchange-Traded Notes ( OIL ). OIL replicates the performance of its sub-index, the S&P GSCI Crude Oil Total Return Index, … read more...

Oil market on alert before Iranian sanctions

via: SeekingAlpha at 2018-11-04 09:29:44:000

Tough U.S sanctions targeting Iran's critical energy sector come into force at midnight, as well as fresh measures against the nation's shipping and financial industries. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long C… read more...

WTI Weekly: Balance Development Early Week, Sell-Side Continuation To 62.63s Near June 2018 Major Demand

via: SeekingAlpha at 2018-11-03 02:20:24:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 28 October-02 November 2018: As noted in last weeks WTI Weekly , the development of a stopping point low, 65.74s, in last weeks auction provided stru… read more...

Energy Recap: Once Again Available To All Readers

via: SeekingAlpha at 2018-11-02 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we're excited to announce that the Recap has returned to it's original home on the free site, after a brief experiment making it exclusive for PRO/Essential subscribers. We hope that readers who expressed some disappointment about t… read more...

U.S. total rig count drops by 1, Baker Hughes says

via: SeekingAlpha at 2018-11-02 13:21:16:000

The total count of U.S. drilling rigs in the U.S. fell by 1 to 1,067 after gaining 1 last week, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Sto… read more...

For The Oil Bull Thesis, It's The Bottom Of The 9th With 2 Outs

via: SeekingAlpha at 2018-11-02 10:35:59:000

Speculation ran rife that an oil shortage would develop when sanctions are re-imposed on Iran in November, sending oil prices above $100. But impending sanctions created the counter-intuitive conditions for an oil glut to develop. The S&P 500 Energy Sector SPDR ( XLE ) has dropped about … read more...

Let's Just Pretend This Isn't Happening, Again

via: SeekingAlpha at 2018-11-02 06:10:29:000

Why aren't more people talking about this? It's a huge development and nary a peep anywhere. The mainstream media is filled with baited expectations for 3% wage growth on Payroll Friday. All eyes are on the labor market, which is a lagging indication, instead of on the oil market, which is for… read more...

Crack Whacked As Surplus Back

via: SeekingAlpha at 2018-11-02 05:55:43:000

With the U.S. gasoline market in a state of plentiful supply, the front-month RBOB gasoline crack spread (the gauge for the profitability of refining gasoline) has dropped below $10/bbl (versus WTI) for the first time since early 2017. More-than-ample inventories have helped weigh on prices … read more...

U.S. grants oil waivers under Iran sanctions

via: SeekingAlpha at 2018-11-02 04:41:45:000

Oil is set for its biggest weekly loss since February as the U.S. reportedly agreed to let eight countries - including Japan, India and South Korea - keep buying Iranian oil after it reimposes sanctions on the OPEC producer. More news on: The United States Oil ETF, LP, iPath S&P Crude … read more...

U.S. crude oil sinks to seven-month low as production, inventories rise

via: SeekingAlpha at 2018-11-01 15:39:49:000

The Energy Information Administration reported U.S. stockpiles of crude rose for the sixth straight week , up 3.2M barrels to 426M, the highest total since June, and the EIA's monthly oil production data showed August output surged by 2.1M bbl/day Y/Y to a record 11.3M bbl/day. More news … read more...

Iran Oil Sanctions Pose Opportunity For U.S. Producers

via: SeekingAlpha at 2018-11-01 14:45:39:000

Iran has asserted that no OPEC member can take over its share of oil exports. This has created a quandary, as only OPEC producers in the Arabian Gulf have crude available with a sulfur level above 0.5 percent, matching Iran's sour crude. Asian refiners have always hungered for the heavier, h… read more...

U.S. Oil Production Soars Past Expectations In August

via: SeekingAlpha at 2018-11-01 12:00:34:000

Welcome to the US oil production soars edition of Oil Markets Daily! US oil production soars in August to a new record high of 11.346 mb/d. This is 416k b/d higher m-o-m and is the largest monthly production increase. Relative to the EIA weekly estimate, the EIA 914 US oil production r… read more...

Oil And Gas Model Stability As Pressure On Oil Prices Rises

via: SeekingAlpha at 2018-11-01 07:09:54:000

Research Signals - October 2018 Oil prices may be in for a wild ride as geopolitical and economic shocks threaten to spill over into markets. IHS Markit has raised its outlook on Brent and WTI prices in 4Q 2018 while noting that the next 18 months will be plagued by escalating tensions w… read more...

Crude Inventories: Up, But Inline

via: SeekingAlpha at 2018-11-01 05:11:26:000

The EIA updated their weekly data for petroleum products this morning. Crude inventories rose to 426 million barrels this week, up 1.68 million from last week. While far from the highs of the past five years, this is only slightly above the five-year average for inventory levels. These numbers… read more...

Crude futures pare losses post inventory data

via: SeekingAlpha at 2018-10-31 10:31:09:000

Gasoline -3.2M barrels vs. -2.1M consensus, -4.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, News on ETFs, Stocks on the move, Commodities news, Top stock market news, Energy stocks news… read more...

Window-Dressing Wednesday - Painting A Prettier Picture To End The Month

via: SeekingAlpha at 2018-10-31 10:29:50:000

And we're back! (for now). Keep in mind, of course that 2,710 is only the WEAK bounce line on the S&P and we need to clear AND HOLD all the bounce lines before the market is back in a truly bullish mode. While the 5% Rule protects us from jumping in and chasing false bottoms - afte… read more...

Colorado's Proposition 112: What Is It, And Why Do Midstream Investors Care?

via: SeekingAlpha at 2018-10-31 08:00:58:000

By Stacey Morris Energy analysts and investors have been closely monitoring the political climate in Colorado as Election Day approaches on November 6th. Proposition 112 (or Initiative 97) will be on the ballot and could have implications for the future of energy production in the state if… read more...

U.S. crude supply rose 5.7M barrels last week, API says

via: SeekingAlpha at 2018-10-30 17:05:03:000

The American Petroleum Institute reportedly shows a build of 5.69M barrels of oil for the week ending Oct. 26, vs. a build of 9.88M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN,… read more...

Crude oil drops to two-month lows; U.S. inventories expected to rise further

via: SeekingAlpha at 2018-10-30 16:37:40:000

Crude oil futures fell to their lowest settlement in more than two months , following signs of rising supply and concern that global economic growth and demand for fuel will fade as a result of the U.S.-China trade war. More news on: The United States Oil ETF, LP, Energy Select Sector S… read more...

Oil Update - October 2018

via: SeekingAlpha at 2018-10-30 06:23:58:000

My November oil price range forecast for West Texas Intermediate returns to where it was for July through September. That is to say, I expect that WTI will range between $65.00 and $75.00 per barrel, a decrease of $2.50 from October's upper and lower range values. While oil prices might deviat… read more...

COT Black: Term Oil Means Turmoil

via: SeekingAlpha at 2018-10-30 05:55:34:000

Inflation hysteria was as much crude oil as anything else. After all, it was the sudden spike higher in oil prices that would eventually push the US CPI, PCE Deflator, Europe's HICP, and even Japan's moribund inflation index. Central bankers were giddy, as was mainstream commentary extrapolati… read more...

Speculators Are Dumping Brent/WTI Futures Right Before The Iran Sanctions. What Are The Implications?

via: SeekingAlpha at 2018-10-29 17:26:06:000

In the past, we have never found much value following CFTC money manager long/short positioning updates. For starters, once a signal becomes crowded, the trading strategy associated with it seldom works. But thanks to an inquiry from a long-time subscriber, we created a chart breaking down the… read more...

Oil price edges toward worst monthly performance since mid-2016

via: SeekingAlpha at 2018-10-29 16:19:56:000

Crude oil prices settle lower and are on track for their worst monthly performance since mid-2016 , after Russia signaled production would remain high and as concern over the global economy caused worries about demand for crude. More news on: The United States Oil ETF, LP, Energy Select S… read more...

Weekly Energy Recap: Speculators Play Bigger Role On Downward Sentiment

via: SeekingAlpha at 2018-10-29 12:06:33:000

So far, oil prices have responded to geopolitical factors in a relatively calm fashion, with prices still remaining in the $70-$80 range. However, talk about oil price volatility seems to be in fashion. Price volatility became much steeper in the past two weeks. This sets the stage for specu… read more...

4 Reasons To Buy The Dip In Crude Oil

via: SeekingAlpha at 2018-10-29 06:00:00:000

Markets rarely move in a straight line; rather they move higher or lower via backing and filling during short, medium, and long-term trends. The bull market in crude oil began on February 21, 2016, when the price of WTI NYMEX crude oil futures hit their lowest level since 2003 at $26.05 per ba… read more...

WTI Weekly: Balance Development Early Week Before Sell-Side Continuation To 65.75s Within Key Demand

via: SeekingAlpha at 2018-10-28 07:37:45:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 21-26 October 2018: As noted in last weeks WTI Weekly , the development of a stopping point low, 68.53s, in last weeks auction provided structural indi… read more...

This Week In Money - October 27, 2018

via: SeekingAlpha at 2018-10-28 01:48:30:000

Ross Clark Declining Stock Markets, Crude. Wolf Richter Stock Market, Interest Rates, Real Estate. Ed Steer Gold, Silver. Larry Reaugh President & CEO of American Manganese Inc. Ian Klassen President & CEO of Grande P… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Oct. 26, 2018

via: SeekingAlpha at 2018-10-26 19:03:00:000

Welcome to the latest edition of the Energy Recap. Let's get right to this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energ… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Oct. 26, 2018

via: SeekingAlpha at 2018-10-26 19:03:00:000

Welcome to the latest edition of the Energy Recap. Let's get right to this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energ… read more...

Commodities Recap For The Week Of Oct. 26, 2018

via: SeekingAlpha at 2018-10-26 17:23:00:000

The Story of This Week: Crude Oil Comes Under Pressure - Fundamentals or Politics? On October 3, the price of both WTI and Brent nearby crude oil futures rose to new highs. At $76.90 and $86.72 per barrel, WTI and Brent had not traded at such lofty levels since 2014. Crude oil has been … read more...

Commodities Recap For The Week Of Oct. 26, 2018

via: SeekingAlpha at 2018-10-26 17:23:00:000

The Story of This Week: Crude Oil Comes Under Pressure - Fundamentals or Politics? On October 3, the price of both WTI and Brent nearby crude oil futures rose to new highs. At $76.90 and $86.72 per barrel, WTI and Brent had not traded at such lofty levels since 2014. Crude oil has been … read more...

U.S. total rig count gains 1 in latest Baker Hughes survey

via: SeekingAlpha at 2018-10-26 13:11:53:000

The total count of U.S. drilling rigs in the U.S. inched up by 1 to 1,068 after rising by 4 last week, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, E… read more...

U.S. total rig count gains 1 in latest Baker Hughes survey

via: SeekingAlpha at 2018-10-26 13:11:53:000

The total count of U.S. drilling rigs in the U.S. inched up by 1 to 1,068 after rising by 4 last week, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, E… read more...

China cuts Iranian oil purchases

via: SeekingAlpha at 2018-10-26 04:15:59:000

China is cutting some of its oil trade with Iran after vowing for months to resist U.S. sanctions on the exports, which go into effect in early November. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, News on… read more...

China cuts Iranian oil purchases

via: SeekingAlpha at 2018-10-26 04:15:59:000

China is cutting some of its oil trade with Iran after vowing for months to resist U.S. sanctions on the exports, which go into effect in early November. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, News on… read more...

Don't Be Fooled - Iran's Crude Exports Are Still Falling

via: SeekingAlpha at 2018-10-25 11:50:03:000

Welcome to the don't be fooled edition of Oil Markets Daily! There seems to be a new oil bear thesis in the making - Iran's crude exports won't fall that much once US sanctions hit on Nov 4th. We have bad news for that new oil bear thesis, Iran's crude exports are still falling and s… read more...

Weekly Edge: Oil Inventories Rise, Prices Fall

via: SeekingAlpha at 2018-10-25 03:30:24:000

By Troy Tanzy Oil prices fell through Tuesday (10/23) and early Wednesday morning (10/24) amid continued pressure on the commodity. Brent crude, the global benchmark oil price, was trading at just above $76 per barrel, nearing its lowest point since early September. Brent closed more tha… read more...

Temperamental Markets

via: SeekingAlpha at 2018-10-25 01:17:21:000

By Stephen Innes US Markets Not the best note for US equity markets at the Bell. *DOW JONES INDUSTRIAL AVERAGE ERASES GAIN FOR THE YEAR *S&P 500 INDEX ERASES GAIN FOR THE YEAR It's clear as a bell, despite the market's daily mood swings, risk aversion has a stronger grip of … read more...

Midland crude discount deepens to $6.25/bbl on Energy Transfer pipe delay

via: SeekingAlpha at 2018-10-24 14:28:18:000

WTI Midland trades at a $6.25/bbl discount to U.S. crude, the widest in two weeks, a day after Energy Transfer Partners ( ETP ) said its West Texas Gulf pipeline remained offline for maintenance that was prolonged after an oil spill. More news on: Energy Transfer Partners, L.P., Plains A… read more...

OIL Weekly: The Correction Persists

via: SeekingAlpha at 2018-10-24 11:00:31:000

Welcome to my Oil Weekly report. In this brief report, I wish to discuss my views on oil markets and the iPath S&P Oil Total Return Index Exchange-Traded Notes ( OIL ). OIL replicates the performance of its sub-index, the S&P GSCI Crude Oil Total Return Index, which invests dir… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-10-24 10:31:11:000

EIA Petroleum Inventories: Crude +6.3M barrels vs. +3.7M consensus, +6.5M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Stocks on the move, Top stock market news, Energ… read more...

Disappointing Flash PMI Weighs On Euro

via: SeekingAlpha at 2018-10-24 08:26:20:000

Overview: The US dollar is firmer against the major currencies and most emerging market currencies. While the seemingly fragile equity markets are still the center of investors' attention, the weakness of the eurozone flash PMI is disconcerting and has sent the euro closer to $1.14. Chi… read more...

5 Issues Rattling Global Markets

via: SeekingAlpha at 2018-10-24 01:04:30:000

By Kristina Hooper, Chief Global Market Strategist on Oct 22, 2018, in Market & Economic Weekly Market Compass: Trade tops the list once again, while central banks take center stage this week There was no rest for the weary last week, as geopolitical developments came fas… read more...

When The (Equity) Walls Come Tumbling Down

via: SeekingAlpha at 2018-10-24 01:01:51:000

By Stephen Innes What started as an innocent equities correction in Asia spilled over into the NY session as classic risk-off unfolded as US yields dipped with oil and gold prices rocketed higher. Risk sentiment is on the back foot this morning, with global equities and commodities weaker…. read more...

U.S. crude supply rose 9.9M barrels last week, API says

via: SeekingAlpha at 2018-10-23 17:05:39:000

The American Petroleum Institute reportedly shows a build of 9.88M barrels of oil for the week ending Oct. 19, vs. a draw of 2.13M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, … read more...

Crude Oil Bulls Stampede From 'Iran Sanctions' Trade

via: SeekingAlpha at 2018-10-23 15:09:51:000

To stampede: "rush wildly in a sudden mass panic." A month ago, I identified three "surprises" that could cause oil bulls to stampede (read here ). The first among them was "Iran may be able to sell more of its oil to China, blunting U.S. sanctions." "China doesn't pay attention to the US… read more...

Will The Oil Bulls Finally Get One Over On The Bears?

via: SeekingAlpha at 2018-10-23 11:28:24:000

In my last article , I was bullish on Brent Oil ( BNO ) and WTI Crude ( OIL ), as I expected them to have an upwards rally. This came true as both attained their respective price targets of $84.61 and $72.09. Moreover, once they ascended to the projected price range, both had a bearish revers… read more...

Crude prices plunge as Saudi Arabia reassures market on supply

via: SeekingAlpha at 2018-10-23 10:40:20:000

U.S. WTI crude oil -2.6% to $67.56/bbl and Brent -2.3% to $78.01/bbl after Saudi Arabia said it could supply more crude quickly if needed. More news on: Exxon Mobil Corporation, Chevron Corporation, Royal Dutch Shell plc, Energy stocks news, Commodities news, Stocks on the move, Top … read more...

Can OPEC Still Influence The Price Of Crude Oil?

via: SeekingAlpha at 2018-10-23 03:26:31:000

By Bob Iaccino At a Glance Undoubtedly the shale revolution has taken absolute power from OPEC in terms of oil prices, but they still hold more power than the West would like to admit The acronym "NOPEC" has appeared in the headlines lately and is drawing the attention of crude oil t… read more...

Markets Remain Shrouded In A Thick Blanket Of Risk

via: SeekingAlpha at 2018-10-23 00:31:22:000

By Stephen Innes The USD outperformed on Monday on the back of Italy and Brexit risk while the mere utterance of a protracted equity correction remains a highly sensitive topic that investors fear could morph from a wall of worry into a towering wall of pain. Risk aversion continues to p… read more...

China's Oil Demand Remains Strong Despite Macro Concerns

via: SeekingAlpha at 2018-10-22 16:47:23:000

Welcome to the China's demand is still very strong edition of Oil Markets Daily! There are a lot of macro headline concerns nowadays from global trade wars to strengthening USD and emerging market contagion risks. China is at the center stage of all of this with the Shanghai index as one… read more...

Weekly Energy Recap: Little Change In Oil Prices As Supply Concerns Ease

via: SeekingAlpha at 2018-10-22 08:32:47:000

Oil prices havent changed much over the past week. Brent Crude fell slightly below $80 per barrel for the first time in a month and settled at $79.78 per barrel by the week-ending close on Friday. WTI also fell slightly below $70 per barrel for the first time since mid-September and se… read more...

Chinese Rally Not Providing Lift For Europe

via: SeekingAlpha at 2018-10-22 04:43:56:000

Surging stocks in China hasn't provided much of a catalyst for similar moves elsewhere at the start of the week, with local investors seeing recent comments from various officials as evidence that the private sector will be protected, despite heightened risk from a trade war with the US. Pre… read more...

Saudis rule out oil embargo replay

via: SeekingAlpha at 2018-10-22 03:50:06:000

"There is no intention" of unleashing a 1973-style oil embargo, Saudi Arabian Energy Minister Khalid al-Falih told Russia's TASS news agency amid a worsening crisis over the killing of Saudi journalist Jamal Khashoggi. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil … read more...

Desperately Seeking Stability

via: SeekingAlpha at 2018-10-21 10:38:30:000

By Stephen Innes From sandstorms in Riyadh to headwinds in Rome, escalating risk has effectively capped the recent swell in US Treasury yields, while the combination of Federal Reserve policy tightening and increasing debt supply should keep the trapdoor from giving way. But nonetheless, m… read more...

This Week In Money - October 20, 2018

via: SeekingAlpha at 2018-10-21 01:59:24:000

Ross Clark Gold, Crude. Gerald Celente China, Gold, Oil, Global Economy. Eric Hadik Market Cycles. Larry Reaugh President & CEO of American Manganese Jim Pettit President & CEO of Aben Resources Produced by Read… read more...

WTI Weekly: Balance Development Early Week Before Selling Interest Drove Price Lower To 68.53s

via: SeekingAlpha at 2018-10-20 09:43:25:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 14-19 October 2018: As noted in last weeks WTI Weekly , the development of key demand, 70.51s-70.75s, in last weeks auction provided structural indicat… read more...

S&P 500 Weekly Update: The Bull Market Is Over. At Least That Is What We Are Being Told

via: SeekingAlpha at 2018-10-20 06:23:15:000

"Patience is not just about waiting for something it's about how you wait, or your attitude while waiting." - Joyce Meyer Everybody is worried about everything. Maybe they should be. After all many are now unequivocally stating that the cycle is over; the market TOP is in. We a… read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Oct. 19, 2018

via: SeekingAlpha at 2018-10-19 19:03:00:000

Welcome to the latest edition of the Energy Recap. Let's get right to this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energ… read more...

Oil To Go Up As Iran Plays Turkey-U.S.-Saudi Split

via: SeekingAlpha at 2018-10-19 16:46:55:000

Background Saudi Arabia relies on its American-made military hardware to assert its military power in the Middle East and its main opponent in the region is Iran. The rivalry between these two large, well-armed, petroleum producing nations takes roots in religious conflict. This rivalry is… read more...

U.S. total rig count rises by 4 in latest Baker Hughes survey

via: SeekingAlpha at 2018-10-19 13:19:14:000

The total count of active U.S. drilling rigs adds 4 to 1,067 after surging by 11 last week, Baker Hughes says in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks new… read more...

Viola: We're In A Post-Peak Demand Period For Oil

via: SeekingAlpha at 2018-10-19 05:36:31:000

By Evan Peterson When Vincent Viola began his career as a trader in 1982 at the New York Mercantile Exchange, news swirled around a global "supply glut" that might destabilize crude oil prices. When we talked with him late last year, there was news of another oil glut. In both scenari… read more...

Brazil Reserves And Production Update, H1 2018

via: SeekingAlpha at 2018-10-19 05:14:42:000

By George Kaplan Brazil C&C Production Brazil and Petrobras (PBR) show something in common with US LTO: even with a lot of debt and desire, and a strong resource base, it is difficult to raise production in the face of high decline rates. It may also be a lesson for the world as oil … read more...

U.S. crude slides to five-week low; OPEC sees oil prices continuing lower

via: SeekingAlpha at 2018-10-18 15:42:25:000

WTI crude oil settles -1.6% to a five-week low $68.65/bbl, notching a two-day loss of 4.5% following data showing a fourth straight weekly increase in U.S. crude inventories ; Brent -0.6% at $79.58/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF… read more...

OIL Weekly: Is It Time To Sell The Rips?

via: SeekingAlpha at 2018-10-18 10:23:29:000

Introduction Welcome to my Oil Weekly report. In this brief report, I wish to discuss my views on oil markets and the iPath S&P Oil Total Return Index Exchange-Traded Notes ( OIL ). OIL replicates the performance of its sub-index, the S&P GSCI Crude Oil Total Return Index, … read more...

Commentary On The WTI-WCS Spread

via: SeekingAlpha at 2018-10-18 06:42:46:000

Canada produced 4.2 million barrels of crude oil per day on average last year, 3.3 million barrels of which were exported on a daily basis. Oil sands operators represented 64%, or 2.7 million bpd, of that crude output. Roughly 45% of oil sands output is from mining operations (scooping eno… read more...

Oil Markets: Amidst Uncertainty, The Truth Lies

via: SeekingAlpha at 2018-10-18 06:18:53:000

Right now, more than at any other point in probably several months, the oil markets and investors involved in them appear to be conflicted. Since OPEC and select non-OPEC nations decided to focus on reducing the global oil glut, prices have risen and inventories have soared, but now, in light … read more...

Bearish U.S. Oil Inventory Data: More Than Meets The Eye

via: SeekingAlpha at 2018-10-18 02:48:27:000

( We recently updated our oil thesis and Q3 results which can be found here, and provides additional background on our oil thesis. ) Its a simple equation. Supply and demand. For the US weekly petroleum supply report, the WPSR, its effectively this (reported for the wee… read more...

Crude oil prices slide as U.S. crude stockpiles rise for fourth straight week

via: SeekingAlpha at 2018-10-17 12:22:25:000

Crude oil prices tumble to their lowest level in nearly a month, with U.S. WTI edging below $70/bbl for the first time since Sept. 21 after domestic crude stockpiles rose last week by a larger than expected 6.5M barrels:WTI -2.8% to $69.91/bbl, Brent -1.8% to $79.93/bbl. Mor… read more...

Increasing Tensions, Increasing Flows

via: SeekingAlpha at 2018-10-17 12:05:48:000

I was on CNBC Asia on Sunday evening as oil prices jumped higher, discussing how the disappearance of Jamal Khashoggi was unlikely to impact energy flows between the U.S. and Saudi Arabia. Saudi Arabia is the second largest supplier of crude to the U.S., with only Canada sending more. Even a… read more...

The Next Oil Boom: Excitement About Alaskan Crude Builds

via: SeekingAlpha at 2018-10-17 11:55:52:000

By Scott Bauer At a glance Untapped oil deposits and new technology could result in a massive production increase in the Last Frontier. Once a major producer and cog of economic growth, Alaska now accounts for only a small fraction of total U.S. crude oil output. Alaskan oil producti… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-10-17 10:30:39:000

EIA Petroleum Inventories : Crude +6.5M barrels vs. +1.6M consensus, +6.0M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Stocks on the move, Top stock market news, Energ… read more...

The GERM Report

via: SeekingAlpha at 2018-10-17 06:39:12:000

Risk level: Orange - High RED: Severe (+/- 4%) ORANGE: High (+/- 2%) YELLOW: Elevated (+/- 1%) BLUE: Guarded (+/- %) THE BOOSTER SHOT "Washington will stab its own economy to death" if it sanctions Riyadh. Power is the ability to control outcomes. US oil p… read more...

Crude Tankers - Crude Prices, Inventories, And The 2020 Sulfur Cap

via: SeekingAlpha at 2018-10-17 05:12:52:000

Note: This article was originally published August 30th on Value Investor's Edge , a Seeking Alpha subscription service. Overview In the last full crude tanker supply side outlook , we predicted a "bad" 2017 with "a major hangover for 2018." Unfortunately, that proved to be t… read more...

U.S. crude supply fell 2.13M barrels last week, API says

via: SeekingAlpha at 2018-10-16 17:05:30:000

The American Petroleum Institute reportedly shows a draw of 2.13M barrels of oil for the week ending Oct. 12, vs. a build of 9.75M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, … read more...

2019 Oil Market Prospects: End Of Iran Sanctions, NOPEC Breaks OPEC

via: SeekingAlpha at 2018-10-16 08:27:48:000

Articles speculating on $100+ oil may soon become relics in 2019. Theres a good chance that the U.S. and Iran will reach an agreement on additional provisions to the nuclear deal, thereby allowing sanctions to be lifted and Irans oil to flow back into the market. And such an ev… read more...

WCS And Edmonton Mixed Sweet Discounts To WTI: Darkest Before Dawn

via: SeekingAlpha at 2018-10-16 06:39:47:000

Both WTI and the United States Oil Fund ( USO ) associated with it hit 2-year highs a few days ago reaching $76/bbl and $16/share respectively. In contrast, the Canadian energy sector must be experiencing its darkest days. Last Friday, oil prices in Canada both for heavy oil and light oil pl… read more...

Crude Oil: Only A Small Bounce Is Due

via: SeekingAlpha at 2018-10-15 21:12:57:000

The two main asset classes in our portfolio are equities and precious metals. We believe in diversification in the respect that we aim to align ourselves with the main trends in each of the other asset classes. Crude oil ( USO ) is an asset class that has really made the news recently - and wi… read more...

Why Cartel-Like Price Control Is Hardly Possible In Offshore Drilling

via: SeekingAlpha at 2018-10-15 20:16:31:000

In my recent article on the offshore drilling industry titled How Fragmented Is The Offshore Drilling Industry? I highlighted the fact that the industry remained highly fragmented despite the recent moves like Transocean's ( RIG ) purchase of Ocean Rig ( ORIG ) or the merg… read more...

Weekly Energy Recap: Uncaged Bears See Oil Prices Make Fast Retreat

via: SeekingAlpha at 2018-10-15 13:56:58:000

Oil prices and stock markets went into a steep decline over the past week, as international organizations warned of growing signs of weakness in the global economy. Midweek, the bears were uncaged, and Brent crude fell $5 per barrel. But stability prevailed by the end of the week. Brent star… read more...

Global Oil Market Fundamentals Remain Tight

via: SeekingAlpha at 2018-10-15 12:14:12:000

Welcome to the still tight edition of Oil Markets Daily! Global oil markets remain tight with global demand now increasing back up following a swoon in September. By our estimate, global balance is on track to be in the steep deficit this month thanks to much higher crude imports from Ch… read more...

Crude oil price little changed by surging U.S.-Saudi tensions

via: SeekingAlpha at 2018-10-15 09:36:53:000

Crude oil prices rise only modestly amid rapidly escalating tensions between the U.S. and Saudi Arabia over the disappearance and alleged murder of Washington Post columnist Jamal Khashoggi at the Saudi consulate in Istanbul; U.S. WTI +0.3% to $71.58/bbl, Brent +0.3% to $80.68/bbl. M… read more...

Oil Sags And The Market Gags

via: SeekingAlpha at 2018-10-15 08:54:03:000

Global oil prices were widely projected to increase sharply with the Trump administrations abrupt pullout from the 5-nation 2015 Iranian nuclear pact this past May. Surprisingly, Brent futures (blue line) moved to the downside, falling just over 8% through mid-June. Brent futures pus… read more...

The Strait Of Hormuz - A Presentation To The Traders4ACause Conference

via: SeekingAlpha at 2018-10-15 06:15:00:000

On Saturday, Oct. 13, I made a presentation at the Traders4ACause conference at the Cosmopolitan Hotel in Las Vegas, Nevada. The organization does excellent work providing funds for many charities. George Moriarty put me in touch with Traders4ACause, and I would like to express my thanks for t… read more...

Rethinking It

via: SeekingAlpha at 2018-10-15 04:59:19:000

Risk sentiment stabilised primarily on the back of reports that the Treasury Department will not recommend China be labelled a currency manipulator, along with headlines that Trump and Xi will meet on trade seem to be enough reason for the equity sell-off to cool. But indeed never has so much… read more...

Saudi tensions weigh on futures, spark oil price warning

via: SeekingAlpha at 2018-10-15 04:53:04:000

U.S. stock index futures are following Asia and Europe into the red as risk-off sentiment pervades amid increasing tensions between Riyadh and Washington. Dow -0.7% ; S&P 500 -0.7% ; Nasdaq -1.1% . More news on: SPDR S&P 500 Trust ETF, Invesco QQQ ETF, SPDR Dow Jones Industrial … read more...

Weekly High Frequency Indicators: Is A Summer 2019 Slowdown Beginning To Show Up In The Short Leading Forecast?

via: SeekingAlpha at 2018-10-13 05:03:56:000

Purpose I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to "mark y… read more...

Weekly High Frequency Indicators: Is A Summer 2019 Slowdown Beginning To Show Up In The Short Leading Forecast?

via: SeekingAlpha at 2018-10-13 05:03:56:000

Purpose I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to "mark y… read more...

Open Square Fund Q3 2018 Letter: Drops Of Realization

via: SeekingAlpha at 2018-10-13 00:30:48:000

As always, we welcome your comments. If you would like to read more of our articles, please be sure to hit the "Follow" button Read more … read more...

Open Square Fund Q3 2018 Letter: Drops Of Realization

via: SeekingAlpha at 2018-10-13 00:30:48:000

As always, we welcome your comments. If you would like to read more of our articles, please be sure to hit the "Follow" button Read more … read more...

WTI Weekly: Key Supply Holds Before Sell-Side Breakdown Develops To 70.51s

via: SeekingAlpha at 2018-10-13 00:23:17:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 07-12 October 2018: As noted in last weeks WTI Weekly , the development of sell excess, 76.90s-76.46s, amidst a failed buy-side breakout in last weeks … read more...

WTI Weekly: Key Supply Holds Before Sell-Side Breakdown Develops To 70.51s

via: SeekingAlpha at 2018-10-13 00:23:17:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 07-12 October 2018: As noted in last weeks WTI Weekly , the development of sell excess, 76.90s-76.46s, amidst a failed buy-side breakout in last weeks … read more...

Energy Recap: Quick Hits - Energy News For The Week Ended Oct. 12, 2018

via: SeekingAlpha at 2018-10-12 19:03:00:000

Welcome to the latest edition of the Energy Recap. Let's get right to this week's "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments section below. Quick Hits - Energ… read more...

U.S. total rig count rises by 11, Baker Hughes survey says

via: SeekingAlpha at 2018-10-12 13:17:27:000

The count of total active rigs in the U.S. surged by 11 to 1,063 after falling by 2 last week, according to the latest Baker Hughes weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy st… read more...

Geopolitical Risks Could Launch Oil Prices To $130 Per Barrel

via: SeekingAlpha at 2018-10-12 12:20:36:000

The perfect petro-storm is rapidly brewing as a result of production inaction by OPEC and Russian oil producers with a high level of risk that near simultaneous supply disruptions can take place. It's a scenario that may result in an inexorable surge past the $100/bbl tripwire to as high as $1… read more...

Oil prices edge higher after two-day drubbing; IEA sees weaker demand

via: SeekingAlpha at 2018-10-12 11:22:10:000

Crude oil ticks higher , stabilizing after two days of steep declines, although weaker demand forecasts weigh on prices: U.S. WTI +0.6% at $71.39/bbl, Brent +0.1% at $80.33/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil T… read more...

