Category: Crude Oil
The analysis published under this category are as follows.
Thursday, June 26, 2008
Crude Oil Retesting All-Time Highs / Commodities / Crude Oil
By: Mike_Paulenoff
The June triangle consolidation period in the U.S. Oil Fund ETF (AMEX: USO) likely ended yesterday, and has turned up with a vengeance and has propelled the USO towards a retest of the June (all-time) high at 113.00. The pattern itself represents a high-level bullish consolidation pattern that should resolve itself in a thrust into new high territory that projects into the 115.50 to 117.20 target zone. Only a decline that breaks yesterday's low at 106.83 will wreck the still bullish pattern.Read full article... Read full article...
Thursday, June 12, 2008
Oil Bull Market: It's Not Too Late to Profit! / Commodities / Crude Oil
By: Money_and_Markets
Larry Edelson writes: Being bullish (or bearish) on a market should not mean being blind. For instance, I've been forecasting sharply higher oil prices ever since I turned bullish way back in 2001. And I am still bullish. But I also keep my eyes wide open for anything that might get in the way of oil's bull market.
I often step back in order to make sure I'm not overly influenced by greed and fear, which are the dominant emotions on Wall Street. This is critically important when a market gets as euphoric as oil is today.
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Wednesday, June 11, 2008
Oil Crisis Set to Worsen as Crude Oil Exports Decline / Commodities / Crude Oil
By: Money_and_Markets
In ancient times, when mapmakers came to uncharted territory, they would scrawl: "Here There Be Dragons."
Flash-forward to the 21st Century; oil markets went into uncharted territory on the charts last week. Friday's dramatic spike up was the biggest one-day move EVER. Morgan Stanley now predicts that oil prices could hit $150 per barrel by the 4th of July.
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Saturday, June 07, 2008
Crude Oil Sets New High Above $139; Gold Surges as Dollar Dives / Commodities / Crude Oil
By: Jason_Simpkins
Crude oil for July delivery traded at an all-time high of $139.12 a barrel on the New York Mercantile Exchange today (Friday), after the U.S. dollar nosedived on speculation that the European Central Bank would raise its key lending rate and on worries that a bigger-than-expected spike in unemployment meant the U.S. economy was far weaker than feared.
For the day, July crude oil soared $10.75, or 8.4%, to close at an all-time high of $138.54. For the week, the contract climbed 8.8% on the NYMEX.
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Saturday, June 07, 2008
Crude Oil Prices vs the Power of Personality / Commodities / Crude Oil
By: Mike_Shedlock
Shura member calls for oil production curbs in Saudi Arabia .Saudi Arabia's Shura council (parliament) will hold a series of meetings over the next two weeks to discuss a controversial proposal by a key member to curb oil production to save reserves for better prices, Saudi media reported. The council will listen to a report by deputy chairman of the Shura water and public utilities committee, Salim bin Rashid Al Marri, who will argue for cutting crude supplies to maintain the Kingdom's underground reserves.
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Friday, June 06, 2008
Crude Oil Bull Market Corrections / Commodities / Crude Oil
By: Zeal_LLC
Without a doubt, crude oil is the most important commodity on our planet. Hypothetically if it vanished overnight, our entire modern world would collapse. No goods could move without the oil-derived transportation fuels, so virtually all trade would implode. Unlike nearly every other major commodity, there is just no economically-viable substitute for oil.
And the fundamentals driving oil's secular bull are unparalleled in their strength. As Asia awakens and enters the modern era, global demand for oil is rising relentlessly. Despite today's unprecedented prices, demand remains strong all over the world. And of course once oil is burned, it is gone forever.
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Tuesday, June 03, 2008
Crude Oil Crisis Coming to an End? / Commodities / Crude Oil
By: Clif_Droke
Now that the financial system has been bailed out, it remains for the beleaguered consumer to be rescued from the doldrums he currently faces. When will the consumer finally be freed from the torment that is so prevalent out there? It shouldn't surprise you that the answer will come from today's most talked about culprit: the price of oil.
