Brent Above $107 On Improving Growth Prospects
Brent crude oil (BNO,quote) gained momentum on Wednesday as growth in industrialized countries became more likely. The commodity traded at $107.10 at 6:30 GMT on Wednesday morning.
Oil
Brent Oil Faces Headwinds in 2014
In reviewing the EIA weekly petroleum report, the oil imports figure came in at 6.889 (Million Barrels per Day) for the week ending 01/10/14. This number compared to a year ago 8.030 (Million Barrels per Day) puts a nice cap on the downtrend which really started gaining steam in 2010 onward.
ETF Outlook for Thursday, January 9, 2014 (USO, JO, XRT, TAN)
ETF Outlook for Thursday, January 9, 2014.
Morning Coffee Brief
Well the Fed minutes have come and gone and the worry and hesitance ahead of the release was unwarranted.
Morning Coffee Brief
In today’s Morning Coffee Brief we find yesterday’s U.S. equity markets saw its first day controlled by the bulls on bullish global data most notable from Germany’s export data report. The report indicates export levels not seen since the crisis started in 2008.
Crude oil continues lower, not helped by the fundamentals!
Crude oil continued its bearish tone once again last week, closing the oil trading session on Friday at $94.61 per barrel for the December futures contract. With the fundamental picture now calming, the technical element is taking center stage, and in the last few weeks crude oil has breached several key levels, as outlined in previous posts.
Daily Energy Report
And so the bullish trade returns. The up-down-up-down pattern that has developed over the past week continued yesterday in WTI and cast a positive light on an otherwise neutral-appearing chart. Brent appears similar, but couldn’t get much of a rally going yesterday.
Daily Energy Report
Oil prices may hold within a sideways trading direction this week, as the short-term rally contends with a building bearish divergence on the daily stochastics oscillator.
Daily Energy Report
Oil prices could trade in a mixed direction this week, with a small pullback toward $91.50 possible in WTI. Pressure may be offered by a developing bearish divergence on the stochastics oscillator in both WTI and Brent…
Daily Energy Report
The oil market finally “broke out” from its week-long consolidation range yesterday, but the breakout was anything but impressive. WTI settled in the middle of the day’s trading range while Brent ended near the day’s low. While those settlements provide little in the way of positive forward guidance, other signs are more bullish. Support will be offered from the growing appearance that economic data in Asia and Europe are improving, fresh five-year highs in the S&P 500 yesterday, and weakness in the dollar