Will Algos Push Oil Back To $60?

oildrumTyler Durden:  "Forgive the macros – they know not what they do." That is how Morgan Stanley's Adam Longson begins his note explaining why while risks for oil continue to rise, the "macro rally can persist." Specifically he says that while "oil continues to rise on the back of macro funds,
NYSE:USO April 28, 2016 3:10pm

China Is Hoarding Crude At The Fastest Pace On Record

crudeoilTyler Durden:  In the aftermath of China's gargantuan, record new loan injection in Q1, which saw a whopping $1 trillion in new bank and shadow loans created in the first three months of the year, many were wondering where much of this newly created cash was ending up.
NYSE:USO April 26, 2016 4:00pm

The End Of The Oil Run?

crudeoilTony Daltorio:  For months, oil market bulls breathlessly awaited an oil production freeze between major OPEC and non-OPEC producers.
NYSE:USO April 21, 2016 12:01pm

Russia Crushes ‘Freeze Deal’ Hope – “Doubts Any Agreement Possible In Near Future”

oil etfsTyler Durden:  Despite a denial by the Russians, and now an outright statement that Russia "doubts any freeze deal is possible in the foreseeable future," crude prices are surging as momo algos jump on every headline.
NYSE:USO April 20, 2016 3:43pm

Oil’s Rise May Flip Fed Back To “We Plan To Raise Rates” Script

crudeoilChris Ciovacco:  The Fed stepping in to assist financial markets is not particularly new or surprising but with a dual mandate that includes keeping inflation in check, the central bank’s “bailouts” cannot go on indefinitely.

Iran Is Ready To Flood The World With Oil

oil etfsTyler Durden:  Late last week, just ahead of the Doha meeting, we showed that Iran's existing oil tanker armada which until recently had been on anchor next to the Iranian coast and which according to Windward data was storing as much as 50 million barrels offshore.
NYSE:USO April 19, 2016 4:13pm

Oil Surges As Dollar Tumbles To June Lows; Financial Conditions “Easiest” Since Last Summer

crudeoilTyler Durden:  Whether or not there was a secret "Shanghai Accord" to push the dollar lower, the outcome has been clear: moments ago, the USD as measured by the Bloomberg Dollar spot index just dropped to the lowest level since June 22, long before

Saudi Prince: “No Deal Without Iran; We Are Selling At Every Opportunity”

crudeoilTyler Durden:  In what appears to be a Doha party-pooping statement, Saudi deputy crown prince Mohammed bin Salman stated unequivocally that The Kingdom won’t restrain its oil production unless other producers, including Iran, agree to freeze output at a meeting this weekend in Doha.
NYSE:USO April 18, 2016 12:46pm

Oil Prices: Expect A Sharp Selloff If There Is No Deal In Doha

oil etfsTyler Durden:  Nations representing almost 60%of the world’s oil production will gather in Doha on April 17 to discuss "freezing their output at January levels" in an effort to stabilize prices.
NYSE:USO April 15, 2016 2:08pm

Crude Oil Prices Rise On New Record Low U.S. Rig Count

crudeoilTyler Durden:   With all eyes on Doha this weekend, today's rig count data may have even less signaling power than normal.

Iran’s Massive Oil Fleet Begins To Move: 29 Million Barrels Depart Iran In Past 2 Weeks

crudeoilTyler Durden:  A recurring oil market theme in the past few months has been the speculation that despite its jawboning that it is ready and willing to boost crude production, Iran has had a hard time getting both the funding and the required infrastructure to substantially boost its production to recapture its supply levels last seen before the recent US sanctions.

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

Crude Extends Losses After Bigger Than Expected Inventory Build Trumps Production Slowdown

oil etfsTyler Durden:  After a significant draw the previous week, API reported a large 6.22mm build overnight, now confirmed by DOE with a 6.63mm build.

Even Goldman Says OPEC Doha Meeting Will Be A Dud: “Don’t Expect A Bullish Surprise”

crudeoilTyler Durden:   Two months after speculation and recurring headlines of an "imminent" OPEC meeting to first cut, then merely freeze (at record output levels) oil production, a meeting in which Iran is certain to not comply with any production curbs and the all important Saudis following suit, not even Goldman believes there is any upside from the meeting scheduled for this upcoming Sunday.
NYSE:USO April 12, 2016 11:45am

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