Energies 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 |
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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 |
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(RB) $3.0258 New S-T RBOB Risk Parameter By: RJO MRTMay 11th, 2012 9:33AM CDT Technicals, May 11, 2012; 8:05am In 09-Apr's Technical Blog we discussed the developing factors that warned of a peak/reversal threat that could be major in scope. A key contributing factor was the insane bullish sentiment accorded this market as indicated by our proprietary MRT Bullish Sentiment Index of the hot Managed Money positions repo.... Read More |
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Natural Gas on the Rise By: Peter MoosesMay 9th, 2012 10:37AM CDT June natural gas futures have enjoyed a small rally the past few days. The higher prices are mainly due to talks of increased demand by utilities. The June contract opened yesterday at 2.323 and traded as high as 2.461 before settling down and closing at 2.393. The Energy Information Administration (EIA) data will be released tomorrow at 10:30 AM E.... Read More |
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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 |
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(NG) Impressive Nat Gas Recovery: Corrective or Reversal? By: RJO MRTMay 1st, 2012 12:50PM CDT Technicals, May 1, 2012; 10:20am The past 1-1/2-weeks' rebound in nat gas prices is as impressive as any this market has experienced since at least late-Jan and arguably since Mar-Jun'11. Given the magnitude of the secular bear trend however, it would be premature to conclude that this 38.2% retrace (thus far) of Jan-Apr's latest 3.0.... Read More |
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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 |
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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 |
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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 |
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(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 |
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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 |
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Reverse the flow By: Tom FeeneyApril 17th, 2012 10:37AM CDT With the news that the Seaway pipeline will be reversed from Cushing OK to the refiners of Louisiana two weeks earlier than expected, coupled with the easing of tensions with Iran, ICE Brent crude traded significantly lower. These factors sent RBOB tumbling yesterday. There are a few other fundamental factors that may pressure RBOB. Using the num.... Read More |
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BNN- Natural gas bottom nowhere in sight By: Kevin CraneyApril 16th, 2012 9:59AM CDT "I don't see a bottom here in the near-term," Kevin Craney, senior commodities broker at RJO Futures, tells BNN. Craney, like many others, says the industry is facing a standard economic problem: too much supply and too little demand. "The big risk for the immediate term is, is there going to be a price shock -- where these cavern.... Read More |
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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 |
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(HO) Scale Still Key in Navigating Heating Oil Peak/Reversal Threat By: RJO MRTApril 13th, 2012 7:30AM CDT Technicals, April 13, 2012; 6:55am To this point the decline in heating oil prices from 24-Feb's 3.3130 high is only a 3-wave affair as labeled in the daily log close-only chart below. And the fact that this slide has thus far stalled at the exact 38.2% retrace of Dec-Feb's 2.7804 - 3.3130 rally may contribute to a bullish count that wou.... Read More |
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Natural Gas Oversold? By: Frank D. ChollyApril 12th, 2012 9:13AM CDT Today we are expecting a build of 25 BCF on the natural gas inventory report at 9:30 CST. Natural gas prices have been in a steady decline lately and are sitting at a huge psychological level right now, $2.00. The fundamentals are as bearish as it gets with struggling demand and record supply. This is priced in and we may find a bottom soon, esp.... Read More |
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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 |
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Natural Gas Reaching 10 Year Lows By: Bob HaberkornApril 10th, 2012 8:20AM CDT May natural gas traded down in the overnight session to the 206 level and according to the technicals using the relative strength index (RSI) it appears to be getting into oversold territory. With psychological support coming in at the 2.00 handle. I recommend buying natural gas below the 210 level and looking to add another long position if it tr.... Read More |
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(NG) Secular Nat Gas Bear Pace Expected to Slow, But Intact Below $2.50 By: RJO MRTApril 10th, 2012 8:01AM CDT Technicals, April 10, 2012; 7:30am Only a quick glance at the weekly log chart below is needed to see that the major downtrend remains as this market's dominant technical factor. Bullish sentiment accorded this market is understandably at historic extremes and the type of levels that generally warn of and accompany major base/reversal environ.... Read More |
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(RB) Peak/Reversal Factors Mount in RBOB By: RJO MRTApril 9th, 2012 9:07AM CDT Technicals, April 9, 2012; 6:50am While last Wed's confirmed bearish divergence in momentum below 3.3659 detailed in the 240-min chart below is of a short-term scale insufficient to conclude the end of the past 4-1/2-month advance, a number of factors are lining up to warn of a peak/reversal threat that could be major in scope, including: h.... Read More |
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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 |
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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 |
