December NYMEX WTI prices continued under pressure as the week ended, but the strong retreat recorded last week failed to produce follow on selling past Wednesday’s low during the Thursday and Friday sessions. With East Coast refining operations threatened by the coming storm, prices for refined products soared and carried over to crude oil.… Read more
Energy OverView October 26, 2012
Price action for December NYMEX WTI, so far today, has continued the short-covering that was the dominant feature of yesterday’s session. Equities and the euro have both posted fresh lows for their move down today while crude has held 85.00. Helpful as well is the apparently growing sentiment that the Chinese economy may finally be starting to bottom out.… Read more
Energy October 25, 2012
The market has behaved just as it should given both technical and fundamental data, balanced against geopolitical issues. There is very little registered in macroeconomic reports that could be called encouraging for aggregate demand. Support barriers have been convincingly broken, as well.… Read more
Energy OverView October 24, 2012
Global investors cast a rather vociferous ballot yesterday expressed in yesterday’s retreat in most asset classes. The cadence of disappointing earnings continued with DuPont and 3M, and should be conclusive evidence of the futility of quantitative easing as a tool to spark aggregate demand.… Read more
Energy OverView October 23, 2012
December crude oil prices trended lower during the US trading session, falling to their lowest level since October 4th in the process. The opening portion of yesterday’s session displayed some strength off a weakness in the US dollar. But that quickly dissipated following an announcement from Caterpillar that seemed to reignite slowing economic growth concerns.… Read more
Energy OverView October 22, 2012
There was little in the underlying fundamentals to suggest Friday’s move. Negativity continues to emanate from the slowing of the global economy, while markets bulls continue to worry about geopolitical risk. China reported GDP as expected, while investments, industrial production and retail sales) beat previous months…
This content is for Trading/Hedging Consultation Package members only.
… Read more Energy OverView October 19, 2012
Crude oil stayed mired in its very tight trading pattern, as participants struggled to find a rationale for a breakout. Tension in and around the oil producing regions continues to emanate from Syria/Turkey and Iran/Israel. Economic data continues mixed, with every positive element following by more disappointment.… Read more
EnergyOverView October 18, 2012
December crude oil remained stuck in consolidation. The weekly EIA stockpile report helped to push prices lower initially as an extraordinary build in crude oil supplies confirmed the previous night’s API assessment. However, consideration of the higher than expected contraction in distillates may have been taken as a harbinger of renewed demand for that refined product and prices rallied afterwards.… Read more
Energy OverView October 17, 2012
December NYMEX WTI traded in an extraordinarily narrow range yesterday, with prices holding in the mid-92.00s. German monetary policymakers implied their stance towards their European counterparts was softening and Spain looks ready to ask for help, raising the single currency’s prospects while the US dollar loses some of its safe-haven appeal.… Read more
Energy OverView October 16, 2012
The most dramatic feature of yesterday’s price action was the reversal which recaptured the $2.00 lost earlier in the session. Some of the schizophrenic activity may certainly be attributed to the Intercontinental Exchange’s conversion of cleared swaps to futures which created considerable confusion in the markets as the exchange sought to help customers avoid new capital and reporting requirements relative to Dodd-Frank.… Read more