Archive | August, 2010

Cliff Wachtel Oil Analysis – August 31, 2010

Cliff Wachtel Oil Analysis – August 31, 2010

Overview: Markets Painted Red. A bounce lower off of resistance on profit taking following Friday’s bounce off of support on bargain hunting and short covering. In sum an indecisive market likely to remain within the past week’s trading ranges until the balance of the abundant top tier calendar events becomes decisively positive or negative enough […] [...more]

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Crude Oil Outlook for August 31st, 2010

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Crude Oil Follows Equities Lower

Crude Oil Follows Equities Lower

Crude Oil (WTI) – $74.13 // $0.57 // 0.76% Commentary: Crude oil’s three-day win streak was snapped on Monday after U.S. equity markets fell almost 1.5% on the day. Crude’s decline was much more modest in comparison; the commodity fell $0.47, or 0.63%, but the sell off is continuing after hours with the commodity down […] [...more]

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Crude Oil Snaps 3-day Win Streak

Crude Oil Snaps 3-day Win Streak

Spot crude oil prices fell yesterday as traders reduced their exposure to risky assets. This snapped a 3-day streak of rising prices for the commodity. Pushing the price of crude oil down were weak equity markets and lackluster consumer data released from the US. The price of spot crude oil fell to $74.05, following an […] [...more]

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Crude Oil Flat Ahead of Plethora of Data

Crude Oil Flat Ahead of Plethora of Data

Crude Oil (WTI) – $75.17 // $0.00 // 0.00% Commentary: Crude oil will attempt to build upon last week’s three-day rally that saw the commodity bounce from a low of $70.76 to $75.59. But, as much of that rally can be attributed to oversold conditions, it will be difficult to repeat such performance, especially given […] [...more]

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Oil Prices Rising on Market Optimism, Growth Forecasts

Oil Prices Rising on Market Optimism, Growth Forecasts

The price of spot crude oil has dipped as low as $71 a barrel this past week. However, as of this morning, news of a speculative drop in safe havens such as the USD and JPY has helped bring commodity prices back up slightly. The price of crude oil has rebounded back above $75 a […] [...more]

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Cliff Wachtel Oil Analysis – August 27, 2010

Cliff Wachtel Oil Analysis – August 27, 2010

Crude oil traded near a six-week low as rising U.S. jobless claims and a contraction in manufacturing added to concern growth in the world’s biggest oil-consuming nation is slowing. Oil, down 1.3 percent this week, fell yesterday after the Labor Department said weekly claims for unemployment benefits climbed to the highest level since November. The […] [...more]

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Crude Oil Awaits U.S. GDP Data

Crude Oil Awaits U.S. GDP Data

Crude Oil (WTI) – $73.09 // $0.27 // 0.37% Commentary: Crude oil advanced for a second session on Thursday, despite a down day for U.S. equity markets. The commodity added $0.84, or 1.16%, and traded quite resiliently throughout the day. Oil was able to take advantage of the upward momentum established in the prior session, […] [...more]

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Crude Oil Rises above $73 a Barrel

Crude Oil Rises above $73 a Barrel

Oil prices extended gains to rise above $73 a barrel Thursday, as regional stock markets advanced and recent sharp losses in crude drew more buyers. Crude has fallen about 11.5% from around $82 a barrel early this month as more evidence of a slowing US economy suggested that demand for oil and gas would remain […] [...more]

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Energy Sector Report: August 25th, 2010

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