This post is also available in: Dutch, GermanU.S. crude oil refinery inputs averaged 14.9 million barrels per day during the week ending September 3, 90 thousand barrels per day above the previous week’s average. Refineries operated at 88.2 percent of their operable capacity last week. Gasoline production increased last week, averaging 9.5 million barrels per [...]
This post is also available in: Dutch, GermanThe price of a barrel of oil would be closer to 10 dollars per barrel if the commodity wasn’t traded as an investment instrument, given the record-high levels of U.S. oil inventories, Peter Beutel, president of Cameron Hanover, said: “I honestly think that if there were no investors [...]
This post is also available in: Dutch, GermanOil prices rose on Wednesday for the first time in three sessions to trade around $75 a barrel, bouncing with equities and supported by a weaker dollar as concerns over the European banking system eased and investors cautiously bought riskier assets. A weaker U.S. dollar tends to boost [...]
This post is also available in: Dutch, GermanCrude Oil (WTI) – $74.69 // $0.02 // 0.03% Commentary: Crude oil reversed all of Tuesday’s losses on Wednesday, rising $0.58, or 0.78%. The commodity remains hamstrung. however, as inventories remain elevated and economic worries persist. Thursday brings the release of U.S. petroleum inventory data from the government; [...]
This post is also available in: Dutch, German The above chart represents the seasonality for Crude Oil Futures Continuous Contract (CL) for the past 20 years. Date range: January 1, 1990 to December 31, 2009 Source: Equity Clock If you look at this seasonal chart you can see the bad seasonality from October to late [...]
This post is also available in: Dutch, GermanCrude Oil (WTI) – $73.66 // $0.43 // 0.58% Commentary: Crude oil kicked off the new, holiday-shortened week on a down note, shedding $0.51, or 0.68%. Things were worse for the commodity in the early part of Tuesday’s trade, as crude was down almost $2 at one point, [...]
This post is also available in: Dutch, GermanThe price of spot crude oil fell during yesterday’s trading following renewed concerns over the global economic recovery. This time around it was Europe that sparked fears of a weakened banking system and fiscal concerns in Ireland. Spot crude oil prices fell to $73.80, after opening the [...]
This post is also available in: Dutch, GermanOil futures are showing large contango spreads in the November and December contracts. November and December futures are trading 2.3% and 4.4% respectively, above front month prices. That is a carry trader paradise, especially if you are bearish on oil or on the economy in general. Small investors [...]
This post is also available in: Dutch, GermanMarket Overview: A classic EU sovereign debt/banking crisis fear inspired risk aversion day, slamming risk assets, especially the EUR. Sparked by a WSJ report that July bank stress tests understated PIIGS bond exposure. This is old new, but comes at a sensitive time as PIIGS seek to sell [...]
This post is also available in: Dutch, GermanCrude Oil (WTI) – $73.92 // $0.68 // 0.91% Commentary: Crude oil is currently down after falling on Friday despite a better-than-expected U.S. nonfarm payrolls report and rallying equity markets. Surging U.S. inventories continue to put pressure on the commodity, which typically rallies strongly on global growth optimism. [...]
