Category: Crude Oil
The analysis published under this category are as follows.
Monday, August 30, 2010
Bernanke Pledge on Economy Gives Some Relief to Oil Prices / Commodities / Crude Oil
By: OilPrice_Com
Oil prices recovered some lost ground Friday after Federal Reserve chairman Ben Bernanke said the Fed stands ready to do whatever it takes to support economic recovery.The benchmark West Texas Intermediate October futures contract gained 2.5% on Friday, settling at $75.17 a barrel and wiping out losses from the beginning of the week. The expiring September contract closed at $73.46 a week ago.
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Friday, August 27, 2010
Crude Oil Bearish Outlook / Commodities / Crude Oil
By: Seven_Days_Ahead
We wrote in early August of the pressures on oil – when the market was tested the resistance at the bottom of the Bear Rising Wedge in the weekly market. Even then we noted the ‘the coincident resistance of the parallel diagonals and the lower
diagonal of the wedge above the market’ which suggested important resistance at that level. Sure enough it was. Now, sixteen trading days later, the market is much lower yet looks set to fall still lower.
Monday, August 23, 2010
Crude Oil Prices Spiral Downwards as Economic Gloom Intensifies / Commodities / Crude Oil
By: OilPrice_Com
Crude oil prices continued their downward spiral during the week as new data confirmed that U.S. economic growth is slowing.The benchmark West Texas Intermediate contract settled 2.6% lower for the week on Friday, at $73.46 a barrel compared to the $75.39 close a week ago, itself a decline of 7% from the previous week.
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Saturday, August 21, 2010
OECD Oil Consumption, Transportation, Emissions, Biofuels and Whiskey / Commodities / Crude Oil
By: Dian_L_Chu
A new report released by the Carbon Disclosure Project notes that globally, 98% of transportation runs on fuel made from oil. The transportation sector is responsible for almost 60% of oil consumption in OECD countries.
This heavy dependence on oil has resulted in the transportation sector generating 13% of total global emissions, compared to 26% from the power sector and 14% from agriculture (Fig. 1). And out of all the modes of transportation, road vehicles generate the lion's share of the transportation sector’s total contribution to CO2 emissions --approximately 80% (Fig. 2).
Tuesday, August 17, 2010
They Died Before the Oil Ran Out / Commodities / Crude Oil
By: OilPrice_Com
There is an open secret in the oil industry that dare not speak its name: peak oil.
Well, two did speak its name and gained no acclaim for it. One, M. King Hubbert, died years ago. The other and the most controversial, Matthew Simmons, died at his Maine summer home Aug. 8.
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Saturday, August 14, 2010
Crude Oil Prices Fall Below $80 Again as Officials Anticipate Slower Growth / Commodities / Crude Oil
By: OilPrice_Com
Crude oil prices slumped below $80 a barrel again this week as the Federal Reserve and other official forecasters took a dimmer view of the economic recovery.Friday’s closing price for the benchmark West Texas Intermediate futures contract of $75.39 a barrel marked a retreat from the contract’s short-lived foray outside the $70 to $80 a barrel range it has been trapped in for months. Prices fell nearly 7% from last Friday’s close of $80.70 a barrel.
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Friday, August 13, 2010
Climb in UltraShort DJ-UBS Crude Oil ETF / Commodities / Crude Oil
By: Mike_Paulenoff
From a near-term perspective, the August advance in the UltraShort DJ-UBS Crude Oil ProShares (NYSE: SCO) has climbed sharply to and actually pierced above its May-August down trendline today at 14.85/90. Perhaps more impressive is that the price structure is consolidating (so far) above the trendline, which is a potentially bullish sign of still more upside directly ahead, that projects to 15.25, and then 16.25/50 thereafter.
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Sunday, August 08, 2010
U.S. Crude Oil Distillate Demand Falling off a Cliff / Commodities / Crude Oil
By: Dian_L_Chu
Crude Oil had a breakout this week as the risk trade was put on, it benefitted from the short the dollar, and go long commodities play. Plus equities have been testing the higher levels, and trying to establish a higher trading range.
Friday, August 06, 2010
The Pressures on Crude Oil / Commodities / Crude Oil
By: Seven_Days_Ahead
Since the sharp sell-off back in May at the height of the Euro zone sovereign debt crisis, oil has experienced a long slow recovery, which for most of that time looked like no more than a prolonged period of sideways trading.
Thursday, August 05, 2010
Why You Should Worry About the Iran Oil Sanctions / Commodities / Crude Oil
By: Money_Morning
Kent Moors writes:
I cut my teeth doing energy-related deals in the Soviet Union and still spend a lot of time consulting in Russia and the Caspian Sea basin. These days, my work takes me all over the globe. But the part of the world where my career began still holds the key for future oil supplies.
