Category: Crude Oil
The analysis published under this category are as follows.
Monday, March 03, 2014
New Spy Technology to Spawn Oil Revolution / Commodities / Crude Oil
By: OilPrice_Com
The future of oil exploration lies in new technology--from massive data-processing supercomputers to 4D seismic to early-phase airborne spy technology that can pinpoint prospective reservoirs. Oil and gas is getting bigger, deeper, faster and more efficient, with new technology chipping away at “peak oil” concerns. Hydraulic fracturing has caught mainstream attention, other high-tech developments in exploration and discovery have kept this ball rolling.
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Monday, March 03, 2014
Does the Keystone XL Pipeline Still Matter? / Commodities / Crude Oil
By: Ronan_Keenan
Last month it seemed the Keystone XL pipeline was nearing approval, but as with most things surrounding the project, things weren’t as they seemed. A US state department report reviewed the Alberta, Canada–Nebraska pipeline and indicated the project was unlikely to have a significant impact on climate change. This seemed like a significant positive step for pipeline, but within the details of report were critical comments from the Environmental Protection Agency.
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Sunday, February 23, 2014
Gold and Crude Oil Short-term Outlook / Commodities / Crude Oil
By: Gregor_Horvat
Gold has moved well above 1300 mark, and is forming an extended leg from 1251, triangle low. Notice that we have adjusted the wave count, but we see a corrective advance from 1181 now at 1330 resistance. We are observing more simple count now this time; a zigzag with a triangle placed in wave (b). We also know that wave (b) pattern CANNOT be labeled as wave two, because triangles never occur in wave two position. So, because of that situation we are even more confident that rally is a contra-trend and that gains will be limited. A decline beneath 1290 area could be an important sign for a confirmed top.
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Saturday, February 22, 2014
Crude Oil Price Declines Slightly / Commodities / Crude Oil
By: Nadia_Simmons
Trading position (short-term): In our opinion no positions are justified from the risk/reward perspective.
On Thursday, crude oil moved lower as the U.S. dollar strengthened after solid U.S. economic data and stocks of distillates fell less-than-expected. Despite this small drop, light crude still remains near a 4-month high, slightly below $103 per barrel.
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Monday, February 17, 2014
America's 99 Problems… But Crude Oil Ain’t One of Them / Commodities / Crude Oil
By: Marin_Katusa
America has some serious problems.
Despite the fact that the United States spends $15,171 per student—more than any other country in the world—American students consistently trail their foreign counterparts, ranking 23rd in science and 31st in math.
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Friday, February 14, 2014
Oil Trading Alert: Crude Oil Price Hits Fresh Monthly High / Commodities / Crude Oil
By: Nadia_Simmons
Trading position (short-term): In our opinion no positions are justified from the risk/reward perspective.
On Wednesday, crude oil rose on better than expected economic data from China and climbed to its highest level since late October. Despite an increase to a fresh monthly high, light crude reversed after the EIA data showed that crude inventories rose more than expected. In this way, crude oil lost 0.11%, but closed the day above $100 per barrel.
Monday, February 10, 2014
Crude Oil Trading Alert: Oil Price Hits Fresh Monthly High / Commodities / Crude Oil
By: Nadia_Simmons
Trading position (short-term): In our opinion no positions are justified from the risk/reward perspective.
On Friday, crude oil gained 2.27% as the U.S. dollar weakened against major currencies after a monthly U.S. employment report came in weaker than expected. Thanks to these circumstances, light crude extended gains and rose above $100 per barrel for the first time in more than a month.
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Tuesday, February 04, 2014
Oil Trading Alert: Crude Oil Price Extends Declines / Commodities / Crude Oil
By: Nadia_Simmons
On Monday, crude oil lost 0.84% as weaker-than-expected U.S. and Chinese economic data fueled concerns over crude oil demand. Thanks to this news, light crude closed the day below $97 for the first time since Jan 27.
Data released over the weekend showed that China's Manufacturing Purchasing Managers' Index dropped to a six-month low, falling to 50.5 in January from 51.0 in December. This weaker-than-expected numbers raised questions about economic growth in the world's second largest oil consumer (after the U.S.) and weighted on the price of light crude.
Tuesday, February 04, 2014
NYMEX No Future For Crude Oil Futures / Commodities / Crude Oil
By: Andrew_McKillop
Potatoes to Oil
According to Leah McGrath Goodman's well-researched book “The Asylum: The Renegades Who Hijacked the World's Oil Market", the start of Nymex oil trading was in major part due to traders who stumbled upon oil futures after screwing up Maine potato futures. Their trading “industry” or gambling party had been built on predicting the Maine potato harvest, and—much more importantly—trying to manipulate potato prices, to the point that regulators were finally forced to act. They shut down the potato futures market in 1976, after repeated defaults on physical deliveries of more than 25 000 tons of potatoes. As Goodman explains, the traders were forced to cast around for something else to trade. Then-Chairman of the Nymex, Michael Marks tried to boost futures trading in boneless beef and plywood, but that didn't work. In 1978 however, Marks hit on the right thing and introduced heating oil futures - which was the jackpot gusher that led to 30 years of good times.
