Category: Crude Oil
The analysis published under this category are as follows.
Friday, April 20, 2007
Crude Oil and the US Dollar Under the Microscope / Commodities / Crude Oil
By: Clif_Droke
Oil and gas stocks had a great run to the upside following the correction low in earlier March. The Amex Oil Index (XOI) rallied nearly 180 points from its March low of 1,100 to its most recent high of 1,280. The Amex Natural Gas Index (XNG) was likewise bullish from March through late April and rallied from its correction trough of 440 to its latest high of 500.
How much energy is left in the oil/gas stock sector after this extraordinary rally? To answer that question we turn to the internal momentum indicator series known as OILMO.
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Wednesday, April 18, 2007
The Energy Sector Breaks Out! / Commodities / Crude Oil
By: Donald_W_Dony
The recent upward move in the energy indexes signals higher prices can be expected in 2007 and oil will remain firm at current levels. It also shows inflation is still growing and global economies are continuing to expand.
After 10 months of consolidation below the key 1235 resistance level, the Amex Oil Index (Chart 1) has broken out above this important price ceiling. This indicates the main upward trend in the oil sector is now continuing. And as the Amex Oil Index often leads the commodity, it also implies oil prices will remain firm at current levels as the summer driving season draws near.
Technical evidence shows growing upward pressure should continue until the first half of June.
Monday, April 09, 2007
War with Iran? - The Crude Oil Crisis Leads to Gold and Silver / Commodities / Crude Oil
By: Julian_DW_Phillips
All is not well in the oil market. Not simply because of the demand supply pressures.
Oil supplies, to a large enough extent to exert overwhelming pressure on the oil price, reside in nations that are not only involved in conflict within themselves over their own branches of Islam, but in nations that are thoroughly disposed to loathe the West, particularly the U.S. of A.
Now add to that the wealth they themselves have in their pockets, which is sufficient to influence the flow of the U.S.$ market to its detriment, a market that is already under pressure from an over issuance of the currency to support the bleeding Trade deficit now at destructive proportions, and the potentially overwhelming surpluses in the hands of all the nations of the world.
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Friday, March 30, 2007
Analysis of crude oil types and Iranian shortage of refining capacity / Commodities / Crude Oil
By: Elliot_H_Gue
"Water, water every where, And all the boards did shrink; Water, water every where, Nor a drop to drink." --Samuel Taylor Coleridge, The Rime of the Ancient Mariner
Iran isn't an energy-independent country.
I'm well aware that Iran produces more than 4 million barrels of oil per day, the fourth-highest production in the world. And with the near-constant reporting about Iranian crude reserves during the past six months, I find it difficult to believe that anyone could be unaware that Iran has 132 billion barrels in proven reserves--or, at least, they claim to.
Monday, March 05, 2007
Energy Markets Survive Global Financial Markets Sell off / Commodities / Crude Oil
By: Elliot_H_Gue
The sudden, sharp drop in global equity markets Tuesday has been the subject of almost endless chatter in the financial media this week. But for the most part, this global selloff failed to touch the energy markets.
As of Thursday's close, crude oil and gasoline prices were actually higher for the week. And energy stocks, as measured by the Philadelphia Oil Services Index, were down only around 1.5 percent, a modest move for that index. Energy-related stocks and commodities were among the few green up-arrows in a sea of red on trading screens Tuesday.
Although four days is far too short a period to use as a basis for making grandiose projections, the contrast with the May/June selloff last year is instructive. Check out the chart below for a closer look.
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Tuesday, October 10, 2006
Crude Oil dips below $59, When will the uptrend resume ? / Commodities / Crude Oil
By: Nadeem_Walayat
Despite news that OPEC will cut production by 1 million barrels per day, crude fell below $59. The market also shrugged off news of the unrest in Nigeria which implies a significant shift in sentiment which in months gone past would have resulted in surge in prices. Which suggests the market is pricing in demand reduction and does not believe that OPEC will go ahead with the quota cuts.
Sunday, July 23, 2006
Mid-East 'Oil Shock' Rattles Global Stock Markets, Energizes Gold / Commodities / Crude Oil
By: Gary_Dorsch
Since withdrawing its troops from Southern Lebanon six years ago, Israel has carefully watched Iranian backed Hizbollah guerillas plant landmines and booby traps along their common border, and then stockpile about 12,000 katushya rockets, with ranges up to 100 km (60 miles), aimed at Israel's northern frontier. Until July 12 th , the prevailing view in Jerusalem was that Hizbollah would hold its fire, unless a wider war in the Middle East broke out over Iran's clandestine nuclear program.
However, the Middle East tinderbox was set on fire on July 12 th , when Hizbollah guerillas sneaked across the border and killed eight Israeli soldiers and kidnapped two others, which Israel's prime-minister Ehud Olmert called an “act of war”, and promised a "very painful and far-reaching" response. Hizbollah is the only Lebanese faction to retain its weapons after the 1975-90 civil-war, and is also a political party, with 14 members in the Beirut parliament and two cabinet ministers.
Tuesday, April 12, 2005
Crude Oil Bull Market Running out of steam ? / Commodities / Crude Oil
By: Nadeem_Walayat
After the Crude Oil bull market set a new high of 58, the market has corrected lower to 53. So where will crude go from here ?
Thursday, January 01, 1970
Market Minute: Oil Prices Start to Fall / Commodities / Crude Oil
By: Donald_W_Dony
The recent rise in oil prices (WTI) appears to have reached a crest in late April. The outlook now is for lower levels.
Light crude oil prices made an impressive rally in March and April largely due to production cuts from Russia and OPEC. Global demand was also expected to increase, according to the EIA.
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