Month: May 2013

Oil prices are somewhat lower this morning, as Chinese economic data and OPEC oil output are combining to weigh on prices. Chinese home sales were down big in April, but the disappointment with regard to its industrial production should only be slight.… Read more

Oil prices have pulled back from the recent rally, due to a resurgent US dollar. Brent and WTI prices are being pressured lower, along with gold, as the dollar rallies. The pullback this morning comes despite a bullish outlook by OPEC for the second-half of 2013.… Read more

WTI Crude oil prices rose modestly, but Brent crude was up over $1.00, above $105, on the latest Middle East tensions and news that maintenance of a key part of the North pipeline system may shut down the entire system, albeit briefly.… Read more

Crude oil prices rallied, again, on Friday, catching the wave of exuberance from the jobs data. The clarity of the BP pipeline outage in the Gulf of Mexico also got the bulls going. Prices jumped again last night, at the start of trading, on the geopolitical influences of the weekend’s news.… Read more

Crude oil prices snapped back, yesterday, on infrastructure issues within the industry. Various elements affect energy prices, and sometimes they are high-level economic impacts, currency influences, and geopolitics. Lately and for the first time in a long while, infrastructure issues or real fundamentals have been the predominant focus.… Read more

There were outsized losses in the oil complex, yesterday. The economic data from China weighed, as did the disappointing jobs report from ADP. There was even concern that the ECB would not lower rates, but that concern has been obviated by this morning’s announcement of a rate cut from .75 to .50.… Read more

Oil prices are on the decline this morning, as the economic data out there continues to be very negative for crude oil’s demand prospects. The swing demand center, China, disappointed with a decline in its manufacturing PMI overnight. The ADP employment report also disappointed this morning, adding to the concerns over the US economy, which has seen a series of disappointing economic data measures just this week, including the Dallas Fed Index and the Chicago PMI.… Read more