Archive | Cliff Wachtel

Cliff Wachtel Weekly Oil Analysis – October 4, 2010

Cliff Wachtel Weekly Oil Analysis – October 4, 2010

Oil was steady on Monday after earlier touching a two-month high near $82 on expectations that the slow pace of the U.S. economic recovery will prompt a monetary boost that would spur energy consumption. November U.S. crude fell 1 cent to $81.57 a barrel at 0423 GMT, after touching $81.87 earlier, the highest price since […] [...more]

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Cliff Wachtel Daily Oil Analysis – September 28, 2010

Cliff Wachtel Daily Oil Analysis – September 28, 2010

Oil fell towards $76 on Tuesday, tracking Asian equities lower on lingering concerns about euro-zone debt, which also boosted the dollar.  U.S. crude for delivery in November fell 25 cents to $76.27 a barrel at 0054 GMT, while ICE Brent slid 35  cents to $78.22. U.S. crude oil stockpiles probably fell by 400,000 barrels last […] [...more]

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Cliff Wachtel Daily Oil Analysis – September 24, 2010

Cliff Wachtel Daily Oil Analysis – September 24, 2010

On Friday Oil dropped as investor unease about the economic recovery spread across markets after mixed U.S. employment and housing data, sending equities lower and risk-haven currencies higher. U.S. crude for November  fell 26 cents to $74.92 a barrel in midday. Yet, prices were heading for a weekly gain of more than 1.6 percent, without […] [...more]

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Cliff Wachtel Daily Oil Analysis – September 23, 2010

Cliff Wachtel Daily Oil Analysis – September 23, 2010

Oil was steady below $75 on Thursday after government data showed an unexpected increase in U.S. crude and gasoline stockpiles, ahead of key jobs and housing reports later in the day. The inventory increase last week, despite the eight day-long shutdown of the biggest pipeline shipping Canadian crude to the U.S., reaffirmed views that prices […] [...more]

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Cliff Wachtel Weekly Oil Analysis – September 21, 2010

Cliff Wachtel Weekly Oil Analysis – September 21, 2010

Oil fell in New York as traders sold the October future that expires today after short-term supply concerns dissipated because Enbridge Energy Partners LP started a pipeline supplying the U.S. Midwest. Crude retraced part of its 1.6 percent gain yesterday as traders sold contracts after buying last week to cover the threat of supply disruptions […] [...more]

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Cliff Wachtel Weekly Oil Analysis – September 20, 2010

Cliff Wachtel Weekly Oil Analysis – September 20, 2010

Oil was steady on Monday after dropping 3.7 percent last week as investors remained on the lookout for signs of sustained economic growth in the U.S. ahead of a key Federal Reserve policy meeting. U.S. crude for October, which expires on Tuesday, was unchanged at $73.66 a barrel by 05:30 GMT, while ICE Brent for […] [...more]

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Cliff Wachtel Weekly Oil Analysis – September 12, 2010

Cliff Wachtel Weekly Oil Analysis – September 12, 2010

Despite the International Energy Agency saying that world oil demand would remain tepid, U.S. crude rose 3 percent to hit a four-week high above $76 a barrel on Friday on supply concerns following the shutdown of a major pipeline supplying Canadian oil to the United States and potential for an extended outage. The duct accounts […] [...more]

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Cliff Wachtel Oil Analysis – September 7, 2010

Cliff Wachtel Oil Analysis – September 7, 2010

Market Overview: A classic EU sovereign debt/banking crisis fear inspired risk aversion day, slamming risk assets, especially the EUR. Sparked by a WSJ report that July bank stress tests understated PIIGS bond exposure. This is old new, but comes at a sensitive time as PIIGS seek to sell $80 bln in bonds and their bond […] [...more]

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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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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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