ALERT: PRODUCER INFLATION EMERGES Contract Month Last Change BIAS Comment Crude Oil November 86.25 0.09 Neutral Counter-trend rally underway. Gasoline November 2.7226 -.0129 Neutral Hedgers may view this as a value area. Heating Oil November 2.9989 -.048 Neutral Hedgers may view this as a value area.… Read more
Energy OverView October 17, 2011
The rough equilibrium the market seemed to have staked out last week was broken in the final hours of New York trading on Friday as the market posted new highs in the after-market.
Energy OverView October 14, 2011
Yesterday saw the pull of continuing uncertainty over Europe’s maladies and improving US economic data. A pall was cast over the markets by news, early on, that German banks may have to withstand substantially larger losses on their Greek bond…
Energy OverView October 13, 2011
In what appears more and more like a counter trend rally, crude oil shrugged off the surprise 3.8 MM bbl build reported by API last night. In the final analysis, the market’s judgment has to be about demand, and there is precious little that is going to help that right now.… Read more
Energy OverView October 12, 2011
Crude oil certainly displayed some schizophrenic price action yesterday. After running up to post a new high off the recent low, prices gave back over $1.50 and finished the session below the day’s settlement price, in fact below the previous day’s settlement price, as well.… Read more
Energy OverView October 11, 2011
Crude oil is on the decline again today, as confidence wanes that a solution to the Europe’s financial debacle will be sufficient to revive their faltering economies.
Energy OverView October 10, 2011
Last Monday it was all doom and gloom as participants assumed Europe was headed to Armageddon. All it took apparently, was for “Mer-kozy” to acknowledge that their banks needed to be recapitalized for market participants to assume…
Energy OverView October 7, 2011
Crude oil rose further yesterday as market bulls took solace from a falling dollar which lost ground to the euro as it appeared that policymakers were moving closer to aid to the region’s troubled banks.
Energy OverView October 6, 2011
Yesterday’s surprise draw down of crude oil stocks certainly diverted focus from ongoing macroeconomic maladies. EIA reported a particularly large draw, in place of the build that was expected.
Energy OverView October 5, 2011
The dramatic reversal after the open-outcry session ended, certainly got participants attention. Unlike Friday and Monday when the market kept posting new lows right up to 5:00 o’clock, yesterday it was putting up fresh highs.