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Tag Archives: oil

Reading the tea leaves: China and commodities in 2020

China’s voracious demand for commodities and energy continued unabated in 2019 despite a slowing economy and uncertain external environment. But what will be on the agenda in 2020 as the economy, environment and energy security come into greater focus? Here are are some key trends to watch over the coming year and what they mean for commodities. Slower growth The recent signing of the first phase of a trade deal between China and the US may herald a truce between the world’s two largest...

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As Maduro hangs on, US may rethink Venezuela oil sector waivers: Fuel for Thought

After nearly a year of sanctions on Venezuelan oil exports have failed to force President Nicolas Maduro from office, the US may effectively remove Chevron and other US companies from the South American nation, potentially quickening the collapse of the country’s oil sector. The Trump administration may let a waiver allowing Chevron, Halliburton, Schlumberger, Baker Hughes and Weatherford International to continue certain work with PDVSA, outside of US sanctions, expire on January 22. In...

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Commodity Tracker: 5 charts to watch this week

In this week’s pick of energy and commodities trends, European wind generation storms into 2020 and oil refiners in Asia and Europe feel the impact of US-Iran tensions. Plus, S&P GSCI index performance in 2019 reveals investors’ darlings among commodities.  1. European wind charge sweeps away nuclear concerns     What’s happening? Wind generation records tumbled across Europe last year and 2020 got off to a flying start in week 1 with fresh output highs across...

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Technicals: The Underlying Signal

The heightened geopolitical risks and then the unwind drove the price action in the capital markets last week, the first full week of the new year.  These are the kind of markets that whipsaw even the most experienced and nimble among us.  We review the recent price action and technical condition of some of the major currencies and other instruments that are frequently driven by the same macro forces, or influence the foreign exchange market with the hope of being able to identify the...

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Crude Oil Falls Despite Decline of US Oil Rig Count

Futures for crude oil continued to decline today despite the fall of the US oil rig count. According to the report released by Baker Hughes during the US trading session, US drillers reduced the number of oil rigs by 11 to 659 this week. It was the third consecutive weekly decline. The number of gas rigs fell by 4 to 119. Yet the news did not stop oil prices from declining further. The major...

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Video: Oil Price Analysis for 2020 – Less Production to Bring a Rally?

In the present video, David Jones from Capital.com provides his forecast for crude oil in 2020. He starts the video by looking at the performance of crude in 2019. David proceeds then with an explanation of factors that will be affecting the oil market in the coming months. Next, he shows important support and resistance levels that prices may hit and then discusses charts of oil. The video...

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The crude oil spectrum: Platts periodic table of oil

The global oil market is brimming with a smorgasbord of crudes, from the Canadian tar sands extracted with the help of steam and sand, to the lightest US condensates whose color mirrors a glass of fine white wine. Each crude stream possesses its own unique characteristics, and when refined yields varying proportions of different refined products. Understanding crude quality has never been more important, following the dramatic rise in US shale output, which has transformed the composition of...

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Hopes of De-Escalation Help Markets Stabilize

Overview: The Iranian retaliatory missile strike on Iraqi-bases housing US forces initially sparked a dramatic risk-off response throughout the capital markets. The muted response by the US coupled with signals from Tehran that it had "concluded" its proportionate measures saw the markets retrace the initial reaction. It was too late for equities in the Asia Pacific region, and several markets (Japan, China, Korea, Malaysia, and Thailand) fell more than 1%. Europe is faring better,...

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Video: Crude Oil as of January 8, 2020

In the present video, Phil Carr from The Gold and Silver Club talks about crude oil as of January 8, 2020. He talks about the recent performance of the commodity, explains what factors will be affecting oil this week, and speculates where prices may go during the rest of the 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...

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Oil & Precious Metals Rally After Iran Attacks US Military Bases

Crude oil rallied today after Iran attacked US military facilities in Iraq. Gains were limited, though, as markets demonstrated a calm reaction to the news. Gold and silver rallied as well. Palladium demonstrated especially big gains, jumping more than 1%. Platinum, on the other hand, demonstrated significant losses. Iran attacked two US military bases overnight. According to reports, 15 missiles were fired, and 11 of them hit their...

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