Category: The Energy OverView

As the week ended, it looked like the rising level of geopolitical tension was ready to propel crude oil prices back towards $100. The ongoing political unrest in Syria, and Israel’s accusation against Lebanon increased the possibility of retaliation and consequent supply disruption.… Read more

Front month WTI extended the upward push to seven sessions yesterday, and broke through an important technical marker before retreating. The complex surged to the upside largely on geopolitical issues related to a renewed clash of rhetoric between Israel and Iran and civil unrest in Syria.… Read more

September crude oil prices extended their recent winning streak to six days and registered a new high for the move. Yesterday’s focus fell not only on a supportive EIA report, but also mounting violence in Syria, rising tensions with Iran, and Chairman Bernanke’s skepticism about the economy falling back into recession.… Read more

Whether one agrees with Chairman Bernanke’s economic philosophy or not, all will admit he is not a stupid man. Only the financial press hinted that there might be some market-moving policy revealed in his testimony yesterday. He revealed exactly nothing, other than that they remain on guard and will use all the tools available to fulfill their mandate.… Read more

September crude oil showed positive reversal action on the session, mounting a comeback from early morning lows to register its highest close since May 29th. While a weaker than expected report on US retail sales did weigh momentarily, the market stabilized and eventually turned higher.… Read more

WTI is melting away from Friday’s highs. Sentiment lacks conviction so is pushing the flow towards safe
havens. Chinese Premier Wen Jiabao said ‘China’s economy has not yet entered a recovery and economic difficulties may continue for some time’ underlining the
possibility of weak energy demand.… Read more

Prices fell sharply following the EIA report, but held support at 2.659, posting only a 2.72 low for the session. 3.079 resistance went unchallenged for another day, with the market topping out at 2.92; so bias stays neutral until either is settlement breached.… Read more

The mind set of market participants has swung over to slowing global economic growth and off monetary policy, for the moment anyway. They have recognized the desperation and waning influence the institutions have in trying to stay ahead of the slowing of the global economy.… Read more

WTI prices have been on a steady upward path since the Asian opening last night. Market participants appear to be voting in the affirmative that the FOMC minutes from the June meeting will contain hints that more stimulative action is on the way.… Read more

WTI has regained some of the footing it lost after the disappointing jobs number on Friday, but potential bulls are on shaky ground. Monetary easing by central banks in China, the euro zone and Britain on Thursday smacked of desperation had underscored concerns about a fragile global economy that has muddied the demand outlook for commodities which tumbled on Friday by their most this year…