IEA: 'Expensive energy is back'

via: SeekingAlpha at 2018-10-12 04:33:52:000

"Our position is that expensive energy is back… And it poses a threat to economic growth," the IEA wrote in its closely-watched monthly report. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, News on ETFs, E... read more...

OPEC September Production Data

via: SeekingAlpha at 2018-10-12 01:45:42:000

The below charts were created with data from the OPEC Monthly Oil Market Report and the data through September 2018. OPEC crude only was up 132,000 barrels per day in September to 32,761,000 bpd. That is still 650,000 barrels per day below their all-time high in October of 2016. August p… read more...

U.S. crude oil tumbles 3% amid risk-off posture, rising stockpiles

via: SeekingAlpha at 2018-10-11 15:47:58:000

Oil prices settled at more than two-week lows as global stock markets fell, with investor sentiment made more bearish by a bigger than expected build in U.S. crude inventories. More news on: Exxon Mobil Corporation, Chevron Corporation, BP p.l.c., Energy stocks news, Commodities news, S… read more...

Crude inventories rise 6M in the last week

via: SeekingAlpha at 2018-10-11 11:23:18:000

EIA Petroleum Inventories : Crude +5.98M barrels vs. +2.6M consensus, +7.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Top stock market news, Stocks on the move, Ener… read more...

OPEC cuts global oil demand growth outlook, worried about glut next year

via: SeekingAlpha at 2018-10-11 10:30:33:000

OPEC again cuts its forecast of global oil demand growth for 2018 and 2019, citing headwinds facing the broader economy. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commodities news, Top … read more...

The Price Action In The Brent-WTI Spread As The Nov. 4 Deadline Looms

via: SeekingAlpha at 2018-10-11 06:15:00:000

Many commodities prices have experienced price declined over recent weeks and months. The price of gold fell from $1365.40 in April to lows of $1161.70 in mid-August and has only managed to recover to the $1200 level over recent weeks. Copper, the red metal that is a barometer for the commodit… read more...

U.S. Crude Oil Exports To China Zero Out

via: SeekingAlpha at 2018-10-11 04:20:40:000

It wasn't just U.S. soybean exports that encountered some serious shenanigans in August 2018 as part of China's trade war strategy with the United States. International U.S. trade data indicates that U.S. crude oil exports to China also collapsed during the month. In this case, all the w… read more...

Hurricane Michael cuts 42% of U.S. Gulf of Mexico crude oil output

via: SeekingAlpha at 2018-10-10 16:55:44:000

Hurricane Michael has knocked out 42% of U.S. Gulf of Mexico daily crude oil production and nearly a third of natural gas production, the largest reductions in a year, according to the Bureau of Safety and Environmental Enforcement. More news on: Anadarko Petroleum Corporation, BHP Bill… read more...

U.S. crude supply rose 9.75M barrels last week, API says

via: SeekingAlpha at 2018-10-10 16:44:32:000

The American Petroleum Institute reportedly shows a build of 9.75M barrels of oil for the week ending Oct. 5, vs. a build of 907K barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Ene… read more...

Crude prices plunge as U.S. inventory data expected to keep climbing

via: SeekingAlpha at 2018-10-10 11:25:47:000

Crude oil prices turn sharply lower on expectations that upcoming data will show a third straight weekly increase in U.S. crude oil inventories and after the IMF cut its global economic growth forecasts; U.S. WTI -2.3% at $73.22/bbl, Brent -1.9% at $83.41/bbl. More news on: The Unit… read more...

The Parrot And Commodity Prices

via: SeekingAlpha at 2018-10-10 08:46:54:000

Teach a parrot the terms supply and demand and youve got an economist. That parrot can explain to us what is happening with commodity prices (Chart 1, left side). That is, while agricultural and industrial metal prices - particularly copper - plummeted… read more...

A Potholed Encumbered Landscape

via: SeekingAlpha at 2018-10-10 03:22:05:000

By Stephen Innes Market sentiment: risky business US politics is back in forefront Tuesday, adding more spice and another air of unpredictability to the mix as markets continued their tenuous voyage through a potholed encumbered landscape, dealing with the fragile US-China relations bo… read more...

We Could See $100 Oil Again Soon, But Not For The Reason You Think

via: SeekingAlpha at 2018-10-10 00:50:33:000

According to a recent Cornerstone Macro report, the three most influential macro trends this year have been 1) the strengthening U.S. dollar, 2) the flattening yield curve and 3) slowing global manufacturing expansion. Ive written about all three topics numerous times this year, but th… read more...

Crude oil gains as Iran's falling oil shipments, hurricane raise concerns

via: SeekingAlpha at 2018-10-09 16:16:06:000

Crude oil prices climbed on concerns over declining supply from Iran and worries over potential risks to energy infrastructure as Hurricane Michael heads for the Gulf of Mexico. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Ret… read more...

Analyzing Bloomberg's Interview With The Crown Prince

via: SeekingAlpha at 2018-10-09 13:29:34:000

Over the past year, Crown Prince Mohammed bin Salman has given a number of interviews with international media to explain the changes happening in the Kingdom. One of the most viewed was an interview last March with the CBS news program, 60 Minutes. This was his first interview… read more...

Everyone Is Watching Iran, But Don't Forget About Venezuela

via: SeekingAlpha at 2018-10-09 09:30:00:000

Welcome to the don't forget about me edition of Oil Markets Daily! The consensus has materially flipped from "lower for longer" oil bear thesis to "oh my god, Iran will send oil to $100" in just less than 12 months. With the media attention increasingly focused on Iran and its potential … read more...

Noisy Markets

via: SeekingAlpha at 2018-10-09 03:40:04:000

By Stephen Innes The headline noise has been deafening and is showing few signs of abating. In Asia, focus will be squarely on equity sentiment even more with the yuan under pressure as US/China tensions are set to escalate this week. US Secretary of State Michael Pompeo cited "fundamental… read more...

WTI Weekly: Price Discovery Higher To 76.90s Where Selling Interest Halts The Buy-Side Auction

via: SeekingAlpha at 2018-10-08 21:11:33:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 30 September- 05 October 2018: As noted in last weeks WTI Weekly , given last weeks buy-side breakout and lack of sell excess, the likeliest near-term … read more...

Watch Out For Inflation: It Lurks Before It Spikes

via: SeekingAlpha at 2018-10-08 18:24:27:000

Investors once knew to fear inflation, but it hasnt been much of a factor for almost four decades neither in the global economy nor in many investors strategies. This has led to a degree of happy complacency for consumers, who dont like inflation because it mea… read more...

Weekly Energy Recap: Rising Oil Prices Creating Rumors And Fake News

via: SeekingAlpha at 2018-10-08 16:54:15:000

As anticipated, oil prices continued rising amid stronger demand. Prices reached levels not seen in four years. Brent crude rose to $84.16 per barrel. WTI rose to $74.34 per barrel. The Brent/WTI spread widened further to $9.82 per barrel. Bullish forecasts continue, with some analysts prepari… read more...

U.S. Oil Production Growth On Pace For New Heights By Year-End

via: SeekingAlpha at 2018-10-08 14:10:39:000

Welcome to the EIA 914 edition of Oil Markets Daily! EIA released July's US oil production and it jumped materially m-o-m to 10.964 million b/d. Total US oil production increased 269k b/d m-o-m. The Gulf of Mexico increased 189k b/d m-o-m. Texas increased 46k b/d m-o-m. North… read more...

The GERM Report

via: SeekingAlpha at 2018-10-08 12:38:38:000

Risk level: Orange - High RED: Severe (+/- 4%) ORANGE: High (+/- 2%) YELLOW: Elevated (+/- 1%) BLUE: Guarded (+/- %) The Booster Shot "If America wants stability, it will have to create it." Without a hegemonic power to lead the way, chaos ensues. Volatility in the… read more...

Markets Yield To Pressure?

via: SeekingAlpha at 2018-10-08 06:28:48:000

By Stephen Innes Not so far today as the markets have opened predictably quiet with Tokyo and New York celebrating their holidays. USDCNH is trading unpretentiously higher but the USD, in general, remain little-changed post-NFP. Strength in labour markets and with wage growth picking up, i… read more...

Oil dips as Iran maintains some exports

via: SeekingAlpha at 2018-10-08 05:44:14:000

Crude fell overnight as two companies in India, a big buyer of Iranian oil, confirmed 9M barrels ordered for November, suggesting Tehran's exports will keep flowing even after the U.S. reimposes sanctions. More news on: Saudi Aramco, The United States Oil ETF, LP, iPath S&P Crude Oil… read more...

Weekly Pricing Pulse: Iranian Crude Supply Drives Oil Prices To Multi-Year Highs

via: SeekingAlpha at 2018-10-07 08:06:38:000

Fear about too little supply has gripped oil markets recently and caused crude prices to surge 4.4% last week. Chemical prices moved in sympathy with oil and rose an even stronger 5.2%. Although more broadly commodity prices continue to be soft, the strength seen in the petro-chemical complex … read more...

Saudi Arabia's Incredibly Shrinking Inventories

via: SeekingAlpha at 2018-10-06 02:58:19:000

If you had any doubt as to Saudi Arabia's intentions about the oil market, this chart should put that to rest. This is based on the latest information from JODI (July) and shows Saudi Arabia's exports holding steady around 7M bpd but crude inventories falling to 220M barrels. Since Saudi Ara… read more...

WTI Daily 05 October 2018: Balance Trade Holds Sway Following The Pullback To 73.88s

via: SeekingAlpha at 2018-10-06 01:58:35:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 05 October 2018: As noted in Thursdays WTI Daily , the highest probability path for Fridays auction was for price discovery higher following Thursdays late b… read more...

Energy Recap: Quick Hits - News For The Week Ended Oct. 5, 2018

via: SeekingAlpha at 2018-10-05 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we're returning to our experiment of providing a few "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you think in the comments se… read more...

Commodities Recap For The Week Of October 5, 2018

via: SeekingAlpha at 2018-10-05 17:08:14:000

The story of this week: Crude Oil- Brent makes a new high and BNO soars While the prices of many commodities moved lower over the summer over the prospects of higher interest rates in the United States and a stronger dollar, the price of crude oil did not falter all that much. While th… read more...

U.S. total rig count slips by 2, says Baker Hughes survey

via: SeekingAlpha at 2018-10-05 13:11:31:000

The count of total active rigs in the U.S. falls by 2 to 1,052 after rising by 1 last week, Baker Hughes says in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks new… read more...

IEA: Plastic use driving oil demand to 2050

via: SeekingAlpha at 2018-10-05 04:52:02:000

Oil demand for transport is expected to slow by 2050 due to the rise of EVs and government efforts to cut carbon emissions, according to the IEA, but that will be offset by rising demand for plastics and other petrochemical products. More news on: LyondellBasell Industries N.V., DowDuPont … read more...

WTI Daily 04 October 2018: Failure Of Buyside Breakout Area, Pullback To 73.88s Within Prior Key Supply

via: SeekingAlpha at 2018-10-04 23:38:52:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 04 October 2018: As noted in Wednesdays WTI Daily , the highest probability path based on market structure for Thursdays auction was for challenge of the buy-side br… read more...

U.S. crude oil closes nearly 3% lower on concerns of rising inventories

via: SeekingAlpha at 2018-10-04 16:15:34:000

Crude oil prices pulled back sharply from four-year highs amid broader market selling and concerns that recently rising U.S. inventories will keep rising throughout the low-demand fall season. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crud… read more...

Breakout Alert: Can Oil Continue Surging?

via: SeekingAlpha at 2018-10-04 13:44:20:000

Once again, energy prices are surging higher and the United States Oil Fund ( USO ) is one of the primary beneficiaries of this trend. The rallies have prompted discussions which suggest that we would see oil moving back above $100 per barrel, which is an assertion that might have been conside… read more...

Crude rally halted as risk assets sell off

via: SeekingAlpha at 2018-10-04 13:13:00:000

WTI crude oil is down 2.2% to $74.75 today, joining a 2% decline in the Nasdaq and 1%+ drops in the S&P 500 and DJIA. More news on: Energy Select Sector SPDR ETF, The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks… read more...

Europe's big oil players reject EU effort to defy Trump sanctions on Iran

via: SeekingAlpha at 2018-10-04 12:57:23:000

Big European oil companies are snubbing efforts by the European Union to shield Iranian crude from U.S. sanctions, including Total ( TOT -0.8% ), whose CEO, Patrick Pouyann, says the company will not join EU efforts to bypass the sanctions. More news on: TOTAL S.A., ENI S.p.A., … read more...

Not All Oil Shocks Are The Same

via: SeekingAlpha at 2018-10-04 10:45:39:000

Original Post By Stuart Burns Drawing from an Economist article , there are at least two kinds of oil shock and they can have a distinctly different impact on the economics of the day. Arguably, what we have seen this last 18 months represents the first kind oil shock. We have adj… read more...

OIL Weekly: Spike Or Collapse?

via: SeekingAlpha at 2018-10-04 10:07:29:000

Introduction Welcome to my Oil Weekly report. In this short note, I wish to talk about my views on oil markets through the iPath S&P Oil Total Return Index ETN ( OIL ). As you may know, OIL replicates the performance of its sub-index the S&P GSCI Crude Oil Total Return In… read more...

Dollar Consolidates Gains While Yields Continue To Rise

via: SeekingAlpha at 2018-10-04 09:14:00:000

Overview: The US dollar is consolidating yesterday's gains against most of the major currencies, though the dollar bloc is underperforming. Bond yields are moving higher, and equities are lower. With a light data and events stream, the price action itself is the news. US yields: The ma… read more...

Why Has Saudi Aramco Moved To Partially Price Off The DME?

via: SeekingAlpha at 2018-10-04 09:13:14:000

This week, Saudi Aramco (ARMCO) begins implementing its new pricing policy to use a formula based on the Dubai Mercantile Exchange ((DME)) Oman as its official selling price ((OSP)) for shipments of sour crude to Asia. Since the mid-1980s, Saudi Aramco's price marker was the average of Platt… read more...

The GERM Report

via: SeekingAlpha at 2018-10-04 05:01:06:000

Originally published October 1, 2018 Risk level: Orange - High RED: Severe (+/- 4%) ORANGE: High (+/- 2%) YELLOW: Elevated (+/- 1%) BLUE: Guarded (+/- %) THE BOOSTER SHOT Oil markets continue to tighten ahead of US sanctions on Iran. Reconfigured North American tra… read more...

No Stopping The U.S. Dollar Runaway Train At The Moment

via: SeekingAlpha at 2018-10-04 04:13:44:000

By Stephen Innes US Markets The US dollar is on a rampage as awe-inspiring beat on both the ADP and ISM services index combined with very supportive Fed speak sent the US dollar soaring. Just another risk on the day for US market's despite US bond yields surging. But look no further … read more...

U.S. crude oil shipments to China 'totally stopped,' shipping exec says

via: SeekingAlpha at 2018-10-03 18:55:52:000

U.S. crude oil shipments to China have totally stopped , the president of China Merchants Energy Shipping Co. tells Reuters, as the trade war between the countries takes a toll on what had been a fast growing businesses. More news on: The United States Oil ETF, LP, iPath S… read more...

Crude oil maintains upward march despite largest U.S. build in 19 months

via: SeekingAlpha at 2018-10-03 15:59:07:000

Crude oil prices rallied despite U.S. government data which revealed the biggest weekly build in U.S. crude stockpiles since March 2017 amid ongoing concerns about falling Iranian supply. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude O… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-10-03 10:30:47:000

EIA Petroleum Inventories : Crude +8.0M barrels vs. +2.0M consensus, +1.9M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Stocks on the move, News on ETFs, Top stock mark… read more...

Saudi Arabia says oil production hits record high

via: SeekingAlpha at 2018-10-03 08:07:26:000

Saudi energy minister al-Falih says his country's oil production has reached an all-time high 10.7M bbl/day, in an effort to compensate for the loss of Iranian barrels from U.S. sanctions. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Veloci… read more...

Euro, Sterling And Yen Stabilize, While Antipodean Currencies Extend Losses

via: SeekingAlpha at 2018-10-03 08:03:05:000

Overview: The US dollar is narrowly mixed against the major currencies. The dollar-bloc currencies are softer, with the Australian and New Zealand dollars pushed lower by poor data. The euro is posting corrective upticks after the $1.15 area held yesterday, and Italy may cut the budget defic… read more...

Escalating Ethane Prices And The Implications For MLPs And Midstream

via: SeekingAlpha at 2018-10-03 08:00:43:000

By Stacey Morris When you think of a commodity gaining over 60% in a matter of eight weeks, the story may read more like that of an agricultural product being plagued by some exotic beetle. In Texas, we were well aware of the price spike in limes in 2014 and the consequences for Texas st… read more...

Crude Oil: Iranian Flows Spook The Market

via: SeekingAlpha at 2018-10-03 07:21:59:000

By Warren Patterson, Commodities Strategist Falling Iranian exports have been the key driver for crude oil prices, whilst the lack of action from OPEC to counter falling Iranian supply has only added to the bullish sentiment. As a result of this, we expect prices to remain well supporte… read more...

Why Offshore Drilling Stocks Lag Oil, And Other Interesting Questions

via: SeekingAlpha at 2018-10-03 03:09:14:000

Recently, a number of interesting topics were discussed in the comments sections of my articles on offshore drilling dayrates Will Drillship Rates Rise Rapidly? , Will Drillship Rates Rise Rapidly? Part 2 and Heres What Transocean&#x… read more...

U.S. Markets Rescue Global Risk Sentiment Yet Again

via: SeekingAlpha at 2018-10-03 00:46:06:000

By Stephen Innes US Markets It seems we can rely on the US markets to bail out souring global risk sentiment again and again. But the question should be, how long can we expect this to continue? Almost like clockwork, the Dow Jones Industrial Average hit a record high on Tuesday, feedi… read more...

WTI Daily 02 October 2018: Minor Price Discovery Higher To 75.91s, Stopping Point Develops There

via: SeekingAlpha at 2018-10-02 23:21:32:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 02 October 2018: As noted in Mondays WTI Daily , the highest probability path based on market structure for Tuesdays auction was for price discovery higher based on … read more...

U.S. crude supply rose 907K barrels last week, API says

via: SeekingAlpha at 2018-10-02 17:00:15:000

The American Petroleum Institute reportedly shows a build of 907K barrels of oil for the week ending Sept. 28, vs. a build of 2.9M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, … read more...

It's The Oil, Stupid

via: SeekingAlpha at 2018-10-02 10:47:56:000

Late last month, I wrote something for you folks called " The Bond Selloff That Nobody Noticed ", which was a kind of sweeping effort to document the possible causes behind a Treasury ( TLT ) selloff that appeared to be gathering momentum. That post was written after a week that saw the "con… read more...

3 Crude Oil Events To Watch Before End Of Year

via: SeekingAlpha at 2018-10-02 08:20:30:000

By Bob Iaccino At a Glance The normal crude oil dynamics may not be the dominant factor in prices For at least the last 20 years, there have been two consistent periods of "seasonality" in which crude oil market trends could be somewhat predictable. The periods of February, March and… read more...

Oil's The Word

via: SeekingAlpha at 2018-10-02 04:14:22:000

By Stephen Innes Oil markets: Frenzied Action Oil has sprung another gusher overnight, and in roaring fashion clocked an eye-watering 3% surge. Brent has hit $85, while WTI has hit $75.40 - the highest levels in over four years. There haven't been any new significant near-term catalyst… read more...

Renewed interest for suing OPEC?

via: SeekingAlpha at 2018-10-02 03:43:34:000

With oil prices hitting fresh four-year highs, long-dormant proposals to allow the U.S. to sue OPEC nations are getting a fresh look by Congress. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, News on ETFs, Com… read more...

WTI Daily 01 October 2018: Globex Balance Within Friday's Upper Cluster, Buying Interest And Price Discovery Higher To 75.32s

via: SeekingAlpha at 2018-10-01 23:52:43:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 01 October 2018: As noted in Fridays WTI Daily , the highest probability path based on market structure for Mondays auction was for price discovery higher to challen… read more...

Energy names lead gains as oil surges to four-year high

via: SeekingAlpha at 2018-10-01 14:55:02:000

WTI crude oil has added nearly another 3% , now at $75.37 per barrel, its highest intraday level since 2014. USO +2.9% More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Top stock market news, Energy s… read more...

Weekly Energy Recap: Strong Demand Keeps Oil Prices Rising

via: SeekingAlpha at 2018-10-01 14:30:58:000

Oil prices continued their upward momentum and the price of Brent crude rose to $82.72 per barrel. This was the first weekly closing above $80 since October 2014. West Texas Intermediate hit $73.25 per barrel. The Brent/Dubai spread widened to $9.47 per barrel by the weeks closing on F… read more...

Oil Update - September 2018

via: SeekingAlpha at 2018-10-01 04:36:53:000

My expected oil price range for October West Texas Intermediate is slightly higher than it was for September, August, and July. I expect that WTI will range between $67.50 and $77.50 per barrel, an increase of $2.50 on the upper and lower range values. While oil prices might deviate from that … read more...

WTI Weekly 23-28 September 2018: Price Discovery Higher To 73.73s, Challenge Of Major Supply Underway

via: SeekingAlpha at 2018-10-01 00:26:21:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 23-28 September 2018: As noted in last weeks WTI Weekly , the development of potential sell excess, 71.80-71.40s, at/near key supply implied the highest prob… read more...

Gasoline Inventories At Record Levels For This Time Of Year

via: SeekingAlpha at 2018-09-29 14:31:59:000

Oil Market Speculation It is ironic that as oil markets are at multi-year highs and so are gasoline inventories for this time of year. But that is what you get in futures driven speculation in financial markets. We have gasoline prices both at the pump and in the futures market going up whil… read more...

Gasoline Inventories At Record Levels For This Time Of Year

via: SeekingAlpha at 2018-09-29 14:31:59:000

Oil Market Speculation It is ironic that as oil markets are at multi-year highs and so are gasoline inventories for this time of year. But that is what you get in futures driven speculation in financial markets. We have gasoline prices both at the pump and in the futures market going up whil… read more...

An Incredible End To Q3 Could Be An Even Bumpier Ride In Q4

via: SeekingAlpha at 2018-09-29 13:44:07:000

By Stephen Innes Well, that was an astonishing end to Q3 as we herald in what is certainly shaping up to be a bumpy ride in the markets for Q4. The eerily familiar themes will continue to dominate - US-China trade, NAFTA, Brexit and Italian budget - and will confront traders at every twist… read more...

An Incredible End To Q3 Could Be An Even Bumpier Ride In Q4

via: SeekingAlpha at 2018-09-29 13:44:07:000

By Stephen Innes Well, that was an astonishing end to Q3 as we herald in what is certainly shaping up to be a bumpy ride in the markets for Q4. The eerily familiar themes will continue to dominate - US-China trade, NAFTA, Brexit and Italian budget - and will confront traders at every twist… read more...

Weekly Wrap: Are Headwinds Mounting That Could Lead Investors To Question Growth Expectations?

via: SeekingAlpha at 2018-09-29 12:30:32:000

There are days where you feel like the world is just slapping you in the face. This week some of those dealing with a Senate hearing you have may vaguely heard about (ugh) are likely feeling that way as are, I suspect, Elon Musk fans and I still cannot even think about my wounded 49ers, but I … read more...

Weekly Wrap: Are Headwinds Mounting That Could Lead Investors To Question Growth Expectations?

via: SeekingAlpha at 2018-09-29 12:30:32:000

There are days where you feel like the world is just slapping you in the face. This week some of those dealing with a Senate hearing you have may vaguely heard about (ugh) are likely feeling that way as are, I suspect, Elon Musk fans and I still cannot even think about my wounded 49ers, but I … read more...

WTI Daily 28 September 2018: Buyside Breakout From Multi-Day Balance, Price Discovery Higher To 73.73s

via: SeekingAlpha at 2018-09-29 00:10:12:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 28 September 2018: As noted in Thursdays WTI Daily , the highest probability path based on market structure for Fridays auction was for price discovery higher to cha… read more...

WTI Daily 28 September 2018: Buyside Breakout From Multi-Day Balance, Price Discovery Higher To 73.73s

via: SeekingAlpha at 2018-09-29 00:10:12:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 28 September 2018: As noted in Thursdays WTI Daily , the highest probability path based on market structure for Fridays auction was for price discovery higher to cha… read more...

Energy Recap: New This Week - Tracking Energy IPOs

via: SeekingAlpha at 2018-09-28 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we're going to keep things brief and get right to the articles of note. Also, you'll see that we've added a section on energy sector IPOs; please let us know what you think about it (or anything else energy- or Recap-related) in the… read more...

U.S. total rig count rises by 1, says Baker Hughes survey

via: SeekingAlpha at 2018-09-28 13:20:44:000

The count of total active rigs in the U.S. gains 1 to 1,054 after falling by 2 last week, according to the latest Baker Hughes weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks … read more...

GoM Reserves And Production Update, H1 2018

via: SeekingAlpha at 2018-09-28 02:56:49:000

A Guest Post by George Kaplan Crude and Condensate Reserves BOEM remaining C&C reserve estimates for GoM increased by 649 mmbbls for 2016 (i.e., to 31 st December 2016). This was 112% reserve replacement and followed a similar growth of 618 mmbbls (111% reserve replacement) for 20… read more...

Greenback Firms

via: SeekingAlpha at 2018-09-27 20:23:25:000

Overview: The US dollar is firmer against all the major currencies and most emerging market currencies, extending the recovery seen after the Federal Reserve's rate hike. Despite the poor finish for US equities yesterday, and declines in Japanese and Chinese shares today, the MSCI Asia Pacif… read more...

WTI Daily 26Sep18: Balance Development Unfolds Following Tuesday's Stopping Point High

via: SeekingAlpha at 2018-09-27 13:02:55:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 26 September 2018: As noted in Tuesdays WTI Daily , the highest probability path based on market structure for Wednesdays auction was for balance development followi… read more...

Weekly Oil Storage Report - Refinery Turnaround Season Underway

via: SeekingAlpha at 2018-09-27 09:30:00:000

Welcome to the Weekly Oil Storage Report Edition of Oil Markets Daily! Highlight EIA reported a mixed oil storage report Wednesday. We are now seeing implied product demand seasonally decline and the crude storage build of 1.852 million bbls came on the back of a material decrease in r… read more...

Crude Quality And Trade

via: SeekingAlpha at 2018-09-27 07:59:08:000

Originally posted on September 19, 2018 The lifting of the US crude oil export ban in late 2015 has resulted in a growing role for US exporters in global markets. The light crudes, condensates, and natural gas liquids (NGLs) produced with unconventional development techniques have saturate… read more...

BNO Is An Alternative To Position For A Spike To The Upside In Crude Oil On The Back Of Iran

via: SeekingAlpha at 2018-09-27 06:00:00:000

Last weekend, at an unofficial meeting of the international oil cartel in Algeria, Russia and Saudi Arabia defied U.S. President Donald Trump when they said that customer demand would drive any production increases. Before the OPEC member convened, President Trump sent the following tweet on S… read more...

U.S. not considering SPR release ahead of Iran sanctions, Perry says

via: SeekingAlpha at 2018-09-26 18:17:19:000

The Trump administration is not considering releasing oil from the Strategic Petroleum Reserve to reduce the impact of coming U.S. sanctions on Iranian crude oil exports, Energy Secretary Perry says. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index … read more...

WTI Daily 25Sep18: Minor Buyside Continuation To 72.78s Within Major Supply; Selling Interest Halts Buyside Auction

via: SeekingAlpha at 2018-09-26 15:04:59:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 25 September 2018: As noted in Mondays WTI Daily , the highest probability path based on market structure for Tuesdays auction was for buy-side continuation, provide… read more...

Losses in energy stocks led by drilling servicers, frac sand suppliers

via: SeekingAlpha at 2018-09-26 14:33:14:000

Oil and gas stocks are pulling back after two days of strong gains, as Brent crude -0.7% to $81.29/bbl after rising yesterday to its highest since November 2014 and WTI -0.9% to $71.59 after closing at their highest level since July 11. More news on: Pioneer Energy Services, Basic En… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-09-26 10:31:25:000

EIA Petroleum Inventories: Crude + 1.9 M barrels vs. -1.3M consensus, -2.1M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Energy stocks news, News on ETFs, Stocks on th… read more...

Is Oil Heading For $100/Barrel?

via: SeekingAlpha at 2018-09-26 07:47:28:000

Original Post By Stuart Burns Oil prices have been quietly rising for the last six weeks. The Brent crude benchmark has now breached the U.S. $80/barrel level to $81.20 this week, a level not seen since late 2014 , the Financial Times reports. In the U.S., ample shale oil suppl… read more...

OPEC Headlines The Gift That Keeps On Giving To Call Sellers

via: SeekingAlpha at 2018-09-26 05:27:10:000

OPEC is back in the news, crude oil is back in the $70s and the talking heads are again predicting $100 oil. So what's new? I've been hearing this OPEC argument for a year now and it has had little effect other than to bump oil prices $5-$10 one way or the other. As a crude oil trader, I w… read more...

Crude oil prices trickle higher

via: SeekingAlpha at 2018-09-26 04:53:57:000

Crude oil prices are on watch after the U.S. said it would ensure crude markets are well supplied before sanctions are slapped back on Iran. The U.S. is due to apply sanctions on Iran oil exports on November 4. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Retu… read more...

U.S. crude supply rose 2.9M barrels last week, API says

via: SeekingAlpha at 2018-09-25 16:45:32:000

The American Petroleum Institute reportedly shows a build of 2.9M barrels of oil for the week ending Sept. 21, vs. a build of 1.25M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN,… read more...

Oil prices extend gains amid 'perfect combination' of factors

via: SeekingAlpha at 2018-09-25 16:29:07:000

Oil prices continued their ascent , building on yesterday's large gains after OPEC and Russia said they planned to maintain their current production targets. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy… read more...

BP says oil spike may prove fleeting as U.S.-China trade not yet priced in

via: SeekingAlpha at 2018-09-25 12:59:13:000

The big oil price rally may be short-lived , according to Janet Kong, who heads BPs ( BP +2.6% ) Asia trading business, comments that stand in contrast to views from officials at oil trading firms Trafigura and Mercuria that see a looming supply crunch driving Brent crude to $10… read more...

Greenback Remains At The Fulcrum

via: SeekingAlpha at 2018-09-25 07:19:07:000

Overview The major currencies are mixed in quiet turnover. Most of the European currencies are firmer, while the dollar bloc currencies, yen and Swiss franc are softer. Emerging market currencies are steady to higher, though there are a few exceptions in Asia, where the Indonesian rupiah and… read more...

Headline Overload

via: SeekingAlpha at 2018-09-25 01:09:21:000

By Stephen Innes US Markets Another case of headline overload overnight. US markets closed lower overnight due to some factors including, trade war phase 2, more political turmoil ahead of US midterm after reports surfaced Attorney General Rod Rosenstein was resigning from his post a… read more...

WTI Daily 24Sep18: Friday's Sell Excess Filled, Price Discovery Higher To 72.74s Within Major Supply Overhead

via: SeekingAlpha at 2018-09-24 21:49:09:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 24 September 2018: As noted in Fridays WTI Daily , the highest probability path based on market structure for Mondays auction was for sell-side continuation, provide… read more...

Brent Breaks $80: The Oil Bull Thesis Enters The 7th Inning

via: SeekingAlpha at 2018-09-24 15:53:49:000

Welcome to the seventh inning edition of the Oil Markets Daily! Brent broke out above $80/bbl today following the OPEC and non-OPEC meeting over the weekend that signaled no production increase. For those of you who started the doubt the oil thesis, you can't blame us for not writing… read more...

Weekly Energy Recap: Saudi Arabia Seeks Stable, Not Soaring, Oil Prices

via: SeekingAlpha at 2018-09-24 14:39:31:000

Oil prices rose this week on continuing market tightness. With the price rise, some Saudi-bashing has begun. Bloomberg reported that increasing prices were due to Saudi Arabias comfort with Brent crude above $80 per barrel. Such analysis is hogwash. Due to market ti… read more...

Crude oil rallies to highs of the day; energy shares surging

via: SeekingAlpha at 2018-09-24 12:20:53:000

Crude oil climbs to highs of the day amid a tightening oil market and OPEC leaders signaling they would not raise production for now; Brent crude breaches $81/bbl for the first time in four years, +3% to $81.19/bbl, with WTI crude +2.4% to $72.48/bbl. More news on: Exxon Mobil Corp… read more...