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Tuesday, January 21, 2014
OPEC Warned On 2014 Crude Oil Supply Glut / Commodities / Crude Oil
By: Andrew_McKillop
TIMELY ADVICE TO OPEC
Leo Drollas, the head of the Saudi-backed, London-based Centre for Global Energy Studies in a 3 December interview with New Europe on the eve of the 4 December OPEC meeting, itemized several supply-side reasons why present high oil prices are not forever. Apart from the USA's record-breaking output of oil driven by its shale-oil production, Drollas said: “Next year, Iraqi oil will increase by 300,000 barrels a day, we think at least, there will be 250,000 more from Venezuela, there will be possibly 1 more million barrels from Iran, when Iran comes back, and Libyan oil should return”.
Friday, January 17, 2014
Brent Crude Oil Price Faces Headwinds in 2014 / Commodities / Crude Oil
By: EconMatters
EIA Petroleum Report
In reviewing the EIA weekly petroleum report, the oil imports figure came in at 6.889 (Million Barrels per Day) for the week ending 01/10/14. This number compared to a year ago 8.030 (Million Barrels per Day) puts a nice cap on the downtrend which really started gaining steam in 2010 onward.
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Thursday, January 09, 2014
Violence Threatens to Thwart Iraqi Crude Oil Resurgence / Commodities / Crude Oil
By: OilPrice_Com
A wave of violence has swept parts of Iraq at the start of 2014 as the central government fights back against Al-Qaeda aligned militants in Anbar Province. The Islamic State of Iraq and the Levant (ISIL) reportedly took control of Ramadi and Fallujah, bombing police headquarters and killing dozens. On New Year's Day Prime Minister Nouri al-Maliki sent in reinforcements to take back control of Anbar Province's two largest cities. The clashes kick off 2014 in much the same way as 2013 ended – a return to violence in a country that had seen important security gains in recent years.
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Thursday, January 09, 2014
What 2014 Has in Store for Crude Oil Prices / Commodities / Crude Oil
By: DailyGainsLetter
Mohammad Zulfiqar writes: Since September 2013, crude oil prices have come down. This has left many investors question where they are headed next. In September of last year, crude oil prices reached as high as $110.00, and now they trade almost 15% lower, around the $94.00 level. Look at the chart below to get the precise picture.
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Saturday, December 28, 2013
Crude Oil Price Corrective Rally / Commodities / Crude Oil
By: Gregor_Horvat
Crude oil is still trading to the upside towards $100 per barel. It seems that move from 96.20 is in five waves so we adjusted the wave count as market could already be making wave C, final leg of wave 4) that could turn down from 100-101 resistancea area.
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Thursday, December 26, 2013
Relaxing U.S. Crude Oil Exports Ban is Bad News for Consumers / Commodities / Crude Oil
By: EconMatters
US Energy Boom
The US is producing much more energy domestically the last decade in all forms from natural gas to crude oil with a myriad of boutique products along the way, and so it is natural for producers to want to maximize profits by expanding their marketplace.
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Friday, December 20, 2013
What the Fed Taper Means for Crude Oil Prices / Commodities / Crude Oil
By: Money_Morning
Dr. Kent Moors writes: Yesterday afternoon, after much gnashing of teeth, the Fed finally revealed its long awaited taper plans…
And the DOW jumped by almost 300 points.
Now, the taper itself is small to start – just a $10 billion reduction for the month of January. But the announcement was coupled with a pledge to keep the fed funds rate at zero beyond the 6.5% unemployment threshold.
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Wednesday, December 18, 2013
Collapse Looming for Crude Oil Market in 2014? / Commodities / Crude Oil
By: Pravda
Foreign experts provide devastating forecasts for the oil market and believe that the conflicts in the Middle East would affect the value of "black gold." According to the experts, price per barrel will fall at least five times. One of the major players, the Russian Federation, will then be in a disadvantaged position. However, Russian experts were quite amused by these forecasts.
Monday, December 16, 2013
How China Just Grabbed 90% of Ecuador’s Oil / Politics / Crude Oil
By: Money_Morning
Dr. Kent Moors writes: I was a guest on Chinese national television last night. The discussion was via a live satellite link that had me sitting in a Pittsburgh studio with the feed traveling through their affiliate in Washington.
I’ve done this before. But this time the discussion was all about a subject I have been personally involved in.
It had to do with the big Chinese move into Ecuador – one that has given Beijing the upper hand over who really controls of the country’s oil.
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Wednesday, December 11, 2013
Crude Oil Prices Could Fall to $80/Barrel? / Commodities / Crude Oil
By: InvestmentContrarian
George Leong writes: Oil prices are heading higher on the chart with the cash West Texas Intermediate (WTI) crude rallying back toward the $100.00 level after threatening to test $90.00.
Steady economic signs in the United States, China, and Japan—the three largest economies in the world—along with some muted growth in the eurozone and Europe are adding some spark to the oil futures… But hold on; doesn’t the buying seem somewhat premature?
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Wednesday, December 11, 2013
Crude Oil Price Three Legs Up To $100 / Commodities / Crude Oil
By: Gregor_Horvat
Crude oil reversed sharply to the upside last week so it seems that five waves down completed wave 3) and that current rally is a part of a contra trend reaction. We are talking about wave 4) that could stop around 100 area, but after three legs. For now, we see only one leg from the lows so expect to see more sideways or even bullish price action during the next few days.