Especially the Caspian.
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Tuesday, August 03, 2010
No Leaks in this Crude Oil Market / Commodities / Crude Oil
By: INO
The massive move-up in crude oil on Monday created a new dynamic for this in-the-news market. The move to two-month highs completed one of our favorite major technical formations.
Monday, August 02, 2010
Macro Blues Overshadow Crude Oil / Commodities / Crude Oil
By: Dian_L_Chu
Crude oil has been trading within the range of $75-$80 for the fourth consecutive week with investors now focusing on a slowing economy and rising inventories in the United States, one of the top two oil consumers in the world.
However, the latest data indications from these two areas are not at all encouraging, and I will discuss some of them in the following sections.
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Saturday, July 31, 2010
Cloudy Economic Outlook Keeps Crude Oil Trading in Narrow Range for Week / Commodities / Crude Oil
By: OilPrice_Com
Crude oil futures continued to trade in a very narrow range, unable to cross the $79 a barrel threshold even though they ended 4.4% higher on the month.The benchmark West Texas Intermediate rallied with the stock market late Friday to finish the week at $78.95 a barrel, virtually unchanged from $78.98 a week ago, after dipping just below $77 a barrel earlier in the week. End-of-month trading might have accounted for some the late gains, analysts said.
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Thursday, July 29, 2010
Is the Future of U.S. Oil Really Secure? / Commodities / Crude Oil
By: Marin_Katusa
Marin Katusa, Chief Energy Strategist, Casey Energy Report writes: Two words that any oil company dreads to hear are “export duty.” Especially if the word “increases” or “introduced” is floating around there too.
So when Kazakhstan introduced an oil export duty to meet shortfalls in the national budget, the mood wasn’t exactly jovial.
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Wednesday, July 28, 2010
Crude Oil Prices Below $80 On Sluggish Demand / Commodities / Crude Oil
By: LiveCharts
Oil prices are hovering just below $80 per barrel, at around $79 for September crude delivery in Tuesday’s (July 27) early New York Mercantile Exchange trade. Still moving in sync with equities in the big picture, the price of oil is limited by continued reports of sluggish crude demand levels in the US.
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Monday, July 26, 2010
Crude Oil Headed Unimaginably Higher! / Commodities / Crude Oil
By: Larry_Edelson
A very well-known and internationally respected forecasting firm believes the price of oil is headed “unimaginably higher” in the next few years. To somewhere north of $300 a barrel. I couldn’t agree more.
What will drive the price of oil so much higher, when most of the western world is either in a deep recession, or worse, a depression?
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Saturday, July 24, 2010
Crude Oil Prices Show Little Momentum for Breaking Through $80 Barrier / Commodities / Crude Oil
By: OilPrice_Com
Prices of crude oil futures slumped below $79 a barrel on Friday despite a stock market rally and the rise of Tropical Storm Bonnie in the Gulf of Mexico.The downward turn on Friday followed a sharp gain Thursday amid positive corporate earnings reports that some saw as a signal of economic recovery and the brewing tropical storm.
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Thursday, July 22, 2010
Can OPEC Beat The Black Swans ? / Commodities / Crude Oil
By: Andrew_McKillop
Cheap oil doesnt help economic growth - Only about 10 years ago New Economists chimed that oil and gold are Sunset Commodities.
So abundant, so low utility for the fastfood and finance derivatives based all-modern world of
supermarket caddy wheelers and M&A guzzlers, that their price would just fade and drift
away to nothing. Quite soon, they hinted, oil will be free and gold will be a harmless and
cheap barbarous relic, just like Keynes always said.
Thursday, July 22, 2010
Securing Uganda’s Oil Industry From Terrorist Attacks / Politics / Crude Oil
By: OilPrice_Com
Although the Ugandan government can boost the security of its fledgling oil industry from future terrorist attacks that may scare away certain investors, Africa analysts doubt violence replicating the twin bombs that struck during the World Cup final is likely.
Somali militant group al-Shabab claimed responsibility for explosions that tore through the capital Kampala July 11 and killed more than 70 people.
Wednesday, July 21, 2010
Full Access to all of EWI's Intensive Energy Specialty Services / Commodities / Crude Oil
By: Nadeem_Walayat
We have managed to secure FREE access to Elliott Wave International's premium services at ZERO cost to you.
You can access EWI's intraday, daily, weekly and monthly forecasts from EWI's Energy Specialty Service right now through noon Eastern time Wednesday, July 28. This service is valued at $347/month, but you can get it FREE for one week only!
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