Trade War Takes a Back Seat to Oil Fundamentals
Middle East Market Momentum?
The latest episode from Iran revolves around an Iranian drone that was destroyed by a U.S. Navy ship in the Strait of Hormuz. According to the U.S. Navy, the drone had flown within 1,000 yards of the USS Boxer and had ignored “multiple calls to stand down.” The end result, the drone was immediately obliterated. […]
Read MoreEarly Morning Explosion
Early Friday morning, a massive explosion occurred in south Philadelphia at the Philadelphia Energy Solutions Refining Complex. The 150-year-old oil refinery, opened in 1866 just after the Civil War, had a vat of butane ignite and explode causing Interstates 76 and 95 to close and even “rattled” homes in the South Jersey area.
Read More$40/Barrel a Possibility?
Oil Prices Take Breather after Wednesday’s Strong Rally Led by Gasoline
Oil prices are taking a breather today after Wednesday’s strong rally due in large part to the gasoline inventory draw and low production levels in Venezuela.
Read MoreSleepy Shale
The fall in oil prices at the end of last year combined with pressure from investors has led to a slowdown in the U.S. shale industry.
Read MoreTrump’s Tweet Helps Send Us Lower
WTI failed to settle above $60/barrel yesterday and President Trump’s tweet warning OPEC on high oil prices may be taking the wind out of the bull’s sails.
Read MoreSharp Rally, Now What?
After a sharp rally to begin the year, oil prices have been trading in a tight range over the past two weeks and are waiting for their next cue to determine price direction.
Read MoreOil Slides Down The Slope
Brent crude Oil prices hit a two-month high near $64 a barrel as OPEC led supply cuts and U.S. sanctions against Venezuela’s oil exports brightened the supply outlook, but prices fell back on uncertainty about prospects for the global economy.
Read MoreTrade Talks Buoy Markets, but U.S. Production Growth Looms
The U.S. and China conclude their two-day trade talks in Beijing today with President Trump tweeting this morning “Talks with China are going very well!” This tweet and word that China had their top trade official, Liu He, attend the talks early this week have boosted equity and oil markets along with it as February […]
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