Gold Down on Firm USD, as China Halts Trade Talks + Commodities

Gold Down on Firm USD, as China Halts Trade Talks + Commodities

Gold Down on Firm USD, as China Halts Trade Talks + Commodities $GLD, $SLV, $USD, $PLAT, $PALL, $USO, $OIL, $SOY, $CORN, $WEAT In Asia Gold edged lower Monday, as USD held firm on news that China has cancelled trade talks with the United States, with the market also eyeing this week’s FOMC policy meeting for guidance on […]

Gold Prices Up, Easing Trade Concerns Soften USD + Commodities

Gold Prices Up, Easing Trade Concerns Soften USD + Commodities

Gold Prices Up, Easing Trade Concerns Soften USD + Commodities $GLD, $SLV, $USD, $PLAT, $PALL, $USO, $OIL, $SOY, $CORN, $WEAT In Asia Asian stocks extended gains Friday thanks to Wall Street marking all-time highs, as investors believe that the latest exchange of tariffs between the United States and China may be less damaging than initially feared. […]

Gold Prices Steady, Trade Concerns Pressure USD + Commodities

Gold Prices Steady, Trade Concerns Pressure USD + Commodities

Gold Prices Steady, Trade Concerns Pressure USD + Commodities $GLD, $SLV, $USD, $PLAT, $USO, $OIL, $SOY, $CORN,$WEAT In Asia Asian stocks followed global indexes higher Thursday, as investors took a less bearish view on the impact of the US-China trade war on markets, a sharp contrast to dim expectations economists had on US growth amid the […]

Gold Prices Up, as USD Eases + Commodities

Gold Prices Up, as USD Eases + Commodities

Gold Prices Up, as USD Eases + Commodities $GLD, $SLV, $USD, $PLAT, $USO, $OIL, $SOY, $CORN,$WEAT  Gold prices edged up Wednesday, as the USD weakened despite another round of reciprocal tariffs in the US-China trade dispute. In focus 19 September 2018 Spot gold up 0.1 % to 1,199.18 oz by 0044 GMT US gold futures […]

Wall Street Not Worried About President Trump’s Trade Policy

Wall Street Not Worried About President Trump’s Trade Policy

Wall Street Not Worried About President Trump’s Trade Policy $DIA, $SPY, $QQQ, $RUTX, $VXX Wall Street finished higher Tuesday in a broad-based rally as investors brushed aside trade rhetoric between the United States and China showing no fear, only cheer. All 3 major U.S. indexes closed higher following Monday’s pause to refresh. Late Monday, US […]

Crude Oil Prices Soften on Renewed Trade Concerns

Crude Oil Prices Soften on Renewed Trade Concerns

Crude Oil Prices Soften on Renewed Trade Concerns $USO, $OIL NYMEX WTI Crude Oil prices settled modestly lower Monday, as gains on expectations for steep losses of Iranian Crude Oil were offset by fears that rising US-China tensions could soften global demand. On the New York Merc, Crude Oil futures for November delivery fell 19c to […]

America First, Financial Markets Briefing 

America First, Financial Markets Briefing 

America First, Financial Markets Briefing $SPY, $USD, $OIL, $USO, $USD, $CU Hong Kong, China equities slide Monday on trade concerns  WS-J reporting Monday that China could skip trade talks with US Stocks in Asia opened the week under pressure after the latest US move to place a 3rd tranche of tariffs on Chinese goods, as […]

Saudi Arabia Reduced Its Crude Oil Production in July

Saudi Arabia Reduced Its Crude Oil Production in July

Saudi Arabia Reduced Its Crude Oil Production in July $OIL, $USO NYMEX WTI Crude Oil -0.5% closed at 67.28 bbl (USO) 13 August 2018 OPEC released its monthly Oil Market Report Monday. Saudi Arabia did reduce Crude Oil production in July following preliminary reports last week, despite its agreement to raise output, following recent OPEC/NOPEC […]

Expect Lower Oil Prices

Expect Lower Oil Prices

The U.S. Energy Information Administration (EIA) on Wednesday reported a large build in crude oil inventories and a production decline in the week ending July 27. According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.8 million barrels last week. The market’s […]

Oil Price: Iran has threatened to block the Strait of Hormuz

Oil Price: Iran has threatened to block the Strait of Hormuz

Iran has threatened to block the Strait of Hormuz, a vital artery for oil shipments from the Middle East. The warning comes in response to the US, which is trying to cut off Iranian crude exports. After pulling out of a landmark international deal curtailing Tehran’s nuclear program, Washington has ordered countries to cease buying […]

