Crude Oil Futurescast Articles

Bloomberg - Oil Falls Near Five-Month Low on Greece, Saudi Price Call By: Phillip StreibleMay 14th, 2012 9:47AM CDT There is a total loss of confidence and the European situation is really weighing on the market,” said Phil Streible, a Chicago-based commodities broker at RJO Futures. “Saudi is definitely ramping up production and that could push down prices.” To read the full article with Phil's comments, please go to Bloomberg.com

Taming the beast - Crude Oil Futures By: Mike SaboMay 11th, 2012 12:09PM CDT The relatively quiet behavior of crude in April ($5 range for almost the entire month) has not bled over into May, and that shouldn’t be a surprise to anyone. The crude oil market can be a beast and it’s starting to flare up again with a $10 drop ($10,000 per contract) from the short-term high set on May 1st, mainly due to weakening ec.... Read More

Bad News for Europe Good News for Gas Prices By: Daniel PavilonisMay 8th, 2012 2:41PM CDT As the European landscape changes so will commodities; 12 of the 17 European countries have had elections over the last 2 years and most have voted out previous political parties. Most of those parties had solid ties to the current Euro fiscal pact. France just voted in their first socialist president in 26 years. Following the election he stated h.... Read More

Bloomberg - Oil Climbs as U.S. Manufacturing Unexpectedly Increases By: Phillip StreibleMay 1st, 2012 10:18AM CDT “We had really good ISM manufacturing data,” said Phil Streible, a Chicago-based commodities broker at RJO Futures. “It exceeded expectation and signaled growth in the U.S. That’s going to help oil demand.” To read the full article with Phil's comments, please go to Bloomberg.com

HIGH TENSION IN THE GULF BULLISH FOR OIL By: Matthew SchillingMay 1st, 2012 9:32AM CDT The consensus for traders is that there is at least $20 dollars of premium in the current price for oil because of the instability in the Middle East. That number will quickly increase if any military action is taken which is looking like a real possibility. With already 2 U.S. aircraft carrier groups in the Gulf now we hear over the weekend of the.... Read More

Video - Fox Business - Iran's Crude Awakening By: Phillip StreibleApril 30th, 2012 9:26AM CDT Phillip Streible of RJO Futures discusses the recent report showing that Iran may halt its nuclear program to relieve stress from oil sanctions. Watch the latest video at video.foxbusiness.com

(CL) Good News: Crude Failure Reinforces Broader Bear; Bad News: Stock Losses Likely to Follow By: RJO MRTApril 20th, 2012 8:26AM CDT Technicals, April 19, 2012; 1:50pm Since late-Mar's resumption of late-Feb/early-Mar's initial counter-trend break in crude oil, we've been of the opinion that a major peak/reversal threat is unfolding. With today's failure below Mon's 101.80 low detailed in the 240-min chart below, the market has defined Tue's 105.07 hig.... Read More

Bloomberg- Oil Falls on U.S. Inventory Forecasts, European Outlook By: Phillip StreibleApril 18th, 2012 10:04AM CDT “The market is expecting another build,” said Phil Streible, a Chicago-based commodities broker at RJO Futures. “We’ve seen inventories move higher in the last few weeks.” To read the full article with Phil's comments, please go to Bloomberg.com

Black Gold Going Down? By: Nick DeGeorgeApril 13th, 2012 9:49AM CDT After this weeks bounce from its April 10th low of $100.68 a barrel on the May crude oil contract, WTI seems to be cooling off. China’s GDP expanded at a disappointing 8.1 percent which means their economy grew at the slowest pace in just under three years. Also, I believe that the recent announcement from Saudi Arabia’s oil minister in.... Read More

Crude Oil Futures - No News is Good News By: Daniel PavilonisApril 11th, 2012 9:15AM CDT May crude has found some support above $100 and is in a downward congestion pattern. I feel once the market breaks below $100 we will see extended selling pressure, consuming sell stops and creating a confirmed downward trend. I expect the market to get back to October 2011 levels roughly at $75 before the second week of May. The fundamentals hav.... Read More

The Real Price of Fuel By: Tom FeeneyMarch 26th, 2012 4:10PM CDT Asian countries are starting to follow market pricing strategies for fuel prices and grudgingly trying to wean their citizens off subsidized products. China is raising the price of gasoline close to 7% to roughly $4.42 per gallon. Indonesia is going to try to raise the price of gasoline by 33% on April 1st their price will be about $2.46 per gall.... Read More

Bloomberg - Oil Rises on German Output, Greek Debt Outlook By: Phillip StreibleMarch 9th, 2012 8:39AM CST “Oil turned up with the S&P,” said Phillip Streible, a Chicago-based commodities broker at RJO Futures. “It seems like Greece is starting to make some kind of progress, and with that there is some optimism in the market. Improved economic data globally is helping support oil prices. Iran is definitely a concern and it creates .... Read More

