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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Crude Oil Prices Rise despite US Inventories Report

Crude Oil Prices Rise despite US Inventories Report

An increase in US crude oil inventories did not stop prices from increasing dramatically yesterday. Typically speaking, larger inventories mean that there is decreased demand in the US which causes prices to drop. This was not the case yesterday, as the weakened dollar helped boost commodity prices, including oil. Crude prices jumped over $2, and […] [...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 23, 2010

Cliff Wachtel Oil Analysis – August 23, 2010

Oil rebounded as much as 0.7 percent to top $74 on Monday on a weaker dollar, but prices stayed close to last week’s six-week lows on a combination of lacklustre economic indicators, rising risk aversion and a lack of hurricane activity in the Gulf of Mexico. U.S. crude for delivery in October , the front-month […] [...more]

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