Iran ‘Insulted’ over President Trump’s Instructions to OPEC

Iran ‘Insulted’ over President Trump’s Instructions to OPEC

Iran ‘Insulted’ over President Trump’s Instructions to OPEC $OIL, $USO Saturday, Iran’s oil minister on accused US President Donald Trump of insulting OPEC by ordering it to increase production and reduce prices, adding that Iranian output. US President Trump Wednesday accused the Organization of the Petroleum Exporting Countries (OPEC) of driving fuel prices higher, urging […]

President Trump, Calls on Saudi Arabia to Increase Crude Oil Production

President Trump, Calls on Saudi Arabia to Increase Crude Oil Production

President Trump, Calls on Saudi Arabia to Increase Crude Oil Production $USO, $OIL “The price is too high, the King agreed.” President Donald Trump said this weekend  that he had received assurances from King Salman of Saudi Arabia that the Kingdom will increase oil production, “maybe up to 2,000,000 barrels” in response to turmoil in […]

President Trump, “Oil prices are too high OPEC”

President Trump, “Oil prices are too high OPEC”

President Trump, “Oil prices are too high OPEC” $USO, $OIL Wednesday, US President Donald Trump and Iran exchanged sharp words over Crude Oil prices. President Trump blames OPEC for high Crude Oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran. Crude Oil […]

President Trump’s Tweet Set Stage for Expanding OPEC and non-OPEC Crude Oil Production

President Trump’s Tweet Set Stage for Expanding OPEC and non-OPEC Crude Oil Production

President Trump’s Tweet Set Stage for Expanding OPEC and non-OPEC Crude Oil Production $OIL, $USO Saudi Arabia’s signal to ease limits on Crude Oil production led to prices falling Friday after a 3-week rally, and OPEC cited an angry Tweet by President Donald Trump as the trigger. Saudi Arabia’s Minister of Energy Khalid al-Falih Tweeted: “I reiterated […]

Expect Crude Oil Prices to Cool, $80 bbl ‘Unhealthy’

Expect Crude Oil Prices to Cool, $80 bbl ‘Unhealthy’

Expect Crude Oil Prices to Cool, $80 bbl ‘Unhealthy’ $DIA, $SPY, $QQQ, $USO, $OIL, $VXX BP (NYSE:BP) CEO Bob Dudley expects a flood of US Shale Oil, and the reopening of OPEC taps to cool the Crude Oil market after price rose above $80 bbl this week. US President Donald Trump’s decision to exit an […]

Oil Price on the Move: Sell the Rally

Oil Price on the Move: Sell the Rally

Crude surged to the highest level since November 2014 over fears that the United States could pull out of the Iranian nuclear pact. If the deal is scrapped, Iranian oil exports are at risk. Brent crude oil touched $75.89 a barrel, while the US West Texas Intermediate reached $70.52. The yuan-traded Shanghai futures surged to […]

US Exporting WTI Crude Oil to EU, Cramps OPEC’s Pricing Plans

US Exporting WTI Crude Oil to EU, Cramps OPEC’s Pricing Plans

US Exporting WTI Crude Oil to EU, Cramps OPEC’s Pricing Plans $USO, $OIL, $XOM, $BP US Crude Oil producers are benefiting from OPEC’s price squeeze and exporting cheaper WTI Crude Oil to Europe in record amounts. Russia alligned with the Organization of the Petroleum Exporting Countries (OPEC) last year in cutting Crude Oil output jointly […]

President Trump Warns OPEC on “Artificially” Pricing Crude Oil

President Trump Warns OPEC on “Artificially” Pricing Crude Oil

President Trump Warns OPEC on “Artificially” Pricing Crude Oil $OIL, $USO Crude Oil retreats from highest marks in more than 3 years Friday, US President Donald Trump accused OPEC of “artificially” boosting Crude Oil prices after a year-plus pact that has cut global crude inventories, drawing rebukes from Oil-producing countries as prices dipped following his […]

Oil May see a Production Cut

Oil May see a Production Cut

Oil May see a Production Cut Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, has underscored the need to extend the crude oil production cut deal to ensure market stability and reasonable prices, noting that reaching an agreement by OPEC and non-OPEC countries toward this end is possible and is likely […]

Geopolitics Changed, American Energy Sector in a ‘Revolution’

Geopolitics Changed, American Energy Sector in a ‘Revolution’

