A key to investing in Russia is to focus on domestic areas of the market that are profitable and growing. While China’s urbanization gets a lot of attention today, in the case of the Soviet Union, urbanization happened back in the thirties.
Seasonal RBOB traders beware! The Energy Information Administration rocked the market by reporting a surge in oil supplies and rocking refinery runs. U.S. crude oil stocks climbed by a higher-than-expected 2.7M barrels.
Well a few tweaks to my model and we called the natural gas number right on the button. While my estimate was off of main stream expectations, the market hit a new high for the year on the 146bcf withdraw.
President Obama's choice of Ernest Moniz to lead the Department of Energy may be a signal to the gas market that indeed the U.S. will start along a path of sharing our natural gas abundance with the world and start exporting it.
The reverse in the euro caused a reversal in oil and to be honest, it was due for a sell off. The technical picture is playing out as we expected with the bottom in December to the top near $97 and now a target of $91.