Energy

Petroleum prices rose for a fifth consecutive week as worse than expected long-term damage to both refining and production assets in the US Gulf coupled with the inability of OPEC+ to increase production overshadowed any concerns related to... more

Energy prices increased for a fourth consecutive week, touching their highest levels since July.
A slow return of production from Hurricane Ida, smaller than expected increases from OPEC+
due to production issues and an IEA monthly... more

In the week following the worst hurricane in the US Gulf Coast in the last 16 years, Crude and product market prices are conspicuously void of trends. The bullish effect of the loss of approximately 21 MB of Crude production due to Hurricane Ida... more

Hurricane Ida, a category four storm with winds exceeding 145 MPH, made landfall last Sunday in eastern Louisiana. Most US Gulf oil production, Natural Gas production and more than 2.3 MBPD of refining capacity were affected. Slow recovery of... more

In a stunning reversal, petroleum prices recovered all of last week's price plunge plus an additional 2 to 3%. Diminishing COVID-19 concerns and clear signs of recovering demand from the US, China and India, further aided by a weakening dollar,... more

I love creating sayings that drive home truths in technical analysis. One of my favorites has always been:

“First test good,

second okay,

third go the other way.”

So, what does it means? It means that the first test... more

Petroleum prices plunged more than 8% this week, their largest weekly loss in more than nine months. Prices have fallen for seven consecutive days and are at their lowest level since May 20th. The last time WTI fell for seven consecutive trading... more

Petroleum prices ended the week mixed as the monthly IEA report warned of slowing demand growth linked to the ongoing resurgence of COVID-19 delta variant cases which reached six-month highs in the US. OPEC in its monthly report left its demand... more

The likely growing impact on demand from a serious resurgence of the delta variant of COVID-19 propelled petroleum prices to their largest weekly drop since the week of October 2nd , 2019. Reinstituted restrictions particularly in China, the... more

Petroleum prices gained for a second week in four and ended July positive for a fourth consecutive month. Easing concerns regarding the delta variant of the COVID-19 virus, an ongoing and accurate perception of an expanding global supply deficit... more