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Crude Oil
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January 9, 2017

Crude Oil Prices Brace for OPEC News, Gold Prices May Bounce

Talking Points:

Crude oil prices mark time, bracing for OPEC commentary Gold prices snap 3-day win streak on US wage growth data Cautious Fed-speak may cool bets on steep rate hike cycle

Crude oil prices are marking time in familiar territory as the spotlight turns back to OPEC and the implementation of its output reduction scheme. Cartel members will gather in Abu Dhabi for a variety of conferences throughout the week. Meanwhile, the group’s Secretary General Mohammad Barkindo is embarking on a three-day trip to Kuwait, which chairs the OPEC’s committee monitoring production cuts. This makes for significant headline risk and investors may be [...]

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January 5, 2017

Crude Oil Prices Eye Inventory Data, Gold May Extend Recovery

Talking Points:

Crude oil prices rise, correcting after yesterday’s selloff Gold prices gain as FOMC minutes dent rate hike outlook ISM and ADP may see gold rise further as EIA boosts oil

Crude oil prices turned higher in a move that seemed corrective after yesterday’s sharp selloff. API data showing inventories fell 7.43 million barrels last week probably didn’t hurt either, but much of the day’s advance had already occurred by the time the release crossed the wires.

Gold prices pushed upward as expected following the release of minutes from December’s FOMC meeting. Policymakers seemed far less convinced of the need for [...]

5
 
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January 3, 2017

Crude Oil Prices May Break Deadlock on Inventory Data

Talking Points:

Crude oil prices stall as traders await OPEC deal implementation Weekly API oil inventories data may revive directional momentum Gold prices look to ISM survey data to drive Fed path speculation

Crude oil prices remain rudderless below the $55/barrel figure as markets await news on the implementation of OPEC’s supply cut scheme. In the meantime, the private-sector estimate of weekly inventory flows from API may generate a bit of volatility.

Gold prices have stalled after rebounding to a two-week high in the final days of 2016. The spotlight now turns to December’s US ISM manufacturing survey, which may [...]

8
 
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December 30, 2016

Crude Oil Price Forecast: Early 2017 Volatility Pattern Arises

Talking Points:

Crude Oil Technical Strategy: rising wedge should alert bulls Watch for move to and possibly through key support on early-2017 pull backs Crude inventory gains on DoE data opens up focus on delivered OPEC cuts

A core observation of the current state of the Oil market is that short sellers have been nearly wiped out as we trade near 17-months highs and aggressively bullish options have risen. Naturally, the development of the OPEC and non-OPEC production cut accord in late November through mid-December was critical through this. However, we’re now a week away when the production cuts are going to be verified as they are set to go into effect in the New Year. [...]

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