It’s possible that OPEC is crying wolf with hints of an output freeze next month in Algiers; but it’s also possible that they are ramping up production to take the sting out of a freeze. This is a delicate balancing act that the Saudis need to play very carefully. The official chatter is that the […]
Archive | energy
Surprise Natural Gas Drawdown Signals Higher Prices Ahead
The U.S. electric power sector burned through a record amount of natural gas in recent weeks, a sign of the shifting power generation mix and also a signal that natural gas supplies could get tighter than many analysts had previously expected. The EIA reported a surprise drawdown in natural gas inventories for the week ending […]
Global Energy Conference Report
I wanted to send a special update regarding the Global Energy Conference I am attending here in Geneva. This is A yearly conference that brings all major players of Petroleum, Natural Gas, Electricity, Power and Renewables Industries together to discuss current challenges and opportunities. Obviously, the big question and discussion is where Crude Oil is […]
Why Is The U.S. Reluctant To Bomb ISIS Oil Fields?
There has been some revealing new information coming out recently regarding the strategy against ISIS. One aspect many find troubling is the apparent failure of U.S. and coalition forces to sufficiently target and destroy oil infrastructure located in ISIS territory, which accounts for a significant portion of the terror group’s annual income. The argument goes, […]
Crude Oil Bulls Gain Technical Momentum, Need to Show More Power
See on the daily bar chart for December Nymex crude oil futures that prices have rebounded from the recent low and the bulls have gained some momentum. See at the bottom of the chart that the Moving Average Convergenc Divergence (MACD) indicator has recently produced a bullish line crossover signal, whereby the thick blue MACD […]
Nymex Crude Oil Sees Bullish Upside “Breakout” this Week
The Nymex crude oil futures market this week popped higher and hit a five-week high–to produce a bullish upside “breakout” from a sideways trading range on the daily bar chart. This is one early clue that crude oil prices could be embarking on a fresh price uptrend. However, the bulls must now confront stiff overhead […]
The End Of An Era: Is The US Petrodollar Under Threat?
Recent trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East. The reasons for the cozier relationship between the two giant powers are, of course, rooted in the […]
Brent Oil falls, but the oil market is still in the balance
The long spell of unrest and civil turmoil in the Middle East has had the commodities markets in flux. Oil and other energies in particular have featured a considerable risk premium as oil-producing nations found themselves in the midst of war and unrest. However there are signs that these major geo-political tensions are being relieved […]
Natural gas – Will Prices Follow the rest of the Complex Lower?
Its official Crude oil and the products have moved lower putting in an interim top in the last two weeks…will natural gas follow suite? As I said in my piece yesterday Crude broke the up-sloping trend line that has been in place all of 2014 and lower trade looks likely. Futures found mild support at […]
Crude Oil Breaks it’s Trend Line
In the last two weeks June Crude oil futures have come down nearly $5/barrel and are presently trading below the $100 psychological level for the first time since 4/8. As of this post the trend line that has been in place for several months is being breached and prices are trading under their 50 day […]