Monday Market Movement - OPEC Blasts Oil Higher, China Walks From Trade Talks

via: SeekingAlpha at 2018-09-24 11:23:21:000

Move along folks, nothing to see here . Despite a run of bad news over the weekend, so far, the market indexes seem unphased by negative news reports. Of course it is the last week of the quarter and windows need to be dressed so we'll see what happens when October rolls in, along with Q3 e… read more...

WTI Weekly 16-21Sep 2018: Price Discovery To Key Supply, Sell Excess And Potential Stopping Point High

via: SeekingAlpha at 2018-09-24 10:08:51:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 16-21 September 2018: As noted in last weeks WTI Weekly , focus into this weeks auction centered on response to key demand area, 68.30s-68s, as buy-s… read more...

Crude Oil - A New Contract High As Inventories And Iran Prop Up Prices

via: SeekingAlpha at 2018-09-24 08:35:00:000

Last week, the NYMEX October futures contract rolled to November. The backwardation in the crude oil futures market means that deferred futures contracts trade at lower prices than nearby prices. Backwardation is a sign of tightness in a commodities futures market. When nearby prices rise abov… read more...

Brent crude spikes to fresh four-year high near $81/bbl

via: SeekingAlpha at 2018-09-24 05:17:31:000

Brent crude jumps to its highest in four years after the worlds biggest oil producers, led by Saudi Arabia and Russia, decided against further increases in production, despite calls from Pres.Trump for OPEC to lower prices. More news on: The United States Oil ETF, LP, Ener… read more...

Numerous Crosscurrents In Play

via: SeekingAlpha at 2018-09-24 04:26:12:000

By Stephen Innes US Equities On Friday, the Dow and S&P opened and closed again at fresh highs on massive volumes due to options expirations, and while headlines over the weekend suggested that trade talks between both US and China will be shelved until after the US midterm elections… read more...

Is Argonne Wrong About Gasoline Consumption Reduction By EVs In The United States During 2010-2017?

via: SeekingAlpha at 2018-09-24 01:16:47:000

The Argonne National Laboratory Study Published in January 2018, it was aimed at examining the impact of sales of plug-in electric vehicles (PEVs) on electricity consumption, petroleum reduction and battery production. In this contribution we will concentrate on the second factor onl… read more...

2 Investments To Make Now That Are Uncorrelated To Stocks

via: SeekingAlpha at 2018-09-22 04:17:16:000

Video Transcript September 2018 Podcast James Cordier and Michael Gross Michael : Hello everybody, this is Michael Gross of OptionSellers.com here for your September Podcast to go out September 21st, 2018. I'm here with James Cordier, head trader of OptionSellers.com. James, we… read more...

2 Investments To Make Now That Are Uncorrelated To Stocks

via: SeekingAlpha at 2018-09-22 04:17:16:000

Video Transcript September 2018 Podcast James Cordier and Michael Gross Michael : Hello everybody, this is Michael Gross of OptionSellers.com here for your September Podcast to go out September 21st, 2018. I'm here with James Cordier, head trader of OptionSellers.com. James, we… read more...

WTI Daily 21Sep18: Buying Interest During Globex From Key Demand, Range Extension Higher To 71.80s As Sell Excess Develops, 71.80s-71.40s

via: SeekingAlpha at 2018-09-22 00:17:35:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 21 September 2018: As noted in Thursdays WTI Daily , the highest probability path based on market structure for Fridays auction was for sell-side continuation, provi… read more...

WTI Daily 21Sep18: Buying Interest During Globex From Key Demand, Range Extension Higher To 71.80s As Sell Excess Develops, 71.80s-71.40s

via: SeekingAlpha at 2018-09-22 00:17:35:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 21 September 2018: As noted in Thursdays WTI Daily , the highest probability path based on market structure for Fridays auction was for sell-side continuation, provi… read more...

Energy Recap: Quick Hits - Energy News

via: SeekingAlpha at 2018-09-21 19:03:00:000

Welcome to the latest edition of the Energy Recap. Today, we've decided to experiment with this section of the Recap by providing a few "quick hits" from the energy sector - i.e., brief bits of recent news, along with some suggestions for further reading on each topic. Let us know what you thi… read more...

Crude oil posts back-to-back weekly gain ahead of weekend OPEC meeting

via: SeekingAlpha at 2018-09-21 16:19:54:000

U.S. crude oil prices gained ahead of the meeting of major oil producers in Algiers set to begin over the weekend, with November WTI settling +0.7% at $70.78/bbl, closing off its $71.80 high but marking a 2.6% weekly gain based on the most-active contract; Brent +0.1% to $78.80/bbl, ris… read more...

U.S. total rig count falls by 2, Baker Hughes survey says

via: SeekingAlpha at 2018-09-21 13:13:08:000

The count of total active rigs in the U.S. falls by 2 to 1,053 after rising by last week, according to the latest weekly report from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy st… read more...

WTI Daily 20Sep18: Buyside Continuation To Key Supply Overhead, Selling Interest To Key Demand

via: SeekingAlpha at 2018-09-20 22:52:23:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 20 September 2018: As noted in Wednesdays WTI Daily , the highest probability path for Thursdays auction based on market structure was for price discovery higher. Ou… read more...

Crude prices slip after Trump Twitter warning to OPEC

via: SeekingAlpha at 2018-09-20 16:22:11:000

Oil prices settled modestly lower after Pres. Trump called on OPEC to "get prices down now!" ahead of an upcoming meeting of the cartel and other major oil exporters including Russia, but many traders and analysts expect Brent crude to move past $80/bbl soon . More news on: The United … read more...

Weekly Oil Storage Report: Stellar Demand Will Push Product Storage Lower

via: SeekingAlpha at 2018-09-20 09:30:00:000

Welcome to the Weekly Oil Storage report edition of Oil Markets Daily! Highlight This week's report was bullish across the board with crude storage declining 2.057 million bbls. Total petroleum product exports rebounded back to the 2018 average this week, while product imports remain h… read more...

Trump demands lower oil prices; crude actually slips a bit

via: SeekingAlpha at 2018-09-20 07:36:27:000

"The OPEC monopoly must get prices down now," tweets the president this morning. "We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices!" More news on: The United States Oil ETF, LP, iP… read more...

WTI Daily 19Sep18: Buyside Breakout Above Key Supply Post-EIA, Price Discovery Higher To 70.82s, An Unsecured High

via: SeekingAlpha at 2018-09-20 00:44:42:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 19 September 2018: As noted in Tuesdays WTI Daily , the highest probability path for Wednesdays auction based on market structure was for price discovery higher. Our… read more...

U.S. crude futures rise as crude stocks fall to lowest since early 2015

via: SeekingAlpha at 2018-09-19 11:47:37:000

U.S. crude oil futures tack on gains after U.S. government data revealed a fifth straight weekly decline in domestic crude inventories, which fell to their lowest level since February 2015: WTI +1.3% at $70.78/bbl, while Brent +0.3% at $79.27/bbl. More news on: The United Stat… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-09-19 10:31:03:000

EIA Petroleum Inventories : Crude -2.1M barrels vs. -2.7M consensus, -5.3M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Energy stocks news, News on ETFs, Stocks on the … read more...

Three Possible Global Oil Supply 'Surprises' That Could Cause Oil Bulls To Stampede

via: SeekingAlpha at 2018-09-19 05:57:34:000

The world is bracing for the second stage of U.S. sanctions to go into effect November 4 th , targeting Irans energy sector, petroleum-based transactions and transactions with Irans national bank. The Trump Administrations stated goal is to shut down all of Iran… read more...

Oil's Well That Ends Well

via: SeekingAlpha at 2018-09-19 05:17:44:000

You cannot invest in oil if you are extremely bearish on its long-term prospects. So if you do believe in free energy, $10/barrel oil and Oprah giving everyone a Tesla on her show, then energy investments are not for you. We, on the other hand, see the setup in oil very similar to 2002-2003, w… read more...

The Market Rose Through 2 Painful Historical Anniversaries

via: SeekingAlpha at 2018-09-19 04:43:01:000

Last week, the S&P 500 (SPY) rose every day of the week, closing up 1.16% despite two tragic anniversaries - the 9/11 observance and the 10th anniversary of the 2008 market crash. Like every 9/11 anniversary, I am relieved that there has not been another major terrorist attack on U.S. soil… read more...

WTI Daily Rewind 18Sep18: Price Discovery Higher To Key Resistance As Balance Continues Amidst October-November Liquidity Roll

via: SeekingAlpha at 2018-09-19 01:25:48:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 18 September 2018: As noted in Mondays WTI Daily , failure of the sell-side to drive price through key demand, 68.50s-68.35s, would negate any sell-side bias that had develo… read more...

The Morning After

via: SeekingAlpha at 2018-09-19 00:15:26:000

By Stephen Innes The US equity market has wholly shrugged off yesterday's back and forth on US-China trade, as the robust US economy continues to sway investors. However, when we look back at the 2018 stock market run, a lot of ink will be spilt about the benefits of US repatriation flows … read more...

Oil prices jump as threat of added geopolitical instability adds to uncertainty

via: SeekingAlpha at 2018-09-18 17:54:50:000

Nymex October crude oil jumped 1.4% to settle at $69.85/bbl while Brent crude closed 1.3% higher to $79.03/bbl after Russia blamed Israel for the loss of one of its reconnaissance planes shot down oversight by Syrian defense systems. More news on: The United States Oil ETF, LP, Energy S… read more...

U.S. crude supply rose 1.25M barrels last week, API says

via: SeekingAlpha at 2018-09-18 17:05:32:000

The American Petroleum Institute reportedly shows a build of 1.25M barrels of oil for the week ended Sep. 14, vs. a draw of 8.6M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, En… read more...

U.S. sanctions crippling Iran oil exports in big win for Trump policy

via: SeekingAlpha at 2018-09-18 11:22:11:000

With nearly 50 days still to go before new U.S. oil sanctions against Iran officially take effect, Pres. Trump already has managed to crush Irans oil exports , plunging ~35% to 1.6M bbl/day from 2.5M just since April. More news on: The United States Oil ETF, LP, iPath S&P Crud… read more...

Seeing The Forest For The Trees

via: SeekingAlpha at 2018-09-18 01:24:54:000

By Stephen Innes With trade war dominating the landscape, even more so after this morning's US tariff headline, it's easy to focus on markets from a one-dimensional perspective. But cross-asset trading is multidimensional and observing the more granular details can offer much-needed clarit… read more...

WTI Daily Rewind 17Sep18: Price Discovery Higher Into Friday's Resistance, Selling Interest There And Pullback To Key Demand Below Amidst Rotational Trade

via: SeekingAlpha at 2018-09-18 00:06:42:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 17 September 2018: As noted in Fridays WTI Daily , expectation for Mondays auction was for price discovery higher based on Fridays development of a buy exces… read more...

U.S. Shale Oil Production Set To Reach 10 Million B/D By 2020

via: SeekingAlpha at 2018-09-17 16:17:57:000

Welcome to the EIA DPR edition of Oil Markets Daily! EIA released its latest drilling productivity report today or known as DPR. There were two material changes in this DPR: Permian, Bakken, and Eagle Ford well productivity on a rolling 12-month basis continue to trend higher. Anad… read more...

U.S. Gasoline Glut Developing

via: SeekingAlpha at 2018-09-17 11:56:27:000

In my recent article , I showed how a large year-over-year gasoline stock surplus. The EIA reported that, for the week ending September 7th, U.S. gasoline stocks were in fact 17.6 million barrels higher than a year ago. My figures in that article were based on a 5-year average from 2012 to … read more...

Oil Inventories Bolster Prices

via: SeekingAlpha at 2018-09-17 07:15:00:000

The price of crude oil has been making higher lows and higher highs since June 2017 when the price found a bottom at $41.05 per barrel. The energy commodity had been rallying since February 2016 when it reached the lowest level since 2003 at $26.05 per barrel. At the most recent high at $75.27… read more...

Another $200 Billion In Tariffs Looks More Likely Than Not

via: SeekingAlpha at 2018-09-17 03:18:34:000

By Stephen Innes Happy to hear that markets in Hong Kong are expected to start trading on Monday after Mangkhut roared through the City. But more significantly friends and colleagues are all safe! Now for the nuts and bolts As many had suspected, despite Treasury Secretary Mnuchin'… read more...

WTI Weekly 09-14Sep 2018: Buyside Breakout Last Week's Demand Cluster, Sell Excess Within Prior Overhead Supply.

via: SeekingAlpha at 2018-09-16 23:14:49:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 09-14 September, 2018: Last weeks auction saw a sell-side phase which was halted with structural buy excess, 67s-66.86s. As noted in last weeks WTI Wee… read more...

WTI Daily Rewind 14Sep18: Price Discovery Lower From Key Supply, Pullback To Key Demand Below As Buying Interest Emerges There

via: SeekingAlpha at 2018-09-16 21:23:46:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 14 September 2018: As noted in Thursdays WTI Daily , expectation for Fridays auction was for buying interest within prior key demand and balance development. A faile… read more...

What Is Crude Oil's Future Path?

via: SeekingAlpha at 2018-09-16 20:17:11:000

In my last article , I was bullish on Brent Oil ( BNO ) and WTI Crude ( OIL ), as I expected them to have an upwards rally. This came true as Brent Oil ascended to the $79.71 mark, whilst WTI Crude reached the price target of $70.33. Hence, in this article, I will ascertain the possibility of… read more...

Examining Crowded Positioning In Precious Metals And Currencies

via: SeekingAlpha at 2018-09-15 06:54:01:000

Note: My approach for analyzing CoT data to reveal how different types of traders are positioned in the futures markets is outlined here . If you missed it, give the article a read to see the method behind my analysis. All data and images in this article come from my free website . Al… read more...

Examining Crowded Positioning In Precious Metals And Currencies

via: SeekingAlpha at 2018-09-15 06:54:01:000

Note: My approach for analyzing CoT data to reveal how different types of traders are positioned in the futures markets is outlined here . If you missed it, give the article a read to see the method behind my analysis. All data and images in this article come from my free website . Al… read more...

Energy Recap: Your Thoughts On Global Oil Production

via: SeekingAlpha at 2018-09-14 19:03:00:000

Welcome to the latest edition of the Energy Recap, the second one to appear here exclusively for PRO subscribers. For those of you who are new to the Recap, you can check out the archives here . We'd still like to get your thoughts on which topics the Recap should focus on going forward, so p… read more...

WTI Daily Rewind 13Sep18: Price Discovery Lower From Key Supply, Pullback To Key Demand Below

via: SeekingAlpha at 2018-09-14 16:24:54:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 13 September 2018: As noted in Wednesday's WTI Daily , structural sell excess developed within key supply, 71.25s-71s, indicating a halting of the buy-side auction. Price discovery … read more...

U.S. total rig count gains 7 in latest Baker Hughes survey

via: SeekingAlpha at 2018-09-14 13:21:54:000

The count of total active rigs in the U.S. rises by 7 to 1,055 after staying flat a week ago, Baker Hughes reports in its latest survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news,… read more...

Oil Has A Lot More Upside

via: SeekingAlpha at 2018-09-14 10:35:42:000

Whether people like it or not, theres a lot of evidence that suggests the oil market still has room to run. For several months now, prices have fluctuated for WTI mostly between $65 and $70, with brief periods dipping below or rising above those price points. New data out now, though… read more...

The Price Of Crude Oil Keeps Coming Back

via: SeekingAlpha at 2018-09-14 06:00:00:000

Crude oil is the most liquid commodity that trades on the futures market. While environmental concerns have increased the demand for alternative forms of energy, crude oil remains the primary commodity that powers the world. More than half the reserves of crude oil in the world reside in the… read more...

Why Iran's Project To Move Oil Exports To Bandar-E-Jask Is Just A Dream

via: SeekingAlpha at 2018-09-13 17:08:14:000

Iranian President Hassan Rouhani spoke last week of plans to relocate Iran's main oil export terminal from Kharg Island, deep in the Arabian Gulf, to Bandar-e-Jask in the Oman Sea. He claimed the move would be completed by 2021, the end of his term in office. The Iranian president's comments… read more...

Crude oil slides after IEA report shows OPEC supply surge

via: SeekingAlpha at 2018-09-13 12:11:00:000

Crude oil prices plunge , easing off their highest finish since July as an industry report showed global supplies at a record and Hurricane Florence weakened ahead of its expected landfall: WTI -2.4% to $68.63/bbl, Brent -1.9% to $78.20/bbl. More news on: The United States Oil ETF, L… read more...

Weekly Oil Storage Report - U.S. Crude Exports Set To Rocket Higher

via: SeekingAlpha at 2018-09-13 09:30:00:000

Welcome to the "rocket higher" edition of Oil Markets Daily. Highlight US crude storage fell more than we expected this week at -5.296 million bbls versus our forecast of around -4 million bbls. The big delta this week was the strong refinery throughput, which came in at 17.857 million b/d… read more...

IEA: 'Crucial period' for oil lies ahead

via: SeekingAlpha at 2018-09-13 04:27:45:000

Global oil supply was firing all cylinders in August, reaching a record 100M barrels per day, but output may be may be tested in coming months amid Iranian and Venezuelan fallout. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X… read more...

OPEC August Production Data

via: SeekingAlpha at 2018-09-13 01:56:32:000

Data for the OPEC charts below are from the OPEC Monthly Oil Market Report . All OPEC data are through August 2018 and in thousand barrels per day. OPEC 15 crude only production was up 278,000 barrels per day in August to 32,565,000 bpd. Most of that increase was Libya, up 256,000 bpd. … read more...

Why The U.S. Is Suddenly Buying A Lot More Saudi Oil

via: SeekingAlpha at 2018-09-12 23:31:29:000

For a few months now, OPEC has been boosting production to ease concerns about high oil prices amid expected supply losses from Venezuela and Iran. The cartels largest producer and exporter, Saudi Arabia, has been specifically targeting an increase in crude oil exports to the most … read more...

WTI Daily Rewind 12Sep18: Tuesday's Buy Spike Holds, Buyside Continuation To 71.26s Within Overhead Supply

via: SeekingAlpha at 2018-09-12 23:03:37:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 12 September 2018: As noted in Tuesdays WTI Daily , buy-side transition within micro-supply (68.50s-69.50s) implied potential for buy-side continuation toward key supply ove… read more...

Colonial Pipeline will not change fuel specs ahead of Hurricane Florence

via: SeekingAlpha at 2018-09-12 18:20:02:000

Colonial Pipeline, which moves gasoline and diesel from Houston through the southeast to Linden, N.J., says it does not expect to take full advantage of a government waiver aimed at ensuring adequate fuel supplies to the region. More news on: Royal Dutch Shell plc, Royal Dutch Shell plc,… read more...

Crude oil jumps on big drop in U.S. stockpiles, hurricane fears

via: SeekingAlpha at 2018-09-12 12:13:48:000

Crude oil futures are rallying in response to a sharp decline in U.S. crude stockpiles and uncertainty tied to the energy impact from Hurricane Florence. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy st… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-09-12 10:30:34:000

EIA Petroleum Inventories: Crude -5.3M barrels vs. -1.3M consensus, -4.3M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Energy stocks news, News on ETFs, Stocks on the … read more...

Does The Dollar Drive Oil Prices?

via: SeekingAlpha at 2018-09-12 10:29:46:000

Readers often ask me if the value of the dollar relative to other key global currencies is a major factor driving oil prices. The short answer: The dollar and the price of oil are correlated but its not as important as many investors, and pundits in the mainstream financial media, se… read more...

With The U.S. Exporting 20% Of Its Oil Production, What Midstream Companies Could Benefit?

via: SeekingAlpha at 2018-09-12 08:00:30:000

By Stacey Morris The US is on track to become the world's largest oil producer based on 2019 production forecasts from the Energy Information Administration ((EIA)). Moreover, the International Energy Agency ((IEA)) forecasts that the US will account for more than half of the worldwide… read more...

WTI Daily Rewind 11Sep18: Buying Interest Within Key Demand, Buyside Breakout And Price Discovery To Key Supply

via: SeekingAlpha at 2018-09-12 00:53:26:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 11 September 2018: As noted in Mondays WTI Daily , the response to Mondays micro-demand area, 67.40s-67s, was key as buying interest emerged there before a buy-side … read more...

U.S. crude supply fell 8.6M barrels last week, API says

via: SeekingAlpha at 2018-09-11 17:00:25:000

The American Petroleum Institute reportedly shows a draw of 8.64M barrels of oil for the week ended Sep. 7, vs. a draw of 1.17M barrels in the previous week; the latest draw would be the largest since early July if confirmed tomorrow by EIA data. More news on: The United States Oil ETF, … read more...

Crude oil prices rally, largely due to Hurricane Florence

via: SeekingAlpha at 2018-09-11 16:18:18:000

Crude oil futures rallied as powerful Hurricane Florence approaches the U.S. east coast, increasing demand for fuel and threatening the flow of gasoline through the Colonial Pipeline, the main line to move gasoline and diesel from Gulf Coast refineries northeast, running through states in… read more...

Oil prices up on Iranian sanction pressure

via: SeekingAlpha at 2018-09-11 05:44:31:000

Oil prices rise as U.S. sanctions put pressure on Iranian crude exports, tightening the global supply. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, News on ETFs, Read more … read more...

WTI Daily Rewind 10Sep18: Buyside Continuation To 68.52s Within Key Supply, Selling Interest There And Rotation To 67.33s Within Key Demand

via: SeekingAlpha at 2018-09-11 02:58:27:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 10 September 2018: As noted in Fridays WTI Daily , Fridays auction signaled a potential stopping point low development, 66.86s-67s, evident in the order flow and mar… read more...

Iran's Crude Exports Are About To Plunge - Will The Saudis Be Ready?

via: SeekingAlpha at 2018-09-10 13:16:27:000

Welcome to Iran's crude exports will what (?) edition of Oil Markets Daily! Irans crude exports are about to drop like a rock. There were some skeptics that Irans crude exports werent going to drop by much, but with August crude exports coming in just below ~2… read more...

Nat gas to pass oil as North America's 'single largest energy source,' firm says

via: SeekingAlpha at 2018-09-10 12:17:07:000

Oil will be overtaken by natural gas as North America's primary energy source this year and remain the dominant source until 2050, according to risk management firm DNV GL. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total … read more...

WTI Weekly 02-07Sep 2018: False Breakout From Prior Balance, Sell-Side Auction To 66.86s

via: SeekingAlpha at 2018-09-10 06:30:05:000

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. 02-07 September 2018: Last weeks auction saw a stopping point high develop, 70.50s, and balance development, 70.50s-69.53s, into the weeks close. As not… read more...

Gasoline Reflects Seasonal Factors

via: SeekingAlpha at 2018-09-10 06:30:00:000

Some commodities are highly sensitive to seasonal factors which impact supply and demand fundamentals. There are times of the year where consumption of a commodity increases or supplies decline because of the weather or other factors. In the natural gas market, the winter months from November … read more...

Crude Oil Rests In A Range

via: SeekingAlpha at 2018-09-10 06:15:00:000

The summer of 2018 was a rough time for many commodities as a bearish cocktail of a rising dollar, the prospects for increasing interest rates, and trade disputes that put raw materials on the front lines and distorted prices combined to send the prices of members of the asset class lower. T… read more...

WTI Daily Rewind 07Sep18: Retest Of Thursday's Low Results In Buy Response At Key Support

via: SeekingAlpha at 2018-09-08 06:47:33:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 07 September 2018: As noted in Thursdays WTI Daily , key support had developed at 67s as a structural buy excess formed amidst trapping of sellers in large size. These empir… read more...

WTI Daily Rewind 07Sep18: Retest Of Thursday's Low Results In Buy Response At Key Support

via: SeekingAlpha at 2018-09-08 06:47:33:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 07 September 2018: As noted in Thursdays WTI Daily , key support had developed at 67s as a structural buy excess formed amidst trapping of sellers in large size. These empir… read more...

Energy Recap: Welcome New Readers!

via: SeekingAlpha at 2018-09-07 19:03:00:000

Welcome to the latest edition of the Energy Recap, the first one to appear here exclusively for PRO/Essential subscribers. For those of you who are new to the Recap, it's a weekly energy-focused article that's been published on Seeking Alpha since December 2015. We've had a good deal of succes… read more...

U.S. total rig count flat at 1,048, Baker Hughes says

via: SeekingAlpha at 2018-09-07 13:25:21:000

The count of total active rigs in the U.S. remains flat at 1,048 after rising by 4 a week ago, Baker Hughes reports in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stoc… read more...

WTI Daily Rewind 06Sep18: Sellside Continuation Despite Larger Than Expected Inventory Draw

via: SeekingAlpha at 2018-09-06 23:44:33:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 06 September 2018: As noted in Wednesdays WTI Daily , the market had traded down into prior near-term key-demand cluster (69.30s-68.20s) as a structural unsecured low had de… read more...

Crude oil falls as latest data shows big jump in gasoline, distillates

via: SeekingAlpha at 2018-09-06 16:45:44:000

Crude oil futures slipped today after weekly U.S. data showed inventories of petroleum products already are starting to rise as summer draws to a close and the lower-demand fall season approaches: October WTI crude -1.4% at $67.77/bbl, Brent -1% to $76.50/bbl. More news on: The Unit… read more...

Oil Market Fundamentals: The Pullback Is Done, But A New High Will Take Time

via: SeekingAlpha at 2018-09-06 12:05:21:000

Author's note: Data in this article is accurate as of August 26, 2018, when this article was published for subscribers. WTI and Brent finished the week up 5.38% and 4.97% respectively. The Brent-WTI spread currently stands at $6.70/bbl and the difference is expected to keep widening over … read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-09-06 11:00:44:000

EIA Petroleum Inventories : Crude -4.3M barrels vs. -1.3M consensus, -2.6M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Energy stocks news, News on ETFs, Stocks on the … read more...

Crude Dollar Trade

via: SeekingAlpha at 2018-09-06 07:01:47:000

On November 7, 1973, President Richard Nixon addressed the nation via a broadcast television appearance. The topic wasn't what you might think. Rather than trying to reassure Americans about the unfolding Watergate scandal, Nixon instead attempted to encourage the country about its energy si… read more...

WTI Daily Rewind 05Sep18: Sellside Continuation To 68.59s Following Tuesday's Stopping Point High

via: SeekingAlpha at 2018-09-06 02:22:53:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 05 September 2018: As noted in Tuesdays WTI Daily , a structural sell spike developed during and after Tuesdays NY close, 69.85s-69.09s. Sell spikes function like un… read more...

EIA's Latest USA And World Oil Production Data

via: SeekingAlpha at 2018-09-06 01:28:13:000

These first charts are taken from the EIA's Monthly Crude Oil and Natural Gas Production . The data are through June 2018 and is in thousand barrels per day. US C+C production was up 231,000 barrels per day in June to 10,674,000 bpd, an all-time high. Texas was up 165,000 barrels per da… read more...

Oil: Will OPEC Give Up?

via: SeekingAlpha at 2018-09-05 22:29:21:000

I will start with the major changes that the last reports published by the OPEC and the IEA caused in the forecast of the global oil market structure. To understand the overall situation, I think it is useful to go over these numbers once again. First of all, it should be noted that the … read more...

U.S. crude supply fell 1.1M barrels last week, API says

via: SeekingAlpha at 2018-09-05 16:54:08:000

The American Petroleum Institute reportedly shows a draw of 1.17M barrels of oil for the week ended Aug. 31, vs. a build of just 38K barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN… read more...

Oil price drops most in three weeks as Gulf storm fears ease

via: SeekingAlpha at 2018-09-05 16:17:56:000

Crude oil prices fell by their biggest one-day percentage decline since mid-August after Tropical Storm Gordon made landfall at a weaker than expected strength , easing fears about potential disruptions of crude operations in the area: October WTI settled -1.7% at $68.72/bbl, Brent -1…. read more...

Saudi Arabia aims for crude at $70-$80

via: SeekingAlpha at 2018-09-05 06:28:10:000

Saudi Arabia wants oil to stay between $70 and $80 a barrel for now, according to OPEC and industry sources , as the world's biggest crude exporter strikes a balance between maximizing revenue and keeping a lid on prices until U.S. congressional elections. More news on: The United States … read more...

Is Ethanol A Buy?

via: SeekingAlpha at 2018-09-05 06:00:00:000

Ethanol is a biofuel. In the United States corn is the primary ingredient in the production of ethanol. For decades, the ethanol mandate means that each time we fill up our tanks with gasoline, we are consuming the corn-based fuel. Corn is not the only agricultural crop that can be an ingredie… read more...

Oil drops as Gulf storm threat eases

via: SeekingAlpha at 2018-09-05 03:58:01:000

Tropical Storm Gordon has made landfall just west of the Alabama-Mississippi border, but oil prices are partly reversing a strong jump from the previous day, when dozens of U.S. oil and gas platforms were shut in anticipation of the impending disruption. More news on: The United States Oil… read more...

WTI Daily Rewind 04Sep18: False Buyside Breakout Above Last Week's Balance

via: SeekingAlpha at 2018-09-05 01:53:27:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 04 September 2018: As noted in Fridays WTI Daily , last weeks buy-side phase reflected weakening strength in tick range, volume, and buy-side delta. Weakening of int… read more...

U.S. Oil Inventory Comparisons To Last Year About To Change Dramatically

via: SeekingAlpha at 2018-09-04 21:26:46:000

Tropical Storm Gordon is expected to hit the Gulf Coast tonight as a hurricane, but minimal oil industry impacts are expected. This contrasts with major hurricane effects during this time frame last year, when Hurricane Harvey hit the refining industry and then Hurricane Nate impacted oil prod… read more...

The Daily Drilling Report's Oilfield Almanac And Gazette: August Edition

via: SeekingAlpha at 2018-09-04 13:19:53:000

Introduction Oil has had a rocky road over the previous quarter, and extending into the present one. The extreme volatility is due primarily to a push and pull concerning the loss of significant quantities of Iranian oil from the market as sanctions begin to bite. In this article we recap ou… read more...

5 Charts To Consider For The Next Oil Price Move Direction

via: SeekingAlpha at 2018-09-04 12:43:25:000

A nice chart is better than a hundred words in my opinion and I listed here only my worthy ones. Feel comfortable to contradict with my takeaways from them. 1) Demand/Supply cycles Oil world supply has been above demand for 3-4 months before the end-June OPEC+ meeting and their following d… read more...

Oil's Goldilocks Price Range Summer Comes To An End

via: SeekingAlpha at 2018-09-04 12:38:20:000

The present Goldilocks oil price range this summer is averaging just under $70/bbl and has served most oil producers and consumers quite well. However, changes in the following variables may alter this balance considerably and feature a period of high volatility and possibly a sudden oil price… read more...

Oil jumps as Gulf rigs evacuated

via: SeekingAlpha at 2018-09-04 06:06:23:000

Oil prices rose sharply to start September, fueled by the evacuation of two Anadarko (NYSE: APC ) platforms in the Gulf of Mexico ahead of the approach of Hurricane Gordon, while ExxonMobil warned of a supply crunch in Nigeria. More news on: Anadarko Petroleum Corporation, The United S… read more...

The Biggest Threat To The Oil & Gas Industry

via: SeekingAlpha at 2018-09-03 20:08:57:000

Trumps trade war is taking a toll on the oil & gas industry. There has been some eleventh-hour drama over the renegotiation of NAFTA, but the energy industry is likely going to dodge a bullet on that front, with the most contentious issues revolving around agriculture and autom… read more...

Oil Production Vital Statistics September 2018

via: SeekingAlpha at 2018-09-03 11:40:57:000

Four months have passed since the last update in May 2018, and it is time to take a fresh look at the global oil market, especially in light of the unique OPEC+Russia+others deal coming to an effective end in July . This led to a predictable fall in the oil price, Brent losing >$6/bbl on t… read more...

4 Factors Point To A Higher Crude Oil Price

via: SeekingAlpha at 2018-09-03 07:00:00:000

The summer has been a bearish period for many commodities prices. The rise of the dollar, prospects for higher interest rates, and trade disputes weighed on the prices of most industrial raw material markets. Copper, the base metal that is a barometer for global economic growth and a leader in… read more...

The Summer Of Discontent Comes To An End In Commodities

via: SeekingAlpha at 2018-09-03 06:45:00:000

The summer season of 2018 will come to an official end after the Labor Day holiday weekend next week. The summer is often a time of the year when markets quiet down and volatility contracts. However, the summer of 2018 has been a period of torture for anyone with a bullish outlook for commodit… read more...

