"The Fed always have the fail-safe that they are data dependent. They always say they are going to act based on the data. They have actually never committed to doing anything. What is amazing is that the Fed has any credibility at all. Because I don't know why people haven't figured out this [...]
"A break above here, if seen, would suggest extended gains towards at least the $62.50 area as we move towards early 2017. On a longer term basis the 55 – 200 week moving average setup and this inverted head and shoulders would suggest that the gains could be into the low $70’s (this would be [...]
"This year is proving that strippers are much tougher than many analysts gave them credit for. While many strippers have taken action to cut back some of their less profitable wells, by and large, stripper production is much more resilient than many had expected. That reality holds important implications for the industry at large - [...]
Readers of this site should already have a good sense of how economic policies affect oil prices. For the past year, this site has provided sources of information that predicted the teetering stock market and unstable oil prices. For those that have frequent the first iteration of our Facebook page, for the past [...]
"The improvement in oil fundamentals remains fragile and continues to feature large offsetting forces: wildfires have helped offset surprisingly strong Iran production, slowing demand growth in India and China in 2H16 will help offset production issues in Nigeria and Venezuela and finally product builds have offset crude draws. Uncertainties in the near-term oil outlook thus [...]
"The world remains oversupplied with crude oil, but the fact that it has become very oversupplied with gasoline is currently worrying the market. "The gasoline inventories are 10 percent above a year ago level, and that's feeding back into crude," said Greg Priddy, director of global energy at Eurasia Group. The real fear is that [...]
"The recession in Alberta will be its worst in at least three decades and will be among its longest as well, economists at TD Bank said in a new report. The bank recently downgraded its forecast for the province, following the devastating wildfires in the Fort McMurray area in May. It now expects Alberta’s economy [...]
"The oil markets have fallen back from the $50 per barrel mark due to questionable Chinese demand and an expectation of early restoration of supply outages. Crude is currently entering a corrective phase, which could take it down to $42 per barrel and lower." Image Source: Ding Jianzhou / Imaginechina via Bloomberg Source: oilprice.com
"Oil prices fell nearly 5 percent on Thursday, reversing early gains after the U.S. government reported a weekly crude draw that disappointed market bulls expecting larger declines. U.S. commercial crude stockpiles fell by 2.2 million barrels to a total of 524.4 million in the week through July 1, the Energy Information Administration reported." Image Source: [...]
"Commodity investors generally agree that the oil market is coming into balance, but huge stockpiles of fuel and teeming strategic Chinese crude inventories could send prices on one last, ugly slide lower, analysts tell CNBC." Source: cnbc.com