It’s close to midnight and something’s selling crude oil futures in the dark. Under the moonlight, you see a drop that almost Stops Your Stop. You Try to Scream, but the computer.....
It’s a jam-packed Fed Day and U.S benchmarks are flat looking to the open. Earnings remain in the spotlight when Facebook and then Apple report.
Are there insider trading leaks of American Petroleum Institute (API) data? Hoe does it influence oil traders? The API is an industry group that collects data on supply voluntarily
It was a strong start to the week with all four major U.S benchmarks gaining at least 0.5%. The ES and NQ each set fresh record highs and the board is stable ahead of the bell. Earnings remain in the spotlight.
The crude oil market is under pressure, not so much because the market is oversupplied today, but it might be tomorrow. The International Energy Agency IIEA with its consistent track record of underestimating demand.
The U.S. shale industry is expected to be rocked by subpar earnings and reports that bankers are running away from oil shale investments. This comes as Baker Hughes reported that the number of active U.S. rigs drilling for oil fell by 17 to 696 this week.
The big bear oil case consistently has been based on fears of a slowdown in the global economy. The only problem is that, once again, if you look at oil inventories, that case looks a bit flimsy.
Earnings and trade optimism have lifted the S&P back to highs of the week. Although it is flirting above a crucial marker at 3008.50, the NQ trails slightly in relevance to highs set Tuesday and last Thursday.
This is an oil market that has seen significant price declines on slowing growth fears as well as the so-called Saudi oil production recovery.
U.S benchmarks slipped late in the session yesterday after U.K Prime Minister Boris Johnson’s fast-track Brexit deal did not get through the House of Commons.