Could Oil 'Super-Spike' Above $150?

via: SeekingAlpha at 2018-09-02 11:11:35:000

In July, Pierre Andurands hedge fund, Andurand Capital, lost 15% on bullish crude oil bets. Oil was weak in July, but is up 21% in 2018. Notwithstanding this correct outlook, his fund is -5% for the year. Few things are more frustrating for a manager or his clients than losing money … read more...

This Week In Money - September 1, 2018

via: SeekingAlpha at 2018-09-02 01:21:21:000

Ross Clark - Canadian Dollar, NAFTA, Oil. Wolf Richter - Automotive Sector, Subprime Loans, Real Estate. Ed Steer - Gold, Silver, Gold Anti-Trust Action Committee. Larry Reaugh - President & CEO of American Manganese Inc. Jim Pettit - President & CEO of Ab… read more...

WTI Daily Rewind 31Aug18: Balance Development Following Stopping Point High, 70.50s

via: SeekingAlpha at 2018-09-01 01:06:32:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 31 August 2018: As noted in Thursdays WTI Daily , the trapping of buyers (evident in the order flow), that occurred into the Thus NY close resulted in price discover… read more...

Energy Recap: Renewable Energy News

via: SeekingAlpha at 2018-08-31 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we're leaving you with an abbreviated article ahead of the long weekend. However, we did want to take a moment to pass along some interesting energy-related news from Facebook ( FB ). The company recently announced that it plans t… read more...

U.S. Oil Production Hits New High But Disappoints Versus The Weekly

via: SeekingAlpha at 2018-08-31 17:47:10:000

Welcome to the EIA 914 edition of the Oil Markets Daily! EIA released its latest US monthly oil production figures today and June US oil production came in at 10.674 million b/d versus the EIA weekly estimate of 10.9 million b/d. This shows that US oil production was actually 226k b/d lo… read more...

Total U.S. rigs rise by 4, oil rigs up 2 in Baker Hughes survey

via: SeekingAlpha at 2018-08-31 13:24:19:000

The total U.S. rig count rose by 4 to 1,048 after falling by 13 last week, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Comm… read more...

Oil Update - August 2018

via: SeekingAlpha at 2018-08-31 10:42:09:000

My expectation for the West Texas Intermediate oil price for September is the same as it was for July and August, namely WTI will range between $65 and $75 per barrel. While it might deviate from that range for a few days, I expect that WTI prices will fall within that range for most of the mo… read more...

Investing Strategies And Opportunities: Stocks, Oil, And Currencies

via: SeekingAlpha at 2018-08-31 02:43:34:000

Trade, fiscal stimulus and monetary policy normalization have some investors worried about the future of their portfolios. Kurt Reiman, Chief Investment Strategist, BlackRock Canada , talks to Sara D'Elia about his economic outlook and explains how investors should position portfolios in… read more...

WTI Daily Rewind 30Aug18: Following Buyside Breakout Attempt, Buyside Continuation To 70.50s

via: SeekingAlpha at 2018-08-31 02:37:43:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 30 August 2018: As noted in Wednesdays WTI Daily , the formation of Weds Buy Spike, 69.25s-69.75s, (evident in the market profile) was structural indication of price… read more...

U.S. crude settles above $70/bbl for first time this month

via: SeekingAlpha at 2018-08-30 16:23:16:000

Crude oil prices climbed to their highest in more than a month , extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. inventories. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&amp… read more...

Why Oil And Natural Gas Prices Are Diverging

via: SeekingAlpha at 2018-08-30 14:43:43:000

By Tsvetana Paraskova for Oilprice.com Until a decade ago, the prices of natural gas in Europe were tightly linked to oil prices. Back then, gas delivery points and gas markets were highly segmented across Europe, natural gas competed with oil and oil-derived products for power generation,… read more...

Favorable Price Action In Clean Energy Fuels Corp. And Westport Fuel Systems

via: SeekingAlpha at 2018-08-30 14:43:20:000

Clean Energy Fuels Corporations ( CLNE ) and Westport Fuel Systems ( WPRT ) are companies involved in supplying trucks and commercial vehicles with cleaners fuels. CLNE provides natural gas as an alternative fuel for vehicle fleets across the United States and Canada. The company designs, buil… read more...

Global Oil Demand Likely To End The Year Stronger

via: SeekingAlpha at 2018-08-30 14:32:02:000

As the third quarter draws nearer to its close, some oil investors are bound to be worried about the state of energy markets. Take out the uncertainty associated with rising US output, sanctions on Iran, militant activities in Libya and Nigeria, the unstoppable production declines in Venezue… read more...

U.S. Oil Demand Concerns Are Overblown

via: SeekingAlpha at 2018-08-30 11:25:17:000

Welcome to the "U.S. oil demand concerns are overblown" edition of Oil Markets Daily! Highlights Over the last month, the oil bear thesis started to grab the market's attention, ranging from the demise of the OPEC cut agreement to trade war led global oil demand slowdown fears and U.S. o… read more...

EM Currencies Feel The Heat

via: SeekingAlpha at 2018-08-30 07:46:37:000

Thursday August 30: Five things the markets are talking about Emerging currencies have sold off sharply again overnight after Argentina's peso suffered its biggest one-day decline in three years, with Turkey's lira, the South African rand and the Indian rupee all feeling the heat. The do… read more...

What's Crackin? U.S. Oil Refiners Going Full Throttle

via: SeekingAlpha at 2018-08-30 05:30:38:000

By Warren Patterson, Commodities Strategist Refinery margins in both Europe and Asia trended higher over much of August, hitting their highest levels since Hurricane Harvey in 2017. It has been a different story in the US, where record run rates have weighed on margins. With crude oil… read more...

WTI Daily Rewind: Following Multi-Day Balance, Buyside Breakout Attempt

via: SeekingAlpha at 2018-08-30 02:49:25:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 29 August 2018: Todays auction saw early Globex selling from Tuesdays settlement, 68.53s, to 68.37s as key support was re-tested into the London open. As noted in Tue… read more...

Crude futures rise further post inventory data

via: SeekingAlpha at 2018-08-29 10:30:50:000

EIA Petroleum Inventories: Crude -2.6M barrels vs. -0.7M consensus, -5.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Energy stocks news, News on ETFs, Stocks on the … read more...

COT Black: Powell Better Thank Congress While He Can

via: SeekingAlpha at 2018-08-29 06:55:29:000

Who can Jerome Powell thank for the PCE Deflator? Not Janet Yellen, who handed off to him instead "transitory" factors. Nor was it globally synchronized growth, which was supposed to have been the deciding element. Instead, it appears more and more that the only place where Chairman Powell mig… read more...

WTI Daily Rewind: Rotation Lower Within Multi-Day Balance, Buying Interest At Key Support

via: SeekingAlpha at 2018-08-29 02:40:49:000

In this article, we examine the significant daily order flow and market structure driving WTI price action. 28 August 2018: Todays auction saw two-sided trade during early Globex from Mondays settlement, 68.87s, before buying interest emerged near settlement, driving price … read more...

The Permian Could Soon Have Too Much Pipeline Capacity

via: SeekingAlpha at 2018-08-29 01:50:44:000

The Permian could soon have too much pipeline capacity, a glut that will present problems for midstream companies. You could be forgiven for doing a double take on that sentence. There has been a lot of attention paid to the pipeline woes in West Texas, but because of the unfolding shortag… read more...

U.S. crude stocks near flat for week, API says

via: SeekingAlpha at 2018-08-28 17:19:30:000

The American Petroleum Institute reportedly sees little change in crude stocks this week, with a gain of 38,000 barrels in the week ended Aug. 24 vs. last week's draw of 5.17M barrels. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocitySh… read more...

Impact Of U.S. Shale On Asian Producers

via: SeekingAlpha at 2018-08-28 07:29:08:000

By Paul Wightman The resurgence of US crude oil production is driving change throughout the world's energy markets. With increasing flows of light sweet crude oil, closely matching the crude diet of many Southeast Asian refiners, benchmark change could be forthcoming as producers re-evalua… read more...

The Promises And Perils Of Oil And Gas Specialization

via: SeekingAlpha at 2018-08-28 06:40:05:000

For much of the oil and gas industry's history, bigger was always considered better. But that truism has been displaced by a push towards specialization. In this episode of Upstream in Perspective, Raoul LeBlanc and Reed Olmstead discuss the promises and perils of E&P specialization. Here'… read more...

Are Silver Shorts Feeling A Little Squeezed?

via: SeekingAlpha at 2018-08-27 08:50:56:000

The Variable Changing Price Momentum Indicator Early Bird Weekend Update for August 24, 2018 covers gold, silver, crude, soybeans, wheat, E-mini S&P and Bitcoin. Gold Gold last traded at $1,210.40. It just completed the sell 2 (S2) level of $1,209 overnight. The average price of $1,196… read more...

Last Week In Oil: The Big Brent Recovery As Iran Sanctions Loom

via: SeekingAlpha at 2018-08-27 07:55:03:000

At the close of last week, the Brent crude price had risen to $75.82 a barrel, with WTI (Nymex) also up late on Friday. Oil prices rose amid the fall in US crude inventories by 5.84 million barrels, the biggest drop in four weeks. Cushing, Oklahoma inventories were at multi-year lows, 40 mil… read more...

What If There Isn't Enough Energy Going Forward?

via: SeekingAlpha at 2018-08-27 06:53:55:000

We'll be forced to live with less. Maybe a LOT less. Currently, the media is breathlessly cheering the record amounts of US oil production. Stories like this one get top billing on major news websites: Texas Gulf Coast exports more oil than it imports for the first time (CNN) I… read more...

Crude Oil's Path Now That Aramco Will Not Go Public Anytime Soon

via: SeekingAlpha at 2018-08-27 06:09:00:000

On Wednesday, August 22, news reports said that the Saudis put their plans for an initial public offering of Aramco shares on the shelf. The move came after years of due diligence and wrangling overvaluation for the worlds largest oil company. The Saudi Crown Prince Mohammed bin Salm… read more...

Will Crude Break The Hearts Of The Bulls Or The Bears?

via: SeekingAlpha at 2018-08-26 14:10:57:000

In my last article , I was bearish on Brent oil ( BNO ) and WTI crude ( OIL ) as I expected them to fall in the longer time frame. This came true last week as WTI crude fell to the $64.49 mark, whilst Brent oil fell to the $70.37 mark. Hence in this article, I shall ascertain the possibility … read more...

WTI Weekly Rewind: Self-Similar Buying At Prior Key Demand Drives Price Higher

via: SeekingAlpha at 2018-08-25 01:09:16:000

In this article, we examine this weeks WTI price action, the significant order flow driving price, and significant developments in the market structure. 19-24 August 2018: Last weeks auction saw trapping of sellers in size at 64.50s which halted the Sellside auction. This… read more...

Oil Products Continue To Support Crude

via: SeekingAlpha at 2018-08-24 14:42:57:000

The path of least resistance for the price of crude oil is a multivariable exercise. Crude oil is a highly political energy commodity because more than half the worlds reserves are located in the worlds most turbulent region; the Middle East. Therefore, events in the area can i… read more...

Oil prices move higher as Iran supply issue looms

via: SeekingAlpha at 2018-08-24 09:09:12:000

Crude oil prices are tracking higher amid some "retrenching" with the U.S. dollar. Traders and analysts also have their eyes on looming supply shortages from Iran as the U.S. sanctions factor in. "Third-party reports indicate that Iranian tanker loadings are already down by around 700,000 … read more...

Crude oil surges 3% after big drop in U.S. stockpiles

via: SeekingAlpha at 2018-08-22 15:35:56:000

U.S. crude oil jumped to its highest level in two weeks after government data showed domestic stockpiles fell last week by 5.8M barrels , nearly 4x more than expected; October WTI +3.1% to settle at $67.86/bbl, Brent +3% at $74.80/bbl. More news on: Exxon Mobil Corporation, Chevron … read more...

Crude oil surges 3% after big drop in U.S. stockpiles

via: SeekingAlpha at 2018-08-22 15:35:56:000

U.S. crude oil jumped to its highest level in two weeks after government data showed domestic stockpiles fell last week by 5.8M barrels , nearly 4x more than expected; October WTI +3.1% to settle at $67.86/bbl, Brent +3% at $74.80/bbl. More news on: Exxon Mobil Corporation, Chevron … read more...

Crude futures pares gains post inventory data

via: SeekingAlpha at 2018-08-22 10:30:58:000

EIA Petroleum Inventories : Crude -5.8M barrels vs. -1.5M consensus, +6.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Energy stocks news, News on ETFs, Stocks on the … read more...

Crude futures pares gains post inventory data

via: SeekingAlpha at 2018-08-22 10:30:58:000

EIA Petroleum Inventories : Crude -5.8M barrels vs. -1.5M consensus, +6.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Commodities news, Energy stocks news, News on ETFs, Stocks on the … read more...

Markets Take U.S. Political Developments In Stride

via: SeekingAlpha at 2018-08-22 07:37:37:000

News that President Trump's personal lawyer claimed he was instructed by the candidate to commit a federal crime and, separately, that the former campaign manager was found guilty on eight counts is hardly impacting the global capital markets. The dollar is narrowly mixed in consolidativ… read more...

Markets Take U.S. Political Developments In Stride

via: SeekingAlpha at 2018-08-22 07:37:37:000

News that President Trump's personal lawyer claimed he was instructed by the candidate to commit a federal crime and, separately, that the former campaign manager was found guilty on eight counts is hardly impacting the global capital markets. The dollar is narrowly mixed in consolidativ… read more...

U.S. crude supply fell 5.2M barrels last week, API says

via: SeekingAlpha at 2018-08-21 16:45:34:000

The American Petroleum Institute reportedly shows a draw of 5.17M barrels of oil for the week ended Aug. 17, vs. a build of 3.6M barrels in the previous week; the draw would be the largest since mid-July if confirmed by EIA data. More news on: The United States Oil ETF, LP, iPath S&P… read more...

Crude oil rallies for fourth straight session

via: SeekingAlpha at 2018-08-21 15:32:16:000

Crude oil futures notch their fourth straight gain , ahead of a forecast drawdown in U.S. crude inventories and supported by the prospect of U.S. sanctions on Iran; most-active October WTI crude settled +0.6% at $67.35/bbl and October Brent crude also +0.6% at $72.63/bbl. More news on… read more...

5 Things Investors Should Know About U.S. Strategic Petroleum Reserves

via: SeekingAlpha at 2018-08-21 14:33:14:000

1. US Department of Energy announced yesterday, offered for delivery between October 1 and November 30, 11 mln barrels of sour crude oil from the Strategic Petroleum Reserves. The move has nothing to do with operationalizing President Trump's complaint that oil prices were too high. Instead,… read more...

Mexico Production And Reserves, H1 2018

via: SeekingAlpha at 2018-08-21 05:04:17:000

By George Kaplan Mexico C&C Production Mexico oil production is in decline though, at the moment, not as steep as it was expected to be (at least by me - IEA predictions are closer). Data is through June and comes from Pemex and National Hydrocarbons Information Center (CNIH) (… read more...

Latest sale from strategic oil reserve

via: SeekingAlpha at 2018-08-21 02:58:16:000

The U.S. Department of Energy is offering 11M barrels of crude for sale from the nation's Strategic Petroleum Reserve ahead of sanctions on Iran that are expected to reduce global oil supplies and increase prices. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total… read more...

Iran's Crude Exports Are Starting To Fall

via: SeekingAlpha at 2018-08-20 16:35:58:000

Welcome to the falling Iran crude export edition of Oil Markets Daily! Since President Trump pulled the US out of the JCPOA (or a.k.a the Iran Nuclear Deal) in May, the oil community has debated on just how severe the impact will be for Iran. Will Iran's crude exports decrease by 1 milli… read more...

Interesting Times Ahead: Price Discovery Lower In WTI Toward Key Demand

via: SeekingAlpha at 2018-08-20 00:21:01:000

In this article, we examine this weeks WTI price action, the significant order flow driving price, and significant developments in the market structure. 12-17 August 2018: This weeks auction saw a sellside breakdown attempt from last weeks resting supply, 66.50s-68… read more...

Mixed Fortunes For Flows To China

via: SeekingAlpha at 2018-08-19 06:21:29:000

Our friends over at Ursa published a blog post yesterday discussing crude inventories at Kyaukphyu in Myanmar, highlighting the seeming political nature of recent crude flows to the storage hub. Crude is delivered to CNPC's Kabala terminal in Myanmar and is stored at Kyaukphyu before being… read more...

This Week In Money - August 18, 2018

via: SeekingAlpha at 2018-08-19 00:49:29:000

Ross Clark Gold, Silver, Canadian Dollar, Turkish Lira. John Rubino Currencies, Banks, Housing Bubble, Constriction of Credit. Eric Hadik Cycles, Gold, Interest Rates, Commodities, Crude. Larry Reaugh President & CEO of American M… read more...

Energy Recap: Is Ethanol A Victim Of Its Own Success?

via: SeekingAlpha at 2018-08-17 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to direct readers to an interesting article about some of the troubles ethanol is facing. As per Real Clear Energy: Economists point out the inefficiency of using fossil fuel-derived fertilizers to grow an 'alternativ… read more...

Energy Recap: Is Ethanol A Victim Of Its Own Success?

via: SeekingAlpha at 2018-08-17 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to direct readers to an interesting article about some of the troubles ethanol is facing. As per Real Clear Energy: Economists point out the inefficiency of using fossil fuel-derived fertilizers to grow an 'alternativ… read more...

The Daily Drilling Report's Oilfield Almanac And Gazette: Update

via: SeekingAlpha at 2018-08-17 16:35:28:000

Notes from the Oilfield Almanac At the Daily Drilling Report, (NYSE: DDR ) we have a four point thesis for investing in energy related stocks. Periodically it needs review for changes in the macro environment. Here's what we found on the main one, demand vs supply. One of the core concep… read more...

The Daily Drilling Report's Oilfield Almanac And Gazette: Update

via: SeekingAlpha at 2018-08-17 16:35:28:000

Notes from the Oilfield Almanac At the Daily Drilling Report, (NYSE: DDR ) we have a four point thesis for investing in energy related stocks. Periodically it needs review for changes in the macro environment. Here's what we found on the main one, demand vs supply. One of the core concep… read more...

U.S. crude posts 7th straight weekly loss on worries of weakening demand

via: SeekingAlpha at 2018-08-17 16:34:36:000

U.S. WTIcrude oil settled modestly higher, +0.7% at $65.91/bbl, but plunged 2.5% on the week for a seventh consecutive weekly decline , marking its longest losing streak in three years; Brent crude finished +0.6% at $71.83/bbl, capping a 1.3% weekly decline, its third in a row. … read more...

U.S. crude posts 7th straight weekly loss on worries of weakening demand

via: SeekingAlpha at 2018-08-17 16:34:36:000

U.S. WTIcrude oil settled modestly higher, +0.7% at $65.91/bbl, but plunged 2.5% on the week for a seventh consecutive weekly decline , marking its longest losing streak in three years; Brent crude finished +0.6% at $71.83/bbl, capping a 1.3% weekly decline, its third in a row. … read more...

Oil And Oil Stocks Are Spring Loaded

via: SeekingAlpha at 2018-08-17 13:54:28:000

In January 2017, I wrote this for MarketWatch: The Trump oil trade, and why oil might soon reach $100 again Today, we are well underway in that move higher in oil prices. Will the price of oil reach $100 again? That depends on whether there are unexpected supply disruptions. Regardless, … read more...

Oil And Oil Stocks Are Spring Loaded

via: SeekingAlpha at 2018-08-17 13:54:28:000

In January 2017, I wrote this for MarketWatch: The Trump oil trade, and why oil might soon reach $100 again Today, we are well underway in that move higher in oil prices. Will the price of oil reach $100 again? That depends on whether there are unexpected supply disruptions. Regardless, … read more...

Total U.S. rigs, oil rigs both flat in Baker Hughes survey

via: SeekingAlpha at 2018-08-17 13:18:11:000

The total U.S. rig count finished flat at 1,057 after surging by 13 last week, according to the latest weekly survey from BakerHughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks n… read more...

Total U.S. rigs, oil rigs both flat in Baker Hughes survey

via: SeekingAlpha at 2018-08-17 13:18:11:000

The total U.S. rig count finished flat at 1,057 after surging by 13 last week, according to the latest weekly survey from BakerHughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks n… read more...

Permian Crude Production: A Gusher In 2019

via: SeekingAlpha at 2018-08-17 13:04:55:000

Growth of crude production in the Permian Basin has been very impressive over the past year. Estimated output in September 2018 is 3.421 million barrels per day (mmbd), an increase of 850,000 b/d, or 33 percent, year-over-year. As strong as that growth has been, well-documented tak… read more...

Permian Crude Production: A Gusher In 2019

via: SeekingAlpha at 2018-08-17 13:04:55:000

Growth of crude production in the Permian Basin has been very impressive over the past year. Estimated output in September 2018 is 3.421 million barrels per day (mmbd), an increase of 850,000 b/d, or 33 percent, year-over-year. As strong as that growth has been, well-documented tak… read more...

U.S. could sanction China over Iran oil, State Department official says

via: SeekingAlpha at 2018-08-17 09:43:15:000

The Trump administration is prepared to impose sanctions on all countries that buy Iranian oil after November's deadline, including China, says Brian Hook, the newly appointed special representative and chief of a new Iran Sanction Group at the U.S. State Department. More news on: The Un… read more...

U.S. could sanction China over Iran oil, State Department official says

via: SeekingAlpha at 2018-08-17 09:43:15:000

The Trump administration is prepared to impose sanctions on all countries that buy Iranian oil after November's deadline, including China, says Brian Hook, the newly appointed special representative and chief of a new Iran Sanction Group at the U.S. State Department. More news on: The Un… read more...

No, The Oil Bull Thesis Is Not Over

via: SeekingAlpha at 2018-08-17 09:30:00:000

"It's not supposed to be easy. Anyone who finds it easy is stupid." Charlie Munger As the quote from Charlie Munger states, investing is far from easy, and the oil market, in particular, comes with booby traps and ditches along the way that if you are not careful, you could fall and break… read more...

No, The Oil Bull Thesis Is Not Over

via: SeekingAlpha at 2018-08-17 09:30:00:000

"It's not supposed to be easy. Anyone who finds it easy is stupid." Charlie Munger As the quote from Charlie Munger states, investing is far from easy, and the oil market, in particular, comes with booby traps and ditches along the way that if you are not careful, you could fall and break… read more...

Crude Oil: A Story Of Demand

via: SeekingAlpha at 2018-08-17 08:08:57:000

By Warren Patterson, Commodities Strategist Growing trade tensions and increasing emerging market risk have weighed on the commodities complex. The Bloomberg Commodities index has fallen by almost 3% since early August and more than 9% since late May. Oil has been unable to escape th… read more...

Crude Oil: A Story Of Demand

via: SeekingAlpha at 2018-08-17 08:08:57:000

By Warren Patterson, Commodities Strategist Growing trade tensions and increasing emerging market risk have weighed on the commodities complex. The Bloomberg Commodities index has fallen by almost 3% since early August and more than 9% since late May. Oil has been unable to escape th… read more...

Crude oil in the spotlight after inventory shocker

via: SeekingAlpha at 2018-08-16 05:27:38:000

Crude oil prices are slightly lower after yesterday's shock surge in U.S. stockpiles. Total petroleum inventories rose a strong 17.4M barrels in the EIA report, just as new concerns over global demand cropped up. Analysts note that a perky U.S. dollar is also adding downward pressure to oil … read more...

Oil Update: Crude Awakening

via: SeekingAlpha at 2018-08-15 22:19:44:000

Yeah, we admit it, todays EIA report was quite frankly a beast. One that we kind of saw coming, but didnt really focus on it until it jumped out at us. Like most things in oil, inventory reports are a pointillist picture, one thats never quite in focus because it&#x2019… read more...

Oil: Upside Price Risks From The Supply Side

via: SeekingAlpha at 2018-08-15 15:42:24:000

Theres an old saw in commodity markets: The cure for low commodity prices is low commodity prices. In other words, as the price of a commodity like oil falls it encourages both faster growth in demand and slower growth in supply as commodity producers take lower prices as a cue to … read more...

Crude oil prices slammed by surprise U.S. inventories build

via: SeekingAlpha at 2018-08-15 12:24:30:000

Crude oil futures plunge after U.S. government data showed an unexpected surge in domestic stockpiles last week: WTI -3.4% at $64.73/bbl, Brent -2.6% at $70.55/bbl. More news on: Exxon Mobil Corporation, Chevron Corporation, Royal Dutch Shell plc, Energy stocks news, Commodities n… read more...

Crude futures decline further post inventory data

via: SeekingAlpha at 2018-08-15 10:31:02:000

EIA Petroleum Inventories: Crude +6.8M barrels vs. -2.5M consensus, -1.4M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, Commodities news, News on ETFs, Stocks on the … read more...

King Dollar? Russian Ruble, EM Currency Weakness May Not Be Over, Says John Roque

via: SeekingAlpha at 2018-08-15 10:13:32:000

By FS Staff Listen to this podcast on our site by clicking here or subscribe on iTunes here . Stock markets around the globe have come under pressure in recent days with a collapse in the Turkish lira and vulnerabilities in the emerging market space. John Roque at Key Squa… read more...

Crude Approaches Year-Old Trend Line

via: SeekingAlpha at 2018-08-15 09:56:39:000

Crude oil has been climbing a trendline for the past year. This Great Graphic depicts this trend on a weekly bar chart. Depending exactly where the line is drawn, it comes in now near $65 a barrel. The technical indicators are consistent with further losses. Oil is off for a third day… read more...

U.S. crude supply rose 3.6M barrels last week, API says

via: SeekingAlpha at 2018-08-14 17:10:49:000

The American Petroleum Institute reportedly shows a build of 3.6M barrels of oil for the week ended Aug. 10, vs. a draw of 6M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy … read more...

Crude oil prices track higher

via: SeekingAlpha at 2018-08-14 05:22:44:000

Crude oil prices are slightly higher after import data is released out of China and Libya. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Commodities news, News on ETFs, Read more … read more...

Saudi Arabia And Iran Reignite The Oil Price War

via: SeekingAlpha at 2018-08-13 21:38:17:000

The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. Saudi Arabia, OP… read more...

OPEC July Crude Production Data

via: SeekingAlpha at 2018-08-13 12:32:10:000

All OPEC data is from the latest OPEC Monthly Oil Market Report and is in thousand barrels per day. All data is through July 2018. OPEC crude oil production was up 41,000 barrels per day in July but that was after June production was revised down by 43,000 bpd. So OPEC production is actual… read more...

The Biggest Potential Threat To The World Economy (Podcast)

via: SeekingAlpha at 2018-08-13 09:45:52:000

Iranian naval exercises in the Strait of Hormuz are signaling Tehrans threat of a blockade of the Strait of Hormuz, through which one-third of the worlds oil passes. Iran has made this threat before, and has not carried it out, but today the regimes back may be against … read more...

Oil - IEA OMR Confirms June Storage Draw But Q2 Global Balances Were Weak

via: SeekingAlpha at 2018-08-13 07:22:00:000

Welcome to the IEA OMR edition of Oil Markets Daily! IEA released its monthly oil market report (OMR) today . OECD commercial stocks fell seasonally by 7.2 million bbls in June to 2,823 million bbls, which is 32 million bbls below the 5-year average. But the bearish variable was that … read more...

Sanctions, Oil, And The Emerging China-Russia-Iran Axis

via: SeekingAlpha at 2018-08-13 07:06:37:000

Although China has backpedalled on proposed tariffs on U.S. crude imports, the move is indicative of its need to diversify sources, and steps may now be taken to enable China to play the oil card in the future - including imports from Iran despite sanctions, and drawing closer to Russia. A… read more...

Market Movers: August OPEC Meeting

via: SeekingAlpha at 2018-08-13 04:53:29:000

Read more … read more...

Steep Backwardation Will Continue To Restrain North American Upstream M&A

via: SeekingAlpha at 2018-08-13 04:35:39:000

Q2'18 M&A Review Second-quarter 2018 deal count for the North America region declined by nearly 40% to the lowest quarterly total in more than two years. Deal count remains sluggish despite increasing spot crude oil prices, as the longer-term crude oil futures curve remains in steep back… read more...

Term Structure In Crude Oil Warned Of The Correction

via: SeekingAlpha at 2018-08-11 18:10:17:000

Many factors make up the market structure of a commodity. When I analyze a specific raw material market for clues about the path of least resistance for prices, the market structure is one of my favorite fundamental tools. Technical factors are significant as they tell us about the market&#x… read more...

Term Structure In Crude Oil Warned Of The Correction

via: SeekingAlpha at 2018-08-11 18:10:17:000

Many factors make up the market structure of a commodity. When I analyze a specific raw material market for clues about the path of least resistance for prices, the market structure is one of my favorite fundamental tools. Technical factors are significant as they tell us about the market&#x… read more...

Energy Recap: Corporate Renewable Energy Procurement Reaches New Heights

via: SeekingAlpha at 2018-08-10 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, the Business Renewables Center announced that "corporate renewable energy procurement reached a new record in 2018, with 3.57 gigawatts of clean energy projects announced this year to date in the U.S. This number exceeds both the … read more...

Energy Recap: Corporate Renewable Energy Procurement Reaches New Heights

via: SeekingAlpha at 2018-08-10 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, the Business Renewables Center announced that "corporate renewable energy procurement reached a new record in 2018, with 3.57 gigawatts of clean energy projects announced this year to date in the U.S. This number exceeds both the … read more...

Energy Recap: Corporate Renewable Energy Procurement Reaches New Heights

via: SeekingAlpha at 2018-08-10 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, the Business Renewables Center announced that "corporate renewable energy procurement reached a new record in 2018, with 3.57 gigawatts of clean energy projects announced this year to date in the U.S. This number exceeds both the … read more...

Total U.S. rigs rise by 13, oil rigs jump 10 in Baker Hughes survey

via: SeekingAlpha at 2018-08-10 13:22:26:000

The total U.S. rig count surged by 13 to 1,057 after falling by 4 last week, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Ne… read more...

Hubbert Curve Is Not A Good Fit For Shale Production

via: SeekingAlpha at 2018-08-10 09:21:21:000

I recently wrote an article dealing with global conventional reserves and production outlook, given the fact that we have seemingly reached the halfway point of ultimate production, given available resources and current recovery rates from existing fields. Those resources are, of course, sub… read more...

IEA: Iran sanctions pressure world's oil supply

via: SeekingAlpha at 2018-08-10 04:13:20:000

"As oil sanctions against Iran take effect… maintaining global supply might be very challenging and would come at the expense of maintaining an adequate spare capacity cushion," the IEA said in latest monthly report. "Thus, the market outlook could be far less calm at that point than it ... read more...

Weekly Oil Storage Report - Brent Will Lead The Next Leg Higher

via: SeekingAlpha at 2018-08-09 09:30:00:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Highlight This week's EIA oil storage report was bearish across the board. US crude storage fell 1.351 million bbls versus our forecast for a draw of 2.4 million bbls. Gasoline stockpile saw a build of 2.9 million b… read more...

Analysis Of The EIA Statistics, Week Ending August 3, 2018

via: SeekingAlpha at 2018-08-08 21:49:38:000

According to the Energy Information Administration, U.S. petroleum inventories (excluding SPR) built by 3.3 million barrels (mmb) last week to 1.210 billion barrels, their highest level since January 5. They stand about 46 mmb lower than the rising, rolling 5-year average and are about 102 mmb… read more...

Crude oil sinks as total U.S. stockpiles of oil and fuel hit seven-month high

via: SeekingAlpha at 2018-08-08 13:14:00:000

Crude oil prices plunge to their lowest levels in six weeks after total U.S. stockpiles of oil and fuel rose to a seven-month high and U.S.-China trade relations continue to deteriorate; U.S. WTI -3.7% at $66.56/bbl, Brent -3.6% at $71.93/bbl. More news on: The United States Oil ETF,… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-08-08 10:31:00:000

EIA Petroleum Inventories: Crude -1.4M barrels vs. -2.8M consensus, +3.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, Commodities news, Stocks on the move, News on … read more...

China omits U.S. crude oil from new tariff list

via: SeekingAlpha at 2018-08-08 10:19:21:000

China will impose a 25% tax on most energy commodity exports from the U.S. starting Aug. 23 but is exempting crude oil , Argus reports. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Commod… read more...

The Oil Price Impact Of Iran Sanctions With Energy Policy Analyst Joe McMonigle

via: SeekingAlpha at 2018-08-08 08:36:30:000

Our Energy Policy analyst Joe McMonigle joined Hedgeye CEO Keith McCullough on Tuesday's edition of The Macro Show to discuss the newest sanctions placed on Iran by the Trump administration and its potential effects on the price of oil. Watch the full segment below to get the latest ins… read more...

