Saturday , November 23 2019
Home / Tag Archives: oil

Tag Archives: oil

More and more West Texas crude heading Down Under

The US is quickly becoming a top supplier of crude for Australia, with the first full laden VLCC with WTI en route to Australia. Like a microcosm of the overall US crude oil export growth phenomenon, Australian refineries are increasingly importing crude oil from the US, quickly making the it one of the main suppliers for the island continent. Through July this year, Australia imported 75.55 million barrels of crude, with just 1.83 million of those barrels, or 2.4%, coming from the US. But...

Read More »

US Crude Rises As Weekly Supply Build Falls Short of Estimates

Crude oil futures are rallying midweek after the US government reported a weekly supply build that fell short of market projections. Oil prices had kicked off Wednesday’s trading session in the red, extending their losses on the week. However, crude quickly pared its losses and has risen more than 1%. January West Texas Intermediate (WTI) crude oil futures surged $0.69, or 1.25%, to $55.90 per barrel at 14:42 GMT on Wednesday...

Read More »

Video: Weekly Commodity Forecast – Gold, Platinum, Palladium Silver, Crude Oil for 18–22 November 2019

In the present video, Phil Carr from The Gold and Silver Club talks about gold, platinum, palladium, silver, and crude oil for the week of November 18–22, 2019. He starts the video by the quick reminder of the last week’s price moves and the reasons for them. Phil then explains factors that will be affecting commodity markets this week. He continues the video with charts...

Read More »

Make it or Break It Week for the Dollar?

The US dollar was little changed for most of last week and then weakened against most of the major currencies ahead of the weekend.  The consensus narrative is that comments by the US Administration fanned optimism on a trade agreement with China, and that encouraged a rally in risk assets.  We are skeptical, in part because earlier worries failed to entice much of a market reaction.  Also, bond yields fell last week, with the 10-year yield on US Treasuries leading the way with an 11 bp...

Read More »

Consumers Are Keeping The US Out Of Recession? Don’t Count On It.

Just recently, Jeffry Bartash published an interesting article for MarketWatch. “Like a stiff tent pole, consumers are keeping the U.S. economy propped up. And it looks like they’ll have to do so for at least the next year. Strong consumer spending has given the economy a backbone to withstand spine-tingling political fights at home and abroad. Households boosted spending by 4.6% in the spring, and nearly 3% in the summer, to offset back-to-back drops in business investment and whispered talk...

Read More »

Oil prices and Aramco IPO raise stakes for OPEC cuts

OPEC officials have played down the prospect of deeper crude oil production cuts. Demand may be picking up and US shale producers are finally feeling the pinch. However, tepid prices and the awkward timing of the giant Aramco IPO will make a strong case for the group to take more action. Oil continuing to trade around $62/b is a problem OPEC has failed to resolve. The group’s key producers from the Middle East require higher prices to sustain their petrodollar economies. Saudi Arabia requires...

Read More »

Video: Crude Oil as of November 12, 2019

In the present video, Phil Carr from The Gold and Silver Club talks about crude oil as of November 12, 2019. He speculates that the commodity will be likely range-bound in the near future and explains how traders can profit from that. Phil also describes events that will be driving crude this week. If you found this video useful and want to see more videos like this one or if you want to see a commodity trading video...

Read More »

US oil drillers face growing issue of water disposal: Fuel for Thought

For every barrel of oil produced from the average Permian Basin well, about three barrels of water get pumped out with it. The water-to-oil ratio is lowest in the established Midland Basin, but more exaggerated in the Delaware and other Texas basins. A midstream water management industry has grown up in Texas alongside the shale oil boom. Most of the water gets injected back underground into disposal wells, although more and more is getting treated and moved to other drilling sites to frack...

Read More »

Commodity Tracker: 5 charts to watch this week

Precious metals top this week’s selection of energy and commodity charts, as palladium prices continue to climb, but provide little upside for platinum. Plus: US natural gas prices, Middle East economies’ oil dependency, European coal-to-gas generation switching and Chinese LNG imports. 1. Palladium continues to roar: eyes on $2,000/oz   What’s happening? Palladium, the darling of the precious metals world for the past 18 months, continues to power forward, leaving sister...

Read More »

The Dollar Snaps Back after the October Pullback: Who has the Big Mo’ Now?

The US dollar had a solid week as the recovery from the October slide began.  We had a high conviction it was coming, but we thought the technical indicators gave scope for one more marginal new low, which in the end did not materialize.  It is difficult to say that there had been much new information or progress on the three macro issues that have captivated investors:  US-China trade, Brexit, and global economic outlook.  The UK is headed for the December 12 election, and that is the...

Read More »