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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 |
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(RB) Gasoline Bull on Thin Ice; Waning Mo, Frothy Sentiment Warn of Peak By: RJO MRTMarch 6th, 2012 8:31AM CST Technicals, March 6, 2012; 8:05am In Fri's Technical Webcast we discussed the sharp jump in volatility as a warning sign that the major uptrend in gasoline prices is likely to at least take a rest, if not peak and reverse in a more significant way. With yesterday's failure below the short-term risk parameter at 3.2550 detailed in the 240-.... Read More |
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(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 |
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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. |
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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. |
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(RB) Beware Volatile Gas Prices in Period Ahead By: RJO MRTMarch 1st, 2012 10:28AM CST Technicals, March 1, 2012; 8:25am The past 2-1/2 months' bull trend in gas prices has been a one-way street with only one minor speed bump in mid-Jan. But as the market nears key all-time highs and prospective major resistance and has thus far stalled at an exact Fibonacci progression relationship with a bearish divergence in admittedly short.... Read More |
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(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 |
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(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 |
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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. |
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(RB) Gas Prices Looking Up Again After Corrective Dip By: RJO MRTFebruary 7th, 2012 8:29AM CST Technicals, February 7, 2012; 6:35am While the 240-min chart of the Mar RBOB contract below shows that the market remains below 01-Feb and 27-Jan intra-day highs of 2.9487 and 2.9700, respectively, for all intents and purposes the market has recovered enough over the past three days to render last week's 2.9700 - 2.8410 sell-off attempt a 3-wa.... Read More |
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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 |
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Natural Gas Bear Market By: Conor DouglassFebruary 6th, 2012 10:08AM CST Natural gas rallied Thursday as the market digested the latest EIA inventory data before taking a breath in Friday’s session. While a case could be made for a technical double-bottom forming in the daily chart, subscribers to that theory face significant fundamental headwinds as production, inventory, and demand data all point to lower prices.... Read More |
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(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 |
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(NG) Premature to Conclude Nat Gas Spike a Reversal By: RJO MRTJanuary 24th, 2012 8:48AM CST Technicals, January 24, 2012; 7:40am After posting its lowest prices since Feb 2002, it is quite understandable that sentiment accorded this market has reached historically pessimistic levels typical of major base/reversal environments. But despite yesterday's "outside day" (higher high, lower low and higher close than Fri's sess.... Read More |
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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. |
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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. |
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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. |
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(RB) Stubborn Bulls Maintain RBOB Downside Threat By: RJO MRTDecember 15th, 2011 11:46AM CST Technicals, December 15, 2011; 8:40am For the better part of the past month or so we have advised a neutral/sideline policy for the RBOB market given the aimless whipsaw risk we believed the market's position within the 2.46-to-2.86-range would produce. While the market remains constrained by this range that still poses aimless, lateral whip.... Read More |
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(HO) Heating Oil Pauses First Approached as Corrective Within Broader Bull By: RJO MRTNovember 15th, 2011 10:30AM CST Technicals, November 15, 2011; 9:40am The extent of the market's developing bull trend from 04-Oct's 2.6975 low is clear in the daily chart below, with former 3.0953-to-3.1174-range resistance expected to provide new support ahead of continued gains. Weakness below this range in general, and below 09-Nov's 3.0770 corrective low specifi.... Read More |
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(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 |
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(RB) RBOB, Crude Oil Confirm Corrective Setbacks, Re-Expose Developing Bulls By: RJO MRTNovember 2nd, 2011 9:17AM CDT Technicals, November 2, 2011; 7:45am This morning's recovery above a seemingly non-descript corrective high of 2.6434 detailed in the 240-min chart below of the Dec RBOB contract confirms a bullish divergence in the rate-of-change (ROC) measure of short-term momentum. This divergence is important in defining yesterday's rejected low at 2.... Read More |
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(NG) S-T Bull Divergence Could Ignite Broader Nat Gas Reversal By: RJO MRTOctober 31st, 2011 7:54AM CDT Technicals, October 31, 2011; 7:30am The extent and impulsiveness of Fri's recovery above 25-Oct's 3.888 high breaks at least the short-term downtrend from 17-Oct's 4.039 high. This is clear. But against a backdrop of waning downside momentum on a daily scale, the market's recent position at the extreme lower recesses of the pas.... Read More |
