Silver as an investment

Category Archives: Crude Oil

European Stocks, Futures Rebound As Stronger Dollar Eases Haven Demand

European stocks rebounded after the biggest one-day drop since November, alongside S&P futures, while Asian equities posted modest declines after yesterday’s weak US close. Gold and yen slid, while the dollar gained on the latest Mnuchin comments to the FT according to which Trump was “absolutely not” trying to talk down the dollar. European equities […]

US Oil Rig Count Surges To 2-Year High – Will Shake Kill The Oil Rally Again?

For the 14th straight week, US oil rig counts rose (by 11 to 683). This is the highest since April 2015… and leads US crude production to its highest level since Aug 2015.   The question is, as OilPrice.com's Nick Cunningham asks, will Shale kill off the recent oil price rally again? WTI has rallied […]

Frontrunning: April 13

Trump comments trigger U.S. dollar, bond yield slide (Reuters) N. Korea Nuclear Test Could Come Saturday or Sooner, Sources Say (VoA) Fear Is Creeping Back Into Markets (BBG) Trump Liking Yellen Ignites Prospects for Fed Policy Continuity (BBG) CEOs gaining power in Trump’s White House (Politico) Indexes Beat Stock Pickers Even Over 15 Years (WSJ) […]

Crude Oil; Two Thirds odds of breakout, target $70

Crude Oil has created a series of lower highs and lower lows since the peak in 2008. Since the lows of 14-months ago, Crude has created a series of higher lows and potentially creating a bullish ascending triangle pattern. This pattern two-thirds of the time, leads to an upside breakout. Below looks at a chart Crude […]

OPEC’s No.2 Goes Rogue: Plans 600,000 Bpd Oil Output Increase

Authored by Irina Slav via OilPrice.com, Iraq has plans to boost its crude oil production by 600,000 bpd to 5 million bpd by the end of this year, regardless of its participation in OPEC’s production cut deal. Iraq is the cartel’s second-biggest exporter of crude and has been the most disinclined of all parties to […]

Are Mexico’s Oil Reserves Almost Depleted?

Submitted by OilPrice Mexico’s oil and gas regulator said last week that the country’s proved hydrocarbon reserves will drop by 10.6 percent in 2017. This forecast, coupled with the lower oil production that state company Petroleos Mexicanos (Pemex) reported for yet another year in 2016, is painting a rather bleak picture of Mexico’s reserves. Without […]

As Quota Compliance Tumbles, Is The End Of OPEC Near?

OPEC’s progress in reducing the oversupply in global oil markets relied on contributions from Nigeria and Libya in March, two countries that are exempt from the group’s deal to rein in production. The Organization of Petroleum Exporting Countries pumped 32.095 million barrels a day, down 200,000 a day from February, according to a Bloomberg News […]

Having Missed Friday’s Move, Gartman Is Looking To “Reestablish Net Short Positions”

On Friday morning, ahead of Congressional and market rollercoaster resulting from the Republicans’ failure to repeal Obamacare, we reported that Dennis Gartman had “moved to the sidelines” and covered his recent short: Regarding positioning… and please do remember that the only money we manage is our own retirement fund and although it is only a […]

Global Stocks Slide, S&P Futures Tumble Below 50DMA As “Trump Trade” Collapses

Global stocks are lower across the board to start the week, as concerns about Trump’s administration to pull off a material tax reform plan finally emerge, pressuring S&P futures some 20 points lower this morning, following European and Asian shares lower, while crude oil prices fall unable to find support in this weekend’s OPEC meeting […]

RBC Emergency Market Update: “Big Trouble For Consensus Trades”

Markets may not be turmoiling yet, but as per this “emergency” Sunday night “hot take” from RBC’s cross-asset head Charlie McElligott notes, things are certainly starting to break. SPECIAL EDITION RBC Big Picture: BIG TROUBLE FOR CONSENSUS ‘REFLATION’ TRADES AS ‘FISCAL POLICY’ FEARS CONFIRMED  #HOTTAKE: ‘Risk-off’ in a sloppy Asian opening to start the week […]