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By Dominick Chirichella |
June 19, 2013
Oil prices have continued to move higher in anticipation of a friendly outcome to today’s U.S. FOMC meeting. The market has been trading this week on a view that the Fed will remain status quo on its QE.
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By Dominick Chirichella |
June 12, 2013
Oil prices are steady as we await confirmation from the EIA of a massive build in supplies. The IEA also just released their monthly oil market assessment and also lowered global oil consumption slightly for 2013.
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By Dominick Chirichella |
June 5, 2013
Oil prices are starting the day higher after a mostly bullish API oil inventory report released late yesterday afternoon. The main surprise was a 7.8 million barrels draw in crude oil stocks.
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By Dominick Chirichella |
May 22, 2013
So the battle between a weakening oil demand picture versus the support coming from the very accommodative monetary policies in the developed world economies continues with the winning side flip flopping back and forth.
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By Dominick Chirichella |
May 15, 2013
The growing market concern over the weakening oil fundamental picture is continuing to pressure oil prices with the complex declining for the fourth trading session in a row.
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By Dominick Chirichella |
May 8, 2013
Oil fundamentals remain biased to the bearish side as supply is projected to continue to outstrip global demand in the second quarter resulting in global inventories moving into a building pattern.
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By Dominick Chirichella |
May 1, 2013
After attempting to breakout through the upper range resistance level, all of the commodities in the oil complex failed and have been in retreat mode since early yesterday and into this morning so far.
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By Dominick Chirichella |
April 24, 2013
Firming equity markets in the U.S. were enough to bolster oil prices after their negative start on Tuesday reversing the selling from the decline in China’s PMI data.
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By Dominick Chirichella |
April 17, 2013
Is the worst of the risk asset selling over or was Tuesday’s trading activity just a bit of short covering rally in a broader downtrend that is just getting underway? The market sentiment tends to quickly react to changes in the status of the global economy.
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By Dominick Chirichella |
April 10, 2013
After a few days of short covering the oil complex is starting today’s session on the defensive after a bearish API fundamental snapshot along with a weak demand projection by the EIA in their monthly Short Term Energy Outlook report.
