Category: The Energy OverView

Crude oil prices snapped back higher, yesterday, and more gains have been achieved overnight. There was a good amount of selling on news that the Libyan situation had been or would be resolved in short order. That is proving to be fanciful thinking.… Read more

Crude oil prices are lower, again, this morning, after falling, yesterday. Brent crude has gotten hit harder by news that Libyan rebels and the government there may finally be close to a deal. The euro zone economy is also a factor.… Read more

Crude oil prices are slightly lower, due mostly to a further decline in a measure of China’s manufacturing sector. The HSBC manufacturing PMI for March fell to an 18-month low of 48. As we like to say, China is the swing-demand center these days, and their data count for a lot.… Read more

Crude oil prices are slightly lower, due mostly to a further decline in a measure of China’s manufacturing sector. The HSBC manufacturing PMI for March fell to an 18-month low of 48. As we like to say, China is the swing-demand center these days, and their data count for a lot.… Read more

espite a large reported increase in overall oil inventories, oil prices were higher, yesterday. Those gains are being maintained this morning, as geopolitical tensions and supply issues that never seem to fully recede support prices. The Houston Ship Channel oil spill may have more of an impact on inventories in the very short-term, but it still represents a bullish element.… Read more

WTI oil prices continue to flirt with the $100 level. The Houston Ship Channel saga both boosted prices and dragged them down, as the situation waxed and waned, yesterday. At one point, the Coast Guard sounded a lot more like the EPA than the maritime police in suggesting its overarching concern about the state of the oil spill, at the expense of shipping interests.… Read more

WTI oil prices held onto small gains, yesterday, and they are flirting with the $100 barrel level this morning. The Houston ship channel incident has impacted ExxonMobil’s Baytown refinery. A Reuters’s story quoted one refinery employee based at the Houston Ship Channel as saying they were “toast” due to the shipping disruption.… Read more

Crude oil prices are higher this morning, despite tepid PMI manufacturing data out of China and Europe. The Houston Ship Channel remains closed, after a barge collision caused a fuel spill of some magnitude. The closure could persist all week, so it may prove supportive for prices, as crude oil deliveries will be hampered.… Read more

We were away for a couple days, and oil prices rose and fell on the various headlines. The expiring front-month April managed to climb above the $100 mark, on some of the geopolitical angst around Crimea and yesterday’s inventory report. The inventory levels at the Cushing, OK delivery point fell again to their lowest since January 2012.… Read more

Oil prices are fairly stable given all the angst swirling around over the Ukraine situation. It is a difficult analysis as to whether the Ukraine situation is bullish or bearish for oil. Russia’s oil production and supply to Europe hangs in the balance and its loss to the market is certainly supportive.… Read more