Month: September 2014

Brent and WTI oil prices are lower to start the week, buffeted by further gains in the US dollar versus other major currencies; the Dollar Index hit a multi-year, nearing 86. Long bets by speculators in Brent futures have fallen 80% since June, and have flipped into a record short position.… Read more

WTI oil prices are mostly holding onto their recent gains, churning in the face of competing pressures from increased supplies, a rising dollar, and strong domestic demand. RBOB futures had a volatile day, on news of several refinery snags that sent cash prices surging higher.… Read more

ALERT: WTI PRICES CLOSE GAP WITH BRENT ON STRONG US REFINERY DEMAND Contract   Month Last Change BIAS Comment Crude Oil November     93.20      .40 Lower Poor fuel demand outlook weighs. Natural Gas November     3.926     -.040 Lower Prices to fall on continuing strong storage growth.… Read more

It was a curious day in the oil complex, yesterday. WTI prices rose markedly, while Brent prices were mostly unchanged. Given the geopolitical tumult, you would have thought that WTI would be the laggard. It turns out, though, that market fundamentals intruded.… Read more

When you look at the roster of countries that participated in air strikes on ISIS forces in Iraq and Syria, it is no wonder oil prices have jumped in overnight trading. Saudi Arabia, Kuwait, UAE, and Qatar were all involved. So, virtually the entirety of the Arab peninsula is involved in hostilities.… Read more

The same negative factors hitting the equity market is undermining Brent crude oil prices. Statements from China’s Finance Minister, citing downward pressure on growth and a lack of a policy response, is undermining the outlook for energy demand growth. Oil producers need China to continue to grow in a big way in order to sustain prices, in the face of growing supplies.… Read more

Oil prices are falling again, unable to mount a sustained rally on renewed Libyan oil output problems, in the face of an ever stronger dollar. The pound sterling is making back much of its Scotland damage, but the yen and euro keep falling versus the greenback.… Read more

WTI oil prices fell, yesterday, as the weekly EIA inventory reported a large rise in crude oil inventories, which contrasted with an expectation for a decline. The 3.7 million barrel rise came as a result of a surge in imports back above 8 million bpd.… Read more

WTI oil prices tested support near 90.63, yesterday, before snapping back, yet again. They are lower again this morning, on another disappointing economic data point from China and the generalized selling that is being generated by the expected change in policy stance by the FOMC.… Read more

Oil prices are back on the decline due to weak Chinese economic that was released over the weekend. Factory output grew at its lowest pace in six years, and economists are tripping over themselves to lower GDP forecasts to near 7%.… Read more