Oil facing slew of challenges

If the Brent goes up, does the WTI go down? US WTI oil prices are pulling back due in part to a mountain of U.S. supply; yet Egyptian concerns and peak oil concerns keep the Brent rocking.

Rumors of the death of the Saudi King have been denied and the Saudis are denying the reports that their production has peaked. They are keeping uncertainty in the marketplace.

Europe is more concerned about what the International Energy Agency said is significantly tightening supply.

The oil market has been trading in some fascinating ranges! Some bullet points to ponder as I struggle with computer trouble.

Phil Flynn is senior energy analyst for PFGBest Research and a Fox Business Network contributor. He can be reached at (800) 935-6487 or at pflynn@pfgbest.com.

About the Author
Phil Flynn

Senior energy analyst at The PRICE Futures Group and a Fox Business Network contributor. He is one of the world's leading market analysts, providing individual investors, professional traders, and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline, and energy markets. His precise and timely forecasts have come to be in great demand by industry and media worldwide and his impressive career goes back almost three decades, gaining attention with his market calls and energetic personality as writer of The Energy Report. You can contact Phil by phone at (888) 264-5665 or by email at pflynn@pricegroup.com. Learn even more on our website at www.pricegroup.com.

 

Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The information presented by The PRICE Futures Group is from sources believed to be reliable and all information reported is subject to change without notice.


Comments
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome