Category: The Energy OverView

Oil prices are back on the rebound on the back of renewed economic confidence in the euro zone over the Cyprus bailout deal. The dram came to an end last night, as usual at the last minute. The solid economic data out of the US is helping to support WTI at the expense of Brent crude.… Read more

Oil prices suffered losses, yesterday, as the Cyprus concerns dominated the viewpoint of the maket and the potential for the euro zone to unravel. There are some dramatic comments on the newswire this morning with a Cypriot government spokesman declaring that the “next few hours will determine the fate of the country.”… Read more

Oil prices are lower in overnight trading, taking back some of yesterday’s gains. The confirmation that Federal Reserve easing measures will remain in place for the foreseeable future caused prices to rally. The weekly inventory report was also helpful: it showed a decline in crude oil and gasoline inventories.… Read more

Oil prices took a hit, yesterday, along with everything else, it seemed. For whatever reason, the Cyprus vote created high-drama, and when the parliament failed to approve the plan to raid savings accounts, the markets reacted negatively. Oil, like everything else, it seems, is back on the rebound, today.… Read more

Oil prices fluctuated greatly, yesterday, first catching the risk-off fever generated by the Cyprus bank deposit tithe plan. Price recovered, as word came down that there was flexibility in the bailout plan. The featured trade was a further narrowing of the Brent-WTI spread.… Read more

The dollar is down this morning, and the inverse currency effect is pushing oil prices higher. The price gains have defied our view that a sell-off in the cards. The increase in crude oil inventories and the low refinery run rate are bearish factors for WTI.… Read more

Oil prices are down this morning, after closing basically unchanged, yesterday. The large build in inventories reported by the EIA, in contrast to the previous night’s API report, stemmed support from rising RBOB prices. Gasoline inventories fell more than expected according to the report.… Read more

Oil prices are moving higher this morning, partly on a mixed bag of fundamental news. OPEC reported an increase in its oil production, and North Sea production continues to rise. Offsetting that bearish news, China’s implied energy demand rose 4.9% in February to the fourth highest on record.… Read more

WTI Crude oil prices posted solid gains, yesterday, benefiting from two factors. The primary source of the lift came from a decided move lower in the value of the dollar. The restraint showed by the ECB and the UK central bank caused the euro, in particular, to reverse its recent losses.… Read more

WTI Crude oil prices have retaken the $91 level, due to renewed strength for euro and pound sterling currencies. Both the UK and European central bankers did nothing, in terms of cutting interest rates or adding more easing measures. The rise in the dollar, of late, was built upon expectations of such a move, and dollar-based commodities fell, as a result.… Read more