Crude oil dynamics continue turning bullish

Oil traded down to the 90 handle before bouncing a bit as we head into what will be a historic week in energy. We will see the first oil in the gulf from the reversal of the Seaway Pipeline, a watershed event that is symbolic of the changing energy dynamic here and around the globe. As the United States and Canada take advantage of new technologies, North America will now be an exporter to the new emerging markets.

At the same time a showdown with Iran looms. A visit by weapon inspectors to Iran is raising hopes that perhaps sanctions will force Iran into better behavior.

In the meantime oil supply in the United States most likely rose again. Supply, already at a 22-year high, will rise as Canadian and domestic production will increase supply again at Cushing, Oklahoma. Look for crude to rise by 2.0 million barrels. Gas could increase by 2 million barrels and distillates will fall by 1.0 million barrels. Runs will increase by 1.5%.


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 Learn even more on our website at


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