Crude Oil Remains Steady On Iran

via: SeekingAlpha at 2018-08-08 06:30:00:000

Many commodities prices have declined significantly over recent weeks and months, and some remain at or near the lowest level of 2018. The four precious metals futures market that trade on the COMEX and NYMEX futures exchange have all made new lows for this year and are not far off their nadir… read more...

Striking Options 8/7 Q2 Earnings, Global Crude Oil, And Equities

via: SeekingAlpha at 2018-08-08 04:35:45:000

Read more … read more...

U.S. crude supply fell 6M barrels last week, API says

via: SeekingAlpha at 2018-08-07 16:55:13:000

The American Petroleum Institute reportedly shows a draw of 6M barrels of oil for the week ended Aug. 3, vs. a build of 5.6M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy s… read more...

Crude Oil-To-Chemicals Projects Presage A New Era In Global Petrochemical Industry

via: SeekingAlpha at 2018-08-07 06:26:10:000

Several crude oil-to-chemical (COTC) projects being planned or started in Asia and Saudi Arabia threaten to reshape the global petrochemical industry in the coming years. COTCs configure a refinery to produce maximum chemicals instead of traditional transportation fuels. Since refinery process… read more...

Investor Sentiment Swings Oil Prices Lower

via: SeekingAlpha at 2018-08-06 17:40:36:000

Editor's note: Seeking Alpha is proud to welcome Tertiary Capital as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more For the … read more...

Oil's Short-Term Headwinds Are Reversing

via: SeekingAlpha at 2018-08-06 16:51:44:000

Welcome to the short-term concern edition of Oil Markets Daily! Over the last 3-weeks, we've kept readers informed that there was a mismatch in export timing , which pushed oil prices lower in the near-term. But in our recent updates , those short-term bearish signals are starting to d… read more...

Are We Near Peak Oil Prices?

via: SeekingAlpha at 2018-08-06 15:41:56:000

Are We Near Peak Oil Prices? During the past two years, oil prices more than doubled, moving from $26/barrel in 2016 to north of $70/barrel in 2018. Oil prices rose as the global economy recovered in 2017 and the first half of 2018. In the second half of 2018, the global economy started … read more...

What Should Investors Do? Buy Gold And Silver Assets

via: SeekingAlpha at 2018-08-06 15:14:23:000

The Daily VC PMI Early Bird Update The Daily VC PMI Early Bird Update for August 3, 2018 offered a look at seven markets based on the AI of the Automated Variable Changing Price Momentum Indicator (VC PMI). For gold and silver, the VC PMI recommends buying on corrections. Crude is in a neu… read more...

U.S. is set to implement more sanctions on Iran, others to follow on Nov. 4

via: SeekingAlpha at 2018-08-06 11:21:17:000

The Trump administration says it expects buyers of Iranian oil to begin winding down their purchases as of midnight tonight in response to new U.S. sanctions, but countries including China, India and France are considering creative measures to keep importing Iranian crude. More news on… read more...

Energy Recap: Your Thoughts On A National Energy Grid

via: SeekingAlpha at 2018-08-03 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to direct readers to an interesting article that discusses the viability of national energy grid. A new study from the National Renewable Energy Laboratory (NREL) was put together in order to "identify cost-effective o… read more...

Energy Recap: Your Thoughts On A National Energy Grid

via: SeekingAlpha at 2018-08-03 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to direct readers to an interesting article that discusses the viability of national energy grid. A new study from the National Renewable Energy Laboratory (NREL) was put together in order to "identify cost-effective o… read more...

Energy Recap: Your Thoughts On A National Energy Grid

via: SeekingAlpha at 2018-08-03 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to direct readers to an interesting article that discusses the viability of national energy grid. A new study from the National Renewable Energy Laboratory (NREL) was put together in order to "identify cost-effective o… read more...

Commodities Recap For The Week Of Aug. 3, 2018

via: SeekingAlpha at 2018-08-03 16:50:21:000

The Story of This week: Focus On the Not-So-Precious Metals Gold has been under pressure since mid-April when the price of the yellow metal traded to a high of $1365.40 for the second time in 2018 putting in a double-top trading pattern on the weekly and monthly charts. The now active mon… read more...

Commodities Recap For The Week Of Aug. 3, 2018

via: SeekingAlpha at 2018-08-03 16:50:21:000

The Story of This week: Focus On the Not-So-Precious Metals Gold has been under pressure since mid-April when the price of the yellow metal traded to a high of $1365.40 for the second time in 2018 putting in a double-top trading pattern on the weekly and monthly charts. The now active mon… read more...

Commodities Recap For The Week Of Aug. 3, 2018

via: SeekingAlpha at 2018-08-03 16:50:21:000

The Story of This week: Focus On the Not-So-Precious Metals Gold has been under pressure since mid-April when the price of the yellow metal traded to a high of $1365.40 for the second time in 2018 putting in a double-top trading pattern on the weekly and monthly charts. The now active mon… read more...

When Will Completion-Exposed Oil Equities Discount Permian 2020?

via: SeekingAlpha at 2018-08-03 08:17:07:000

Editor's note: Seeking Alpha is proud to welcome BP Capital Fund Advisors, LLC as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more &#xBB… read more...

When Will Completion-Exposed Oil Equities Discount Permian 2020?

via: SeekingAlpha at 2018-08-03 08:17:07:000

Editor's note: Seeking Alpha is proud to welcome BP Capital Fund Advisors, LLC as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more &#xBB… read more...

When Will Completion-Exposed Oil Equities Discount Permian 2020?

via: SeekingAlpha at 2018-08-03 08:17:07:000

Editor's note: Seeking Alpha is proud to welcome BP Capital Fund Advisors, LLC as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more &#xBB… read more...

China rejects cutting Iranian oil imports

via: SeekingAlpha at 2018-08-03 04:00:26:000

The U.S. has reportedly been unable to persuade China to cut Iranian oil imports, although Beijing has agreed not to ramp up purchases of Iranian crude. China is the world's top oil buyer and Tehrans No. 1 customer. More news on: The United States Oil ETF, LP, iPath S&P Crude… read more...

China rejects cutting Iranian oil imports

via: SeekingAlpha at 2018-08-03 04:00:26:000

The U.S. has reportedly been unable to persuade China to cut Iranian oil imports, although Beijing has agreed not to ramp up purchases of Iranian crude. China is the world's top oil buyer and Tehrans No. 1 customer. More news on: The United States Oil ETF, LP, iPath S&P Crude… read more...

China rejects cutting Iranian oil imports

via: SeekingAlpha at 2018-08-03 04:00:26:000

The U.S. has reportedly been unable to persuade China to cut Iranian oil imports, although Beijing has agreed not to ramp up purchases of Iranian crude. China is the world's top oil buyer and Tehrans No. 1 customer. More news on: The United States Oil ETF, LP, iPath S&P Crude… read more...

U.S. Oil Exports Rise To India, Drop To China

via: SeekingAlpha at 2018-08-02 11:46:56:000

The VLCC Tianjin left the Corpus Christi lightering zone in the Gulf of Mexico on June 19 with nearly 2.1 million barrels of US WTI/Midland WTI crude on board. It has just discharged its cargo at Reliance's Jamnagar refinery in India, sneaking in before the end of the July to mark a record mon… read more...

Is Something Important Happening To Oil Prices?

via: SeekingAlpha at 2018-08-02 10:52:43:000

Oil prices are weaker for the third straight day and are off in four of the past five sessions, the poorest run in two months. Supply considerations may threaten a year-old trend line. OPEC and non-OPEC, essentially Saudi Arabia and Russia, are making good on their commitment to boost out… read more...

Goldman Sachs Private Wealth Management Taking Stock Of Our 2018 Outlook: (Un)Steady As She Goes

via: SeekingAlpha at 2018-08-02 10:23:28:000

Read more … read more...

U.S. And World Oil Production And Exxon Mobil Outlook

via: SeekingAlpha at 2018-08-01 17:13:15:000

Here are the latest oil production numbers from the EIA. All data is in thousand barrels per day unless otherwise noted. The USA through May 2018. The upward surge has stalled for the last two months. US production was down 30,000 bpd in May. It is a little astonishing how close the Texas … read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-08-01 10:31:25:000

EIA Petroleum Inventories : Crude +3.8M barrels vs. -2.8M consensus, -6.1M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, Commodities news, Stocks on the move, News on … read more...

The Forward Curve In Oil Continues To Point To Tightness

via: SeekingAlpha at 2018-08-01 06:00:00:000

While many commodities prices have moved appreciably lower over recent weeks, the price of oil remains not far below its recent high at just over the $75 per barrel level on the NYMEX futures contract. All precious metals, copper and most base metals, and many agricultural commodities have all… read more...

Oil Update - July 2018

via: SeekingAlpha at 2018-08-01 04:16:16:000

My expectation for the West Texas Intermediate oil price for August is the same as it was for July, namely WTI will range between $65 and $75 per barrel. While it might deviate from that range for a few days, I expect that WTI prices will fall within that range for most of the month. The US … read more...

Oil May Have Reached Its Supply Gut Ceiling

via: SeekingAlpha at 2018-07-31 20:37:49:000

Back in May, near the height of oil's steady rally over this past year, I wrote that $100 a barrel oil ( USO ) simply seemed unlikely with both oil's supply trends as well the developments in other kinds of energy sources. Though, then, it seemed an uncertain prediction, these past few mon… read more...

U.S. crude supply rose 5.6M barrels last week, API says

via: SeekingAlpha at 2018-07-31 17:10:03:000

The American Petroleum Institute reportedly shows a build of 5.59M barrels of oil for the week ended July 24, vs. a draw of 3.16M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, E… read more...

U.S. Oil Production Disappoints To The Downside As The Permian Bottleneck Bites

via: SeekingAlpha at 2018-07-31 15:51:42:000

Welcome to the disappointment edition of Oil Markets Daily! Following a seven-month period of blitz like production growth, US oil production for May according to the EIA 914 decreased by 30k b/d month-over-month rather than grow as we had previously expected. Leading up to this repo… read more...

U.S. crude oil closes back above $70/bbl, boosted by supply worries

via: SeekingAlpha at 2018-07-30 16:28:42:000

U.S. crude oil settled back above $70/bbl for the first time in nearly three weeks on global supply concerns and strong underlying demand. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Comm… read more...

OIL Weekly: Bulls Are Back

via: SeekingAlpha at 2018-07-30 08:34:56:000

Introduction Welcome to my Oil Weekly report. In this report, I wish to discuss about crude oil inventories and net speculative positioning changes, based respectively on the Weekly Energy Information Administration ((EIA)) report and the Commodity Futures Trading Commission ((CFTC)) estim… read more...

Crude Oil - A Market With Wild Potential These Days

via: SeekingAlpha at 2018-07-30 07:00:00:000

The crude oil market is a puzzle with many moving parts. While supply and demand fundamentals play a significant role in the path of least resistance of the price of the energy commodity, technical factors such as herds of buyers or sellers can also dictate short-term price trends. At times fu… read more...

The Nigerian Oil Industry And Renewed Instability In The Delta

via: SeekingAlpha at 2018-07-29 14:57:23:000

Throughout the spring and summer of 2018, the Nigerian petroleum industry has suffered major production and export complications, exacerbated by an atmosphere of political instability. This could destabilize the African nation, which relies on oil to fuel its economic growth, and could intens… read more...

Energy Week: What Now?

via: SeekingAlpha at 2018-07-28 07:00:00:000

Our Marketplace Roundtable review of the energy sector concludes with a lightning round of three questions on where oil and gas are headed this year, and what our authors' favorite picks are. Energy is nothing if unpredictable, so these represent the authors' views based on the information ava… read more...

Energy Recap: Will Europe Really Buy More U.S. Natural Gas?

via: SeekingAlpha at 2018-07-27 19:03:00:000

Welcome to the latest edition of the Energy Recap. As most readers are probably aware, President Trump and European Commission President Jean-Claude Juncker met in Washington this week to iron out a trade dispute between the two countries. As per Bloomberg, via Mining Weekly : Europe will … read more...

U.S. rig count, oil rigs edge higher in latest Baker Hughes survey

via: SeekingAlpha at 2018-07-27 13:13:31:000

The total U.S. rig count rose by 2 to 1,048 after falling by 8 last week, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commo… read more...

Oil Speculation And Future Pricing Are Not In Sync - Trade Accordingly

via: SeekingAlpha at 2018-07-27 08:29:53:000

This article is written by Kimberly Rios, CFA, CMT, and portfolio manager of the Catalyst Hedged Commodity Strategy Fund (MUTF: CFHAX ). Oil has taken investors on quite the ride lately, especially if those investors were long. The asset has become increasing volatile, often moving double … read more...

Energy Week: Short Crude

via: SeekingAlpha at 2018-07-27 07:30:00:000

Energy has been a big winner in the stock market so far in 2018. It seems the dog days of 2014, when oil prices plummeted to rock-bottom levels, are firmly in the rear view. Nonetheless, with oil prices up 40% from last year and despite being the second-best performing sector globally over the… read more...

World Oil 2018-2050: World Energy Annual Report (Part 2)

via: SeekingAlpha at 2018-07-27 06:18:25:000

By Dr. Minqi Li, Professor Department of Economics, University of Utah This is Part 2 of the World Energy Annual Report in 2018. This part of the Annual Report provides updated analysis of world oil production and consumption, evaluates the future prospect of world oil supply and consi… read more...

An Alternative To The XLE

via: SeekingAlpha at 2018-07-27 06:15:00:000

Crude oil is the most liquid and closely-watched commodity that trades on the futures exchange. Many investors who do not venture into the leveraged and highly volatile world of futures use the XLE to position in the energy sector. The [[XLE]] or the Energy Select Sector SPDR ETF has net asset… read more...

Crude Oil Futures May Have Peaked As Oil Majors Chevron And Exxon Mobil Report Earnings

via: SeekingAlpha at 2018-07-27 00:18:02:000

Nymex Crude Oil Futures (CLv1) have been outperforming the oil majors Chevron Corp. (NYSE:CVX) and Exxon Mobil Corp (NYSE:XOM) which are members of the Dow Jones Industrial Average and are two of the eight members of the Dogs of the Dow for 2018. Chevron and Exxon Mobil r… read more...

Oil Supply Shock Coming In 2020 And How To Prepare

via: SeekingAlpha at 2018-07-26 23:30:05:000

Thursday, January 2, 2020, is going to be a very interesting day in the energy markets. The day before that, January 1, the International Maritime Organizations rule mandating only low-sulfur fuel be used for the maritime industry goes into effect globally. On that day, the demand for … read more...

Gold And Oil Markets: Summer Cash Cows For Option Sellers

via: SeekingAlpha at 2018-07-26 11:01:12:000

Read more … read more...

Oil Inventories Signal Strength - Long-Term Outlook Bullish

via: SeekingAlpha at 2018-07-26 10:37:37:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Analysis EIA's data has been extremely choppy w-o-w. In one week, exports were understated. In the next, exports are overstated. We understand that the variability in when the customs collects the data versus w… read more...

Oil Equities Are Generally Waiting For Love

via: SeekingAlpha at 2018-07-26 08:04:11:000

As a parent, youve likely taken your kids to see Disneys latest animated movie, Incredibles 2 . We know that because the summer heat and free time means…distractions are needed! Box office receipts confirm our assumptions, and we hope you enjoyed the two hours of tranquili... read more...

Saudi Arabia stops Red Sea oil shipments after two tankers attacked

via: SeekingAlpha at 2018-07-26 07:30:23:000

Saudi Arabia suspends oil shipments through a strategic Red Sea waterway after Yemen rebels attacked two tankers, one of which was slightly damaged; Brent crude +0.5% at $74.34/bbl, U.S. WTI flat at $69.33/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF… read more...

Energy Week: Making Sense Of Geopolitics, Trade Wars, And The Permian

via: SeekingAlpha at 2018-07-26 07:00:00:000

Energy has been a big winner in the stock market so far in 2018. It seems the dog days of 2014, when oil prices plummeted to rock-bottom levels, are firmly in the rear view. Nonetheless, with oil prices up 40% from last year and despite being the second-best performing sector globally over the… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-07-25 10:30:35:000

EIA Petroleum Inventories: Crude -6.1M barrels vs. -2.6M consensus, +5.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, Commodities news, Stocks on the move, News on … read more...

Energy Week: Drilling For Stories In The Oil Sector

via: SeekingAlpha at 2018-07-25 07:00:00:000

Energy has been a big winner in the stock market so far in 2018. It seems the dog days of 2014, when oil prices plummeted to rock-bottom levels, are firmly in the rear view. Nonetheless, with oil prices up 40% from last year and despite being the second-best performing sector globally over the… read more...

U.S. crude supply fell 3.16M barrels last week, API says

via: SeekingAlpha at 2018-07-24 17:15:38:000

The American Petroleum Institute reportedly shows a draw of 3.16M barrels of oil for the week ending July 20, vs. a build of 629K barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, E… read more...

Global Bond Prices Under Pressure From Central Bank Chatter (Wall Street Breakfast Podcast)

via: SeekingAlpha at 2018-07-24 07:46:51:000

Today's top stories: Global bond prices under pressure from central bank chatter; Iran threatens U.S. over oil exports; and US futures get a boost from overseas fintech performance. If you are interested in listening to Wall Street Breakfast to start your day, look for us in the follo… read more...

Energy Week: Playing The Volatility Game

via: SeekingAlpha at 2018-07-24 07:30:00:000

Energy has been a big winner in the stock market so far in 2018. It seems the dog days of 2014, when oil prices plummeted to rock-bottom levels, are firmly in the rear view. Nonetheless, with oil prices up 40% from last year, and despite being the second-best performing sector globally over th… read more...

Wall Street Breakfast: Global Bond Prices Under Pressure From Central Bank Chatter

via: SeekingAlpha at 2018-07-24 06:58:27:000

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on iTunes , Stitcher and SoundCloud (click the highlighted links). Government bond prices around the world tumbled yesterday following reports that central banks could be preparing to… read more...

Oil could soar to $200/bbl if U.S., Iran go to war

via: SeekingAlpha at 2018-07-24 05:26:11:000

Iran will respond with equal countermeasures if the U.S. tries to block its oil exports through the Strait of Hormuz, the foreign ministry in Tehran says a day after Pres. Trump's twitter warning of dire consequences the like of which few throughout history have suffered before&… read more...

Commodities Weekly: Copper Hovers Near One-Year Low On Global Growth Uncertainty

via: SeekingAlpha at 2018-07-24 02:45:02:000

By Andrew Robinson The risk that the ongoing trade wars could escalate to such an extent that all $500 billion worth of Chinese exports to the US could be subject to some form of tariff is causing some concern among investors. At the recent G-20 summit in Buenos Aires, the consensus was th… read more...

Bullish On Oil? Inventories Back To Rising While Gold Hedge Funds Remain Optimistic

via: SeekingAlpha at 2018-07-23 11:47:23:000

Image credit: Pixabay Investment Thesis The global supply-demand balance for oil market is expected to witness further declines in inventories and higher prices in the second half of 2018. These changes will lessen the risks of a stock-out of the oil market in 2018. Given this market… read more...

Energy Week: Optimistic, Cautious, And Opportunistic

via: SeekingAlpha at 2018-07-23 07:30:00:000

Energy has been a big winner in the stock market so far in 2018. It seems the dog days of 2014, when oil prices plummeted to rock-bottom levels, are firmly in the rear view. Nonetheless, with oil prices up 40% from last year, and despite being the second-best performing sector globally over th… read more...

Energy Demand Increases - A Pick And Shovel Play In Oil

via: SeekingAlpha at 2018-07-23 06:00:00:000

The price of crude oil dropped by almost $3 per barrel on Monday, July 16. After trading to a high of $75.27 per barrel on the nearby August NYMEX futures contract on July 3, the price settled at $68.06 per barrel on Monday, a decline of $7.21 or 9.6% in a little less than two weeks. On Tuesda… read more...

Google Trends And Backwardation In Crude

via: SeekingAlpha at 2018-07-22 20:40:11:000

As many are aware, crude oil has been in a strong bull market over the past year. Since last June, a barrel of WTI crude oil has risen from $42 to $74 before falling to $68 the past two weeks. Many traders and investors have made a killing on everything from crude oil futures to buying near-ba… read more...

Fundamentals Trumped By Trade Fears

via: SeekingAlpha at 2018-07-21 10:16:58:000

2Q'18 Hard Assets Strategy Review During the quarter, VanEck's hard assets strategy returned 4.69% (measured by VanEck Global Hard Assets Fund, Class A (GHAAX) , excluding sales charge). On a relative basis, the strategy underperformed its commodity equities-based benchmark index, the S… read more...

Fundamentals Trumped By Trade Fears

via: SeekingAlpha at 2018-07-21 10:16:58:000

2Q'18 Hard Assets Strategy Review During the quarter, VanEck's hard assets strategy returned 4.69% (measured by VanEck Global Hard Assets Fund, Class A (GHAAX) , excluding sales charge). On a relative basis, the strategy underperformed its commodity equities-based benchmark index, the S… read more...

Energy Week: Bring The Noise

via: SeekingAlpha at 2018-07-21 07:30:00:000

Energy has been a big winner in the stock market so far in 2018. It seems the dog days of 2014, when oil prices plummeted to rock-bottom levels, are firmly in the rear view. Nonetheless, with oil prices up 40% from last year, and despite being the second-best performing sector globally over th… read more...

Energy Week: Bring The Noise

via: SeekingAlpha at 2018-07-21 07:30:00:000

Energy has been a big winner in the stock market so far in 2018. It seems the dog days of 2014, when oil prices plummeted to rock-bottom levels, are firmly in the rear view. Nonetheless, with oil prices up 40% from last year, and despite being the second-best performing sector globally over th… read more...

Energy Recap: Saudi Aramco Considering A Stake In SABIC

via: SeekingAlpha at 2018-07-20 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to share some news in the ongoing saga known as the Saudi Aramco IPO. It was reported on Thursday, July 19, that the state-owned oil company is in the early stages of talks to buy a stake in the chemicals firm Saudi Arabia… read more...

U.S. rig count, oil rigs both slide in Baker Hughes weekly survey

via: SeekingAlpha at 2018-07-20 13:16:10:000

The total U.S. rig count fell by 8 to 1,046 following back-to-back weekly increases, Baker Hughes reports in its latest survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commodit… read more...

Energy Week: Volatility Reigns Supreme

via: SeekingAlpha at 2018-07-20 07:30:00:000

Energy has been a big winner in the stock market so far in 2018. It seems the dog days of 2014, when oil prices plummeted to rock-bottom levels, are firmly in the rear view. Nonetheless, with oil prices up 40% from last year, and despite being the second-best performing sector globally over th… read more...

Aramco IPO Will Not Come To Market In 2019 - Or Will It?

via: SeekingAlpha at 2018-07-20 06:00:00:000

The price of crude oil has been making higher lows and higher highs since February 2016 when nearby NYMEX crude oil fell to a low of $26.05, and active month Brent futures hit bottom at $27.11 per barrel. The lows came at a time when other raw material prices were hitting lows in late 2015 a… read more...

No Oil Discoveries? No Problem! (Update)

via: SeekingAlpha at 2018-07-20 03:03:25:000

In September 2016, I published an article No Oil Discoveries? No Problem! on Seeking Alpha. New oil discoveries were at a 70-year low, and articles claimed that a reduction in production resulting in a rise in price is therefore inevitable. Comments to my article, and in … read more...

Weekly Oil Storage Report - Volatile Figures Mask Underlying Strength

via: SeekingAlpha at 2018-07-19 12:56:41:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Highlights EIA reported a counterseasonal crude storage build of 5.836 million bbls versus the five-year draw of 5.168 million bbls, or a delta of 11 million bbls. The build came on a combination of lower refinery thr… read more...

Texas to become No. 3 oil powerhouse

via: SeekingAlpha at 2018-07-19 05:35:26:000

Plunging drilling costs have sparked an explosion of production in Texas, and is making the state a global oil superpower. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, News on ETFs, Commodities news, Energy… read more...

Commodities Prices Tumble Over Trade War Fears

via: SeekingAlpha at 2018-07-19 01:23:33:000

Commodities are bearing the brunt of the trade war between the U.S. and China as prices have dropped to the lowest level in five months. Bart Melek, Head of Global Commodity Strategy, TD Securities , talks to Kim Parlee about where prices are headed, which commodities are under pressure … read more...

U.K. Offshore Production: Summary For First Quarter 2018

via: SeekingAlpha at 2018-07-18 10:48:38:000

By George Kaplan UK C&C It was expected by many, me included but more importantly UKOGA and a couple of the bigger oil and gas consultancies, that UK offshore oil production would increase significantly from 2017 to exceed 1000 kbpd for the yearly average in 2018. So far, this is pro… read more...

Crude futures decline further post inventory data

via: SeekingAlpha at 2018-07-18 10:30:54:000

EIA Petroleum Inventories: Crude + 5.8M barrels vs. -3.6M consensus, -12.6M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, Commodities news, Stocks on the move, News on… read more...

Hubbert Curve's Halfway Point May Be Imminent For Conventional Crude

via: SeekingAlpha at 2018-07-18 08:47:12:000

After a very loud chorus of analysts, commentators, institutions and most media declaring the death of peak oil supply theory, the dawn of peak oil demand and low oil prices forever, I find it is still hard to discuss the issue of coming oil scarcity, in the face of continued demand growth. Th… read more...

Greenback Extends Gains - For Now

via: SeekingAlpha at 2018-07-18 07:29:17:000

After softening in Europe yesterday, the dollar recovered in the North American session with the help of assurances by Fed Chair Powell, who reaffirmed the path gradual path despite clear recognition that tariffs threaten wages and growth. The greenback has extended those gains today and is … read more...

Uncertainties Continue To Weigh On The Oil Sands Growth Story

via: SeekingAlpha at 2018-07-18 06:47:38:000

Growth in the Canadian oil sands has made Canada the fifth-largest producer of crude oil in the world and the largest source of US crude oil imports - exceeding all of OPEC combined in 2017. The next two years - 2018 and 2019 - will see an additional half million more barrels hit the market. H… read more...

Trump Aims To Break OPEC

via: SeekingAlpha at 2018-07-18 00:07:01:000

The Saudi position on oil production and prices has changed dramatically in just a few months. The most obvious and direct reason has been pressure from President Trump to cool oil prices, coupled with the U.S. withdrawal from the Iran nuclear deal and threat of sanctions. In February, Saudi… read more...

U.S. crude supply rose 629K barrels last week, API says

via: SeekingAlpha at 2018-07-17 16:42:10:000

The American Petroleum Institute reportedly shows a build of 629K barrels of oil for the week ending July 13, vs. a draw of 6.79B barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Ene… read more...

Brent oil could re-test $80/bbl later this fall, Goldman analyst says

via: SeekingAlpha at 2018-07-17 15:22:01:000

Brent crude oil has slumped to ~$72/bbl in recent days, the lowest point since early April, but Goldman Sachs analyst Damien Courvalin thinks Brent could touch the $80s again later this fall . More news on: Cabot Oil & Gas Corporation, EOG Resources, Inc., The United States Oil ETF, L… read more...

ICE to launch oil futures contract based on Permian crude to Houston

via: SeekingAlpha at 2018-07-17 11:11:20:000

Intercontinental Exchange ( ICE -0.1% ) announces plans to establish a new crude oil futures contract with physical delivery in Houston, a sign of the citys growing importance as the U.S. sends more crude abroad. More news on: Intercontinental Exchange, Inc., Magellan Midstre… read more...

Copper And Oil Examples In Case Of Risk-Off

via: SeekingAlpha at 2018-07-17 07:00:00:000

Risk-off periods happen infrequently, but they are memorable. I remember my first significant experience with risk-off in 1987. I was an options trader in the commodities options department at Philipp Brothers in 1987, and on Monday, October 19 as I looked forward to my twenty-eight birthday… read more...

Tumult In The Oil Patch; Trump's SPR Release

via: SeekingAlpha at 2018-07-16 19:47:49:000

If an acquaintance you knew who had $660 left in their bank account and faced a growing H2 2018 "cash flow issue" suddenly came up to you and said "I've got an anniversary coming up . . . time to spend some cash on the girlfriend to boost approval ratings" what would you think? For us . . . go… read more...

Oil - Mismatch In Export Timing Pushes Prices Lower Near Term

via: SeekingAlpha at 2018-07-16 15:37:11:000

Welcome to the mismatch edition of Oil Markets Daily! Oil prices are still nosediving today with WTI below $68/bbl and Brent trading around $71.75/bbl. One of the more concerning thing about the market structure today is that the curve has gone from a steep backwardation to essentially f… read more...

Oil Takes Center Stage: Commodities Halftime Report 2018

via: SeekingAlpha at 2018-07-16 14:04:03:000

Near the beginning of the year, Goldman Sachs analyst Jeffrey Currie made the case that the macro backdrop right now favored commodities in 2018. With inflation pushing prices up and world economies borrowing record amounts of capital, it was the best time in decades, he said, … read more...

Metals, Minis And Oil - Plus Wheat And Soybeans

via: SeekingAlpha at 2018-07-16 13:47:18:000

The report below is based on the July 13, 2018, Variable Changing Price Momentum Indicator ((VC PMI)) early bird update. Gold Courtsesy: ema2tradelivesignals.com The gold market is trading at $1241.60, down about $5. The average price for the day is $1246. The extreme below that mean… read more...

Venezuela: The Key To Oil Prices

via: SeekingAlpha at 2018-07-16 13:22:34:000

The world is accelerating into an energy crisis, and in this article, I explore the country that has played a leading role: Venezuela. Venezuela Oil Production The following graph illustrates that the oil production in the distressed country has rapidly declined since late 2015, and has … read more...

Peak oil demand seen in fewer than 20 years, Wood Mackenzie forecasts

via: SeekingAlpha at 2018-07-16 12:57:48:000

Global oil demand will peak at around 2036 , says oil consultancy Wood Mackenzie, an earlier date than many energy majors use in their scenario planning. More news on: Exxon Mobil Corporation, The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks ne… read more...

Crude oil tumbles as Russia could ramp up production to fill supply gaps

via: SeekingAlpha at 2018-07-16 11:05:46:000

Crude oil prices accelerate earlier losses as U.S. Treasury Secretary Mnuchin says some oil buyers could get waivers to continue buying Iranian supplies despite sanctions; U.S. WTI -3.6% at $68.47/bbl, Brent -3.5% at $72.71/bbl. More news on: The United States Oil ETF, LP, Energy Sel… read more...

Oil: Facts, Numbers And Emotions

via: SeekingAlpha at 2018-07-16 11:03:48:000

The OPEC and the IEA made the first forecasts for 2019, and I'll start with analyzing their dynamics. The OPEC estimates the average global oil demand in 2019 at the level of 100.3 m/bd. This means growth of 1.42% relative to the last OPEC estimate of the global demand in the current yea… read more...

Oil dips below $70 on Saudi offer, SPR release

via: SeekingAlpha at 2018-07-16 06:42:45:000

Saudi Arabia is said to have offered extra crude to some customers, extending additional cargoes of its Arab Extra Light crude to at least two buyers in Asia, Bloomberg reports . More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X… read more...

Crude Oil Falls On Trade - The Market Grants A July 4th Wish

via: SeekingAlpha at 2018-07-16 06:00:00:000

In the aftermath of the June 22 OPEC meeting, the price of crude oil looked like it was on its way to $80 per barrel as the first step towards triple-digit crude oil for the first time since 2014. The market looked so bullish that U.S. President Donald Trump sent a tweet urging Saudi King Salm… read more...

This Week In Money - July 14, 2018

via: SeekingAlpha at 2018-07-15 04:31:23:000

Ross Clark Oil Prices, Bank of Canada Rate Hike, NASDAQ, FAANGS. Danielle Park Banks, Robots taking jobs. Ted Dixon Trump, Tariffs, World Economy, Marijuana, Electric Cars. Larry Reaugh President & CEO of American Manganese Inc. … read more...

Energy Recap: Apple Launches Clean Energy Fund In China

via: SeekingAlpha at 2018-07-13 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, Apple (AAPL) announced that it has launched a clean energy fund in China, its latest renewable energy project. According to The Verge , the company "will work with 10 other suppliers to jointly invest $300 million over the next fou… read more...

Energy Recap: Apple Launches Clean Energy Fund In China

via: SeekingAlpha at 2018-07-13 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, Apple (AAPL) announced that it has launched a clean energy fund in China, its latest renewable energy project. According to The Verge , the company "will work with 10 other suppliers to jointly invest $300 million over the next fou… read more...

