Energy

Energy Report

Mixed Messages And Seasonal Weakness Have Energy Markets In A Choppy Trading Range

Phil Flynn
March 31, 2021
Oil prices await the outcome of the OPEC+ decision while trying to get a handle on the Biden administration infrastructure plan, along with strong data from China that could increase oil demand expectations.
Energy Report

The Crude Oil World Is Swinging As The Congestion Trading Continues

Phil Flynn
March 30, 2021
The market awaits the OPEC+ decision that, at this point, looks like a foregone conclusion as it celebrates the reopening of the Suez Canal. Oil is retreating, as the market is looking at the reopening of the Suez Canal as some type of watershed bearish event.
Energy Report

The Suez Canal May Be Unblocked, But Delays In Oil & Gas Supply Are Just Beginning

Phil Flynn
March 29, 2021
Reports that the ship had been refloated and freed caused a drop in oil, but prices soon bounced back up as a larger reality sunk in. The truth is that oil and LNG product supplies will be delayed, and that won’t help a market that’s on track to be undersupplied this summer as more Covid-19 vaccinations inspire more demand.
The Energy Report

The Blockage Of The Suez Canal Could Spell Trouble For The Global Economy

Phil Flynn
March 25, 2021
The MV Ever Given container ship is still stuck, blocking the waterway: anywhere from 165 to 185 vessels are waiting to resume trips to their destinations. The longer it takes, the bigger the hit we may see to the global economy.
Energy Report

Sharp Selloff In Crude Oil Seems To Be Exhausted

Phil Flynn
March 24, 2021
The sharp selloff in oil looks exhausted and the fact that German manufacturing data blew away expectations will likely ease oil demand worries.
Energy Report

Oil Prices Are On A Quest To Retest Key Bollinger Band Support

Phil Flynn
March 23, 2021
Oil's failure to hold its rally was helped by questions surrounding the AstraZeneca vaccine: not in Europe this time, but in the United States. 
Energy Report

The IEA Claims That An Oil 'Supercycle' Is Unlikely

Phil Flynn
March 17, 2021
The IEA has declared that a “supercycle” in oil demand is unlikely while also admitting that the agency had underestimated demand in their last report. In fact the IEA’s had a long track record of underestimating demand. 
The Energy Report

Oil Struggles As Vaccine Safety Concerns Rise

Phil Flynn
March 16, 2021
General demand optimism has had an influence on oil, as the market expects that we’ll see oil demand come back to pre-pandemic levels quickly as the world gets vaccinated. However, now there’s a fly in the ointment.
Energy Report

Oil Demand In China And India Are Exceeding Pre-Pandemic Levels: Is The U.S. Next?

Phil Flynn
March 15, 2021
Both Chinese and Indian demand for oil are exceeding pre-pandemic levels, and now the U.S. gasoline demand is also recovering to near-normal levels. Data shows that U.S. gasoline demand last week was just 0.98% below what it was during the same week last year, considered pre-pandemic.
Energy Report

Will The Biden Administration Call Iran And China Out On Their Violation Of U.S. Oil Sanctions?

Phil Flynn
March 11, 2021
Iran and China are opening, taunting the Biden administration as it openly flaunts oil sanctions on Iran, even as Iran raises its enrichment of uranium.