|Day's Range||51.26 - 52.52|
The Energy Information Administration expects OPEC’s combined crude oil production this year to be 1 million barrels per day lower than in 2018
Building up an investment case requires looking at a stock holistically. Today I've chosen to put the spotlight on Occidental Petroleum Corporation (NYSE:OXY) due to its excellent fundamentals in more Read More...
Oil majors Chevron and Total, along with major Indian refiner Reliance Industries, have joined the blockchain-based platform Vakt, London-based Vakt said on Tuesday. Vakt, already in use by other major trading firms since the end of last year, is the first of many blockchain pilot schemes for commodities trading to go live. The firm was created in 2017 by a consortium that includes oil majors BP and Royal Dutch Shell, Norway's Equinor, global energy trading firms Mercuria Energy Group and Koch Supply and Trading, as well as Gunvor Group.
*OPEC- led supply cuts support crude prices. *Surging U.S. production could erode OPEC efforts. SINGAPORE, Jan 16- Oil prices firmed on Wednesday after climbing about 3 percent in the previous session ...
The OPEC+ cuts and slowing shale growth are likely to tip the scales in oil markets, and among others, Bank of America now sees a small deficit later this year
As the White House compliments itself for significantly reducing Iranian oil exports in the last couple of months, a ‘tough line’ policy on Iran continues to depend on oil prices
Some analysts are worrying about a shortage of heavy crude that would interfere with the operations of Gulf Coast refineries that process more than 50 percent of the world’s heavy crude oil
*China signals more stimulus as economic slowdown deepens. NEW YORK, Jan 15- Oil prices rose about 3 percent on Tuesday, along with world stock markets, supported by China's plan to introduce policies to stabilize a slowing economy, reversing the previous session's losses due to grim data in the world's second-largest economy. "Some of the fears about the economic...
Oil prices rose by roughly 2 percent early on Tuesday, recovering from Monday’s loss which came after China reported weak trade data, signaling that its economic growth could be slowing down
International exchange CME Group has joined forces with Enterprise Products Partners to launch a platform for spot contract trading of U.S. export crude
The biggest shale play in the U.S. is set to pump 3.8 million barrels a day this month, according to Energy Information Administration data. The cartel’s decision to cut its own production has actually thrown a “lifeline” to companies in the U.S. by stabilizing crude prices, according to Saudi Energy Minister Khalid Al-Falih. This is a dark cloud on OPEC’s horizon, but there’s some good news.
Investors need to pay close attention to Ultra Petroleum (UPL) stock based on the movements in the options market lately.
Oil prices rose on Tuesday amid supply cuts by producer club OPEC and Russia, although a darkening economic outlook may soon weigh on growth in fuel demand. Brent crude oil futures were at $59.47 per barrel at 0950 GMT, up 48 cents, or 0.81 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $50.92 per barrel, also up 0.81 percent, or 41 cents.
*HSBC cuts its 2019 Brent price forecast by $16, to $64/ bbl. SINGAPORE, Jan 15- Oil prices rose 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic ...
SINGAPORE, Jan 15- Oil prices inched up on Tuesday amid supply cuts by producer club OPEC and Russia, although the darkening economic outlook capped gains. The Middle East dominated producer club of the ...
China’s weakening economy is driving fears of a global slowdown and now impacting oil markets. The price of crude oil fell 2.1% today. New Data Shows a Cooling Chinese Economy The latest data on Chinese imports and exports, below expectations, dropped the Dow Jones 230 points in premarkets today. The Dow Jones recovered but failed
Global oil markets are already feeling the sting of slowing economic growth from China, but if a trade deal is not reached, the problem could become even more pronounced
What's Impacting Your Energy Portfolio Gain? (Continued from Prior Part) ## Oil’s implied volatility On January 10, US crude oil’s implied volatility was 40%, which was ~25% below its 15-day average. Usually, lower implied volatility might support oil prices. You can see the inverse relationship between oil prices and oil’s implied volatility in the following chart. Since reaching a 12-year low in February 2016, US crude oil active futures have risen ~100.6%. Crude oil’s implied volatility has fallen ~46.8% since February 11, 2016. ## Price forecast On January 11–18, US crude oil futures should close between $49.89 and $55.29 per barrel 68.0% of the time. The forecast is based on crude oil’s implied volatility of 40% and assumes a normal distribution of prices. On January 10, US crude oil February futures rose 0.4% and settled at $52.59 per barrel. The factors that we discussed in Part 1 might pull US crude oil close to this level. Any changes in oil could be a positive development for equity indexes like the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA). The sentiments in the oil and equity markets are often related. In the previous part of this series, we analyzed the relationship between oil and the equity market. ## Impact on ETFs These price limits could be important for oil-tracking ETFs like the ProShares Ultra Bloomberg Crude Oil ETF (UCO) and the United States 12-Month Oil ETF (USL). In the trailing week, US crude oil February futures rose 11.7%, UCO rose 23.5%, and USL rose 10.2%. Browse this series on Market Realist: * Part 1 - President Trump Might End Oil’s Gain * Part 2 - Wall Street’s Sentiments Boosted Energy ETFs * Part 3 - Broader Market Might Have Pushed Oil Higher
The start of 2019 has been an exciting one in oil, with geopolitical risks adding extreme volatility in both the crude and equities markets