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By Dominick Chirichella |
June 6, 2012
At the moment oil prices are still being mostly driven by the events discussed above along with the direction of the euro and the US dollar as well as by a view that the global economy is continuing to slow.
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By Dominick Chirichella |
May 30, 2012
Aside from all of the macro issues sending oil prices lower, supply and demand are more than in balance with a bias toward the oversupplied side of the equation. At the moment oil prices are still being mostly driven by the direction of the euro and the US dollar as...
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By Dominick A. Chirichella |
May 23, 2012
The tensions between Iran and the West have been easing as another meeting will take place tomorrow. As such, expect more market participants to pay attention to this week's round of oil inventory data and thus impact price direction.
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By Dominick Chirichella |
May 16, 2012
The fundamentals of oil are becoming more bearish as the inventories continue to build around the globe. The IEA reported last week that OECD inventories are now above the five year average while crude oil inventories in the US are at the highest level going back to the early 90s.
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By Dominick Chirichella |
May 9, 2012
From the oil complex perspective a slowing economy will result in slowing in oil demand growth and likely underperform the forecasts, including the latest one by the EIA discussed here.
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By Dominick Chirichella |
May 2, 2012
Oil prices have also been drifting lower overnight after the API data showed a build in crude oil stocks but a larger than expected draw in both gasoline and distillate fuel.
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By Dominick Chirichella |
April 25, 2012
At the moment oil prices are still being mostly driven by the direction of the euro and the US dollar as well as by a view that China's economy is continuing to slow. The tensions evolving in the Middle East between Iran and the West have been easing as another...
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By Dominick Chirichella |
April 18, 2012
Yesterday was clearly a so called risk-on day as market participants interpreted Spain's better than expected auction results that all is ok in Europe. The markets remain so interlinked that something as simple was enough to drive just about every risk asset market higher.
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By Dominick Chirichella |
April 11, 2012
The view that the global economy is slowing and the European sovereign debt issues may be a problem once gain were the primary price drivers for all risk asset classes including the oil complex.
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By Dominick Chirichella |
April 4, 2012
The oil market was hit with a one-two punch that has sent prices toward the lower end of the trading range. First the latest minutes from the last US Fed FOMC meeting suggested that the Fed may be backing away from QE3.