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(NG) Beware Nat Gas Basing/Reversal Threat; $3.532, $3.777 Directional Triggers By: RJO MRTOctober 26th, 2011 7:48AM CDT Technicals, October 26, 2011; 7:05am Since 14-Oct's impulsive poke above a 3.630 level that confirmed a bullish divergence in short-term momentum, we have warned traders of at least an interim correction within the past four months' bear trend and, given the constructive seasonal factors this time of year, possibly a broader base/reversal .... Read More |
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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 |
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(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 |
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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 |
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(NG) S-T Divergence, Pessimism, Seasonal Warn of Nat Gas Reversal By: RJO MRTOctober 17th, 2011 7:55AM CDT Technicals, October 17, 2011; 7:45am While the bullish divergence in momentum resulting from Fri's sharp, impulsive recovery above 12-Oct's 3.630 high is of a scale insufficient to conclude the end to the past four months' bludgeoning, we are advising traders to conclude just that due to some ancillary factors that we believe leaves t.... Read More |
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(RB) RBOB Satisfies First Reversal Requirement By: RJO MRTOctober 7th, 2011 8:24AM CDT With yesterday's recovery above 27-Sep's 2.6469 corrective high shown in the daily log chart below, the market has confirmed a bullish divergence in momentum. This arguably breaks the simple downtrend pattern of lower lows and lower highs and satisfies the first of our three reversal requirements. This proof of at least interim strength i.... Read More |
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How Low Can Natural Gas Futures Go By: William MooreSeptember 23rd, 2011 10:09AM CDT Closing out a predominately bearish week of trading, the only real markets that showed considerable gains were the dollar index and the treasuries. While we have technical support for good entry points in several commodities, a scared consumer base will likely encourage a further sell off. Debt fears in Europe and America will do little to encourag.... Read More |
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(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 |
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(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 |
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NG) Nat Gas Pop Exposes Acute Risk/Reward Play- Buy Minis At-Market ($4.000) By: RJO MRTSeptember 7th, 2011 2:10PM CDT Trade Strategies, September 7, 2011; 10:45am Since 31-Aug's bullish divergence in daily momentum shown in the daily chart below, we have been discussing what we believe is an opportunistic base/reversal environment resulting from: the bullish divergence in daily mo that defined a more reliable low and risk parameter at 3.780 the market.... Read More |
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(NG) Confirmed Momentum Failure Resurrects Nat Gas Base/Reversal Threat By: RJO MRTAugust 31st, 2011 12:40PM CDT Technicals, August 31, 2011; 12:20pm In yesterday's Technical Blog we again reminded traders of the factors that warn of a major base/reversal threat despite the fact that the market negated last week's base/reversal discussion with another round of new lows. And following this morning's confirmation of not only a short-term bullish .... Read More |
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(NG) Further Nat Gas Erosion Mitigates Base/Reversal Threat....For Now; But Beware Still By: RJO MRTAugust 30th, 2011 9:13AM CDT Technicals, August 30, 2011; 8:20am In last Tue's Technical Blog and while admittedly early, we painted a basing/reversal picture resulting from a combination of the market's proximity to the extreme lower recesses of this year's range amidst historically bearish sentiment that accompanied each of the past three notable rallies. W.... Read More |
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(NG) $3.996 S-T But Key Cog in Broader Nat Gas Base/Reversal Call By: RJO MRTAugust 23rd, 2011 9:53AM CDT A number of technical factors are coming together that warn of another opportunistic intra-2011-range recovery in nat gas, including: the market's proximity to the extreme lower recesses of this year's rangethe lowest bullish sentiment since that that accompanied all three of this market's past major lows, and a developing bullish di.... Read More |
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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 |
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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 |
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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 |
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Crude Oil Rebound Sights Pivotal $99-Handle Hump By: RJO MRTJuly 14th, 2011 8:31AM CDT While the RBOB and heating oil markets have recouped a much greater amount of their May-Jun losses and remain constructive technically above recent and tight corrective lows and risk parameters at 3.0250 and 3.0376, respectively, the crude oil market remains below a key 99-handle resistance hump it needs to break to confirm basing/reversal behavior.... Read More |
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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 |
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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 |
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Natural Gas; is it today's Technical Wonder? By: Hector GalvanJune 2nd, 2011 8:50AM CDT As we start the first Thursday in June it looks as if we may have a new technical setup in the natural gas. Most people may have not noticed, but many of the factors that have pushed natural gas down the past year are still very much present. We have not had a draw in natural gas in many weeks and storage continues to build up in the physical mar.... Read More |
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