Author: johnkilduff

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

WTI crude oil posted a strong gain, yesterday, but the focus was on the narrowing spread between WTI and Brent crude. The spread has declined below the $10 mark in rapid fashion. All of the rail car shipments and the latest pipeline developments have caused the shift.… Read more

After losses on Friday, due, in part, to the disappointing reading on Q1 GDP, prices are marginally higher. The rebound in crude oil appears linked to the generally positive market sentiment ahead of the ECB meeting on Thursday that will likely result in easing measures, including an interest rate cut.… Read more

The rebound in crude oil prices is continuing. The UK’s avoidance of a triple-dip recession has the pound rallying at the expense of the dollar, which is supporting commodity prices. Also, to the extent that there is hope for the global economy, oil prices will catch a bid.… Read more

Crude oil prices are rallying back, with WTI making back to nearly $90 per barrel. The optimism over an expected interest rate cut by the ECB next week is forging hopes of a euro zone economic recovery that will translate into improved energy demand later this year.… Read more

Dollar strength and euro zone economic weakness are pulling oil prices lower this morning. The Dollar Index is back above 83, as the euro zone economy continues to struggle show its 15th month of contraction in both the services sector and in factory output.… Read more

Brent crude prices are back above $100 per barrel. The significant losses incurred over global growth concerns, recently, have yielded to a re-evaluation. The immovable force, this morning, seems to be the coming the flood of yen coming to market from the boldest-of-bold monetary easing regime, which was acquiesced to by the G20.… Read more

Crude oil prices are rebounding this morning. The effect of the weakening yen seems to supporting the rally in oil and gold. The Japanese finance minister indicated that the G20 was “unopposed” to its recent monetary policies. The latest run at creating some inflation is generating some buying.… Read more

Crude oil prices sold-off hard, yesterday, leading the loser board. WTI looked to possibly break all kinds of support, on the way to $82 per barrel. The selling has eased, and prices are back above $86. Brent crude is well-below $100 per barrel, and this is occurring just as we learn that Saudi Arabia’s exports surged in February by 363k bpd.… Read more