Oil Breakout Projects $51.50

crudeoilBillionaires Portfolio:  As we said yesterday, oil on the mend is the key proxy right now for global economic stability.  With that, after closing above $40 yesterday, oil continued its surge today, up 4%.  And global stocks had a good day, up 1% in the U.S.
NYSE:USO April 13, 2016 2:12pm

Art Berman Sees Oil Heading To $16, Will Lead To “Banking Bloodbath”

short-oil-etfTyler Durden:  As Nate Hagens noted, "people think that the economy runs on money but it runs on energy," and as Art Berman details in the following interview how the current oil price collapse represents devaluation from over-investment
NYSE:USO March 2, 2016 2:53pm

Four Days After Predicting Oil Will Double, T. Boone Pickens Sells All Oil Holdings

boone pickensTyler Durden:  Just four days ago, on Monday afternoon, "legendary" oilman T Boone Pickens said that crude has hit bottom at $26 per barrel, and predicting that prices should double within 12 months.
NYSE:USO February 5, 2016 9:13am

Oil Spikes Near $33 After Turkey-To-Invade-Syria Rumor

crudeoilTyler Durden:  Yesterday it was chatter of 6 (non-Saudi) OPEC members agreeing to an emergency meeting (to do what exactly?) that ramped crude (despite dismal production, inventories, and demand data).
NYSE:USO February 4, 2016 10:30am

Oil Dumps’n’Pumps Despite Crude, Gasoline Inventories Surge

crudeoilTyler Durden:  Crude has soared back above $31 as it seems a new bullish narrative around seasonally high crude refining has sparked dreams of demand.
NYSE:USO February 3, 2016 12:46pm

Crude Sinks To Day Lows After Goldman Explains Why No Oil Production Cuts Are Coming

crudeoilTyler Durden:  Moments ago, following last week's torrid crude oil price rebound driven entirely by now-denied hopes of some production cut consensus between oil suppliers, namely Russia and Saudi Arabia, oil halted its four-day rally as weak Chinese manufacturing data added to economic demand concern.
NYSE:USO February 2, 2016 5:01pm

The Truth Emerges: “I Never Thought I Would Wish, Or Pray, For Higher Oil Prices, But I Am”

oil etfsTyler Durden:  This was not supposed to happen. None other than The U.S. Federal Reserve Bank of Dallas, in a research paper released in January, said that: 

Oil Is Crashing After Hedge Fund Bulls Pile In At Fastest Pace Since 2010

crudeoilTyler Durden:  Amid denied rumors of production cuts (and Goldman's dismissal), crude oil prices have jumped "August 2015 Andy Hall squeeze style" to 3-week highs.
NYSE:USO February 1, 2016 3:35pm

WTI Crude Plunges To $31 Handle As Production Cut Gains Entirely Erased

crudeoilTyler Durden:  Denials, Goldman's dismissal, and now Persian Gulf oil producers unsupportive, and Thursday's exuberance is done...

U.S. Crude Inventories Are The Highest Since The Great Depression

oildrumTyler Durden:  In case you were under the impression that oil was stabilizing, we thought this chart might help clarify just how "different" it is this time in the energy complex...
NYSE:DIA January 27, 2016 4:32pm

IEA Warns: The Oil Market Could Drown In Oversupply

crudeoilTyler Durden:  On Monday, we noted with some incredulity that North Dakota Sour - a high-sulfur grade of crude - was briefly going for -$0.50 at the Koch brothers' Flint Hills Resources refining arm.

NYSE:USO January 19, 2016 4:29pm

WTI Tumbles To $43 Handle As Iran ‘Price Cut’ Sparks Supply Surge

short-oil-etfTyler Durden:  Having traded above $46 on Friday, WTI Crude is back to a $43 handle as it appears Iran's price cut, as we detailed here, sparked demand from China and India driving up Iran exports to 1 million barrels per day. 
NYSE:OIL September 14, 2015 12:25pm

Why Crude Oil’s Carnage Has Only Just Begun [United States Oil Fund LP (ETF), United States Brent Oil Fund, LP]

short-oil-etfTyler Durden:   "Summer is when refineries are all running hard, so actual demand for crude is as good as it gets,” notes Citi's Seth Kleinman, London-based head of energy strategy, but U.S. crude futures have lost 30 percent since the start of June,
NYSE:USO August 14, 2015 2:10pm

Is Russia OPEC’s True Target In Oil Price Plunge?

crudeoilThe Silver Bug: Oil prices continue their slide downward, now sitting at $65.27 per barrel. OPEC has successfully in all practical senses “crashed” the oil market, bringing much uncertainty and confusion to the broad general markets.
NYSE:BNO December 8, 2014 11:35am

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