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December Comex High Grade Copper futures settled slightly lower on Friday after giving back earlier gains. Despite four straight losing sessions after a spike into a three-year high on Monday, the market still managed to post a solid gain for the week. Strong hedge fund buying drove copper prices into $3.2595 on October 16, but … Continue reading Comex High Grade Copper Price Futures (HG) Technical Analysis – Likely to Test $3.0930 to $3.0535 Value Zone
WTI Crude Oil The WTI Crude Oil market initially dipped during the week, but then reached towards the $52.50 level above. This is an area that has been resistive in the past, so if we were to break above there, more specifically close above there on a daily timeframe, it’s likely that we would continue … Continue reading Crude Oil forecast for the week of October 23, 2017, Technical Analysis
Investing.com – Crude oil prices settled higher on Friday as political tensions in the Kurdistan region continued to disrupt crude supplies offsetting signs of wavering U.S. demand.
Crude oil prices rebounded on Friday, after initially testing lower levels. This week the EIA reported a larger than expected draw in inventories, but the rising dollar weighed on prices. OPEC has been moving inventories back into balance, and with distillate stocks in the United States near the bottom end of the 5-year range, prices … Continue reading Crude Oil Price Analysis for October 23, 2017
On October 17, 2017, Anadarko Petroleum’s (APC) short interest as a percentage of float was ~2.21%. On January 3, 2017, it was ~2.24%.
At 7:20 AM EST on October 20, the WTI crude oil futures contracts for November 2017 delivery were trading at $50.81 per barrel—a fall of ~0.94%.
Investing.com - Crude oil prices rose on Friday, recovering from the previous session's sharp losses as optimism over the tightening of the market persisted.
By Libby George LONDON (Reuters) - When OPEC agreed to exempt Nigeria from its oil production-restraint deal last year, it knew the country faced a huge challenge in recouping output lost due to militant unrest. As tensions subside and the country pumps closer to normal levels, another dilemma looms for the producer group as it continues efforts to eradicate a price-sapping oil glut - how to count Nigeria's crude output without mixing in condensates. The answer could determine when – and indeed if ever – Nigeria has to cut or curtail oil production, its key source of foreign currency.
Investing.com - Gold prices drifted lower in Asia on Friday with support from physical demand during India's festive season failing to aid sentiment and political risk on the back burner.
By Jessica Resnick-Ault and Ahmad Ghaddar NEW YORK (Reuters) - Oil prices were flat on Friday in see-saw trade, under pressure from weak U.S. demand but drawing support from a sharp decline in Iraqi crude exports due to tensions in the Kurdistan region. U.S. light crude was 10 cents higher at $51.39. Brent crude was up 24 cents at $57.47 a barrel by 11:44 a.m. EST.
Investing.com – Gold prices rose on the Thursday as an uptick in political uncertainty in Spain weighed on risk sentiment while ongoing dollar weakness added to upside momentum in the precious metal.
On the presumption that OPEC's oil-production restraint appears to be working, some exploration companies are well-positioned for upside, Wells Fargo analysts conclude. Analysts Roger D. Read and Lauren ...
Since the beginning of this year, Anadarko Petroleum (APC) stock has mostly been in a downtrend, along with most of the energy stocks.
By Alexandra Ulmer and Marianna Parraga CARACAS/HOUSTON (Reuters) - Venezuela's state-run oil firm, PDVSA, is increasingly delivering poor quality crude oil to major refiners in the United States, India and China, causing repeated complaints, canceled orders and demands for discounts, according to internal PDVSA documents and interviews with a dozen oil executives, workers, traders and inspectors. The disputes involve cargoes soiled with high levels of water, salt or metals that can cause problems for refineries, according to the sources and internal PDVSA trade documents seen by Reuters. The quality issues stem from shortages of chemicals and equipment to properly treat and store the oil, resulting in shutdowns and slowdowns at PDVSA production facilities, along with hurried transporting to avoid late deliveries, the sources said.
December US crude oil (UCO) (USL) (OIL) futures contracts were trading flat at $52.26 per barrel in electronic exchange at 2:20 AM EST on October 19, 2017.
On October 18, natural gas November futures closed at $2.85 per MMBtu (million British thermal units)—3.6% below the last trading session's closing price.
Last week (ended October 13, 2017), the natural gas rig count fell by two to 185, but on a YoY (year-over-year) basis, the natural gas rig count rose 76.2%.
Anadarko Petroleum (APC) plans to release its 3Q17 earnings on October 31, 2017, after the markets close. Its 3Q17 revenue estimate stands at ~$2.4 billion.
In an interview with Bloomberg, Norway’s Energy Minister Soviknes said that he expects strong long-term demand for crude