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We took a brief hiatus from our weekly series Open Insights to update our oil thesis, but we’re now back to looking at the EIA’s Weekly Petroleum Status Report (“WPSR”). This is for the week of February 7, 2020. EIA reported a crude build of 7.5M barrels, about do...
Naphtha is an important raw material for the petrochemical industry. After five weeks of consecutive decline to the lowest level in 13 months, oil prices finally managed a weekly gain. Brent crude rose to $57.32 per barrel and WTI hit $52.05 per barrel. Oil prices rose as market particip...
On January 8, 2020, the price of nearby NYMEX crude oil futures ran out of steam on the upside at $65.65 per barrel. The high was just 95 cents below the peak price from 2019. Even though the "phase one" trade deal between the US and China appeared to boost optimism over Chinese economic growt...
With four years of experience in reaching consensus among the members of the OPEC+ group of oil exporters, it is not hard to imagine that group extending or deepening such cuts to mitigate the impact of the coronavirus outbreak on the global economy. This was clear during the extraordinary m...
In this article, we examine the significant weekly order flow and market structure developments driving WTI's price action. As noted in last week's WTI Weekly , the primary expectation for this week was for neutral to buy-side activity, barring failure of 49.31s as support. This expectation...
Crude oil futures scored their first weekly gain in six weeks , as investors bet the economic impact of the coronavirus would be short-lived. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P GSCI Crude Oil Total Return Index ETN, Energy stocks news...
The count of active drilling rigs in the U.S. remains unchanged at 790, according to Baker Hughes' latest weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, VelocityShares 3x Long Natural Gas ETN, Energy stocks news, Commodities news, News ...
The International Energy Agency slashes its forecast for global oil demand growth in 2020 by 365K bbl/day to 825K bbl/day, the lowest level since 2011, as the coronavirus outbreak dampens demand in China's oil-hungry economy. More news on: The United States Oil ETF, LP, iPath S&P GSC...
OPEC released its Monthly Oil Market Report (MOMR) for February. It reported that demand for OPEC crude was 30.6 million barrels per day, 1.0 million lower than the 2018 level. It forecasts demand for OPEC crude will be 29.3 million in 2020, about 1.3 million lower than the 2019 level. It ...
The energy sector ( XLE +1.5% ) is easily the top performer in the early going, lifted by a sharp rally in crude oil on speculation that Russia will agree to go along with a production cut that has been proposed by OPEC+. More news on: Energy Select Sector SPDR ETF, Noble Corporation p...
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2024-06-16 21:40:00 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...
2024-05-06 16:26:00 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...
2024-02-27 10:10:00 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...