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Crude oil ends a historic session with October WTI (NYSEARCA: USO ) settling +14.7% to $62.90/bbl, the highest finish for a front-month contract since May 21, and Brent (NYSEARCA: BNO ) settling +14.6% to $69.02/bbl after soaring as much as 19.5%, its biggest gain on record. More ne...
Crude oil prices are near their highs of the day after Saudi Arabia charges Iranian weapons were used to attack its oil installations, dismissing claims of responsibility by Yemen's Houthi rebels, after U.S. intelligence officials reportedly shared information with the Saudis that Iran w...
"No matter whether it takes Saudi Arabia 5 days or a lot longer to get oil back into production, there is but one rational takeaway from this weekend's drone attacks on the Kingdom’s infrastructure - that infrastructure is highly vulnerable to attack," according to analysts at Citi. ...
By Jeffrey Halley Oil futures leapt this morning by over 15% in a knee-jerk reaction to the attack on the Saudi Arabia Abqaiq oil facility over the weekend that notionally, took 5% of the world's supply offline. Brent futures spiked by 20% and WTI futures by 15% despite U.S. President Trum...
By Warren Patterson, Head of Commodities Strategy This past weekend has seen significant attacks on Saudi Aramco facilities, which has led to the disruption of 5.7MMbbls/d of oil production. For now, it is still uncertain how long this disruption will last, but what is clear is that the...
In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last week’s WTI Weekly , the primary expectation for this week was for price discovery higher. This expectation did play out, albeit modestly, as pric...
Investing in crude oil long or inverse ETFs has offered active investors a host of exceptional opportunities this year, and for those who care to take the time to understand the Elliott Wave patterns in crude oil, it will soon be setting up some even more exceptional opportunities over the 12 ...
Drone strikes on the heart of the Saudi oil industry forced the kingdom to shut down half its crude production on Saturday, amounting to a loss of about 5M barrels a day, or roughly 5% of the world's daily production of crude oil, WSJ reports . More news on: Saudi Aramco, The United Sta...
I have been following this issue for many months now, pointing out in a number of articles the likely disconnect between where we expect US oil production to be headed, based on EIA forecasts, and where a number of other indicators suggest we are going for the rest of this year and next. The...
Welcome to the next edition of Oil Markets Daily! US crude storage estimates in recent weeks have hit our estimates almost to the dot. Source: HFI Research Over the last 8-weeks, our average miss has been -0.03 mbbls which is to say we've basically been on the dot with EIA's figures....
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2024-06-02 01:20:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
2024-04-13 16:28:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
2024-03-14 15:36:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...