Geopolitics Changed, American Energy Sector in a ‘Revolution’ $USO, $OIL, $UGAZ, $UGA US Energy Secretary Rick Perry said that “American energy is in a Revolution.” “That is the real story out there,” Secretary Perry, the former 14-yr Texas Republican Governor, said in an interview Friday. He noted that innovations in hydraulic fracturing and directional drilling […]

OPEC and the Oil Price

OPEC and the Oil Price

The Joint OPEC-Non-OPEC Ministerial Monitoring Committee,JMMC, has no authority over executive decisions to continue lowering global oil production, said Kuwait’s Minister of Oil and Minister of Electricity and Water Essam Al-Marzouq Wednesday. In a joint news conference with Venezuela’s Oil Minister Eulogio del Pino, Al-Marzouq — who chairs the committee — said that it was […]

Oil Price Outlook

Oil Price Outlook

World oil demand growth in 2017 is expected to rise by 1.42 mb/d after an upward revision of around 50 tb/d,according to OPEC Monthly Oil Market Report, MOMR. Crude inventories rose by 6.2 million barrels in the week to Sept. 8 to 468.8 million, nearly double analysts’ expectations of an increase of 3.2 million barrels. […]

OPEC Crude Oil Production Rises Above Its Output Ceiling

OPEC Crude Oil Production Rises Above Its Output Ceiling

OPEC Crude Oil Production Rises Above Its Output Ceiling $OIL, $USO Crude Oil production across all OPEC countries rose again in July, to above the marks the cartel had agreed would be the upper limit, and above the estimated level of global demand. OPEC said Thursday in a market report that its countries’ production rose […]

Oil Price Outlook

Oil Price Outlook

The oil market is making steady and significant progress towards rebalancing, said the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) in a statement following its 4th meeting in St. Petersburg, Russia, on Monday. This assertion was based on the report of the Joint OPEC-Non-OPEC Technical Committee (JTC) for the month of June 2017, which reviewed the […]

Oil Price Tanks

Oil Price Tanks

Oil Price Tanks The international benchmark Brent crude was trading 2.5 percent down, at $46.91 per barrel at 11:40 GMT. US West Texas Intermediate (WTI) crude futures dropped 2.6 percent, to $44.33 per barrel. Prices for crude have dropped more than 2 percent on Friday as official data revealed that US drillers boosted production by […]

UAE Energy Minister, “No talk about further OPEC supply cuts”

UAE Energy Minister, “No talk about further OPEC supply cuts”

UAE Energy Minister, “No talk about further OPEC supply cuts” $OIL OPEC and allied non-OPEC producers agreed on 25 May to extend an existing supply curb into Y 2018 There is no talk of further Crude Oil output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies despite only a slow […]

See WTI Crude Oil Price Falling to $30 bbl or Lower

See WTI Crude Oil Price Falling to $30 bbl or Lower

See WTI Crude Oil Price Falling to $30 bbl or Lower $USO, $OIL Experts, including me are warning that Crude Oil prices might continue to decline, and could revisit Y 2016 lows and then some. “Oil is in a downtrend and risks trending into the 30’s,” said a technical strategist at Bank of America Merrill […]

Crude Oil Breaks Key Support, Marks 7 Month Lows

Crude Oil Breaks Key Support, Marks 7 Month Lows

Crude Oil Breaks Key Support, Marks 7 Month Lows $OIL, $USO Crude Oil fell about 2% Tuesday, with Brent Crude settling at 7 month lows and WTI Crude Oil at its cheapest marks since September, after increased supply from several Key producers topped high compliance by OPEC and non-OPEC Oil producers with a deal to […]

The Middle East, Oil and the Future

The Middle East, Oil and the Future

The Middle East, Oil and the Future “The Economies of the GCC States in the Post-Oil Era: Horizons and Solutions” was the underlying theme of a seminar in which Fujairah Chamber of Commerce and Industry participated in Oman recently. The seminar, organised by the Oman Chamber of Commerce and Industry, sought to identify the nature […]

Oil Prices Rally

Oil Prices Rally

Oil Prices Rally Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers agreed to curb production by 1.8 million barrels per day (bpd) for six months from January 1 to support the market and push prices to $60 per barrel. “Saudi and Russia are clearly working closely together. Saudi seems very determined to […]

