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By Phil Flynn |
June 11, 2013
The EIA shocked in a good way when they reported a major increase in global oil supply! According to that number and assuming the world consumes 19 million barrels of oil per day, we then have 497 years of oil left.
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By Phil Flynn |
June 5, 2013
Goldman Sachs says that the Fed will say goodbye to easing and start to tapper bond buys in September. The so called taper is sending stocks lower but oil is hanging tough.
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By Phil Flynn |
May 14, 2013
Following several years of stronger-than-expected North American supply growth, the shockwaves of rising U.S. shale gas and light tight oil and Canadian oil sands production are reaching virtually all recesses of the global oil market.
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By Phil Flynn |
April 24, 2013
So for oil, remember you can't fight the Fed or even the ECB and you can't outlast the guys who can print the cash. But really from a technical standpoint, the oil market was probably ready to bottom anyway.
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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.
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By Phil Flynn |
February 28, 2013
If almost on cue and just as I said one day earlier, gas confirmed a major top and we got a wild drop against a back drop of some historic numbers on U.S. oil production!
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By Phil Flynn |
February 12, 2013
The G-7 and Eurozone finance minters supposedly were on target for a cease fire in the so called currency war, but the rhetoric yesterday seemed to shake up the falling crude market as an ECB bank official took aim and fired.
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By Phil Flynn |
January 25, 2013
This week the main reason why crude oil moved up and down was the saga surrounding the Seaway pipeline. The reversal of this pipeline was perhaps the most important reversal of liquid since they changed the direction of the Chicago River.
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By Phil Flynn |
January 17, 2013
Oil supply surprisingly fell yesterday as a drop in Saudi Production and a shutdown of the Seaway Pipeline for expansion took a toll on U.S. imports.
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By Wael Mahdi and Grant Smith, Bloomberg |
January 10, 2013
Saudi Arabia, the world’s largest crude exporter, reduced production to the lowest in 19 months as booming U.S. output and recovering shipments from Iraq threaten to oversupply the global oil market.
