Daily Energy Report
Daily Energy Report – The selloff in oil prices yesterday almost fully unwound the rally made on Monday as the buildup of fear subsided.
Crude oil
Morning Coffee Break
Welcomes to today’s Morning Coffee Break – U.S. markets are coming of the largest single day gains since early September. Depending on which analysts have the airways the move was due to an extreme oversold condition while others point to the growing confidence in a deal to avoid the fiscal cliff.
Morning Coffee Break
Welcome to today’s Morning Coffee Break – U.S. markets are coming off a beaten up week with last week Friday the only trading session to see all 3 index in the green. The Dow Jones Industrial Average loss more than 1,000 points last week with 5 out 6 days to the downside.
Daily Energy Report
Oil prices have held within a roughly $2.50/bbl trading range in the past seven days since the initial post-election $4.27/bbl washout on Nov 7th. While the Israel/Gaza conflict has been supportive for the market, it has only been a factor in the last two days of last week.
Morning Coffee Break
Welcome to today’s Morning Coffee Break – U.S. markets are getting ready for the final session of a losing week. Markets suffered on increasing focus and concern over the looming fiscal cliff. Opinions surrounding the fiscal cliff differ from one extreme to the other.
Daily Energy Report
Oil prices may continue to fall in the near-term, with WTI potentially reaching $80.00 over the next few weeks. December WTI will expire today, and could lead to a similarly lopsided trade as yesterday’s expiration of December Brent.
Daily Energy Report
A mid-morning attack by Israel of a Hamas leader yesterday sent the oil market higher, but unless the tensions escalate in the near-term, we would anticipate prices to continue moving lower
Daily Energy Report
Look for the slow drift lower to continue in the near-term, as worries about the health of the economy and the fiscal cliff dominate. Stocks sold off yesterday on various corporate and European news items, but closed near the bottom of last week’s trading range as well as close to a new four-month low.
Daily Energy Report
Daily Energy Report – The slow drift lower in oil prices should continue in the near-term, as worries grow over the fiscal cliff and the slow rate of economic growth. WTI could fall toward $80.00/bbl over the next few weeks as fiscal cliff negotiations appear likely to continue through the end of the year, U.S. production continues to grow, U.S. inventories remain elevated, and as problems in Europe remain in place
Daily Energy Report
Energy Price Outlook After a sobering week last week, oil prices are expected to be under pressure again in this week’s trade and potentially fall toward $80/bbl in WTI over the next few weeks. The dominant factors should be increased prospects for slow growth in the U.S., uncertainty over the fiscal cliff, events in Europe including Sunday’s vote in Greece, and OPEC’s cut in demand estimates on Friday. The
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