Category: Crude Oil
The analysis published under this category are as follows.
Friday, August 19, 2016
Saudis Ramping Up Oil Output To Gain Leverage In OPEC Talks / Commodities / Crude Oil
By: OilPrice_Com
Saudi Arabia suggests it may be increasing its August crude output to a new all-time high as it could give it more leverage to influence the September informal talks on a possible production freeze, Reuters reported on Wednesday, citing industry sources.
Saudi Arabia – OPEC’s biggest producer — pumped a record 10.67 million barrels per day in July, up by some 120,000 bpd compared to June. The Saudis are usually ramping up production in the summer with the higher demand for crude, but what was unusual was that production hit a record high, above last summer’s peak.
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Friday, August 19, 2016
Higher Crude Oil’s Prices and USD/CAD / Commodities / Crude Oil
By: Nadia_Simmons
Earlier today, the USD Index extended losses against its Canadian counterpart after the disappointing minutes of the Federal Reserve’s policy meeting (they vanished expectations for a September rate hike) continued to weigh on investors’ sentiment. Additionally, rising prices of crude oil supported Canadian currency, which pushed USD/CAD under 1.2800. What’s next for the exchange rate?
In our opinion, the following forex trading positions are justified – summary:
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Friday, August 12, 2016
Is the Crude Oil Price Rally Over? / Commodities / Crude Oil
By: Nadia_Simmons
Trading position (short-term; our opinion): Long positions (stop loss at $37.23; initial upside target at $46.90) are justified from the risk/reward perspective.
Crude oil declined on Wednesday only to shoot up with vengeance yesterday, exceeding the previous August highs. Still, crude oil declined a bit before the session was over, so many investors are wondering if the rally is already over – is this the case?
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Friday, August 12, 2016
Crude Oil Price Bottom likely to Propel Dow Industrials Higher / Commodities / Crude Oil
By: Sol_Palha
The minute you settle for less than you deserve, you get even less than you settled for. Maureen Dowd
The chart below clearly illustrates that a relationship exists between crude oil and the Dow. For most of the 1st half of 2015, oil traded sideways, and the Dow followed suit. Then, around July of 2015, oil broke down, and the Dow followed in its footsteps. We see a similar pattern from Nov-Dec 2015; oil headed lower, and the Dow once again followed in its footsteps; so much for the argument that states lower oil prices are conducive for the markets.
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Tuesday, August 09, 2016
Will this Crude Oil Price Rally hold? / Commodities / Crude Oil
By: Bob_Loukas
Crude has finally reversed higher to recover some of its recent losses, and is now showing clear evidence of a new Daily Cycle (DC) and Crude Oil Rally. There are early signs of a new Investor Cycle (IC) as well.
Midweek, Crude bottomed on day 44 before reversing sharply higher and punching through the declining trend-line. And when it closed above the 10 day moving average, Crude confirmed that it is in the early stages of a new Daily Cycle. From this point forward, Crude’s performance will depend on its Investor Cycle and the bear market as a whole.
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Thursday, August 04, 2016
Today's Downturn Sets Markets Up For A Dramatic Oil Price Spike / Commodities / Crude Oil
By: OilPrice_Com
Another oil price downturn threatens to deepen the plunging levels of investment in upstream oil and gas production, which could create a more acute price spike in the years ahead.Oil and gas companies have gutted their capex budgets, necessary moves as drillers went deep into the red following the crash in oil prices. But the sharp cutback in investment means that huge volumes of oil that would have otherwise come online in five or ten years now will remain on the sidelines.
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Monday, August 01, 2016
WTI Forecast Pattern Suggests Higher Crude Oil Prices Coming / Commodities / Crude Oil
By: Ken_Ticehurst
WTI having recently topped out at $50 per barrel, is now possibly ending a decent consolidation having moved off its start of the year lows. Our longer term patterns show the strong possibility of a rise to $60+ during the second half of this year before a further decline in to 2017.
Friday, July 29, 2016
Crude Oil CFDs - What to Expect in the Coming Months / Commodities / Crude Oil
By: Boris_Dzhingarov
The oil market is globalised, and it works for 24 hours a day. It is also very sensitive, so prices are constantly fluctuating. This is why day traders can benefit from this market, particularly if they trade on oil prices with the help of CFDs (contracts for difference).
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Thursday, July 21, 2016
Did Oil Kill The Dinosaurs? / Commodities / Crude Oil
By: OilPrice_Com
What killed the dinosaurs? It's a question as old as – well the dinosaurs themselves, and one that everyone from school children to scientists have been asking for decades. Movies like Jurassic Park and the Land Before Time only heighten that sense of wonder and raise the stakes behind that question. Now according to a new scientific study, it seems that black gold may have been the source of the dinos' demise.Read full article... Read full article...
Tuesday, July 19, 2016
The Peak Oil Paradox Revisited / Commodities / Crude Oil
By: Raul_I_Meijer
It’s been a while since we posted an article by our friend Euan Mearns, who was active at The Oil Drum at the same time Nicole and I were. Is it really 11 years ago that started, and almost 9 since we left? You know the drill: we ‘departed’ because they didn’t want us to cover finance, which we said was the more immediate crisis, yada yada. Euan stayed on for longer, and the once unequalled Oil Drum is no more.