Saudi Arabia Is The Most Reliable Oil Supplier!

via: SeekingAlpha at 2018-07-13 18:40:05:000

The White House confirmed that Saudi Arabias King Salman promised US President Donald Trump to raise oil production if necessary, stressing that the Kingdom has an additional two million barrels per day in its production capacity. Once leaders talked, the world carefully listened to th… read more...

Saudi Arabia Is The Most Reliable Oil Supplier!

via: SeekingAlpha at 2018-07-13 18:40:05:000

The White House confirmed that Saudi Arabias King Salman promised US President Donald Trump to raise oil production if necessary, stressing that the Kingdom has an additional two million barrels per day in its production capacity. Once leaders talked, the world carefully listened to th… read more...

Crude oil rebounds but ends with big weekly loss

via: SeekingAlpha at 2018-07-13 16:14:27:000

Crude oil settled higher today but posted sharp losses for the week, as concerns over a potential market shortfall of oil eased after Libyan ports reopened and on the possibility that Iran might still export some crude despite U.S. sanctions. More news on: The United States Oil ETF, LP,… read more...

Crude oil rebounds but ends with big weekly loss

via: SeekingAlpha at 2018-07-13 16:14:27:000

Crude oil settled higher today but posted sharp losses for the week, as concerns over a potential market shortfall of oil eased after Libyan ports reopened and on the possibility that Iran might still export some crude despite U.S. sanctions. More news on: The United States Oil ETF, LP,… read more...

U.S. rig count ticks higher, oil rigs flat

via: SeekingAlpha at 2018-07-13 13:13:02:000

The total U.S. rig count rose by 2 to 1,054, its second straight increase after three weeks of decline, according to the latest Baker Hughes survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy … read more...

U.S. rig count ticks higher, oil rigs flat

via: SeekingAlpha at 2018-07-13 13:13:02:000

The total U.S. rig count rose by 2 to 1,054, its second straight increase after three weeks of decline, according to the latest Baker Hughes survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy … read more...

J.P. Morgan ups oil price forecast, lowers demand growth outlook

via: SeekingAlpha at 2018-07-13 11:42:59:000

J.P. Morgan raises its outlook for oil prices while trimming its forecast for global crude demand growth this year amid increasing uncertainty over international trade. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Cru… read more...

J.P. Morgan ups oil price forecast, lowers demand growth outlook

via: SeekingAlpha at 2018-07-13 11:42:59:000

J.P. Morgan raises its outlook for oil prices while trimming its forecast for global crude demand growth this year amid increasing uncertainty over international trade. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Cru… read more...

COT Black: Futures Curve Twisting

via: SeekingAlpha at 2018-07-13 06:12:12:000

There is an interesting ongoing academic debate about what shape the crude oil futures curve "should" take. Quite naturally, it seems backwardation is the market baseline. Most people, I think, presume otherwise because of their familiarity with commodities like gold. Backwardation in that mar… read more...

COT Black: Futures Curve Twisting

via: SeekingAlpha at 2018-07-13 06:12:12:000

There is an interesting ongoing academic debate about what shape the crude oil futures curve "should" take. Quite naturally, it seems backwardation is the market baseline. Most people, I think, presume otherwise because of their familiarity with commodities like gold. Backwardation in that mar… read more...

Why The Future Of Energy Could Be U.S. Natural Gas

via: SeekingAlpha at 2018-07-13 05:11:32:000

By Bruce Blythe Geology dictates that crude oil and natural gas go hand-in-hand. Drill a well for one and theres a good chance youll also find the other. For years, oils coupling with gas (for better or worse) underpinned pricing and trading for a variety of petro… read more...

Why The Future Of Energy Could Be U.S. Natural Gas

via: SeekingAlpha at 2018-07-13 05:11:32:000

By Bruce Blythe Geology dictates that crude oil and natural gas go hand-in-hand. Drill a well for one and theres a good chance youll also find the other. For years, oils coupling with gas (for better or worse) underpinned pricing and trading for a variety of petro… read more...

Sanchez Stock Cheaper Than Last Year When Oil Was At $50

via: SeekingAlpha at 2018-07-12 09:41:18:000

It was around this time last year when I convinced myself that, given the improving outlook for oil prices, as well as the short-term profitability prospects improvement that Sanchez Energy ( SN ) gained from the Comanche acquisition, which included 132 gross wells drilled but not completed,… read more...

GlobalData Says: China And Indonesia Will Spearhead Global Oil Storage Capacity Growth

via: SeekingAlpha at 2018-07-12 08:47:40:000

China and Indonesia will be the major contributors for the growth of the global oil storage industry, as they are set to add the most planned storage capacity among all countries over the period 2018-2022, according to leading data and analytics company GlobalData . The company's report ' G… read more...

Not Exactly Paradox, Reflation In Oil Deflation In Copper

via: SeekingAlpha at 2018-07-12 07:03:37:000

The PBOC really needn't have conducted the last few of its RRR raises. By the time they were in the books, Chinese inflation was already well underway toward being tamed . Though their CPI wouldn't register for a few more months still, peaking in July 2011, commodities had already turned deci… read more...

Weekly Oil Storage Report - Record Crude Storage Draw But Near-Term Headwinds Persist

via: SeekingAlpha at 2018-07-12 06:49:06:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Highlight EIA reported the largest crude storage draw since September 2016 today. Crude storage declined 12.633 million bbls versus the 5-year average draw of 4.353 million bbls. The decline came largely on the back… read more...

IEA warns of output capacity limits

via: SeekingAlpha at 2018-07-12 05:05:42:000

After plunging 5% and nearing the sub-$70 level on Wednesday amid concerns about returning Libyan supply, crude is now attempting a slight rebound. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Top stock m… read more...

OPEC June Production Data

via: SeekingAlpha at 2018-07-12 02:06:02:000

All data below is from the OPEC Monthly Oil Market Report. All data is in thousand barrels per day and is through June 2018. The Republic of the Congo was added to OPEC this month. The data below does not reflect that addition. I will try to add them next month. OPEC 14 production was … read more...

Weekly Pricing Pulse: Rallying Oil Prices Halt The Commodity Price Retreat

via: SeekingAlpha at 2018-07-11 19:22:58:000

Our Materials Price Index (MPI) rose 0.5% last week, signaling the end of a two-week commodity price retreat. The rally was narrow, with only four sub-indexes increasing. Indeed, the strength in the MPI last week appears to be more of a pause in the commodity price retreat as opposed to the be… read more...

U.S. oil price plunges 5%, Brent -7% as Libyan production returns

via: SeekingAlpha at 2018-07-11 15:34:22:000

U.S. WTI crude oil suffers its worst one-day loss since June 2017 , settling -5% at $70.38/bbl, while Brent crude -6.9% to $73.40/bbl for its worst day in nearly two and a half years. More news on: Exxon Mobil Corporation, Chevron Corporation, BP p.l.c., Energy stocks news, Commoditie… read more...

Is The Crude Oil Bull Market Slowing Down?

via: SeekingAlpha at 2018-07-11 11:33:23:000

Running of the Bulls The annual running of the bulls in Pamplona, Spain, began under a week ago. The bull market in crude oil has been running for well over a year. Many a short seller has been caught in its horns. The 2018 daily chart for the continuous front-month contract for WTI crude … read more...

Crude futures pare losses post inventory data

via: SeekingAlpha at 2018-07-11 10:30:50:000

EIA Petroleum Inventories : Crude -12.6M barrels vs. -4.5M consensus, +1.2M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, Commodities news, Stocks on the move, News on… read more...

Crude oil plunges after Trump tariff threat, Libya ports reopen

via: SeekingAlpha at 2018-07-11 08:05:36:000

Brent crude oil -2.4% at $76.95/bbl, weighed by Pres. Trump's threat to pile another $200B in tariffs on Chinese goods and Libya's reopening of key oil export terminals; U.S. WTI crude -0.9% at $73.43/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPat… read more...

Escalating Trade Tensions Set Tone For Capital Markets

via: SeekingAlpha at 2018-07-11 07:08:15:000

The US took the first step in making good its threat to put a 10% tariff on $200 bln of Chinese goods in response to the PRC retaliating for the 25% tariff on $34 bln of its exports. The US provided a list of products that will get the new tariffs after the public comment period is complet… read more...

U.S. to become world's top oil producer?

via: SeekingAlpha at 2018-07-11 04:57:52:000

"In 2019, EIA forecasts that the United States will average nearly 12M barrels of crude oil production per day," said Linda Capuano, Administrator of the EIA. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Ne… read more...

U.S. crude supply fell 6.8M barrels last week, API says

via: SeekingAlpha at 2018-07-10 18:11:30:000

The American Petroleum Institute reportedly shows a draw of 6.79M barrels of crude oil for the week ending July 6, vs. a draw of 4.5M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ET… read more...

Oil Trade: What Saudis Giveth, Trade Rhetoric Taketh Away

via: SeekingAlpha at 2018-07-10 14:31:30:000

While generally upbeat economic news prevails over markets, other news holds significance for oil and gas markets. The news about the Saudi Aramco (ARMCO) IPO being stalled or possibly reversed says several things about the state of oil markets and about the price outlook. Count on the Sau… read more...

Is Oil Really Dead?

via: SeekingAlpha at 2018-07-10 06:03:02:000

How big of a threat are renewable energies and electric cars to the oil industry and oil prices? It's a question more than a few investors have an interest in answering, given that the Energy sector is about 6% of the S&P 500 market capitalization (which is down from around 16% in 2008). T… read more...

Norway strike adds to oil disruptions

via: SeekingAlpha at 2018-07-10 05:56:10:000

Escalating concerns over potential supply shortages had oil on the rise overnight. More news on: Royal Dutch Shell plc, Royal Dutch Shell plc, The United States Oil ETF, LP, News on ETFs, Energy stocks news, Commodities news, Top stock market news, Read more … read more...

OPEC Meeting Has Concluded, What Now? The Oil Bull Thesis Continues

via: SeekingAlpha at 2018-07-09 17:52:58:000

Over the last month, market participants who did not understand oil ( USO ) market fundamentals thoroughly were likely shaken out of the market. There were at times when the shakeout was so swift and coincided with major support breaks that anyone who even doubted the thesis a little were dest… read more...

Aramco IPO Cancellation Won't Affect Oil Trend Higher

via: SeekingAlpha at 2018-07-09 11:05:42:000

Word is spreading that the long-awaited Aramco ( ARMCO ) IPO is going to be cancelled. This follows a report in the Wall Street Journal late last week quoting an unnamed Aramco executive who said, "Everyone is almost sure it is not going to happen." Interestingly, the short-term effect on th… read more...

OIL Weekly: Oil Geopolitics Are Back

via: SeekingAlpha at 2018-07-09 10:06:05:000

Introduction Welcome to my Oil Weekly report. In this report, I wish to discuss about crude oil inventories and net speculative positioning changes, based respectively on the Weekly Energy Information Administration ((EIA)) report and the Commodity Futures Trading Commission ((CFTC)) estim… read more...

Why The Coming Oil Crunch Will Shock The World

via: SeekingAlpha at 2018-07-08 21:29:53:000

And why we need a new energy strategy - fast My years working in corporate strategy taught me that every strategic framework, no matter how complex (some I worked on were hundreds of pages long), boils down to just two things: Where do you want to go? (Vision) How are you going to ge… read more...

Crude Oil: Fundamentals Bullish But One Reason To Worry

via: SeekingAlpha at 2018-07-08 16:00:01:000

When we last looked at crude oil we concluded that the "smart-money" was completely clueless on the direction of the commodity. We believed then that the price was due for a pullback but the longer term direction was firmly entrenched in an uptrend. Oil itself has had a sensational run a… read more...

This Week In Money - July 7, 2018

via: SeekingAlpha at 2018-07-08 02:09:25:000

Rick Rule Gold, Silver, USD, Uraniuim, Oil and NAFTA. Wolf Richter Automotive Sector, Tariffs, Interest Rates, Real Estate. Larry Reaugh - President & CEO of American Manganese Inc. Produced by Read more … read more...

Open Square Q2 2018 Letter: Weightless

via: SeekingAlpha at 2018-07-06 23:03:37:000

As always, we welcome your comments. If you would like to read more of our articles, please be sure to hit the "Follow" button Read more … read more...

Count for both U.S. total rigs, oil rigs rise by 5

via: SeekingAlpha at 2018-07-06 13:13:14:000

The total U.S. rig count increased by 5 to 1,052 following three straight weeks of decline, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy … read more...

Crude oil prices could 'super-spike' above $150/bbl, Bernstein warns

via: SeekingAlpha at 2018-07-06 12:05:58:000

Crude oil prices could spike to all-time highs above $150/bbl because big oil companies are investing too little money in new production, Bernstein Research forecasts. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crud… read more...

WTI crude oil reverses early losses but still on pace for weekly decline

via: SeekingAlpha at 2018-07-06 11:24:14:000

U.S. crude oil turns green in recent trade, possibly in reaction to a report that the delay in the Syncrude oil sands facility outage in Canada could be extended to the end of August or September; WTI +0.7% at $73.50/bbl but Brent -0.5% at $76.96/bbl. More news on: The United States … read more...

Weekly Oil Storage Report - Elevated Imports Push Crude Storage Higher

via: SeekingAlpha at 2018-07-06 09:00:00:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Highlight US crude storage rose this week by 1.245 million bbls versus our forecast for a draw of ~3 million bbls. The big delta that pushed crude storage higher this week was a sudden surge in Canadian oil imports,… read more...

Crude Oil Makes Another New High This Week

via: SeekingAlpha at 2018-07-06 06:15:00:000

Crude oil continues to be the strongest commodity out there these days. As precious metals recently fell to their lowest level of the year, copper fell below a critical support level, grains are feeling the pain of tariffs, and many other raw material prices are under pressure, crude oil keeps… read more...

WSJ: Doubts grow that Saudi Aramco IPO will ever happen

via: SeekingAlpha at 2018-07-05 15:03:59:000

Preparations have stalled in the IPO of Saudi Aramco after more than two years of preparation, leaving government officials and people close to the process doubting that it will go forward at all, WSJ reports. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total … read more...

U.S. crude turns sharply lower after unexpected increase in stockpiles

via: SeekingAlpha at 2018-07-05 12:33:48:000

U.S. crude oil futures tumble after U.S. data shows a surprise rise in domestic crude inventories and the first increase in four weeks; WTI crude -1.2% at $73.25/bbl, Brent -0.1% at $78.16/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P … read more...

Commodities set to rise as trade war fears oversold, Goldman analysts say

via: SeekingAlpha at 2018-07-05 11:36:03:000

Goldman Sachs remains bullish on commodities , saying concerns about a potential U.S.-China trade war, demand weakness in emerging markets and oil producers' decision to increase production have been oversold, and even commodities most exposed to trade war risks are worth buying. More new… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-07-05 11:00:46:000

EIA Petroleum Inventories: Crude +1.2M barrels vs. -5.2M consensus, -9.9M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, Commodities news, Stocks on the move, News on … read more...

Trump demands more from OPEC, Iran threatens

via: SeekingAlpha at 2018-07-05 03:25:25:000

Linking U.S. foreign policy to oil prices? More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, News on ETFs, Commodities news, Energy stocks news, Top stock market news, Read more … read more...

While The U.S. Was On Holiday - Wednesday Summary

via: SeekingAlpha at 2018-07-04 21:35:56:000

The inability of the S&P 500 to hold on to gains on Tuesday and the poor finish weighed on Asian equities on Wednesday. The MSCI Asia Pacific Index slipped 0.2% and posted its lowest close in nine months. The Chinese yuan, which is under close international scrutiny with many suspecting… read more...

Permian Bottlenecks Come At The Worst Moment

via: SeekingAlpha at 2018-07-04 21:15:39:000

The growing number of supply outages around the world is causing the oil market to become a lot more volatile, putting extra emphasis on every barrel that does or does not make it to market. That makes the infrastructure bottlenecks in West Texas a global concern. There is quite a bit of deb… read more...

Happy July Fourth, America! Celebrating The U.S. Energy Revolution

via: SeekingAlpha at 2018-07-04 10:51:27:000

By Stacey Morris In just ten years, the US energy landscape has radically changed. Ten years ago, the headlines we take for granted today about record US oil production and energy independence would have been a pipe dream. In conjunction with tomorrows July Fourth holiday, we take … read more...

U.S. crude sellers slash prices to Asia

via: SeekingAlpha at 2018-07-04 10:20:24:000

Panicking about a trade war, sellers of U.S. sour crude oil have cut their offers for Asian buyers, multiple trade sources told Reuters. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, News on ETFs, Global new… read more...

USA And World Oil Production

via: SeekingAlpha at 2018-07-04 08:44:34:000

All data below is from various sources. All US data is from the EIA. Unless otherwise noted, is in thousand barrels per day. USA data is through April. C+C production was almost flat in April, down 2,000 bpd. Texas through April. Texas production was up 30,000 bpd in April. North Dakota … read more...

Oil Smacks Into Line Of Resistance

via: SeekingAlpha at 2018-07-04 08:42:04:000

Gold beaten up but promising long term Produced by Read more … read more...

Oil Supply Continues To Trend Lower

via: SeekingAlpha at 2018-07-04 08:02:59:000

Thursday this week, markets will get another look at oil inventory levels with the release of the weekly EIA Petroleum Status Report . The past few weeks have confirmed strong declines in oil inventory levels. Last week's drawdown was 9.9 million barrels, and the prior week saw a contraction … read more...

The Yuan Airbrake

via: SeekingAlpha at 2018-07-04 02:33:23:000

By Stephen Innes Thankfully for regional risk, the PBoC engaged the yuan airbrake yesterday afternoon, and at least for the time being, with the help of Chinese state-owned banks that were seen selling dollars to prop up the Chinese currency, is restoring a sense of calm in regional market… read more...

Technically Speaking: 2nd Half Starts With A Fumble Recovery

via: SeekingAlpha at 2018-07-03 21:42:15:000

On Monday, the market opened the 2nd half of the year with a fumble as Wall Street continues to wrestle with the uncertainty stemming from the White House with regard to tariffs, geopolitical risks, and economic growth. After a sloppy open with the S&P 500 down 14 points, investors managed… read more...

U.S. crude supply fell 4.5M barrels last week, API says

via: SeekingAlpha at 2018-07-03 17:11:48:000

The American Petroleum Institute reportedly shows a draw of 4.5M barrels of crude oil for the week ending June 29, vs. a draw of 9.23M barrels in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude E… read more...

Crude Reality: Is $100 The Next Stop?

via: SeekingAlpha at 2018-07-03 16:44:25:000

The productivity miracle of the 20th and early 21st centuries was fueled by crude oil and its derivatives. Diesel made from crude oil powered tractors and combines. Farmers, aided by fertilizers synthesized from the same, produced exponentially more food on the same land, leading to rapid po… read more...

Morgan Stanley lifts Brent oil forecast to $85, seeing undersupplied market

via: SeekingAlpha at 2018-07-03 14:23:11:000

Morgan Stanley raises its forecast for Brent crude prices by $7.50 to $85/bbl for H2 of 2018, believing the U.S. may succeed in blocking much of Irans 2.7M bbl/day supply. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Re… read more...

Refiners: Not All Crack Spreads Are Created Equal

via: SeekingAlpha at 2018-07-03 12:52:42:000

When following refiners, like Valero ( VLO ) or PBF Energy ( PBF ), its critical to monitor whats happening to crack spreads. These basically represent the refining margin available to refiners, by taking the value of the end products (gasoline, heating oil, etc) and comparin… read more...

Playing Oil Short After The Holiday

via: SeekingAlpha at 2018-07-03 11:03:37:000

The July 4th holiday is expected to be a huge travel weekend , with 47M people expected to travel for the holidays - 2.1M by plane! That's the most in 20 years but only really a 1-2% increase over last year yet gasoline (/RB) is selling at retail for $2.87 per gallon vs $2.28 last year so… read more...

So long $75 crude oil

via: SeekingAlpha at 2018-07-03 10:47:40:000

Crude oil futures, which breached $75/barrel earlier this morning for the first time since 2014, drop off a cliff after Al Jazeera reports that Saudi has agreed to U.S. demands to pump more oil. More news on: Sparton Corporation, The United States Oil ETF, LP, ProShares Ultra Bloomberg C… read more...

Is The Oil Industry Canada's 'Deep State'?

via: SeekingAlpha at 2018-07-03 08:10:15:000

Justin Trudeau and Canadas political elite is fighting for the Tar Sands and oil industrys interests, even if it means Canada misses all of its climate targets. Kevin Taft, ex-Liberal Party politician and author of Oils Deep State. Here is a direct … read more...

Crude oil futures point higher

via: SeekingAlpha at 2018-07-03 04:59:43:000

Crude oil prices are looking to recover from yesterday's dip as the focus returns to potential supply disruptions in Libya and Venezuela. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Commo… read more...

Latest Oil Volatility Presents New Opportunities For Writing Calls And Puts

via: SeekingAlpha at 2018-07-03 02:55:07:000

Video Transcript Good afternoon. This is James Cordier of OptionSellers.com with a market update for July 2 nd . Well, with the first half of 2018 now in the books, we start looking forward to the third and fourth quarter of what has been a very loud economic market. Talks of tariffs an… read more...

Trump, Saudis, Russians Could Beat The Oil Market Into Submission, Despite Iran And Venezuela

via: SeekingAlpha at 2018-07-03 02:05:27:000

"Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference…Prices to high! He has agreed!, Pres... read more...

Energy 2nd-Quarter Review And The Outlook For Q3 2018

via: SeekingAlpha at 2018-07-02 06:30:00:000

The energy sector posted gains during the second quarter of 2018, only the price of ethanol moved lower when it comes to the energy commodities that trade on U.S. futures exchanges. In 2014, the energy composite fell by 36.59% due to the swoon in crude oil, petroleum product, and natural gas… read more...

OIL Weekly: Supply Disruptions Set To Amplify OIL's Bullishness

via: SeekingAlpha at 2018-07-01 21:31:03:000

Introduction Welcome to my Oil Weekly report. In this report, I wish to discuss about crude oil inventories and net speculative positioning changes, based respectively on the Weekly Energy Information Administration ((EIA)) report and the Commodity Futures Trading Commission ((CFTC)) estim… read more...

Trump, Saudis agree to oil output boost

via: SeekingAlpha at 2018-07-01 09:37:10:000

Barely a week after OPEC's decision to ramp up crude supplies, President Trump surprised oil markets on Saturday by announcing a new side agreement with the Saudis - by increasing output by up to 2M bpd - to compensate for supply shortages from Iran and Venezuela. More news on: The Unite… read more...

Oil Update - June 2018

via: SeekingAlpha at 2018-07-01 07:59:40:000

While uncertainty surrounding oil prices remains, my expectation for July is that West Texas Intermediate will generally range between $65 and $75 per barrel. WTI prices might be up to five dollars per barrel outside of that range for a few days, but I expect that it should remain within that … read more...

Energy Recap: Power Vs. Energy, Some New Renewables Data

via: SeekingAlpha at 2018-06-29 19:03:00:000

Welcome to the latest edition of the Energy Recap. We're keeping it brief this week, but wanted to pass along a couple of quick, interesting reads. This article examines the "most misunderstood concept in renewable energy" - the definition of power vs. the definition of energy. And here ,… read more...

Energy Recap: Power Vs. Energy, Some New Renewables Data

via: SeekingAlpha at 2018-06-29 19:03:00:000

Welcome to the latest edition of the Energy Recap. We're keeping it brief this week, but wanted to pass along a couple of quick, interesting reads. This article examines the "most misunderstood concept in renewable energy" - the definition of power vs. the definition of energy. And here ,… read more...

Crude oil caps huge weekly gains amid global supply outages

via: SeekingAlpha at 2018-06-29 16:30:27:000

U.S. crude oil continues to sizzle , settling +1% at $74.15/bbl, its best closing price since November 2014 and capping a four-session winning streak on the back of declining crude inventories and rising concerns over supply disruptions. More news on: The United States Oil ETF, LP, Ene… read more...

Crude oil caps huge weekly gains amid global supply outages

via: SeekingAlpha at 2018-06-29 16:30:27:000

U.S. crude oil continues to sizzle , settling +1% at $74.15/bbl, its best closing price since November 2014 and capping a four-session winning streak on the back of declining crude inventories and rising concerns over supply disruptions. More news on: The United States Oil ETF, LP, Ene… read more...

EIA 914 - US Monthly Oil Production Disappoints To The Downside

via: SeekingAlpha at 2018-06-29 15:56:58:000

Welcome to the EIA 914 Edition of Oil Markets Daily! EIA 914 is out today, with U.S. April monthly oil production lower from the all-time high of 10.469 million b/d in March to 10.467 million b/d for April. In our last month's EIA 914 report, we said that April was likely going to come… read more...

EIA 914 - US Monthly Oil Production Disappoints To The Downside

via: SeekingAlpha at 2018-06-29 15:56:58:000

Welcome to the EIA 914 Edition of Oil Markets Daily! EIA 914 is out today, with U.S. April monthly oil production lower from the all-time high of 10.469 million b/d in March to 10.467 million b/d for April. In our last month's EIA 914 report, we said that April was likely going to come… read more...

Total U.S. rigs fall by 5, oil rigs down 4 in second straight decline

via: SeekingAlpha at 2018-06-29 13:15:23:000

The total U.S. rig count fell by 5 to 1,047 following last week's decrease of 7, according to Baker Hughes' latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, News o… read more...

Total U.S. rigs fall by 5, oil rigs down 4 in second straight decline

via: SeekingAlpha at 2018-06-29 13:15:23:000

The total U.S. rig count fell by 5 to 1,047 following last week's decrease of 7, according to Baker Hughes' latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, News o… read more...

Oil's bull run shows up in options

via: SeekingAlpha at 2018-06-29 10:47:32:000

Oil's big run higher in the last half of the month has brought back the bulls, with Bloomberg's Alex Longley reporting that WTI options are trading with a bullish skew for the first time in about six weeks. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return I… read more...

Oil's bull run shows up in options

via: SeekingAlpha at 2018-06-29 10:47:32:000

Oil's big run higher in the last half of the month has brought back the bulls, with Bloomberg's Alex Longley reporting that WTI options are trading with a bullish skew for the first time in about six weeks. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return I… read more...

World Energy 2018-2050: World Energy Annual Report (Part 1)

via: SeekingAlpha at 2018-06-29 08:26:09:000

By Dr. Minqi Li, Professor Department of Economics, University of Utah This is Part 1 of the World Energy Annual Report in 2018. This author has developed world energy annual reports that have been posted at Peak Oil Barrel since 2014. The purpose of this Annual Report is to provide update… read more...

World Energy 2018-2050: World Energy Annual Report (Part 1)

via: SeekingAlpha at 2018-06-29 08:26:09:000

By Dr. Minqi Li, Professor Department of Economics, University of Utah This is Part 1 of the World Energy Annual Report in 2018. This author has developed world energy annual reports that have been posted at Peak Oil Barrel since 2014. The purpose of this Annual Report is to provide update… read more...

3 Reasons Why Crude Oil Could Be On Its Way To Triple Digits Again

via: SeekingAlpha at 2018-06-28 17:53:32:000

The bullish trend in crude oil just celebrated its one year anniversary. On June 21, 2017, the energy commodity dropped to lows of $42.05 per barrel on the active month NYMEX futures contract. The move was a bit of a head fake for technical traders who watched as the price of oil futures fell … read more...

U.S. crude extends rally but oil and gas equities slow torrid rise

via: SeekingAlpha at 2018-06-28 13:07:21:000

The rally for U.S. crude oil prices shows no sign of letting up , as WTI rises another ~1% to $73.47/bbl after touching a three-and-a-half year high of $74.03 earlier in the session. More news on: Exxon Mobil Corporation, Chevron Corporation, BP p.l.c., Energy stocks news, Commodities new… read more...

Confusion Reigns Supreme

via: SeekingAlpha at 2018-06-28 01:37:51:000

By Stephen Innes Uncertainty and confusion around trade war are slowly but surely leading the markets down the road to financial meltdown. Global equity markets continue to fray at the edges on the streams of negative headlines, and none more so damning than a report from a Chinese governm… read more...

Weekly Oil Storage Report - Just A Matter Of Time

via: SeekingAlpha at 2018-06-27 17:08:17:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Highlight It's not very often you find even our bullish storage estimates surpassed by leaps and bounds. But that's exactly what happened two weeks in a row with US crude storage drawing materially higher than we ex… read more...

Crack Spreads Move Lower, A Warning For Refining Stocks

via: SeekingAlpha at 2018-06-27 12:15:56:000

In the world of commodities, processing spreads are the economics of making one product from another. Basic raw materials often require processing, refining, or treatment to become the products we consume every day or ingredients in those products. When farmers grow soybeans, the raw oilseed… read more...

Crude prices soar as oil stockpiles drop by nearly 10M barrels

via: SeekingAlpha at 2018-06-27 11:23:11:000

Crude oil prices extend earlier gains after the U.S. reported crude stocks fell by nearly 10M barrels last week, far more than expected, as refiners processed 17.8M bbl/day of crude, the most ever in a single week, and the U.S. exported a record high 3M bbl/day . More news on: Exxon Mob… read more...

Crude futures up on sharp inventory decline

via: SeekingAlpha at 2018-06-27 10:38:01:000

EIA Petroleum Inventories : Crude -9.9 M barrels vs. -2.6M consensus, -5.9M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, Commodities news, Stocks on the move, News o… read more...

How Much Energy Infrastructure Does North America Still Need?

via: SeekingAlpha at 2018-06-27 08:00:45:000

By Stacey Morris When we aren't being asked about topics like distribution growth, self-funding, restructurings, and the FERC policy revisions, investors often ask about the runway of growth for energy infrastructure. The impressive build out of pipelines, not to mention pipeline reversals… read more...

Renminbi Slide Continues And Oil Extends Surge

via: SeekingAlpha at 2018-06-27 06:49:28:000

The US dollar is mostly firmer today, though it has slipped back below the JPY110 level, as lower yields and equities support the Japanese yen. The main story in the foreign exchange market today is the continued slide in the Chinese renminbi. The decline is the sharpest since the 2015 deval… read more...

Is Oil On Its Way Back To $100?

via: SeekingAlpha at 2018-06-27 06:15:01:000

By FS Staff Listen to this podcast on our site by clicking here or subscribe on iTunes here . Oil prices are poised to head higher and are likely to spike in the years ahead, Robert Rapier, a chemical engineer and director of alternative-fuels technology for Advanced Green Innovat… read more...

Saudis plan record oil output in July

via: SeekingAlpha at 2018-06-27 05:02:03:000

New developments are taking place in the oil market as the U.S. pushes countries to halt all oil imports from Iran, OPEC's third largest producer, under the threat of sanctions. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X… read more...

Apple Pie And Harley-Davidson

via: SeekingAlpha at 2018-06-27 02:15:14:000

By Stephen Innes Say it ain't so China President Xi brought out the big guns: Warned leaders to be ready for a full-scale trade war with the US; also noted PBoC will refrain from buying US treasuries and will seek to reduce them "appropriately" - press citing Xi in meeting with other l… read more...

U.S. Gulf Coast Crude Export Capacity

via: SeekingAlpha at 2018-06-27 01:58:18:000

Today's blog is a guest post by Yuwen Li. He is a Data Analyst at ClipperData, specializing in domestic crude flows and U.S. crude exports. Yuwen holds a B.S. in Civil Engineering from Qingdao Technological University in China and an M.S. in Financial Engineering from NYU. In the week en… read more...

U.S. crude supply fell 9.2M barrels last week, API says

via: SeekingAlpha at 2018-06-26 17:10:06:000

The American Petroleum Institute reportedly shows a draw of 9.23M barrels of crude oil for the week ending June 22, vs. a draw of 3M barrels last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy st… read more...

Crude buyers must cut all Iranian oil imports by November, U.S. says

via: SeekingAlpha at 2018-06-26 12:51:25:000

U.S. WTI crude oil climbs above $70/bbl for the first time since May after the U.S. State Department says buyers of Iranian oil must wind down those purchases by November or risk sanctions; WTI +3.5% at $70.50/bbl, Brent +2.2% at $76.39/bbl. More news on: The United States Oil… read more...

China And India Establish 'Oil Buyers' Club' To Counter OPEC

via: SeekingAlpha at 2018-06-26 06:55:07:000

On June 11, major Chinese and Indian oil companies started a formal meeting in Beijing, discussing the establishment of an "oil buyers' club" to negotiate better prices with OPEC countries. The chairman of China's biggest energy company China National Petroleum Corporation (CNPC), Wang Yilin,… read more...

