Brent Prices Remain Low With No Supply Cut Expected
Brent crude oil (BNO, quote) remained below $89 on Tuesday as a global supply glut continued to weight on prices.
Futures
Ag Prices Pause As Rain Arrives And Buyers Move In
Last week’s price action for the Ag commodities (DBA, quote), could best be described as a pause, following the long decline of the last few months, as the primary markets of corn, soybean and wheat, finally found some support, moving sideways but with a mildly bullish tone.
Euro Steady Following ECB Meeting
The euro settled below $1.27 on Friday morning after jumping to a seven-month high on Thursday following the European Central Bank’s policy meeting. The common currency traded at $1.2646 at 7:30 GMT after the bank did not suggest that any type of quantitative easing program was on the horizon.
Bears Tighten Their Vice Like Grip On Commodities
Yesterday’s trading session for commodities was an interesting one to say the least, with oil prices slumping, gold prices whipsawing, and silver prices breaking lower with momentum, as the bears continue to maintain a vice like grip on the market.
A Defining Week Ahead for Crude Oil
It’s been a month of congestion and consolidation for crude oil prices, with the commodity driven by a variety of forces, but as we approach the start of October, the market now appears to be building some momentum in preparation of an imminent breakout. However, much will depend on the deep areas of price resistance now directly ahead.
Bumper Crops Continue to Drive Soft Commodities Markets
It was another week of falling prices for soft commodities (DBA, quote) once more, as over supply issues continue to dominate across all the major markets, and clearly evident from the weekly charts. It is the US which sets the price for world markets as the largest exporter, with the US Midwest corn belt set to produce a record harvest for a second year.
Kenya: The Next Big Oil Exporter?
Not even the specter of a spillover of Islamic extremism from Somalia can dampen the atmosphere in Kenya, where commercial oil production is expected to begin in 2016 and discovery after discovery has made this the hottest and fastest-paced hydrocarbon scene on the continent.
Brent Prices Steady Below $97 As Speculation About OPEC Cut Grows
Brent crude oil (BNO, quote) remained below $97 on Thursday as the growing supply glut continued to outweigh concerns about the conflict in the Middle East.
Crude Oil Marks Time, Along With the US Dollar
September’s been an interesting month of price action for oil traders, as the WTI contract (USO, quote) continues to bounce around, driven back and forth by a variety of forces as it continues to consolidate in a narrow range.
For a Clear View On Risk, Check Out the NQ E-mini
As always, whenever there is a market correction, and for whatever reason, the bears take heart, emerging from the undergrowth to call the top of the market once more!