Bloomberg - Oil Rises for Second Day on German Industrial Output, Falling Iran Exports By: Phillip StreibleMarch 8th, 2012 10:56AM CST “Oil turned up with the S&P,” said Phillip Streible, a Chicago-based commodities broker at RJO Futures. “It seems like Greece is starting to make some kind of progress, and with that there is some optimism in the market. Improved economic data globally is helping support oil prices. Iran is definitely a concern and it creates .... Read More

(CL) Volatility, Historic Bullish Sentiment Contribute to Crude Oil Vulnerability; Stand Aside By: RJO MRTMarch 5th, 2012 9:30AM CST (CL) Volatility, Historic Bullish Sentiment Contribute to Crude Oil Vulnerability; Stand Aside Technicals, March 5, 2012; 8:05am In Fri morning's Technical Webcast we discussed the increased volatility entering the market and its possible contribution to a broader peak/reversal process. Less than two hours later, the market failed below.... Read More

Video - CNBC - Crude Markets Focus on Iran By: Phillip StreibleMarch 2nd, 2012 8:59AM CST From the floor of the CME, Phillip Streible talks about crude oil with CNBC.

SFGate - Oil Advances Above $110 on Explosion Report Denied by Saudis By: Phillip StreibleMarch 2nd, 2012 7:47AM CST "It looks like it's a rumor but it shows you how sensitive the oil market is to any kind of supply constraint," said Phil Streible, a Chicago-based commodities broker at RJO Futures. To read the full article with Phillip's quote, please go to SFGate.com.

(CL) Navigating Crude, Heating Oil a Matter of Scale By: RJO MRTFebruary 29th, 2012 8:39AM CST Technicals, February 29, 2012; 7:30am Only a glance at the 240-min chart of Apr crude below is needed to see that this market has failed on a short-term basis. The very short-term trend is now down and it's going to take a recovery above yesterday's 108.79 high to break this short-term slide, render it a 3-wave and thus corrective stru.... Read More

(CL) Crude Oil Extends Gains, Defines New $105.45 Risk By: RJO MRTFebruary 24th, 2012 7:58AM CST Technicals, February 24, 2012; 7:30am Feb's dramatic crude oil rally extended its gains again yesterday, bringing the month's rise to nearly 14% thus far. As a direct result of this latest spate of strength, the 240-min chart below shows that the market has defined yesterday's 105.45 low as the latest and smallest-degree corrective l.... Read More

Video - First Business - Trader Talk 02/02/12 By: Kevin CraneyFebruary 9th, 2012 9:31AM CST Kevin Craney of RJO Futures joins us for a look at what's behind the boom in energy trading.

Speculative Play on Crude Oil and Iran By: Ryan NolanFebruary 6th, 2012 12:15PM CST There is increasing pressure for the world to act before Iran significantly increases their nuclear capabilities in 2012. We may see a showdown between Iran and the UN. In the event the situation starts to boil over, we are recommending a low risk purchase in crude oil options on futures. Technically the weekly charts remain bullish and fundamental.... Read More

(CL) Frothy Sentiment, Possible "Double-Top" Reversal Sour Crude Oil Technicals By: RJO MRTFebruary 2nd, 2012 7:33AM CST Technicals, February 2, 2012; 6:45am Yesterday afternoon and overnight's clear break below 23-Jan's 97.40 low detailed in the 240-min chart below confirms at least the intermediate-term trend as down and defines yesterday's 99.49 high as the latest corrective high and risk parameter we believe this market's now got to recoup to mit.... Read More

Bloomberg - Crude May Advance on Signs of Economic Recovery, Survey Shows By: Phillip StreibleJanuary 23rd, 2012 8:32AM CST “Some of the economic data has been pretty upbeat and we are seeing more confidence in the U.S. economy,” said Phillip Streible, a Chicago-based commodities broker at RJO Futures. “We’ve also seen some kind of progress being made in Europe” To read the full article, please go to Bloomberg.com.

Medill Reports - Crude oil price holds steady on report of lower inventory By: Jeffrey FriedmanJanuary 20th, 2012 8:40AM CST “The bullishness in crude right now is Iran,” agreed Jeffrey Friedman, senior commodities broker at RJO Futures in Chicago. “If they start talking a war game in the Middle East, we'll shoot right up.” Read the full article to this quote at Medill Reports.

Video - CNBC - View from the Oil Pits By: Phillip StreibleDecember 22nd, 2011 8:49AM CST Phillip Streible, RJO Futures, sheds insight on the broader energy market.