OPEC Meeting: Output Set To Jump

via: SeekingAlpha at 2018-06-26 06:30:09:000

By Warren Patterson, Commodities Strategist Heading into the OPEC meeting there were a range of predictions as to how much OPEC+ would increase output. Friday's OPEC meeting gave little detail, and as a result the market rallied strongly. However the OPEC+ meeting on Saturday offered… read more...

Not Out Of The Weeds Yet

via: SeekingAlpha at 2018-06-26 01:57:06:000

By Stephen Innes After yet another Monday morning equity meltdown in Asia and an equally poor showing across global equity markets, President Trump's lieutenants Mnuchin and Navarro issued an unequivocal denial the US is considering investment restriction on China. US equity markets have s… read more...

Game Over - Oil Prices Are Going Higher

via: SeekingAlpha at 2018-06-25 16:47:20:000

One of our favorite movie scenes comes from the movie "Rounders." It's very rare to have an investing situation line up almost perfectly with your forecast because there are so many elements of the unknown. For example, "What will the future be?" is a good starting point. But in the case of … read more...

OPEC Sends Oil Higher

via: SeekingAlpha at 2018-06-25 16:18:58:000

Last Friday, the oil ministers of OPEC, the international oil cartel, met at their biannual meeting in Vienna, Austria to agree on production policy for the rest of 2018. The market had expected a production increase from the cartel given the price appreciation over the past year. When the pri… read more...

Syncrude outage threatens North American shortage in July, boosting WTI

via: SeekingAlpha at 2018-06-25 12:48:33:000

The most dramatic event in the oil market last week occurred in Canada, not at the OPEC meeting in Vienna, according to Goldman Sachs analysts who say an outage at the Syncrude oil sands facility could lead to a shortage in North America for all of July and shrink stockpiles at the Cushi… read more...

Oil Market Underestimating OPEC's Seriousness, Saudi Oil Minister

via: SeekingAlpha at 2018-06-25 09:37:14:000

Prior to OPECs meeting on Friday, expectations for an agreement were low. "Every decision in OPEC needs unanimity, and I don't believe in this meeting we can reach agreement," Iranian Oil Minister Bijan Zanganeh told reporters. "I think it's going to be a bad meeting. I don't see h… read more...

No Rest For The Weary

via: SeekingAlpha at 2018-06-25 04:29:22:000

By Stephen Innes Another Trade-induced meltdown New Curbs on China investment! Another barrage of potential tariffs along with the US administration looking to impose International Emergency Economic Powers Act of 1977 to prohibit Chinese firms from investing in the US technology sec… read more...

Striking Options: 6/22 Trade Tariffs, Gold, And Equities

via: SeekingAlpha at 2018-06-25 00:00:49:000

Read more … read more...

Crude output deal for 2019 in the works

via: SeekingAlpha at 2018-06-24 07:28:30:000

OPEC and non-OPEC members are already considering an oil output deal for 2019, according to Russia's energy minister, after the the cartel of major crude producers agreed to raise production by 1M bpd from July. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total R… read more...

This Week In Money - June 23, 2018

via: SeekingAlpha at 2018-06-24 02:28:19:000

Ross Clark - TSX All Time High. Mary Anne Aden & Pamela Aden - Gold, Silver, Oil, Dow, US Dollar, Tariffs. Advice on Retirement. Eric Hadik - Cycles, Interest Rates, Currencies, Crude and Lumber. James Corbett - China, Tariffs, Trade War Larry Reaugh Preside… read more...

OPEC+ Increases Production: Oil Prices Could Rise

via: SeekingAlpha at 2018-06-23 04:33:37:000

At the recent Vienna meeting, OPEC+ "compromised" and agreed to increase oil production. Bart Melek, Global Head of Commodity Strategy, TD Securities, explains what higher oil output could mean for Canadian producers and why crude oil prices could Read more … read more...

Energy Recap: New OPEC Deal Set To Increase Oil Production

via: SeekingAlpha at 2018-06-22 19:03:00:000

Welcome to the latest edition of the Energy Recap. Earlier today, June 22, OPEC officials announced that they will "increase their total output by around 1 percent of the global oil supply. Though a relatively small addition to the world energy market, the move nevertheless signals a willing… read more...

U.S. crude spikes more than $3/bbl in biggest daily gain since 2016

via: SeekingAlpha at 2018-06-22 16:39:07:000

WTI crude oil futures soared $3.04 ( +4.6% ) to settle at $68.58/bbl, marking its biggest one-day percentage and net dollar increase since November 2016, following OPEC's agreement to lift production; Brent crude also rose, settling $2.50 higher ( +3.4% ) at $75.55/bbl. More news on: … read more...

U.S. rig count slips; oil rigs fall for first time in 12 weeks

via: SeekingAlpha at 2018-06-22 13:22:56:000

The total U.S. rig count fell by 7 to 1,052 following last week's decrease of 3, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news… read more...

Energy stocks rally after OPEC agrees to moderate production boost

via: SeekingAlpha at 2018-06-22 11:23:49:000

We have an agreement for a nominal production increase of 1M bbl/day , Saudi Energy Minister Khalid Al-Falih says, sending energy companies to the top of today's stock market leaderboard. More news on: Exxon Mobil Corporation, Chevron Corporation, ConocoP… read more...

TGIF - Dow's Down Week Comes To A Close

via: SeekingAlpha at 2018-06-22 10:43:43:000

It's been 8 days in a row that the Dow has traded down, after topping out at 25,400 back on June 11th and having tested 24,400 for an even 1,000-point drop yesterday afternoon. That's right about a 4% correction on the nose and the 5% line is 24,130 so, if we assume that is the full pullback (… read more...

Crude oil prices jump in reaction to OPEC deal

via: SeekingAlpha at 2018-06-22 09:39:35:000

Crude oil prices soar as OPEC reaches a deal to moderately increase production; WTI +3.3% at $67.69/bbl, Brent +2.7% at $75.07/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Co… read more...

OIL Weekly: Is OPEC Tightening Done?

via: SeekingAlpha at 2018-06-22 09:31:51:000

Introduction Welcome to my Oil Weekly report. In this report, I wish to discuss about crude oil inventories and net speculative positioning changes, based respectively on the Weekly Energy Information Administration ((EIA)) report and the Commodity Futures Trading Commission ((CFTC)) estim… read more...

Reports: OPEC to announce agreement in principle for 1M bbl/day increase

via: SeekingAlpha at 2018-06-22 08:17:42:000

OPEC ministers have reached an agreement in principle for a 1M bbl/day increase in nominal production, effective July 1, according to initial reports. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy stocks… read more...

OPEC struggles for production deal

via: SeekingAlpha at 2018-06-22 05:39:57:000

Laying the groundwork all week for today's biannual meeting in Vienna, OPEC members, Russia and major producers are likely to ease supply constraints that have been in place since January 2017. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Vel… read more...

Saudi's Pre-OPEC Meeting Ramp-Up

via: SeekingAlpha at 2018-06-22 03:16:17:000

As discussed on CNBC Asia on Wednesday night , Core OPEC has been ramping up exports this month ahead of tomorrow's OPEC meeting in Vienna. Historically, production typically rises ahead of an OPEC quota hike, and this time looks no different. Saudi Arabia, Kuwait and UAE - the key proponen… read more...

Crude Oil Coming Into The OPEC Meeting

via: SeekingAlpha at 2018-06-21 15:01:46:000

Tomorrow, the oil ministers of OPEC, the international petroleum cartel, will issue an official statement concerning production policy for the coming six months and perhaps into 2019. OPEC meets on a biannual basis and has a long history of influencing the price of the energy commodity with ch… read more...

Crude oil tumbles as OPEC looks set to pump more

via: SeekingAlpha at 2018-06-21 08:07:45:000

Crude oil prices are pummeled as OPEC appears on the verge of reaching an agreement to increase production; U.S. WTI -1.5% at $64.69/bbl, Brent -1.7% at $73.47/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index… read more...

Iran signals support for OPEC output increase

via: SeekingAlpha at 2018-06-21 05:25:52:000

As the diplomatic back-and-forth continues in Vienna, delegates are now increasingly positive that a deal will be reached at tomorrow's biannual meeting of OPEC countries. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Cr… read more...

Onwards And Upwards

via: SeekingAlpha at 2018-06-21 02:15:58:000

By Stephen Innes Midday update Dollar watch is on Subtle USD appreciation setting in again with USDJPY +110.60 and EURUSD to 1.1560 has triggered a move lower in gold, which is now testing $1265 handle. The next tipping point is $1261 while topside resistance remains the previous… read more...

OPEC Meeting, Saudi Aramco And The State Of Commodities

via: SeekingAlpha at 2018-06-20 17:19:36:000

Because of the diminished long-term return on invested capital and the inability for many commodity companies to build what Mr. Buffett and Morningstar call the "sustainable moat", clients have never owned substantial positions in commodity companies for longer periods of time. Yes, Alcoa (AA)… read more...

Weekly Oil Storage Report - Imbalance Set To Worsen

via: SeekingAlpha at 2018-06-20 17:15:02:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Highlight EIA reported a much steeper crude storage draw than we expected this week. The 5.914 million bbl decline came on the heels of record refinery throughput of 17.7 million b/d and elevated US crude exports of… read more...

U.S. crude settles higher as stockpiles jump by most since January

via: SeekingAlpha at 2018-06-20 15:43:52:000

U.S. crude oil futures settled higher after government data showed the biggest weekly decline in U.S. crude supplies since January; July WTI crude closed +1.8% to $66.22/bbl, while Brent crude -0.5% to $74.74. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ET… read more...

Most Likely Outcome Of OPEC Meeting Will Be An Oil Price Rally

via: SeekingAlpha at 2018-06-20 12:31:06:000

The main reason the markets moved to sell oil in the past month or so has been the rumor that Russia and Saudi Arabia may seek to increase production by as much as 1.5 mb/d at the upcoming OPEC meeting. After years of the market worrying about a supply glut, it makes sense that the market is… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-06-20 10:30:45:000

EIA Petroleum Inventories : Crude -5.9 M barrels vs. -2.1M consensus, -4.1M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, News on the U.S. economy, Commodities news, … read more...

Will We Hold It Wednesday - NYSE 12,800 Edition

via: SeekingAlpha at 2018-06-20 10:21:51:000

Coming back or just bouncing? 12,800 is the Must Hold line on the NYSE, meaning it's very bearish to be below that on the broad index and we finished the day yesterday at 12,638 and, so far, this morning's bounce isn't going to fix things. Back on May 26th, when the NYSE last tested 12,800, … read more...

GoM: First Quarter 2018, Production Summary

via: SeekingAlpha at 2018-06-20 08:26:50:000

By George Kaplan Crude and Condensate BOEM has March 2018 production at 1,696 kbpd, which is down 1% month on month and 4% year on year (March 2017 was the peak production month for GoM so far). EIA numbers were very similar, although last month's were higher and haven't been revised… read more...

Are Energy Stocks Catching Up To Crude?

via: SeekingAlpha at 2018-06-20 08:00:37:000

By Stacey Morris Energy investors, and particularly MLP investors, have likely been frustrated with the lagging performance of energy stocks relative to the improvement in crude prices. We discussed this at length in our white paper on crude correlations and MLPs from December 2017. In A… read more...

OPEC ready for battle in Vienna

via: SeekingAlpha at 2018-06-20 04:37:06:000

"Oil is not a weapon - it is not a political tool to be used against some countries, producers or consumers," Iranian Oil Minister Bijan Zanganeh declared , following tweets from President Trump that sought to hold OPEC accountable for an upswing in oil prices. More news on: The United St… read more...

Chinese Tariffs And U.S. Energy Flows

via: SeekingAlpha at 2018-06-20 02:38:50:000

Tensions were already running high betwixt the U.S. and China before trade threats were ratcheted up once more this week. As we know all too well, all paths lead back to energy: hence, commodity flows will likely feel the brunt of the current collywobbles. China is now the leading destinatio… read more...

U.S. crude supply drops 3M barrels, API says

via: SeekingAlpha at 2018-06-19 17:42:20:000

The American Petroleum Institute reportedly has a 3 .02M-barrel drop in U.S. crude stockpiles over the week ended June 15, vs last week's buildup of 833,000 barrels. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude E… read more...

What Will OPEC And Russia Agree On In This Meeting?

via: SeekingAlpha at 2018-06-19 16:19:05:000

The oil market suffered its fourth straight week of decline. With OPEC oil prices reduced by 10% in just the span of a month due to renewed rhetoric about the potential to flood the market to the tune of ~1.5 million b/d. The news outlets nonstop fake news from anonymous sources do not… read more...

Who Wins As Oil Price Differentials Widen In The Permian Basin?

via: SeekingAlpha at 2018-06-19 10:29:49:000

A complex quandary is currently happening in the Permian Basin. Basis-differentials. In the energy sector, a basis-differential represents the difference in prices between locations. For example, the price received by a producer for a barrel of oil sold in Cushing, Okla., the WTI benchmark, is… read more...

Crude Oil Prices Have Likely Peaked

via: SeekingAlpha at 2018-06-19 07:41:11:000

This article looks at the data provided by the June 2018 Short Term Energy Outlook, published by the US Energy Information Administration and analyzes the likely implications for crude oil prices. Factors that influence crude oil price Crude oil prices are influenced by many different fa… read more...

World Cup Effect Weighing On Volumes

via: SeekingAlpha at 2018-06-19 02:29:07:000

By Stephen Innes Trade War Escalation That was quick and sudden and reminding us just how quickly things can get right out of hand. On the back of Secretary of State Mike Pompeo mincing few words by branding China's openness and globalisation as a joke, President Trump has asked the … read more...

EIA DPR - US Oil Production On Pace For Record Growth This Year

via: SeekingAlpha at 2018-06-18 16:48:58:000

Welcome to the EIA DPR Edition of Oil Markets Daily! Summary EIA released its highly anticipated monthly drilling productivity report (DPR) today, and there were a few big changes to note. For one, we made a positive upward revision to US oil production growth from 2018 to 2020 to th… read more...

Crude oil rises; China tariffs could slow surging U.S. crude exports

via: SeekingAlpha at 2018-06-18 16:08:49:000

Crude oil prices settled higher in a volatile session ahead of this week's OPEC meeting, which could bring a production increase by major producers: U.S. WTI closed +1.2% to $65.85/bbl after earlier touching a two-month low at $63.59, while Brent recently was +2.5% at $75.29/bbl. Mo… read more...

Oil Markets Ignoring Libyan Production Outages For Now

via: SeekingAlpha at 2018-06-18 11:49:41:000

Source: Reuters, Unit: Thousand Barrels Per Day On Thursday morning, there were headlines on renewed Libyan violence which led to the shutdown of two of their largest oil export terminals. After months of stable production at around 1 million barrels per day (mmbd), Libya was looking ahead… read more...

A Renewed Oil Interest On Alaska's North Slope

via: SeekingAlpha at 2018-06-18 05:21:08:000

Alaska's North Slope receives little attention give the focus on North America unconventionals. In recent months, the North Slope has quietly been attracting investment and activity. Kareemah Mohamed, an expert in basin strategies and resource evaluation, provides an overview of the North Slo… read more...

Market Movers: June OPEC Meeting

via: SeekingAlpha at 2018-06-18 05:15:37:000

Read more … read more...

Mario Draghi, The Master Of The Dark Art Of Central Bank Communiqué

via: SeekingAlpha at 2018-06-18 02:38:08:000

By Stephen Innes After last week's dramatic price action dubbed "the biggest week of the year" we have another potpourri of events to side-track from the World Cup games this week. There's more than enough risk events to keep things exciting with a plethora of central bank decisions and sp… read more...

Iran threatens to veto any OPEC supply increase

via: SeekingAlpha at 2018-06-17 10:30:07:000

We as Iran, and I hear Iraq and Venezuela, are against any increase in OPEC production," Irans OPEC representative Hossein Kazempour Ardebili told Bloomberg today. "This requires unanimity. Three OPEC founders are going to stop it." More news on: The United States Oil ETF, … read more...

Bulls Keep It Together

via: SeekingAlpha at 2018-06-17 09:14:12:000

As we said last week: "As shown, there is a significant amount of overhead resistance between 2780 and 2800 which may present a challenge in the short-term to a further advance. However, I suspect any weakness next week will likely provide a decent opportunity to increase equity exp… read more...

Energy Recap: OPEC Meeting On The Horizon

via: SeekingAlpha at 2018-06-15 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to get your thoughts on the upcoming OPEC meeting, which is set to take place on June 22 and 23 in Vienna. Many analysts think that OPEC and other exporters, including Russia, are going to reverse the supply cuts that have… read more...

Energy Recap: OPEC Meeting On The Horizon

via: SeekingAlpha at 2018-06-15 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to get your thoughts on the upcoming OPEC meeting, which is set to take place on June 22 and 23 in Vienna. Many analysts think that OPEC and other exporters, including Russia, are going to reverse the supply cuts that have… read more...

Oil prices plunge ahead of next week's OPEC meeting; energy stocks whacked

via: SeekingAlpha at 2018-06-15 15:56:30:000

Oil prices settled sharply lower , with Brent crude ending at a six-week low, as Saudi Arabia and Russia appear ready to raise production at next week's OPEC meeting in Vienna. More news on: Exxon Mobil Corporation, Chevron Corporation, Chesapeake Energy Corporation, Energy stocks news, … read more...

Oil prices plunge ahead of next week's OPEC meeting; energy stocks whacked

via: SeekingAlpha at 2018-06-15 15:56:30:000

Oil prices settled sharply lower , with Brent crude ending at a six-week low, as Saudi Arabia and Russia appear ready to raise production at next week's OPEC meeting in Vienna. More news on: Exxon Mobil Corporation, Chevron Corporation, Chesapeake Energy Corporation, Energy stocks news, … read more...

U.S. rig count slips by 3 but oil rigs edge higher by 1

via: SeekingAlpha at 2018-06-15 13:12:00:000

The total U.S. rig count fell by 3 to 1,059 following last week's increase of 2, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news… read more...

U.S. rig count slips by 3 but oil rigs edge higher by 1

via: SeekingAlpha at 2018-06-15 13:12:00:000

The total U.S. rig count fell by 3 to 1,059 following last week's increase of 2, according to the latest weekly survey from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news… read more...

A Crude Oil Bottom In June?

via: SeekingAlpha at 2018-06-15 07:32:00:000

Crude oil hit a speed bump after the nearby NYMEX futures contract hit highs of $72.90 on May 22, and Brent crude futures peaked at $80.50 per barrel. The rally in crude oil was in its twelfth month when the upside trajectory ran out of steam. While shale output in the U.S. increased dramati… read more...

A Crude Oil Bottom In June?

via: SeekingAlpha at 2018-06-15 07:32:00:000

Crude oil hit a speed bump after the nearby NYMEX futures contract hit highs of $72.90 on May 22, and Brent crude futures peaked at $80.50 per barrel. The rally in crude oil was in its twelfth month when the upside trajectory ran out of steam. While shale output in the U.S. increased dramati… read more...

The Oil Price Is At A Crossroads

via: SeekingAlpha at 2018-06-15 06:38:39:000

Original Post By Stuart Burns After a sharp run-up from the middle last year, the oil price is hovering below U.S. $80 per barrel. The market is finely balanced in terms of threats to supply and still has robust demand growth. Capacity cuts implemented by Russia, OPEC and a number … read more...

The Oil Price Is At A Crossroads

via: SeekingAlpha at 2018-06-15 06:38:39:000

Original Post By Stuart Burns After a sharp run-up from the middle last year, the oil price is hovering below U.S. $80 per barrel. The market is finely balanced in terms of threats to supply and still has robust demand growth. Capacity cuts implemented by Russia, OPEC and a number … read more...

June And July Commodity Seasonality Stats

via: SeekingAlpha at 2018-06-15 01:49:33:000

This is my weekly update that covers seasonal trends and the term structure of futures contracts. All of the below data and graphs come from my Commodity Seasonality website. The website is completely free, and I use Seeking Alpha as my sole outlet for weekly recap articles. I break down the u… read more...

June And July Commodity Seasonality Stats

via: SeekingAlpha at 2018-06-15 01:49:33:000

This is my weekly update that covers seasonal trends and the term structure of futures contracts. All of the below data and graphs come from my Commodity Seasonality website. The website is completely free, and I use Seeking Alpha as my sole outlet for weekly recap articles. I break down the u… read more...

Fixing The Permian Mismatch: Upstream Growth And Midstream Takeaway Capacity

via: SeekingAlpha at 2018-06-14 11:39:52:000

What happens in the Permian Basin of West Texas and New Mexico reverberates through oil markets around the world - even all the way to the region's namesake, Perm, Russia. The new IHS Markit outlook for the Permian to 2023 projects crude oil production could reach 5.4 million barrels per day (… read more...

U.S. crude poised for fourth straight gain as Saudi's Falih sees supply boost

via: SeekingAlpha at 2018-06-14 10:20:28:000

U.S. crude oil edges higher , perhaps headed for its fourth straight daily gain amid upbeat sentiment following the latest inventory report on domestic supplies that showed the largest one-week drop since the end of March; WTI +0.4% at $66.94/bbl while Brent crude lags, -0.2% at $… read more...

Geopolitics Faded Out, Oil Fundamentals Are Back In The Forefront; But The June 22 OPEC Meeting Could Throw A Curve Ball

via: SeekingAlpha at 2018-06-14 05:33:08:000

In last months Capital Observer (May 11, 2018 - a limited circulation finance magazine), we noted that geopolitics and fundamentals were colliding in the oil price discovery process, and we asked rhetorically which one will win? At that time, oil fundamentals have already beco… read more...

The Good And Bad News About VLO

via: SeekingAlpha at 2018-06-14 04:16:43:000

VLO's rapid rise has also become the speed of its descent. Back in mid-April, we forecast a $124 price objective for Valero Energy Corporation (VLO). At the time, the oil refiner's stock was trading at the $105 level. I'm happy to say that our target was hit on May 31. That's actually … read more...

Back To The Drawing Board

via: SeekingAlpha at 2018-06-14 02:34:07:000

By Stephen Innes Despite a hawkish Fed hike last night, the USD failed to rally. Without reading too much into the usual FOMC exercise in verbal gymnastics, the USD couldn't find a grip above near-term resistance after US 10-year Treasuries could not break above 3% when Chair Powell remind… read more...

Weekly Oil Storage Report - Be Careful What You Wish For

via: SeekingAlpha at 2018-06-13 16:03:30:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Note: The estimate of this portion is only available to HFI Research subscribers. Highlights Following last week's one-time anomaly in refined product demand, EIA shows products supplied jumping 3.346 million b/d we… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-06-13 10:30:51:000

EIA Petroleum Inventories : Crude -4.1M barrels vs. -1.4M consensus, +2.1M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, News on the U.S. economy, Commoditie… read more...

Trump again says oil prices too high

via: SeekingAlpha at 2018-06-13 08:27:49:000

Crude oil is little changed by Pres. Trump's latest tweet expressing unhappiness with OPEC inaction to bring down prices:U.S. WTI crude -0.5% at $66.02/bbl, Brent -0.1% at $75.83/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crud… read more...

5 Fascinating Takeaways From The 2018 EIA Energy Conference

via: SeekingAlpha at 2018-06-13 08:00:40:000

By Stacey Morris Last week, I attended the Energy Information Administration's 2018 Energy Conference. While interesting data points were plentiful, today's note focuses on five macro takeaways that were particularly fascinating. Several conference presentations have been posted on the EI… read more...

Crunch Time For OPEC

via: SeekingAlpha at 2018-06-13 07:00:58:000

By Warren Patterson, Commodities Strategist OPEC members descend on Vienna next week for the official semi-annual meeting on June 22. Will members of the OPEC+ deal decide to ease production cuts? While some members appear to be against the idea, we believe that we will see a gradual l… read more...

IEA: Current oil prices here to stay

via: SeekingAlpha at 2018-06-13 04:34:40:000

"[Crude] prices are unlikely to increase as sharply as they did from mid-2017 onwards and thus the dampening effect on demand will be reduced," according to the IEA's latest monthly report. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Veloc… read more...

The World Cup And Oil

via: SeekingAlpha at 2018-06-12 23:33:48:000

Russia and Saudi Arabia play each other to open the World Cup on June 14. Soccer may not explain the world as well as Foer traces in his famous 2004 book (How Soccer Explains the World), but it may set the stage for the oil producers' meeting next week. Neither country's football team is re… read more...

OPEC May Oil Production

via: SeekingAlpha at 2018-06-12 18:50:58:000

All OPEC data below is from the OPEC Monthly Oil Market Report . All OPEC data is in thousand barrels per day and is through May 2018. OPEC 14 Crude oil production was up 35,000 barrels per day, but that was after March production had been revised down by 32,000 bpd and April production w… read more...

U.S. crude supply rose 833K barrels last week, API says

via: SeekingAlpha at 2018-06-12 17:05:30:000

The American Petroleum Institute reportedly shows a build of 833K barrels of crude oil for the week ending June 8, vs. a draw of 2.03M barrels last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy … read more...

It's Showtime!

via: SeekingAlpha at 2018-06-12 01:29:38:000

By Stephen Innes Enough with the speculation and all the teasers, it's showtime! chill Not surprisingly, it was a quiet session overnight despite the abundance of commentary and conjecture for today's Trump-Kim Summit. FX interbank tapes indicated a staggering -45% drop in electronic… read more...

Offshore Shipping Market Update

via: SeekingAlpha at 2018-06-11 23:01:02:000

Note: This article was originally published May 23rd on Value Investor's Edge , a Seeking Alpha subscription service. Please take advantage of our two-week free trial going on through June 15th. Overview One year ago I authored an article entitled Finally Some Good News For… read more...

Oil: Short-Term Pain For Long-Term Gain

via: SeekingAlpha at 2018-06-11 17:33:21:000

Welcome to the short-term vs. long-term edition of Oil Markets Daily! The oil market and its fellow market participants are going through a period of nervous shakedowns. On one end of the spectrum, recent rhetoric from the Saudis and Russia indicate that a production increase will be comin… read more...

Crude oil lower as Saudis reportedly start to ramp up oil production

via: SeekingAlpha at 2018-06-11 10:20:02:000

Crude oil futures slip as news reports indicate Saudi Arabia has increased production ahead of OPEC's June 22 meeting, another sign that the global supply restraints maintained over the past 18 months are unwinding; WTI -0.9% at $65.12/bbl, Brent -0.8% at $75.81/bbl. More news on: Th… read more...

I'll Go Along With The Rest Of The Boys!

via: SeekingAlpha at 2018-06-11 09:51:27:000

You might think institutions with their large staffs of highly-paid and experienced investment professionals would be a force for stability and reason in financial markets. They are not; stocks heavily owned, and constantly monitored by institutions, have often been among the most inappropriat… read more...

Positioning Summary: Revealing The Truly Crowded Trades

via: SeekingAlpha at 2018-06-11 01:24:03:000

Note: My approach for analyzing CoT data to reveal how different types of traders are positioned in the futures markets is outlined here . If you missed it, give the article a read to see the method behind my analysis. All data and images in this article come from my free website … read more...

5 Compelling Reasons To Buy The Oil Dip

via: SeekingAlpha at 2018-06-10 12:57:16:000

Oil's 10% correction from just under $73/bbl in late May is looking more and more like a gift to oil investors as an opportunity to get in under $70. Oil has been down 9 of the last 12 trading days, and this tends to weaken sentiment and encourage traders to exaggerate bearish arguments and do… read more...

Energy Recap: Looking For Readers' Thoughts And Suggestions

via: SeekingAlpha at 2018-06-08 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to check in with readers, as it's been a while since the last time we asked for your thoughts. As most of you know, since the beginning of 2017, the recap has spent a lot of time exploring the broad topic of renewable/alte… read more...

Energy Recap: Looking For Readers' Thoughts And Suggestions

via: SeekingAlpha at 2018-06-08 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to check in with readers, as it's been a while since the last time we asked for your thoughts. As most of you know, since the beginning of 2017, the recap has spent a lot of time exploring the broad topic of renewable/alte… read more...

Oil prices headed lower this year and next, J.P. Morgan forecasts

via: SeekingAlpha at 2018-06-08 15:17:20:000

Contradicting conventional wisdom , J.P. Morgan says crude oil prices are heading for a downturn later this year and will sink even lower next year as supply and demand fundamentals weaken. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude O… read more...

Oil prices headed lower this year and next, J.P. Morgan forecasts

via: SeekingAlpha at 2018-06-08 15:17:20:000

Contradicting conventional wisdom , J.P. Morgan says crude oil prices are heading for a downturn later this year and will sink even lower next year as supply and demand fundamentals weaken. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude O… read more...

U.S. rig count rises by 2, oil rigs edge up 1

via: SeekingAlpha at 2018-06-08 13:12:44:000

The total U.S. rig count gained 2 to 1,062, continuing to slow its buildup following last week's increase of just 1, Baker Hughes reports in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return … read more...

U.S. rig count rises by 2, oil rigs edge up 1

via: SeekingAlpha at 2018-06-08 13:12:44:000

The total U.S. rig count gained 2 to 1,062, continuing to slow its buildup following last week's increase of just 1, Baker Hughes reports in its latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return … read more...

Iran criticizes reported U.S. request for Saudi oil production hike

via: SeekingAlpha at 2018-06-08 09:21:24:000

Iran's OPEC governor predicts members will reject an unofficial U.S. request that Saudi Arabia and others pump more oil to cover a drop in Iranian and Venezuelan exports at the cartel's June 22 policy meeting in Vienna. More news on: The United States Oil ETF, LP, iPath S&P Crude O… read more...

Iran criticizes reported U.S. request for Saudi oil production hike

via: SeekingAlpha at 2018-06-08 09:21:24:000

Iran's OPEC governor predicts members will reject an unofficial U.S. request that Saudi Arabia and others pump more oil to cover a drop in Iranian and Venezuelan exports at the cartel's June 22 policy meeting in Vienna. More news on: The United States Oil ETF, LP, iPath S&P Crude O… read more...

Let The Games Begin

via: SeekingAlpha at 2018-06-08 00:57:57:000

By Stephen Innes Maximus Pressure or Circus Maximus Both the S&P and Nasdaq fell overnight, snapping the 5-day winning streak as the tech sector sags. But entering the week's end, investors are taking another peek at the calendar and thinking that perhaps booking some profit is prude… read more...

Let The Games Begin

via: SeekingAlpha at 2018-06-08 00:57:57:000

By Stephen Innes Maximus Pressure or Circus Maximus Both the S&P and Nasdaq fell overnight, snapping the 5-day winning streak as the tech sector sags. But entering the week's end, investors are taking another peek at the calendar and thinking that perhaps booking some profit is prude… read more...

Crude oil rises on concerns about plunge in exports from Venezuela

via: SeekingAlpha at 2018-06-07 10:33:49:000

Crude oil prices push higher following reports that Venezuela is nearly a month behind delivering crude to customers from its main oil export terminals; WTI crude +1.4% at $65.63/bbl, Brent also +1.4% at $76.42/bbl. More news on: Chevron Corporation, Valero Energy Corporation, PetroC… read more...

Update On My 'Sell The Oils' Thesis: Will The Sell-Off Continue?

via: SeekingAlpha at 2018-06-07 03:32:04:000

Background While I've been publicly bearish on gold ( GLD ) since August 2016, when GLD was near $130 versus $122 now, I've been back and forth on the oil stocks and oil prices since 2013; when I first contributed to Seeking Alpha : bullish on Helmerich & Payne ( HP ) and Trinity Indust… read more...

U.S. Equity Markets Defy Gravity

via: SeekingAlpha at 2018-06-07 01:27:42:000

By Stephen Innes Equity Markets US equity markets continue to defy gravity, extending the recent winning streak to four straight sessions. It was all about the financials as a series of coordinated hawkish comments came from ECB members that the end of QE will be top of the to-do list, w… read more...

Oil prices tumble on surprise build in U.S. crude stockpiles

via: SeekingAlpha at 2018-06-06 11:49:15:000

Crude oil prices fall U.S. data showed a surprise build in crude and gasoline stockpiles; U.S. WTI -1.2% at $64.74/bbl, Brent -0.6% at $74.89/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy stocks… read more...

EIA Petroleum Inventories

via: SeekingAlpha at 2018-06-06 10:30:49:000

EIA Petroleum Inventories : Crude +2.1M barrels vs. -2.0M consensus, -3.6M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, News on the U.S. economy, Commoditie… read more...

