Month: November 2013

WTI oil prices are lower this morning, after rallying modestly on Friday. The focus was front-and-center on the Iranian nuclear talks, which looked good on Friday, bad on Saturday, and better this morning. There is all kinds of conflicting reportage around the proceedings.… Read more

Oil prices continue their week-long fall, and overnight WTI prices fell below $94 and Brent fell below $103. The breaches come despite a fairly supportive weekly inventory report for WTI and smaller-than-expected North Sea loadings for November. Today, the intense focus will be on the Iran nuclear talks, which are seeing terrific progress, according to reports.… Read more

Brent crude oil rebounded, yesterday, and is holding the $106 level, while WTI continues to be weak, remaining below $105, nearing $104. The situation in Libya is the primary catalyst for the relative Brent crude strength. Even though exports are on the rise, production is said to be at 250k bpd, not 350k, as was reported late last week.… Read more

This is what a bear market looks like – bullish news gets ignored and bearish news gets embraced. China’s services PMI for October expanded to the highest level in 18 months and two refinery snags are reported on the wires, and the energy complex is lower, regardless.… Read more

Reported growth in China’s manufacturing sector, the most in __ months, lifted oil prices for a time overnight, but the gains have not held, early on. Both Brent and WTI crude fell, yesterday, as the profit-taking on the recent widening of the spread occurred.… Read more