Wowee. What a week. After last week’s post-Fed craziness and subsequent sell-off, this week has seen the crude complex gradually unwinding the wall of worry built up by fears of the end to stimulus. As for natural gas, it has not only been pummeled to a 3.5-month low by ongoing mild weather (and low demand), but has dropped below the significant level of the 200-day moving average. Snacks ahoy! » read more
Posts Tagged ‘gasoline’
Good day! And as we make it to the end of another week, crude oil is pushing on to a multi-month high on a combo of a weaker dollar and geopolitical tension, overlooking some bearish-tilted monthly reports from the EIA, IEA, and Opec, as well as some mixed economic data. As for natural gas, more moderate weather conditions (innit beautiful?!) and outlooks have sent the bulls charging to the sidelines. Snacks ahoy! » read more
Regardless of whether a market is moving up or down, there is always someone making money somewhere. There are various examples every day – be it a billionaire selling a stock short (i.e., Herbalife) or a company selling a meal short on ingredients (i.e., horsemeat economics). Some methods are legitimate, and some are not. But one thing is for sure…energy markets are by no means immune to such collusion. » read more
Unfortunately my flight to New York was canceled yesterday (although it was probably for the best…), so this morning’s appearance on CNBC’s Squawk Box was done via satellite, and with blue skies to boot. Hark, click on the below mug shot to hear my take on the potential impact from Hurricane Sandy on refineries, and the current price pressure at the pump seen in the Northeast. Take care, y’all.
Happy Friday 13th! And it is indeed turning out to be an unlucky day for markets, as credit downgrades to European countries have scuppered the goodwill that had been carefully constructed in the last week.
Crude had already been pressured back into double-digitdom by the likely delay to an oil embargo on Iran by the EU, while natural gas has plundered lower and lower on moderate weather outlooks, and both rampant storage surpluses and supply. But enough from me, let’s hit the treats. » read more