Force majeure on PDVSA's oil exports?

via: SeekingAlpha at 2018-06-06 04:53:42:000

Venezuela has raised the prospect of declaring force majeure on contracts with major crude buyers amid plummeting output from its oil fields and tanker bottlenecks at ports, Reuters reports . More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Velo… read more...

USA And World Oil Production

via: SeekingAlpha at 2018-06-06 01:42:19:000

All data below is from various sources. All US data is from the EIA. Unless otherwise noted is in thousand barrels per day. US C+C production through April 2018. For the last 8 months, the average increase in US production has been 168,000 bpd. Most of this has come from the Permian. Thi… read more...

U.S. crude supply fell 2M barrels last week, API says

via: SeekingAlpha at 2018-06-05 17:01:48:000

The American Petroleum Institute reportedly shows a draw of 2.03M barrels of crude oil for the week ending June 1, vs. a build of 1M barrels last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy st… read more...

3 Reasons Why Crude Oil Will Find Support

via: SeekingAlpha at 2018-06-05 15:08:34:000

On June 22, 2017, the price of crude oil fell 15 cents below its level of critical technical support, and many market participants expected the NYMEX futures to fall to the $40 per barrel or lower. However, the economic growth and OPEC's decision to extend production quotas to the end of 2018 … read more...

A Deep-Dive On Oil's Bullish 5-Year Outlook [VIDEO]

via: SeekingAlpha at 2018-06-05 13:23:15:000

We believe the next big move in oil will be in longer-dated prices, which will need to go higher in order to secure future supply, according to Stefan Wieler , Director at Goldmoney. We think a price increase of at least 35% is needed to get enough investments to eve… read more...

Banks sharply raise oil price forecast in WSJ survey on geopolitical risks

via: SeekingAlpha at 2018-06-05 11:24:37:000

Brent crude is expected to average more than $70/bbl this year and WTI should average nearly $66/bbl, according to a WSJ poll of 12 investment banks, with both estimates ~$6 higher than the forecast from Aprils survey. More news on: The United States Oil ETF, LP, iPath S&P … read more...

Bloomberg: U.S. asks OPEC for 1M bbl/day boost in crude oil production

via: SeekingAlpha at 2018-06-05 08:01:03:000

The U.S. government has asked Saudi Arabia and some other OPEC producers to increase oil production by ~1M bbl/day , Bloomberg reports. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Commoditi… read more...

Sterling Jumps Ahead, While U.S. Equities Have Small Coattails

via: SeekingAlpha at 2018-06-05 07:23:53:000

The British pound is benefiting from the stronger-than-expected service and composite PMI readings, which, among other things, are serving as a distraction from the government's seemingly tortured approach to Brexit and the sales of part of its stake in RBS for a GBP2 billion loss. Financia… read more...

Brent's Back In A Big Way, Still 'Something' Missing

via: SeekingAlpha at 2018-06-05 06:24:02:000

The concept of bank reserves grew from the desire to avoid the periodic bank runs that plagued Western financial systems. As noted in detail starting here , the question had always been how much cash in a vault was enough? Governments around the world decided to impose a minimum requirement, … read more...

Political Event Risk Raises Stakes For Sudden Price Moves

via: SeekingAlpha at 2018-06-05 06:08:38:000

By Bluford Putnam and Erik Norland Political risk is rising - elections in Mexico, Brazil and the U.S.; a leadership battle for Japan's ruling Liberal Democratic Party (LDP); the U.S. planning protectionist trade tariffs against China, the European Union, Canada and Mexico; a looming Brexi… read more...

Oil prices slide near two-month lows as OPEC seen curbing output cuts

via: SeekingAlpha at 2018-06-04 16:20:06:000

Crude oil futures fell today, with U.S. WTI settling near a two-month low , as investors continue to sell in the face of growing U.S. production, possible global supply growth and nagging trade tensions. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&a… read more...

Chasing One's Tail

via: SeekingAlpha at 2018-06-04 02:00:31:000

By Stephen Innes There's a lot less drama to start the week, but still plenty of possible noisemakers in play to keep things interesting. Global trade war tensions are on the rise again, so on the heels of the latest US administrations salvo of metal import tariffs, the market's focus will… read more...

Why Soaring Oil Prices Won't Crash The Stock Market And Might Actually Make You Rich

via: SeekingAlpha at 2018-06-04 00:03:49:000

(Source: imgflip ) The worst oil crash in over 50 years saw the price of crude plunge 76% peak to trough. However, since bottoming in February 2016, oil prices have staged an impressive rally. WTI Crude Oil Spot Price data by YCharts While this has been a boon to most oil stocks… read more...

Macro Matters Now, Just Not The Data

via: SeekingAlpha at 2018-06-03 23:21:38:000

The main concerns of investors do not arise from the high-frequency data that are due in the coming days. Last week, the somewhat firmer-than-expected preliminary May CPI for the EMU failed to bolster the euro. The stronger-than-expected US jobs data, even if tipped by the President of the U… read more...

Commodities Recap For The Week Of June 1, 2018

via: SeekingAlpha at 2018-06-03 04:16:40:000

The story of this week: Risk-Off Reminder Last week, after the Memorial Day weekend holiday, news from Europe sent markets into a tizzy. Bonds rallied in a flight to quality, and the dollar traded to almost the 95 level on the dollar index. Crude oil, which had started a sharp correction … read more...

Commodities Recap For The Week Of June 1, 2018

via: SeekingAlpha at 2018-06-03 04:16:40:000

The story of this week: Risk-Off Reminder Last week, after the Memorial Day weekend holiday, news from Europe sent markets into a tizzy. Bonds rallied in a flight to quality, and the dollar traded to almost the 95 level on the dollar index. Crude oil, which had started a sharp correction … read more...

Commodities Recap For The Week Of June 1, 2018

via: SeekingAlpha at 2018-06-03 04:16:40:000

The story of this week: Risk-Off Reminder Last week, after the Memorial Day weekend holiday, news from Europe sent markets into a tizzy. Bonds rallied in a flight to quality, and the dollar traded to almost the 95 level on the dollar index. Crude oil, which had started a sharp correction … read more...

Commodities Recap For The Week Of June 1, 2018

via: SeekingAlpha at 2018-06-03 04:16:40:000

The story of this week: Risk-Off Reminder Last week, after the Memorial Day weekend holiday, news from Europe sent markets into a tizzy. Bonds rallied in a flight to quality, and the dollar traded to almost the 95 level on the dollar index. Crude oil, which had started a sharp correction … read more...

Commodities Recap For The Week Of June 1, 2018

via: SeekingAlpha at 2018-06-03 04:16:40:000

The story of this week: Risk-Off Reminder Last week, after the Memorial Day weekend holiday, news from Europe sent markets into a tizzy. Bonds rallied in a flight to quality, and the dollar traded to almost the 95 level on the dollar index. Crude oil, which had started a sharp correction … read more...

This Week In Money - June 2, 2018

via: SeekingAlpha at 2018-06-03 03:20:27:000

Ross Clark Steel and Aluminum Tariffs, Trans Mountain Pipeline, Nasdaq and Russell 2000. Gerald Celente Beginning of the end for the euro and the Eurozone. Gold. Danielle Park Debt, Interest Rates, and Oil Pipeline. Larry Reaugh Preside… read more...

This Week In Money - June 2, 2018

via: SeekingAlpha at 2018-06-03 03:20:27:000

Ross Clark Steel and Aluminum Tariffs, Trans Mountain Pipeline, Nasdaq and Russell 2000. Gerald Celente Beginning of the end for the euro and the Eurozone. Gold. Danielle Park Debt, Interest Rates, and Oil Pipeline. Larry Reaugh Preside… read more...

This Week In Money - June 2, 2018

via: SeekingAlpha at 2018-06-03 03:20:27:000

Ross Clark Steel and Aluminum Tariffs, Trans Mountain Pipeline, Nasdaq and Russell 2000. Gerald Celente Beginning of the end for the euro and the Eurozone. Gold. Danielle Park Debt, Interest Rates, and Oil Pipeline. Larry Reaugh Preside… read more...

This Week In Money - June 2, 2018

via: SeekingAlpha at 2018-06-03 03:20:27:000

Ross Clark Steel and Aluminum Tariffs, Trans Mountain Pipeline, Nasdaq and Russell 2000. Gerald Celente Beginning of the end for the euro and the Eurozone. Gold. Danielle Park Debt, Interest Rates, and Oil Pipeline. Larry Reaugh Preside… read more...

This Week In Money - June 2, 2018

via: SeekingAlpha at 2018-06-03 03:20:27:000

Ross Clark Steel and Aluminum Tariffs, Trans Mountain Pipeline, Nasdaq and Russell 2000. Gerald Celente Beginning of the end for the euro and the Eurozone. Gold. Danielle Park Debt, Interest Rates, and Oil Pipeline. Larry Reaugh Preside… read more...

Energy Recap: A Look At Surging Oil Prices

via: SeekingAlpha at 2018-06-01 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to point readers to the most recent version of Seeking Alpha's Multimedia Weekly Digest, which features some great discussion on the rising price of oil and its effects on gold miners/inflation, geoeconomics, and energy st… read more...

Energy Recap: A Look At Surging Oil Prices

via: SeekingAlpha at 2018-06-01 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to point readers to the most recent version of Seeking Alpha's Multimedia Weekly Digest, which features some great discussion on the rising price of oil and its effects on gold miners/inflation, geoeconomics, and energy st… read more...

Energy Recap: A Look At Surging Oil Prices

via: SeekingAlpha at 2018-06-01 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to point readers to the most recent version of Seeking Alpha's Multimedia Weekly Digest, which features some great discussion on the rising price of oil and its effects on gold miners/inflation, geoeconomics, and energy st… read more...

Energy Recap: A Look At Surging Oil Prices

via: SeekingAlpha at 2018-06-01 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to point readers to the most recent version of Seeking Alpha's Multimedia Weekly Digest, which features some great discussion on the rising price of oil and its effects on gold miners/inflation, geoeconomics, and energy st… read more...

McMonigle: How Will OPEC Respond To $80 Oil? Here's My Take.

via: SeekingAlpha at 2018-06-01 14:59:49:000

OPECs June 22 meeting promises to be highly consequential to oil markets. At the last OPEC meeting in November, the group extended the production cut agreement until the end of 2018, but also added language at the insistence of the Russian minister to review the need for an up… read more...

McMonigle: How Will OPEC Respond To $80 Oil? Here's My Take.

via: SeekingAlpha at 2018-06-01 14:59:49:000

OPECs June 22 meeting promises to be highly consequential to oil markets. At the last OPEC meeting in November, the group extended the production cut agreement until the end of 2018, but also added language at the insistence of the Russian minister to review the need for an up… read more...

Total U.S. rig count edges higher by 1, oil rigs up by 2

via: SeekingAlpha at 2018-06-01 13:14:28:000

The total U.S. rig count rose by just 1 to 1,060 following last week's surge of 13, according to Baker Hughes' latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Com… read more...

Total U.S. rig count edges higher by 1, oil rigs up by 2

via: SeekingAlpha at 2018-06-01 13:14:28:000

The total U.S. rig count rose by just 1 to 1,060 following last week's surge of 13, according to Baker Hughes' latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index ETN, Energy stocks news, Com… read more...

Revised OPEC Production Quotas Won't Derail Higher Oil Prices

via: SeekingAlpha at 2018-06-01 09:55:20:000

The Saudis and Russians recently met in informal discussions for the purposes of formulating plans on the loosening oil production quotas ahead of the OPEC meeting June based on a recently achieved balance between supply and demand but against looming potential multiple disruptive production a… read more...

Revised OPEC Production Quotas Won't Derail Higher Oil Prices

via: SeekingAlpha at 2018-06-01 09:55:20:000

The Saudis and Russians recently met in informal discussions for the purposes of formulating plans on the loosening oil production quotas ahead of the OPEC meeting June based on a recently achieved balance between supply and demand but against looming potential multiple disruptive production a… read more...

Welcome To The 2018 Driving Season

via: SeekingAlpha at 2018-06-01 06:19:00:000

This past weekend, people all across the United States enjoyed the Memorial Day weekend holiday which marks the official start of the summer season. With great weather and the kids off from school, many families hop in their cars and SUVs and head off on vacation adventures. Each year, summert… read more...

Welcome To The 2018 Driving Season

via: SeekingAlpha at 2018-06-01 06:19:00:000

This past weekend, people all across the United States enjoyed the Memorial Day weekend holiday which marks the official start of the summer season. With great weather and the kids off from school, many families hop in their cars and SUVs and head off on vacation adventures. Each year, summert… read more...

The Play Between Energy, Economy And Technological Change

via: SeekingAlpha at 2018-06-01 05:55:00:000

As producers like Pioneer Natural Resources (PXD), Exxon Mobil (XOM), Chevron (CVX), and many smaller firms say they will ramp up production in the Permian Basin in the coming years, new constraints may be emerging. These constraints could be levied unevenly depending on the operator. Accordin… read more...

The Play Between Energy, Economy And Technological Change

via: SeekingAlpha at 2018-06-01 05:55:00:000

As producers like Pioneer Natural Resources (PXD), Exxon Mobil (XOM), Chevron (CVX), and many smaller firms say they will ramp up production in the Permian Basin in the coming years, new constraints may be emerging. These constraints could be levied unevenly depending on the operator. Accordin… read more...

Will Oil Prices Recover As OPEC Looks To Curb Output?

via: SeekingAlpha at 2018-06-01 05:32:29:000

While oil prices have climbed higher this year, they have faltered lately over concerns about higher output from Saudi Arabia and Russia. Bart Melek, Global Head of Commodity Strategy, TD Securities, talks to Kim Parlee about the OPEC meeting in June, what's driving supply and demand, a… read more...

Will Oil Prices Recover As OPEC Looks To Curb Output?

via: SeekingAlpha at 2018-06-01 05:32:29:000

While oil prices have climbed higher this year, they have faltered lately over concerns about higher output from Saudi Arabia and Russia. Bart Melek, Global Head of Commodity Strategy, TD Securities, talks to Kim Parlee about the OPEC meeting in June, what's driving supply and demand, a… read more...

Dollar Falls As U.S. Fires First In Trade War

via: SeekingAlpha at 2018-06-01 00:28:20:000

The US dollar is lower against most major pairs on Thursday. The United States announced earlier in the day that it would apply tariffs on steel and aluminium imports from EU, Canada and Mexico. The NAFTA pairs depreciated as a wave of retaliatory moves are expected. US Trade Secretary Wilbur … read more...

Dollar Falls As U.S. Fires First In Trade War

via: SeekingAlpha at 2018-06-01 00:28:20:000

The US dollar is lower against most major pairs on Thursday. The United States announced earlier in the day that it would apply tariffs on steel and aluminium imports from EU, Canada and Mexico. The NAFTA pairs depreciated as a wave of retaliatory moves are expected. US Trade Secretary Wilbur … read more...

A Tempest In An Espresso Cup

via: SeekingAlpha at 2018-06-01 00:20:50:000

By Stephen Innes The markets are looking much more constructive to end the week than they did to start, and with trade wars still lingering, that is saying a lot. Mind you, the Italian rumpus - and the ensuing blow-off - was incredibly intense, so investors will be keen to put politics on … read more...

A Tempest In An Espresso Cup

via: SeekingAlpha at 2018-06-01 00:20:50:000

By Stephen Innes The markets are looking much more constructive to end the week than they did to start, and with trade wars still lingering, that is saying a lot. Mind you, the Italian rumpus - and the ensuing blow-off - was incredibly intense, so investors will be keen to put politics on … read more...

70 Is The New 90: The Psychological Impact Of Higher Oil Prices

via: SeekingAlpha at 2018-05-31 18:16:54:000

Today, more now than ever, we are barraged with economic data of which most is lost on the average person. One data point, however, that everyone understands is the price of oil as it directly impacts the average American where it counts the most, in the "wallet." The price of oil is plast… read more...

EIA 914 - Monthly Figure Tracking Weekly Production

via: SeekingAlpha at 2018-05-31 18:15:11:000

Welcome to the EIA 914 Edition of Oil Markets Daily! EIA 914 is out today, with U.S. March monthly oil production hitting a new high of 10.474 million b/d versus 10.259 million b/d in February, an increase of 215k b/d month over month. In our previous EIA 914 article from last month, we … read more...

Higher Oil Prices And Recession Risk: Part 1

via: SeekingAlpha at 2018-05-31 16:05:37:000

We have been big bulls on oil prices for more than 2 years. We have dismissed threats such EVs or higher fuel efficiency as being irrelevant to current bull case. Here we examine if higher oil prices could act as a self-limiter by inducing a recession. A Whole New World The exact cause… read more...

Weekly Oil Storage Report - U.S. Crude Exports Constrained

via: SeekingAlpha at 2018-05-31 15:48:40:000

Welcome to the weekly oil storage report edition of Oil Markets Daily! Note: Starting June 1, HFI Research will be limiting the number of public articles we publish. Weekly oil storage reports will continue, but all storage estimates - including next week's estimate - will be reserved for H… read more...

Crude futures pares losses post inventory data

via: SeekingAlpha at 2018-05-31 11:01:50:000

EIA Petroleum Inventories : Crude -4.2M barrels vs. -0.4M consensus, +5.8M last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, ProShares Ultra Bloomberg Crude Oil ETF, Energy stocks news, News on the U.S. economy, Commodities news, Ne… read more...

Brent-WTI spread breaks above $11/bbl, highest since 2015

via: SeekingAlpha at 2018-05-31 10:27:54:000

Brent crude oil reverses earlier losses to move higher while U.S. WTI sinks into the red, sending the premium of Brent to WTI ballooning past $11/bbl for the first time since March 2015; currently, Brent +0.5% at $77.90/bbl, WTI -1.6% at $67.14/bbl. More news on: The United States Oi… read more...

Multimedia Weekly Digest: Surging Oil Prices

via: SeekingAlpha at 2018-05-31 09:30:24:000

Welcome to SA Multimedia Digest, where we combine videos and podcasts from across Seeking Alpha's contributor base into a single weekly article. Oil expert and geological consultant Art Berman returned to Chris Martenson's podcast this week and covered the surging price of oil: … read more...

Weekly Edge: Oil Prices Experience Some Relief On Supply Talks

via: SeekingAlpha at 2018-05-31 06:48:55:000

By Troy Tanzy Co-authored by Daniel Rangel Oil prices have eased up a bit in their months-long incline following worries of Saudi Arabia and Russia scaling up oil production due to waning supply levels and heightened demand, according to The Wall Street Journal . Both Brent, the glo… read more...

The Forward Oil Curve Warned Of A Top

via: SeekingAlpha at 2018-05-31 06:30:00:000

On Friday, May 25, gravity hit the crude oil market after a rally that moved in almost a straight line since early February of this year. Nearby July NYMEX crude oil futures rose to a new peak on May 22 at $72.90 per barrel, $30.85 or 73.4% above the bottom established on June 21, 2017, at the… read more...

The Threat Of Surging Oil Prices

via: SeekingAlpha at 2018-05-31 05:52:40:000

John Rubino and Michael Oliver return as guests on the radio program for this week. John discusses factors behind a surging oil price and what that means for consumer inflation and central bank policies in light of an increasingly fragile debt-ridden global economy. What impact do rising… read more...

U.S. crude supply rose 1M barrels last week, API says

via: SeekingAlpha at 2018-05-30 17:05:18:000

The American Petroleum Institute reportedly shows a build of 1M barrels of crude oil for the week ending May 25, vs. a draw of 1.33M barrels last week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy st… read more...

Oil shoots higher on report that OPEC will maintain production curbs

via: SeekingAlpha at 2018-05-30 11:22:52:000

Crude oil prices surge following a Reuters report that Saudi Arabia and the other OPEC and non-OPEC producers would stick with the current production agreement until the end of the year; WTI +2.1% at $68.18/bbl, Brent +2.4% at $77.20/bbl. More news on: The United States Oil ETF,… read more...

Art Berman: Think Oil Is Getting Expensive? You Ain't Seen Nothing Yet

via: SeekingAlpha at 2018-05-30 09:04:31:000

After issuing clear warnings on this program that sub-$50 oil prices were going to be short-lived, oil expert and geological consultant Art Berman returns to the podcast this week to explain why today's $70 oil prices will go higher - likely much higher - and start materially constricting worl… read more...

There's A Lot More To Come In The Emerging Markets Carnage

via: SeekingAlpha at 2018-05-30 08:38:14:000

The term "emerging markets" covers a rather large generalization. They are all different, but they are generally differentiated from developed markets by faster economic growth (from smaller per capita bases), faster demographic growth (in some cases), and in better long-term returns with high… read more...

Wild Speculation In Crude Oil - Precious Metals Supply And Demand

via: SeekingAlpha at 2018-05-30 07:21:01:000

Crude Oil Market Structure - Extremes in Speculative Net Long Positions On May 28, markets were closed so this Report is coming out a day later than normal. The price of gold rose nine bucks, and the price of silver 4 pennies. With little action here, we thought we would write 1,000 words'… read more...

Oil Update - May 2018

via: SeekingAlpha at 2018-05-30 06:39:41:000

Unlike my typical practice of giving my monthly oil price range forecast for West Texas Intermediate, for the coming month I am not providing a range because the uncertainty is too great. There are at least three major factors underlying the uncertainty. First, the magnitude of the decrease … read more...

Q2 2018 Investment Outlook: Commodities Seizing Its Moment

via: SeekingAlpha at 2018-05-30 05:19:04:000

Originally published on May 18, 2018 Video Transcript Q2 2018 Investment Outlook: Commodities Seizing Its Moment Natalia Gurushina: Welcome, I'm Natalia Gurushina, Chief Emerging Markets Economist at VanEck. With global rates normalizing, geopolitics still posing major risks, an… read more...

Safety Is The Priority

via: SeekingAlpha at 2018-05-30 01:02:58:000

By Stephen Innes Seldom do we suddenly fall on demise, but rather, advance towards it by slight degrees. However, nothing could be further from the truth when it comes to the euro's disintegration over the course of the past 24 hours. Forget about juxtaposition with Greece, as this potenti… read more...

WTI crude settles at lowest since mid-April

via: SeekingAlpha at 2018-05-29 16:17:38:000

U.S. WTI crude oil futures fell as much as 3% before settling -1.7% at $66.73/bbl for a fifth straight day of losses after hitting a three-and-a-half-year high just a week ago. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Retur… read more...

WTI crude settles at lowest since mid-April

via: SeekingAlpha at 2018-05-29 16:17:38:000

U.S. WTI crude oil futures fell as much as 3% before settling -1.7% at $66.73/bbl for a fifth straight day of losses after hitting a three-and-a-half-year high just a week ago. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Crude Oil Total Retur… read more...

When $80 Crude Oil Doesn't Feel Like $80 Crude Oil

via: SeekingAlpha at 2018-05-29 14:26:26:000

By Jeff Weniger, CFA, Asset Allocation Strategist "Judging by the oil market in the pre-OPEC era, a 'normal' market price might now be in the $5-10 range. Last week Algeria's energy minister declared, with only slight exaggeration, that prices might conceivably tumble 'to $2 or … read more...

When $80 Crude Oil Doesn't Feel Like $80 Crude Oil

via: SeekingAlpha at 2018-05-29 14:26:26:000

By Jeff Weniger, CFA, Asset Allocation Strategist "Judging by the oil market in the pre-OPEC era, a 'normal' market price might now be in the $5-10 range. Last week Algeria's energy minister declared, with only slight exaggeration, that prices might conceivably tumble 'to $2 or … read more...

Italy Crisis Pounds EUR, More To Come

via: SeekingAlpha at 2018-05-29 07:41:38:000

Tuesday, May 29: Five things the markets are talking about Threat of Euro fragmentation U.S. Treasuries have rallied alongside a number of core-European bonds as the political crisis in Italy and Spain deepens, triggering risk-off trading across capital markets. The EUR (1.15… read more...

Crude Oil Became A Crowded Trade

via: SeekingAlpha at 2018-05-29 07:00:00:000

The ascent of crude oil has been nothing short of spectacular. In February 2016, the price of the energy commodity fell to its lowest level since 2003 when it traded to lows of $26.05 per barrel on the nearby NYMEX futures contract. Last week, June futures reached another in a series of new hi… read more...

Oil Is Still Going To $80

via: SeekingAlpha at 2018-05-29 05:40:03:000

Oil prices are taking a hit right now as the media and markets are fooled by a narrative that new oil supply is coming onto the market from Saudi Arabia and Russia. That is not the real story. In fact, it's #fakenews. Good traders took some profits on oil positions in the middle of last week… read more...

Gold Price Framework Vol. 2: The Energy Side Of The Equation

via: SeekingAlpha at 2018-05-29 05:33:11:000

Building on our proprietary energy-proof-of-value gold price framework, we: a) present an improved gold price model; b) provide an in-depth analysis of the energy exposure of the cost structure in gold mining and; c) give an outlook for the gold market. Our improved framework confirms ou… read more...

What Happened Monday?

via: SeekingAlpha at 2018-05-28 23:27:38:000

Italian politics dominated Monday's activity. Initially, the euro reacted positively in Asia to news that the Italian President had blocked the proposed finance minister. A technocrat government would be appointed to prepare for new elections. The euro reversed course by midday in Asia… read more...

Oil Weekly: OPEC's Supply Shift Reveals Oil Market Normalization

via: SeekingAlpha at 2018-05-28 11:00:05:000

Introduction Welcome to my Oil Weekly report. In this report, I wish to discuss about crude oil inventories and net speculative positioning changes, based respectively on the Weekly Energy Information Administration ((EIA)) report and the Commodity Futures Trading Commission ((CFTC)) estim… read more...

Oil Weekly: OPEC's Supply Shift Reveals Oil Market Normalization

via: SeekingAlpha at 2018-05-28 11:00:05:000

Introduction Welcome to my Oil Weekly report. In this report, I wish to discuss about crude oil inventories and net speculative positioning changes, based respectively on the Weekly Energy Information Administration ((EIA)) report and the Commodity Futures Trading Commission ((CFTC)) estim… read more...

Cattle Cull To Support Kiwi Dollar

via: SeekingAlpha at 2018-05-28 06:44:17:000

Monday, May 28: Five things the markets are talking about Global equities are trading higher in this holiday-shortened trading week in a risk-on mood, buoyed by signs that a U.S./North Korea summit is back on track. In Europe, the EUR has found some relief after Italian President Sergio … read more...

Cattle Cull To Support Kiwi Dollar

via: SeekingAlpha at 2018-05-28 06:44:17:000

Monday, May 28: Five things the markets are talking about Global equities are trading higher in this holiday-shortened trading week in a risk-on mood, buoyed by signs that a U.S./North Korea summit is back on track. In Europe, the EUR has found some relief after Italian President Sergio … read more...

Buckle In For An Action-Packed Holiday-Shortened Week

via: SeekingAlpha at 2018-05-28 01:40:46:000

By Stephen Innes Buckle in for an action-packed holiday-shortened week brimmed with essential events, none more significant than the May employment report, particularly in light of the recent dovish conversation on wage growth in the May 2 FOMC minutes. A marginally firmer reading on the A… read more...

Buckle In For An Action-Packed Holiday-Shortened Week

via: SeekingAlpha at 2018-05-28 01:40:46:000

By Stephen Innes Buckle in for an action-packed holiday-shortened week brimmed with essential events, none more significant than the May employment report, particularly in light of the recent dovish conversation on wage growth in the May 2 FOMC minutes. A marginally firmer reading on the A… read more...

This Week In Money - May 26, 2018

via: SeekingAlpha at 2018-05-27 02:51:48:000

Bob Hoye Gold and oil Eric Hadik Cryptocurrencies, currencies Ed Steer Gold, silver and GATA Larry Reaugh - President & CEO of American Manganese Inc. Jim Pettit - President & CEO of Aben Resources Ltd. Produced b… read more...

This Week In Money - May 26, 2018

via: SeekingAlpha at 2018-05-27 02:51:48:000

Bob Hoye Gold and oil Eric Hadik Cryptocurrencies, currencies Ed Steer Gold, silver and GATA Larry Reaugh - President & CEO of American Manganese Inc. Jim Pettit - President & CEO of Aben Resources Ltd. Produced b… read more...

U.S. Antitrust Law Could Break OPEC's Collusion On Oil Production Deals

via: SeekingAlpha at 2018-05-26 11:19:45:000

U.S. gasoline consumers are in for sticker shock when they fill their tanks to begin this summer's gasoline season. The U.S. average price for regular gasoline is up $0.52/gal from last year in the latest DOE survey. Out here in Southern California, we are already paying $4+/… read more...

U.S. Antitrust Law Could Break OPEC's Collusion On Oil Production Deals

via: SeekingAlpha at 2018-05-26 11:19:45:000

U.S. gasoline consumers are in for sticker shock when they fill their tanks to begin this summer's gasoline season. The U.S. average price for regular gasoline is up $0.52/gal from last year in the latest DOE survey. Out here in Southern California, we are already paying $4+/… read more...

U.S. Antitrust Law Could Break OPEC's Collusion On Oil Production Deals

via: SeekingAlpha at 2018-05-26 11:19:45:000

U.S. gasoline consumers are in for sticker shock when they fill their tanks to begin this summer's gasoline season. The U.S. average price for regular gasoline is up $0.52/gal from last year in the latest DOE survey. Out here in Southern California, we are already paying $4+/… read more...

Crude Oil: Intermediate Decline Starting?

via: SeekingAlpha at 2018-05-26 10:58:25:000

Crude oil ( USO ) was down as murmurings are continuing with relation to a possible OPEC production increase. Ending the supply cut was always going to hurt the commodity. Crude oil was around $45 a barrel just a short 12 months ago and we have only recently slipped below $70. We actually … read more...

Crude Oil: Intermediate Decline Starting?

via: SeekingAlpha at 2018-05-26 10:58:25:000

Crude oil ( USO ) was down as murmurings are continuing with relation to a possible OPEC production increase. Ending the supply cut was always going to hurt the commodity. Crude oil was around $45 a barrel just a short 12 months ago and we have only recently slipped below $70. We actually … read more...

Crude Oil: Intermediate Decline Starting?

via: SeekingAlpha at 2018-05-26 10:58:25:000

Crude oil ( USO ) was down as murmurings are continuing with relation to a possible OPEC production increase. Ending the supply cut was always going to hurt the commodity. Crude oil was around $45 a barrel just a short 12 months ago and we have only recently slipped below $70. We actually … read more...

Oil Prices Hit 4-Year High, But Will The Surge Continue?

via: SeekingAlpha at 2018-05-26 08:03:45:000

By Fred Fromm, CFA Vice President, Research Analyst, Franklin Equity Group For the first time in a long while, geopolitics has been driving oil prices higher in an already tight market. With oil prices recently hitting a four-year high, gasoline prices have been climbing too, and… read more...

Oil Prices Hit 4-Year High, But Will The Surge Continue?

via: SeekingAlpha at 2018-05-26 08:03:45:000

By Fred Fromm, CFA Vice President, Research Analyst, Franklin Equity Group For the first time in a long while, geopolitics has been driving oil prices higher in an already tight market. With oil prices recently hitting a four-year high, gasoline prices have been climbing too, and… read more...

Oil Prices Hit 4-Year High, But Will The Surge Continue?

via: SeekingAlpha at 2018-05-26 08:03:45:000

By Fred Fromm, CFA Vice President, Research Analyst, Franklin Equity Group For the first time in a long while, geopolitics has been driving oil prices higher in an already tight market. With oil prices recently hitting a four-year high, gasoline prices have been climbing too, and… read more...

Energy Recap: Examining Shale With SA Author Fluidsdoc

via: SeekingAlpha at 2018-05-25 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to share with you some comments about shale from Seeking Alpha Author Fluidsdoc . Take a look: Like most other companies, oil operators base their investing decisions on the expected rates of return in their investment… read more...

Energy Recap: Examining Shale With SA Author Fluidsdoc

via: SeekingAlpha at 2018-05-25 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to share with you some comments about shale from Seeking Alpha Author Fluidsdoc . Take a look: Like most other companies, oil operators base their investing decisions on the expected rates of return in their investment… read more...

Energy Recap: Examining Shale With SA Author Fluidsdoc

via: SeekingAlpha at 2018-05-25 19:03:00:000

Welcome to the latest edition of the Energy Recap. This week, we wanted to share with you some comments about shale from Seeking Alpha Author Fluidsdoc . Take a look: Like most other companies, oil operators base their investing decisions on the expected rates of return in their investment… read more...

Energy Recap: Examining Shale With SA Author Fluidsdoc

via: SeekingAlph