From JR Crooks: Just when the bulls began snorting and kicking their way into crude oil, the bears capitalized. That’s because the price of crude oil fell more than 5% from Sept. 28 to Oct. 6.
From Sean Brodrick: I have a very simple and important question from readers, just one of many that are pouring into my office right now: “Exactly why are oil prices heading higher and how can I profit from the rise?”
The ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) was recovering some of its recent losses on Wednesday morning, but many signs are pointing to further losses for oil in the coming weeks.
From John Ross Crooks III: ABC called to invite me to join the next season of “Dancing with the Stars.” Well, no. They didn’t, actually.
Despite ongoing energy market weakness, and a global oil glut with seemingly no end in sight, some of the most successful oil investors in the world are betting on a sharp recovery for crude.
From Corey Rosenbloom: If you wanted some instant volatility in Crude Oil, you got your wish this morning!
From Tyler Durden: Goldman Sachs, which has been pushing for higher oil prices with seemingly daily bullish research reports for the past month, and which underwrote the last Saudi Arabian bond issue and is expected to also manage the Aramco IPO (explaining the bank’s conflict of interest), released a note commeting on the latest development […]
Some OPEC members have begun to discuss the potential for deeper oil production cuts, as oil prices have failed to recover this year despite the cartel’s best efforts to keep crude afloat.
From Mike Burnick: Crude oil futures surged nearly 2% higher last week, trading above $53 a barrel for the first time in over a month. And suddenly, everybody and his brother is bullish on black gold again.
From Tyler Durden: After a sizable build in crude and draw in gasoline overnight from API, WTI and RBOB are lower (legged down on Libya production news).
From Tyler Durden: Just as WTI was trying to record its first increase in 6 days, the latest, March, OPEC monthly report was released which revealed something surprising: while secondary sources claimed that Saudi Arabia production declined by 68kbpd to 9.797mmbpd, according to Saudi’s own numbers, the kingdom ramped up production in February by a […]
From Tyler Durden: While Goldman has been aggressively warning about the upside risks to the market in days most recently over the weekend, so far none other than Dennis Gartman has been proven right with his recent call for a “melt up.”
From Brad Hoppmann: Oil is a popular topic these days. And for good reason.
Leveraged bull oil ETFs surged in early trading Wednesday as headlines around the world indicated that OPEC oil ministers are unanimously in favor of a production cut.
Oil prices were plunging once again on Friday morning, as news of much higher OPEC oil production in October cast doubts over the prospects of a coordinated production cut this month.