(CL) Crude, Heating Oil Perpetuate Bull Runs, Define New Risk Levels By: RJO MRTNovember 8th, 2011 7:46AM CST Technicals, November 8, 2011; 7:05am The 240-min chart below shows how the Dec11 crude oil market has worked its way through the past couple weeks' resistance from the 94.65-to-94.93-range that is now expected to hold as new support if this market is still truly strong "up here". The trend is up on virtually all pertinent scales with .... Read More

December Crude Oil Pushes On By: Dan GuzmanOctober 25th, 2011 9:53AM CDT December crude oil has hit 12–week highs. US supply is down in Cushing, OK to 760,000 barrels or 2.6 % while China’s demand has grown on expanding their manufacturing. We could see a further push up past today’s high of 9465, but look for a sell signal around 9550–9575 area. December Crude Oil Daily Chart

(CL) Now-Prompt Dec11 Crude Oil Gains Define $85.75 Risk, Expose Pivotal $90.52 Cap By: RJO MRTOctober 19th, 2011 7:55AM CDT Technicals, October 19, 2011; 7:10am Yesterday's round of new highs above Mon's 88.40 high in the now-prompt Dec11 futures contract reaffirms this month's developing recovery and, most importantly, leaves yesterday's 85.75 low in its wake as the latest corrective low and tightest risk parameter this market is now minimally required.... Read More

Bears vs Bulls in Crude Oil Futures By: Peter MoosesOctober 17th, 2011 3:13PM CDT Since contract highs were set in May we have seen crude oil futures turn bearish. A steep drop on May 5th had this market consolidate while trading in a $10.00 range for over a month. Looking at the Nov. ’11 chart, if we can break $87.00 and take out the down trend (see chart), we should see the bulls come in. A climb through this trend line .... Read More

(CL) Both L-T Directional Arguments Open With Crude Oil Still Engaging Pivotal $90-Area By: RJO MRTSeptember 14th, 2011 9:09AM CDT Technicals, September 14, 2011; 8:00am While yesterday's intra-day high of 90.52 only eked out gains above last week's 90.48 high, yesterday's 90.21 close shown in the daily log close-only chart of the most-active futures contract below clearly reaffirms the past month's developing recovery. What remains the key issue technically .... Read More

(CL) Crude Breaks $90 (barely); Time For Bull to Fish or Cut Bait By: RJO MRTSeptember 8th, 2011 8:45AM CDT Technicals, September 8, 2011; 8:15am The Oct crude oil market's break yesterday above 01-Sep's 89.90 high reinstates at least the intermediate-term uptrend. On the heels of May-Aug's 114.83 - 75.71 decline that, to this point, is only a 3-wave and thus potentially a corrective affair as labeled in the daily log chart below, yesterday.... Read More

LAST TRADING DAY / OPTION EXPIRATION 8/17/11 By: RJO Futures Market AlertAugust 17th, 2011 12:09PM CDT TODAY, August 17th, is Last Trading Day for these SEPTEMBER OPTIONS: NY Crude Oil; NY Platinum; NY Palladium. All of these options will cease trading at the close of today's sessions. Please allow time to contact your customers and to place liquidating orders; and remember to cancel open GTC orders when your positions are covered..... Read More

Energy Pops Likely Corrective By: RJO MRTAugust 11th, 2011 9:19AM CDT While the past few days' recoveries in the crude oil, RBOB and heating oil markets confirmed bullish divergence in short-term momentum, against the past few weeks' steep and obvious weakness these recoveries are of a scale grossly insufficient to first be approached as anything other than bear-market corrective. Please review today's Te.... Read More

Bottom Feeding the Crude Oil Futures Market By: William MooreAugust 8th, 2011 9:17AM CDT After the market crash last week, the bears have a hold on many of the commodities being traded. 18-month highs in gold, treasury bond and treasury note markets are present while we have aggressive selling in the S&P 500 and other indices. Following technical and basic fundamentals will be key to finding new entry points. In the energy trade, w.... Read More

Jobless Claims, International Issues and the Trend in Crude Oil By: Peter MoosesJune 16th, 2011 10:46AM CDT Jobless claims were released today and we see that fewer Americans applied for unemployment benefits. Claims dropped by 16,000 to 414,000 last week. July crude oil has traded sideways over the past month and that pattern continued on the opening today as crude oil (GCLN) traded at $95.29 a barrel. Oil prices have been at the lowest levels since Feb.... Read More

Oil Producing Countries at Odds By: Alex TothJune 8th, 2011 9:42AM CDT Crude oil for July delivery was down as much as $1.07 early this morning on speculation OPEC will increase production quotas for the first time in four years. However, the market has since rebounded and is trading higher after OPEC failed to come to an agreement on the quotas. Weaker economic growth and the European debt issues are also adding su.... Read More

Racing to the Pump to Fill Up? - Not So Fast By: Peter MoosesMay 9th, 2011 11:54AM CDT Crude oil began to bounce back Monday morning after June contracts closed Friday at $97.18, its lowest mark in almost 2 months. Many investors see these lower prices as an opportunity to get back in the market. With ongoing issues in the Middle East the concerns involving oil supply have not disappeared. The lower prices in oil and a 1 cent decreas.... Read More

Crude Oil Bull Call Spread Strategy By: Tarik HusseiniMay 9th, 2011 10:47AM CDT After last weeks commodity route the question on many traders' minds is whether or not it is time to jump back in. Bloomberg notes that "the last time the S&P GSCI fell this much, the index rebounded 12 percent the following week, and by the end of last month, it had more than doubled." Goldman Sachs, whether you consider them luck.... Read More