Crude Oil Archive

Crude Oil Falls on Demand Concerns After IEA Lowers Forecast –

[Skip to the end] I’m not sure it falls from end of Q1 levels as I see that as the low point of US GDP and motor fuel consumption for this cycle. This is another example of forecasters not looking to the federal deficits as the drivers of the world economy. And ...Read More

Crude oil inventories falling

[Skip to the end] Higher crude prices means dollars are easier to get overseas and will tend to weaken the dollar. And the talk is higher oil prices will give the Fed more reason to keep rates low as the higher prices tend to slow growth. And don’t immediately impact core price ...Read More

Gasoline consumption up year over year

[Skip to the end] All the way to the bottom of the recession and gasoline demand up year over year. The sell off in price still looks to me like it was all due to the Great Mike Masters Inventory Liquidation triggered by his efforts last summer. Prices are now heading up ...Read More

China crude drop only 8%

[Skip to the end] Not nearly enough to dislodge the Saudis from being the swing producer and price setter now that the Great Mike Masters Inventory Liquidation has run its course. Beware an even modest recovery that increased crude consumption. China’s Net Crude Imports Decline to Lowest in a Year by Wang ...Read More

Re: Crude oil inventories update

[Skip to the end] (email exchange) Thanks, should be more than enough given the small drop in actual demand. >    >   On Mon, Jan 26, 2009 at 9:59 AM, David wrote: >    >   Tanker tracking suggests an OPEC11 production of 26.1 mbpd in January, >   compared to the target of 24.85 mbpd, with Saudi Arabia, ...Read More

Crude oil inventories

[Skip to the end] The contango in the futures market continues to come in, as does the spread between WTI and Brent. The RBOB contango is also coming in, indicating gasoline supplies are also tightening. This indicates spot supplies are tightening- the OPEC cuts are ‘working’. Most consumption indicators show crude consumption ...Read More

Weakest crude demand report to date

[Skip to the end] Still looks to me the call on OPEC crude will be about the same: CGES: Global oil demand to contract in 2009 CGES,The Centre for Global Energy Studies a leading energy forecasting organization said on Tuesday on its monthly oil report that Global oil demand is likely to ...Read More

Re: CFTC reclassifies crude oil position

[Skip to the end] (An email exchange) >   (3) The reclassified trader is quite a special one: >    >      (a) The reclassified trader has interests in only a few >   commodities (I have highlighted the reclassified ones in the >   chart). >    >      (b) The trader is heavily focused on crude oil. The >   reclassified positions include 330 ...Read More

Wed am recap

Mainstream economics says: Get inflation right and that ‘automatically’ optimizes long-term growth and employment. Adding to demand with a negative supply shock turns a ‘relative value story’ into an ‘inflation story.’ The ECB is following mainstream theory, while the Fed is not. why? The Fed sees looming systemic, deflationary tail risk at ...Read More