With oil and gasoline prices through the roof, food prices on the rise and concerns about the stability of the U.S. economy prevalent, it's no wonder that consumer sentiment is at a multi-decade low right now. Take a look at the latest chart below.
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Saturday, May 31, 2008
The Great Oil Price Swindle- Market Manipulation or Fraud? / Commodities / Crude Oil
By: Mike_Whitney
The Commodity Futures and Trading Commission (CFTC) is investigating trading in oil futures to determine whether the surge in prices to record levels is the result of manipulation or fraud. They might want to take a look at wheat, rice and corn futures while they're at it. The whole thing is a hoax cooked up by the investment banks and hedge funds who are trying to dig their way out of the trillion dollar mortgage-backed securities (MBS) mess that they created by turning garbage loans into securities. That scam blew up in their face last August and left them scrounging for handouts from the Federal Reserve. Now the billions of dollars they're getting from the Fed is being diverted into commodities which is destabilizing the world economy; driving gas prices to the moon and triggering food riots across the planet. Read full article... Read full article...
Friday, May 30, 2008
Britain's North Sea Crude Oil Revenue Bonanza / Politics / Crude Oil
By: Nadeem_Walayat
The surge in the crude oil price has greatly benefited the major oil exporters such as the gulf states, Russia, Venezuela, and Norway. Despite Britains consumption of crude oil roughly matching production, the rise in crude oil has resulted in a huge continuing revenue bonanza for the British government through profit share on production, taxes on oil company profits and from tax revenues on domestic consumption, which has lead to protests amongst hauliers and motorists.Read full article... Read full article...
Friday, May 30, 2008
History is Moving- The Geopolitics of Crude Oil $130 / Politics / Crude Oil
By: John_Mauldin
The greyhairs among us remember the Arab Oil Embargo in 1973 and that economists of the time called it an "exogenous" shock to the system. For the first time, geopolitical events had a huge impact on world energy markets. All the financial models in the world got thrown out the window when OPEC simply said, "We won't sell at any price."
Since then, of course, geopolitics has been an integral topic for everybody that follows energy markets. And other commodities. And currencies. And debt and equity. In other words, the economists' distinction between "market factors" and "geopolitical events" has blurred into meaninglessness.
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Thursday, May 29, 2008
Crude Oil Bubble About to Burst? / Commodities / Crude Oil
By: Gary_Dorsch
“A trend in motion, will stay in motion, until some outside force, knocks it off its course!” After watching the parabolic rise in crude oil prices, doubling from a year ago, to above $130 a barrel last week, central bankers who under-estimated the power and resiliency of the “crude oil vigilantes”, are now praying for a “Bubble” that is destined to burst under its own weight, and at a moment's notice. In an interview with The Daily Telegraph, one of the world's biggest hedge fund traders, Mr George Soros said although the weak US dollar, depleting supplies from aging oil fields, government fuel subsidies, and record Chinese and Indian demand could explain the parabolic surge in energy prices, the crude oil market is also significantly inflated by speculation. “Speculation is increasingly affecting the price, which has a parabolic shape, which is characteristic of bubbles,” he said.
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Thursday, May 29, 2008
The Oil Price- We are Living in the Last Days of Cheap Resources / Commodities / Crude Oil
By: David_Vaughn
It looks like we may be paying 5 dollars a gallon for gasoline before the end of the summer.
There seems to be a great deal of speculation as to why the oil price is rising. Are the oil companies simply gouging American citizens? Perhaps OPEC is doing the gouging. Or maybe it would help things if the United States allowed for refineries to be built and oil to be drilled here in our own country.
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Thursday, May 29, 2008
The Solution to Peak Oil – A Crude Oil Super Spike! / Commodities / Crude Oil
By: Nadeem_Walayat
We may be witnessing a possible solution to the Peak Oil dilemma in the formation of an unsustainable speculation driven crude oil price super spike. The impact of which will be to shock corporate and private consumers into making the necessary changes in the near future to be able to better adapt to the real impact of Peak Oil which will mean the reduction of crude oil supply and hence fuel shortages.Read full article... Read full article...