Crude Oil Hits 1-month Highs on US Missile Strikes in Syria

Crude Oil Hits 1-month Highs on US Missile Strikes in Syria

Crude Oil Hits 1-month Highs on US Missile Strikes in Syria $USO, $OIL, $GLD Friday, Crude Oil prices hit 1-month higsh after the United States fired missiles at a Syrian government airbase, sending shockwaves through global markets and raising concerns that the conflict could spread in the Oil-rich region. The toughest US action yet in […]

Crude Oil Prices Falling, Traders Worry About Global Supply Glut

Crude Oil Prices Falling, Traders Worry About Global Supply Glut

Crude Oil Prices Falling, Traders Worry About Global Supply Glut $USO, $OIL, $BHI Crude Oil prices fell Monday in part by renewed concerns about the global supply glut after a meeting of the Organisation of Petroleum Exporting Countries (OPEC) producers failed to impress traders and investors. May WTI Crude Oil fell 0.44, or 0.9%, to […]

Crude Oil Taps 3-Month Lows, US Supply Glut Swells

Crude Oil Taps 3-Month Lows, US Supply Glut Swells

Crude Oil Taps 3-Month Lows, US Supply Glut Swells $OIL, $USO, $BHI Crude Oil (OIL, USO) hung around 3-month lows Monday on rising inventories and drilling activity in the United States. After 2 + months of reduced production from the Organization of the Petroleum Exporting Countries (OPEC), the market is facing evidence that US production […]

Crude Oil (USO, OIL) Breaks Key Support, Heading ‘Due South”

Crude Oil (USO, OIL) Breaks Key Support, Heading ‘Due South”

Crude Oil (USO, OIL) Breaks Key Support, Heading ‘Due South” $USO, $OIL Crude Oil’s clear break through Key support at 50 bbl has set the options market On Fire. A record number of options contracts, the equivalent to more than 800-M bbl of Crude Oil changed hands Thursday, according to the exchange data. The tally includes […]

OPEC and Non-OPEC Producers Agree to Cut Crude Oil Production

OPEC and Non-OPEC Producers Agree to Cut Crude Oil Production

OPEC and Non-OPEC Producers Agree to Cut Crude Oil Production $OIL Saturday, OPEC and non-OPEC producers reached their first deal since Y 2001 to curtail oil output jointly and ease a global glut after more than 2 years of low prices that stretched many budgets and triggered unrest in some countries. With the deal signed […]

Glencore, Qatar Sovereign Wealth Fund Take 19.5% Stake in Russia’s Rosneft

Glencore, Qatar Sovereign Wealth Fund Take 19.5% Stake in Russia’s Rosneft

Glencore, Qatar Sovereign Wealth Fund Take 19.5% Stake in Russia’s Rosneft Commodities giant Glencore (L:GLEN) and Qatar’s sovereign wealth fund teamed up and acquired a 19.5% stake in Russia’s top state-controlled oil company, Rosneft (L:RNS), in a deal worth $11.3 billion, officials said Wednesday. The sale is part of the Russian government’s efforts to sell […]

Crude Oil Declines Ahead of 30 November OPEC Talks

Crude Oil Declines Ahead of 30 November OPEC Talks

Crude Oil Declines Ahead of 30 November OPEC Talks $OIL, $USO The OPEC meeting scheduled for 30 November continues to dominate Crude Oil’s price movements. Reports surfaced late Friday that Saudi Arabia has walked away from a planned meeting with Russia and other non-OPEC producers after the Saudis were unable to reach an agreement with […]

Expect Bigger Crude Oil Surplus in Y 2017, Output Jumps

Expect Bigger Crude Oil Surplus in Y 2017, Output Jumps

Expect Bigger Crude Oil Surplus in Y 2017, Output Jumps $USO, $OIL According to OPEC’s report, October’s supply boost mostly came from Libya, Nigeria and Iraq OPEC reported an increase in its Crude Oil production in October to a record high led by members hoping to be exempt from the producer group’s attempt to curb […]

OPEC’s Job Now Tougher with Trump Win

OPEC’s Job Now Tougher with Trump Win

OPEC’s Job Now Tougher with Trump Win $CVX, $XOM, $RDS.A, $BP, $TOT, $OIL OPEC’s job of trying to prop up Crude Oil prices has just got much, much harder. With Donald Trump winning the US Presidential election, the 14-country Crude Oil-producing cartel may have to battle a sourer outlook for the global economy and weaker […]

