Author: johnkilduff

It was another rough day in the energy complex. Oil prices gave back most of the temporary gains from Friday, as the story of relative over supply grows, literally and figuratively. The gains by Kurdish, Iraqi, and US forces against IS forces in Iraq also helped reduce the security premium.… Read more

Oil prices took a vicious turn back higher on Friday as headlines out of Ukraine seemed to stoke a flight to quality that spilled over into oil. Oil prices had posted some hefty losses, so the snapback had the look of a bull trap.… Read more

Oil prices plunged, yesterday, with the weakening demand outlook and rising production too much for market participants to handle. WTI prices fell to nearly $95 per barrel and Brent touched $102. (Editor’s note: we had a typo yesterday, which should have shown WTI hovering around $97 per barrel, not $94.)… Read more

One could get the idea that oil prices are plunging, but WTI prices have been basically treading water around $94. Brent prices have slid a bit more, trading below $104 at times. Of course, both commodities have fallen almost 10% from their highs in June.… Read more

Oil prices remain under pressure from a well-supplied market. That was the conclusion of the IEA, yesterday, that we referenced, which cited rising North America output, an Atlantic basin glut, and steady output from several troubled countries, including Iraq and Libya.… Read more

Oil prices were lower overnight, on the continued relative calm in the regional trouble spots and a fairly bearish report from the IEA. The lack of genuine threat to oil output in Iraq and Libya continues to work against prices. Brent crude oil is below $105, and WTI is eyeing support at $97 again.… Read more

Brent and WTI crude oil prices are slightly higher this morning, as they tread water due to competing forces represented by geopolitical tensions and slack demand. Prices have processed the fighting in Iraq and Libya quite well. In Iraq, while the horrific accounts of atrocities by ISIS forces abound, the oil keeps flowing, especially out of the south.… Read more

il prices are adding to yesterday’s gains, but have backed off the highs seen overnight. The gains have been fueled, once again, by geopolitical tensions in Ukraine and Iraq. Last night, President Obama stepped into the Iraq breah by announcing humanitarian aid to routed Iraq minorities who holed up on a mountainside and being starved out by IS forces…

Oil prices are higher this morning, after re-testing recent lows, yesterday. The selling that gripped the equity markets, in the aftermath of comments by Poland’s foreign minister on an impending Russia invasion of Ukraine, found its way to the petroleum complex.… Read more

Oil prices continue to rebound, after the recent, stark sell-off. WTI prices will get more support from the weekly inventory data, which will show another drawdown. The effect the CVR refinery outage will not been seen until next week’s report. Both Brent and WTI crude have gotten support from the renewed battle in Iraq.… Read more