Energy Overview — TotalView™ of the Energy Markets
March 20, 2017, edition of the Energy Overview
March 17, 2016 edition of the Energy OverView
March 18, 2016 edition of the Energy Overview
Iran’s oil production has tripled from January and its exports are ramping up. The freeze deal appears to have fallen apart, along with the recent rally.
Iran says “leave us alone” regarding oil output ceiling, until they get back to pre-sanctions production levels. Market says “sell” in response.
Oil futures set to finish week in strong fashion, as market bulls bet on OPEC/NOPEC production restraint and strong gasoline demand. Natural gas prices stake double-digit rally, not to be left out.
Market ignores large crude oil build and instead rallies on strong gasoline demand, spurred by low pump prices and high levels of employment in the U.S.
Weekly inventory report set to show another large increase in crude oil inventories, and production data will be closely scrutinized.
WTI oil prices broke out of the recent range on Friday, soaring above $36. Prices caught a lift off of the strong employment report and further comments from OPEC officialdom about a possible meeting later this month. Although, over the weekend, the Saudis reiterated their opposition to a production cut, and further gains in production were announced by Iran.… Read more