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+… more
Energy
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… 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… 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… 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,… 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… 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… 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.… 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… more
Since the May 7th high at $6.38/bu., CME Group December 2021 Corn futures have been trading in a sideways albeit large trading range with the $6.10-$6.38 area as resistance and $5.00-$5.15 area as… more