On one of our long tours, which were based around Nicole’s brilliant public speaking engagements, we went to see Euan in Scotland, he teaches at Aberdeen University. I think it was 2011?! An honor. Anyway, always a friend.
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Thursday, July 14, 2016
Successfully Forecasting Crude Oil Price from 2014 to Today / Commodities / Crude Oil
By: EWI
The Wave Principle helped investors prepare for today's energy market action
March 31, 2014 was no time to issue a bearish forecast for crude oil -- or so it appeared.
But that's exactly the scenario Elliott Wave International's founder Bob Prechter showed his subscribers in his monthly Elliott Wave Theorist.
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Wednesday, July 13, 2016
Oil Industry Faces Huge Worker Shortage / Commodities / Crude Oil
By: OilPrice_Com
The rig count has rebounded from the lows seen in late May, a small indication that oil companies in the U.S. could begin drilling anew. Shale drilling is a short-cycle prospect, requiring only a few weeks to drill and bring a well online. Because of this, the collective U.S. shale industry has been likened to the new "swing producer": low oil prices force quick cutbacks but higher prices trigger new supplies. In essence, shale could balance the market in the way OPEC used to.
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Tuesday, July 12, 2016
Crude Oil - Precious Metals Link / Commodities / Crude Oil
By: Nadia_Simmons
In the recent few weeks oil bulls and bears fought battles between the barrier of $50 (the key resistance) and the green support zone based on the Apr and early May highs. After several unsuccessful attempts to move higher oil bears took control and crude oil closed Thursday's and Friday's sessions under its first important support zone. How did this drop affect the oil-to gold and oil-to-silver ratios? Let's jump right into charts (chart courtesy of http://stockcharts.com) and find out.
Wednesday, June 22, 2016
Increase In U.S. Rig Count Will Not Cap Oil Prices / Commodities / Crude Oil
By: OilPrice_Com
The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. The premise was you could get out of the army if you were crazy but you weren’t crazy to try to get out of the army. So this avenue to escape the war didn’t work for the book’s main character John Yossarian. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. With WTI back above $50 a barrel – at least briefly last week – North American LTO developers are putting rigs, service equipment and personnel back to work. The so-called “fraclog” or “DUC” inventory (wells drilled but uncompleted) is being reduced. While this is good it is also thought by some to be temporary.
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Thursday, June 16, 2016
Crude Oil Price - Oil Bears vs. Support Zone / Commodities / Crude Oil
By: Nadia_Simmons
Trading position (short-term; our opinion): No positions are justified from the risk/reward perspective.
On Tuesday, crude oil lost 1.36% as rising uncertainty around Brexit weighed on investors' sentiment (leaving the European Union by Britain could trigger a recession and slow demand for crude in Europe). In these circumstances, light crude declined under the short-term support line and approached the Jun lows. Will we see lower prices in the coming days?
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Tuesday, June 07, 2016
Crude Oil Price Is Due for a Correction / Commodities / Crude Oil
By: The_Energy_Report
Technical analyst Jack Chan demonstrates the divergence between oil equity prices and the underlying commodity.
Saturday, June 04, 2016
Why Crude Oil $50 Won't Last, Chances of a Breakdown Are High / Commodities / Crude Oil
By: The_Energy_Report
Technical analyst and newsletter writer Clive Maund lists the reasons he believes oil prices, which recently peaked above $50/barrel, are headed for a fall.
It still looks like oil is topping out here at about the $50 level after its substantial recovery uptrend from its February low. While we cannot be sure until it breaks down from its uptrend, the chances of its doing so soon look high for various reasons.
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Thursday, June 02, 2016
On the Price of Oil / Commodities / Crude Oil
By: Steve_H_Hanke
Since its high of almost $108/bbl in June of 2014, we have witnessed a stunning collapse in the price of oil. Indeed, in February 2016, a barrel of West Texas Intermediate (WTI) was trading at $26/bbl, a 76 percent plunge from the June 2014 highs. It has since clawed its way back to $49/bbl (May 24th).Read full article... Read full article...
Tuesday, May 31, 2016
3 Years Of Painful Cuts Sets Oil Markets Up For Serious Supply Crunch / Commodities / Crude Oil
By: OilPrice_Com
Total global oil production could decline for the next several years in a row as scarce new sources of supply come online.
According to data from Rystad Energy, overall global oil output will fall this year as natural depletion overwhelms all new sources of supply. But the deficit will only widen in the years ahead due to the dramatic scaling back in spending on new exploration and development.
Monday, May 30, 2016
Smart Oil Traders Who Realize This Pattern Could Make a Killing / Commodities / Crude Oil
By: Graham_Summers
The markets are tracking the same pattern that played out in 2015.
Most market action (more than 80%) today is driven by computer algorithms. These programs look for an asset class that is moving, and then buy based on the momentum.
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