Sal Umek

• Oil remains coupled to dollar as focus still on Europe

  By Dominick A. Chirichella  |  December 14, 2011

  Oil remains mostly coupled to the direction of the USD and the euro and will remain in this pattern for the foreseeable future or until Europe moves into the background

• Oil inventories secondary, market hostage to Europe

  By Dominick A. Chirichella  |  December 7, 2011

  The market remains hostage to the evolving situation in Europe that has been unfolding once again this week as discussed above with inventory data a secondary driver

• Oil inventories stay in back seat, Europe and Iran driving

  By Dominick A. Chirichella  |  November 30, 2011

  The market remains hostage to the evolving situation in Europe that has been unfolding once again this week as discussed above with inventory data a secondary driver

• Macro issues driving oil, fundamentals take backseat

  By Dominick A. Chirichella  |  November 23, 2011

  Market participants continue to follow the tick by tick direction of equities and the US dollar because they are both the primary price drivers for oil once again

• Oil inventories take a back seat to geopolitical factors

  By Dominick A. Chirichella  |  November 16, 2011

  At the moment all market participants are continuing to follow the tick by tick direction of equities and the US dollar as they are both the primary price drivers for oil once again

• EIA revises oil consumption projections higher

  By Dominick A. Chirichella  |  November 9, 2011

  In its latest short-term outlook, the EIA is projecting for world oil consumption to grow in 2012, mostly from expansion in emerging economies

• Oil focused on Europe, inventory secondary

  By Dominick A. Chirichella  |  November 2, 2011

  Oil remains hostage to the outcome of the European soap opera that has been unfolding so far this week with inventory data a secondary driver

• Oil prices focused on outcome of EU summit

  By Dominick A. Chirichella  |  October 26, 2011

  For the moment anything not EU related will be playing a secondary role in risk asset price setting including today's EIA oil inventory report as well as any macroeconomic data

• Crude oil feels 3.1 million barrel supply draw

  By Dominick A. Chirichella  |  October 19, 2011

  The API reported a large draw in crude oil inventories of about 3.1 million barrels with a modest decrease in imports and no change in refinery run rates

• Global oil demand growth lowered for third month in a row

  By Dominick A. Chirichella  |  October 12, 2011

  The IEA released their latest Oil Market Report this morning and for the third month in a row they lowered their forecast for oil demand growth based on a slowing global economy