Archive | energy

Crude oil futures, August 2, 2013

Crude oil – $108 is the Line in the Sand

High to low on the week Crude oil jumped $6/barrel but front month futures failed above $108 just as that level capped upside on 7/19 and again on 7/22. Crude oil fell short of its contract highs by 11 cents and has traded south since. Early support came from upbeat news out of China and […]

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Brent WTI Crude oil Spread

Brent/WTI Crude oil Spread

Buying Brent and selling WTI Crude oil is what will be discussed today. In the September contract this spread is currently trading with Brent carrying a $2.65 premium. Just one week ago we were trading even money in this spread. Every $1 move equates to a $1,000 gain/loss. I’m operating under the influence that we […]

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Natural Gas Futures, July 18, 2013

Natural gas Rockets higher jumping 5%

Natural gas futures are higher by 5% as of this post after the weekly inventory report showed a smaller than expected build in storage levels. The EIA showed storage levels rose by 58 billion cubic feet in the week ending July 12th. Analyst surveyed prior to the #s release had anticipated the report to show […]

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Crude Oil Futures (Daily), July 16, 2013

Crude oil looking for a sharp correction soon

Energy: Higher trade was rejected in Crude oil with futures ending just below $106/barrel. I’m looking for a sharp $4-5 correction very soon. My favored way to play is long Brent and short WTI 1:1. As of this post that spreads in September picked up 30 cents today…a small victory. Trading near $2.50 I expect […]

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RBOB Futures chart, Jul 15 2013 - Reformulated Blendstock for Oxygenate Blending

RBOB, Coming Sticker Shock

September RBOB has appreciated 13% in the last three weeks lifting prices to fresh intra-day highs in Friday’s session trading above the February highs. I see this move in the 9th inning and expect a retracement in the immediate future. This goes hand in hand with my prediction of a trade lower in WTI in […]

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Where is Crude oil headed?

In the last three weeks Crude oil futures have appreciated 15% lifting prices to 14 month highs. Since lows were established on 4/18 prices have advanced nearly 25%. This will not continue at least at this velocity and in fact at the moment I feel prices have gotten ahead of themselves and we could see […]

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Weekly Crude oil – I’m Eating Crow

Crude oil futures have advanced 13% in the last three weeks cutting through the $100 level like a hot knife through butter lifting futures to fresh 14 month highs. I anticipated a probe of this level as seen in previous posts but I did not see this type of acceleration. I was wrong. Much of […]

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Will FOMC bring TAPERING Concerns back for Sequel?

  DATA HIGHPOINTS FOR THE WEEK: — Australia Employment Data.. Bank of Japan rate meeting & announcement..US Treasury Auctions (3, 10, 30 years)..Japan Machinery Orders… US Federal Reserve Meeting Minutes release.. Eurozone, US PPI Data..USDA crop production data. JP Morgan Chase, Wells Fargo earnings release on Friday before Market Open.   Data in italics-high potential […]

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Crude oil – A Failed Break-out

It was a shortened week with the holiday so volumes has been lackluster but to take nothing away from this move as Crude has taken out the $100/barrel level and currently trading at 13 month highs just above $101. As one can see in the chart below futures have traded out of the $10-12 trading […]

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Oil Spikes in aftermarket on surprise supply draw down

* DATA HIGHPOINTS FOR THE WEEK: — Japan Tankan Report…US ISM Manufacturing Data… US, Eurozone PMI Data… Reserve Bank Australia, ECB, Bank of England monetary policy meetings, rate announcements… US, Eurozone Employment Data US MARKET HOLIDAY SCHEDULE -EARLY CLOSES WEDNESDAY JULY 3RD…US MARKETS CLOSED THURSDAY JULY 4TH Data in italics-high potential to influence markets *Tuesday-4:30 […]

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