Wednesday, May 28, 2008
Crude Oil $130 and Beyond / Commodities / Crude Oil
By: Roger_Conrad
Markets have a way of humbling even the most prescient prognosticator. That's definitely been the case for oil this decade.
There have been perfectly good reasons why oil prices couldn't break, let alone hold, every perceived milestone it's hit and passed in recent years—from the $20 level taken out in the run-up to the Iraq war to the $100 mark burst through this year. But even with a lot of very smart people betting against it, black gold has pushed on through, and the next impassible point has been shoved higher still.
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Tuesday, May 27, 2008
Don't Blame Crude OIl Speculation- Commodity Prices Are Driven by Fundamentals / Commodities / Crude Oil
By: Frank_Holmes
John Derrick writes: U.S. Global Investors (Nasdaq: GROW ) recently hosted a webcast titled “Energy and Commodities Trends: Speculative or Sustainable?” to provide a closer look at the current strength in natural resources prices. Our timing for this topic was good: oil prices hit a record $135 a barrel last week and drivers get more and more depressed every time they pull up to the gas pump.Read full article... Read full article...
Monday, May 26, 2008
Raising Margin Requirements May Spike Oil Prices Higher / Commodities / Crude Oil
By: Mack_Frankfurter
Commodity pricing theory mainly focuses on the transference of a “risk premia” from risk-adverse hedgers to speculators. This insurance-like context was first proposed by Keynes (1930) in his theory of normal backwardation. Essentially, Keynes believed that hedgers have to pay speculators a risk premium to convince them to accept their risk.
Dr. Richard Spurgin (2000) explained it in the following way. There are four types of participants in futures markets: short hedgers, long hedgers, speculators and arbitrageurs. Short hedgers are commercial producers and long hedgers are commercial consumers.
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Monday, May 26, 2008
Why Crude Oil Prices have Spiked Higher / Commodities / Crude Oil
By: Andy_Sutton
Maybe it is just bad timing. Maybe our luck has run out. Whatever the case, it is downright unfortunate that the full effects of skyrocketing world oil supplies had to be realized during the silly season of a presidential election cycle. It is virtually a lock at this point that what needs to be said will be left unsaid and what needs to be done will be left undone. This week as crude oil pierced the $130/bbl mark and headed all the way above $135 before pulling back a multiple of reasons were offered. Some have merit while others do not even deserve mentioning. Read full article... Read full article...
Saturday, May 24, 2008
Rising Crude Oil Price Brings Out Nut Case Energy Crisis Solutions / Commodities / Crude Oil
By: Mike_Shedlock
The price of oil has been soaring and nut case solutions are coming out of the woodwork in response. I have talked about this twice recently in Congress Threatens Oil Producers and Congressional Insanity: Sue OPEC over Oil Prices .But as silly as those actions are, it is nothing compared to the stark raving lunacy proposed by Martin Hutchinson in Time to do something about oil .
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Saturday, May 24, 2008
Crude Oil and the Polar Bear / Commodities / Crude Oil
By: Kurt_Kasun
Last week the Bush administration declared polar bears as threatened species, acknowledging that global warming jeopardizes the species' livelihood as a result of rapid Artic sea ice depletion. The polar bear serves as a symbol for those who view climate change and global warning as the most important issue of our time. On the contrary, the panda represents China 's seemingly insatiable appetite for consuming raw materials, with the world's resources being further strained by the unprecedented growing masses of people in India and other developing nations increasing their standard of living with their financial upward mobility out of poverty.Read full article... Read full article...
Friday, May 23, 2008
Upside Continuation for ProShares UltraShort Oil & Gas ETF (AMEX: DUG) / Commodities / Crude Oil
By: Mike_Paulenoff
The ProShares UltraShort Oil & Gas ETF (AMEX: DUG) is smacking right up against its 8-week resistance line at 28.25, which could stall the upmove off of Wednesday's low at 26.43. However, the overwhelming weight of my technical work argues for upside continuation towards 28.80-29.20 (corrected from numbers in chart below) prior to the initial bout of profit-taking.Read full article... Read full article...