Category: energy

We shift our focus to the November contract as the October retires tomorrow. The dollar play is again influencing oil prices as the euro wanes to the benefit of the dollar. Wrangling in Europe has brought their debt crisis to the fore, once again.… Read more

Narrowing ranges and lower highs over the past few sessions show that the inconclusive price action may be coming to a an end. Which way will it break? The price fulcrum is the measure of the opposing forces of supply that is tightening versus demand…

Petroleum Market

Even though EIA reported that crude oil stocks took the biggest weekly fall of 2011, taking inventories to their lowest level since February, market participants shifted focus to rising product stocks. The unexpected rise in gasoline…

Crude oil recovered from losses made in the Asian session, helped by gains in European stocks. Still, short term gains must be viewed skeptically given that underlying economic fundamentals continue to deteriorate. The ECB said that it will lend $575M…

Unfortunately, President Obama’s address to a joint session of Congress last night did not live up to the anticipation and market participants are registering their disappointment by pushing prices lower.

Crude oil keeps inching higher. Finishing near the day’s high shows some conviction, as well. We find it hard to contemplate how a market with such negative fundamentals can find such strength. Supply is not disrupted or even threatened.

The market rejected key resistance in the 4.14 area and quickly ducked under 4.00 again, strongly hinting at its inherent weakness. But the break of 4.048 minor resistance on the way up indicates that a short term bottom may have formed at 3.78.… Read more