OPEC Back in Business, the Market is Sceptical

OPEC Back in Business, the Market is Sceptical

OPEC Back in Business, the Market is Sceptical $OIL, $USO Crude Oil plummets to a 1-month low following the conclusion of the weekend’s 2-day informal technical OPEC meeting Familiar concerns have emerged about OPEC’s willingness and ability to cut production in order to push prices higher OPEC’s output accord in Algiers last month was initially […]

Crude Oil Glut Widens, Saudi Arabia ‘Jawbones’ Prices

Crude Oil Glut Widens, Saudi Arabia ‘Jawbones’ Prices

Crude Oil Glut Widens, Saudi Arabia ‘Jawbones’ Prices $OIL, $USO When I dig deep into the world of barreled and stored Crude Oil, Bearish signals abound in the EU market that helps dictate global Crude Oil prices. The price difference between Brent Crude for delivery out 2 and 3 months, a meausre telling traders how […]

Iran’s Crude Oil Exports at Pre-sanctions Highs

Iran’s Crude Oil Exports at Pre-sanctions Highs

Iran’s Crude Oil Exports at Pre-sanctions Highs $OIL Iran, Libya and Nigeria are  allowed to produce “at maximum levels that make sense” as part of any output limits Iran’s total Crude Oil and condensate sales likely reached around 2.8-M BPD in September nearly matching a Y 2011 peak in shipments before sanctions were imposed on […]

On the Sidelines of G20, No Crude Oil Production Freeze

On the Sidelines of G20, No Crude Oil Production Freeze

On the Sidelines of G20, No Crude Oil Production Freeze $OIL, $USO On the sidelines of the G20 Summit now finished meeting in Hangzhou, the Russian and Saudi Arabian Oil ministers met and agreed to create a producers’ group that would meet regularly to monitor the Oil markets. Brent Crude reached a high early of […]

Brexit to Have Little Impact on Saudi and UAE Financial Institutions

Brexit to Have Little Impact on Saudi and UAE Financial Institutions

Brexit to Have Little Impact on Saudi and UAE Financial Institutions Saudi said it had already made some adjustments to assets denominated in Pound Sterling and Euros Saturday, 2  Gulf states said they did not anticipate their financial institutions to be greatly affected as a result of Britain’s vote to leave the EU. Saudi Arabia, […]

Gold and WTI Crude Oil Technical’s (Weekly)

Gold and WTI Crude Oil Technical’s (Weekly)

Gold and WTI Crude Oil Technical’s (Weekly) $GLD, $USO Spot Gold pared most of its weekly losses Friday to close the week at 1,289.00 oz, as slow jobs growth in the US weakened the case for a US rate hike during the US Fed’s upcoming June meeting. The precious Yellow metal is finding support on […]

Wednesday’s Outlook for WTI & Brent Crude Oil

Wednesday’s Outlook for WTI & Brent Crude Oil

Wednesday’s Outlook for WTI & Brent Crude Oil $USO, $OIL Tuesday, Wall Street saw a choppy day, warring between weaker US macro-economic data and firm energy prices. Despite falling early in the day, both DJIA and S&P 500 indices marked gains at the end of the day, adding +0.07% and +0.19% respectively, but the NAS […]

Tuesday’s Technical Outlook for WTI Crude Oil

Tuesday’s Technical Outlook for WTI Crude Oil

WTI Crude Oil Crude Oil prices dove Monday, as during the Oil producers’ meeting in Doha, the OPEC and non-OPEC producers failed to reach an agreement on a a production freeze. WTI Crude Oil futures fell to 37.59 bbl, or over 7% before paring losses and recover some ground on news Kuwait’s Oil production fell […]

Freeze Speculators Hammered, Crude Oil Prices Head Due South

Freeze Speculators Hammered, Crude Oil Prices Head Due South

Freeze Speculators Hammered, Crude Oil Prices Head Due South $USO, $OIL Crude Oil prices seeing a steep fall in early Monday morning Asian trading hours after talks ended in Doha, Qatar with no agreement on capping production, could touch 26 bbl (or lower) near term This is an extremely Bearish scenario with the 1998 lows […]

Any Deal To “Freeze” Crude Oil Production To Have Limited Impact

Any Deal To “Freeze” Crude Oil Production To Have Limited Impact

Any Deal To “Freeze” Crude Oil Production To Have Limited Impact A deal to freeze Crude Oil production by OPEC and non-OPEC producers will have a limited impact on global supply and markets are unlikely to rebalance before Y 2017, the International Energy Agency (IEA) said Friday. The IEA, which oversees the energy policies of […]