Oil
Gold, Silver, Oil Weekly Preview
The Overall Technicals Comex Gold (GC) Gold’s consolidation extended last week and despite the dip, it is staying above the minor support at 1404.0. So, this consolidation may continue and another rise cannot be ruled out. But, a s long as the resistance holds at 1526.7, my outlook will stay Bearish. A break below 1404 signals that recovery is [...]
Oil Price Moving Higher
Oil Price Moving Higher Crude Oil (Jun 13) intraday: further advance. Pivot: 94.85 Our preference: LONG positions above 94.85 with targets @ 97.2 & 98. Alternative scenario: The downside breakout of 94.85 will open the way to 93.7 & 92.95. Comment: the RSI is supported by a bullish trend line. Opinion published is an intraday [...]
Crude Oil Continues Rally
Crude Oil Continues Rally Crude Oil (Jun 13) intraday: the bias remains bullish. Pivot: 95.35 Our preference: LONG positions above 95.35 with targets @ 97.2 & 98. Alternative scenario: The downside penetration of 95.35 will call for 94.7 & 93.55. Comment: intraday support around 95.35 Opinion published is an intraday view. Green Lines Represent Resistance [...]
US Should Eliminate Its Strategic Petroleum Reserve SPR
US Should Eliminate Its Strategic Petroleum Reserve SPR The US is a nation awash in energy resources, and it should now sell the contents of its Strategic Petroleum Reserve (SPR) and use the proceeds to reduce the budget deficit, says Oil economist Phil Verleger, a visiting fellow at the Institute for International Economics. The SPR [...]
Gold, Silver and Oil Prices
Gold, Silver and Oil Prices Comex Gold (GC) The recovery from 1321.5 extended last week but showed sign of loss of momentum. This recovery is being viewed as a correction only. So, as long as resistance holds at 1526.7, the outlook stays Bearish. A move below 1404 signals that the recovery is finished and will [...]
Market Report, Brent and Oman Crude Oil
Market Report, Brent and Oman Crude Oil Some are suggesting that as Brent Crude Oil will enter the new trading week with an improved UK economic view and a vastly improved US economic view. Some minor shipping setbacks on North Sea cargos, refinery glitches in the US and the potential for higher Middle East official [...]
Gold, Silver and Oil Prices This Week
Gold, Silver and Oil Prices This Week The Overall Fundamentals Commodities recovered across the board last week on bargain hunting and short covering after the sharp selloff the week before. The Bullishness could be temporary and extension rallies from the current price levels are less likely, the market fundamentals are still weak overall. The spread [...]
US Crude Oil Output Grows, LLS Discounts Ahead
US Crude Oil Output Grows, LLS Discounts Ahead After reaching a multi-year high above $7 bbl in March, the premium of Louisiana Light Sweet Crude Oil over Brent Crude grade has shrunk closer to parity as supply disruptions on the US Gulf Coast eased, according to the US Energy Information Administration. Concerns over global economic [...]
Chevron’s NYSE:CVX Dividend Hike Trumps Exxon Mobil’s NYSE:XOM
Chevron’s NYSE:CVX Dividend Hike Trumps Exxon Mobil’s NYSE:XOM Chevron Corporation trumps rival Exxon Mobil Corporation ahead of both corporate earnings reports. Chevron had a high yield dividend compared to Exxon, but now the margin became even wider. Early Thursday Exxon lifted the dividend it pays by about 10.5% and that generated a yield of 2.81% [...]
Trading Preview, Gold, Silver and Crude Oil
Trading Preview, Gold, Silver and Crude Oil US Gold futures prices finished pit trade with strong gains and tapped a 2 wk high Thursday driven by technical buying and safe-haven demand. The worldwide demand for physical Gold is a good sign for the Gold market. Funds like HeffCap’s Metals Funds that have built a unique [...]
Preview, Gold, Silver and Crude Oil Trade
Preview, Gold, Silver and Crude Oil Trade US Gold futures prices finished pit trade higher Wednesday, as traders and investors continue to step in buying the dip in prices. Demand for physical Gold worldwide is strong after last week’s price plunge. Outside market forces were Bullish for Gold and Silver Wednesday, as the USD index [...]
U.S. Oil & Gas Target of Foreign Investors
U.S. Oil & Gas Target of Foreign Investors Foreign Buyers Prop Up Deal Activity in the U.S. Oil & Gas Industry as Private Equity Pauses During First Quarter 2013, According to PwC US Q1 2013 Deal Volume and Value Increases Year-Over-Year Shale Deals Comprised 46% of Total Deal Volume The acceleration of deals at the [...]
US Gasoline Supply Down Sharply
US Gasoline Supply Down Sharply USO, UGA The US Energy Information Administration (EIA) released its weekly petroleum status report Wednesday. US commercial Crude Oil inventories increased by 900,000 bbls last week, bringing the total US commercial Crude Oil inventory to 388.6-M bbls, still well above the upper limit of the 5 yr range for this [...]
Iran, Crude Oil price below US$ 100 bbl is unreasonable
Iran, Crude Oil price below US$ 100 bbl is unreasonable Iran’s Oil Ministry spokesman said Tuesday that Crude Oil price below US$100 bbl is “unreasonable”, Press TV reported. Alireza Nikzad-Rahbar said that Tehran is discussing falling crude oil prices with all member states of the Organization of the Petroleum Exporting Countries (OPEC) particularly with Saudi [...]
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