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By Dominick Chirichella |
February 13, 2013
The EIA and OPEC both increased their projection for global oil demand growth versus last month's reports with the IEA surprising the market by decreasing their forecast vs. last month.
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By Phil Flynn |
February 13, 2013
The oil market is once again in the grasp of global central bankers as currency fluctuations and not so much supply and demand seem to be the factors that are driving recent momentum.
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By Christine Buurma, Bloomberg |
February 12, 2013
The U.S. raised its forecast for natural gas output in 2013 by 0.3% and lowered its outlook for prices. Marketed gas production will average a record 70.02 billion cubic feet a day this year.
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By Phil Flynn |
February 7, 2013
Oil futures were falling hard as fears of a growing oil glut grew. Then magically, after a small drawdown in Cushing, Oklahoma, traders started to ask glut...what glut?
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By Dominick Chirichella |
February 6, 2013
Ever since the announcement that the flow through the Seaway pipeline would be constrained WTI's discount to Brent has been growing as the surplus of crude oil in the mid-west does not look like it is going to dissipate anytime soon.
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By Phil Flynn |
February 5, 2013
The Brent vs. West Texas Intermediate spread favored Brent by the biggest margin since December as the saga of reduced pipeline runs through the Seaway will back up oil in Cushing Oklahoma once again.
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By Dominick Chirichella |
January 23, 2013
Barring a major geopolitical event impacting the flow of oil to Europe, I would say that the Brent/WTI spread has likely peaked for the year and will continue in a slowly evolving downtrend throughout the year.
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By Phil Flynn |
January 22, 2013
Winter has come with a vengeance as we go into a deep freeze. Heating oil prices have been supporting products just as it seemed we were getting ready for our seasonal correction.
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By Phil Flynn |
January 17, 2013
Oil supply surprisingly fell yesterday as a drop in Saudi Production and a shutdown of the Seaway Pipeline for expansion took a toll on U.S. imports.
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By Dominick Chirichella |
January 16, 2013
In spite of market participants focusing more of their attention on the perception of what global oil demand might be down the road, the nearby fundamentals remains mostly biased to the bearish side.
