Month: September 2011

Crude oil continues to cover the same ground on tepid volume and declining open interest over unusually wide daily ranges, as participants wait for a fresh directional cue. Fundamentals favor bears…

  ALERT: OPTIMISM ON EU CRISIS MISPLACED Contract Month Last Change BIAS Comment Crude Oil November 82.68       -.14 Lower Key support broken. Gasoline November 2.5382      -.0043 Lower Poor demand to weigh on prices. Heating Oil November 2.8264      .0093 Lower Real heating demand still quite far off.… Read more

Crude oil prices are at their highs for the session as investors express relief that measures expanding the role of the EFSF is a positive sign for energy demand growth, going forward.

The pledge, late last week, by G-20 policy makers of “a strong and coordinated international response to address the renewed challenges facing the global economy,” rang hollow as the World Bank/IMF meeting, over the weekend, broke with them still divided over what to do.… Read more

Crude oil lost more than 4% on Thursday responding not only to the Fed’s bleak economic outlook, but also to shockingly weak Chinese industrial data. China, one of the most important sources of energy demand, reported that manufacturing contracted for a third consecutive month.… Read more

Three keys words the Fed used in its statement yesterday, “significant downside risk” has finally driven home to market participants what we have been saying for months, it is not going away.

Crude oil has so far today displayed an inconclusive pattern within a tight range despite the IMF’s warnings yesterday. The market leaned towards the downside during the NYMEX session yesterday when IMF warned …

We shift our focus to the November contract as the October retires tomorrow. The dollar play is again influencing oil prices as the euro wanes to the benefit of the dollar. Wrangling in Europe has brought their debt crisis to the fore, once again.… Read more

Narrowing ranges and lower highs over the past few sessions show that the inconclusive price action may be coming to a an end. Which way will it break? The price fulcrum is the measure of the opposing forces of supply that is tightening versus demand…