-
By Dominick Chirichella |
March 27, 2013
After three strong up days the spot WTI contract is on the defensive this morning ahead of today’s EIA oil inventory report. WTI is now in a new higher technical trading range with $94.50 the support area and $97 the current resistance level.
-
By Dominick Chirichella |
March 6, 2013
The relatively balanced global fundamental situation has been keeping oil prices under control as the market has been in a short term downward trading channel since breaking through key technical support levels in the middle of February.
-
By Phil Flynn |
March 1, 2013
We seem to be entering the month of March more like a lamb than a lion, but that could be more because of the fact that U.S spending cuts may improve our balance sheet and help deflate asset bubbles like we have seen in metals, stocks and even oil.
-
By Dominick Chirichella |
February 27, 2013
All of the normal macroeconomic data is playing a secondary role as the oil markets move in sync on each new 30 second news snippets regarding Italy, Bernanke, and the sequester.
-
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.
-
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.
-
By Philip Burgert |
February 1, 2013
Although the supply outlook is increasingly positive, global demand questions remain for oil, natural gas and other energy products.
-
By Dominick Chirichella |
January 30, 2013
The main economic event of the day will be the outcome of the U.S. Fed FOMC meeting with the focus mostly on the statement as most in the market expects a rollover of existing accommodative policies.
-
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.
-
By Dominick Chirichella |
December 19, 2012
With geopolitics less of an issue or price driver than it was the last month or so the main oil price drivers are likely to be any and all macroeconomic data on the global economy with oil fundamentals equally important.
