Brent Prices Lower After Goldman Sachs Trims Forecast
Brent crude oil (BNO, quote) lost momentum on Monday morning after reports that Goldman Sachs had trimmed its forecasts for crude oil prices.
WTI
Is Oil Now Building a Platform of Support?
The last few days have been interesting ones for crude oil (USO, quote) traders, with the commodity mirroring the volatile price action and associated volume profiles of related markets, and suggesting in turn, that we may be approaching a pause, and possible bottom to the current bearish trend.
Crude Oil Marks Time, Along With the US Dollar
September’s been an interesting month of price action for oil traders, as the WTI contract (USO, quote) continues to bounce around, driven back and forth by a variety of forces as it continues to consolidate in a narrow range.
Brent Steady As Iraqi Exports Look Unaffected
Brent crude oil (BNO, quote) was steady just below $114 as worries about a supply interruption in Iraq faded. The commodity traded at $113.78 at 8:50 GMT as investors evaluated whether or not the Middle Eastern nation’s ongoing conflict would escalate further and tighten global supplies.
Commodities (oil) reflect the global tensions
In any escalation of political tension oil and gold are the two key commodities to watch. For oil the breakout and surge higher was largely driven by events in Iraq coupled with supply issues at Cushing, both of which combined to help power the WTI crude oil (USO, quote) contract up to the $107 per barrel price point as evidenced by last Thursday’s wide spread up candle.
Trade Alert – New Position – USO
Option Alert Service Signal New Trade Suggestion
WTI crude oil futures now preparing to break below $100 per barrel
Whilst commodities such as nickel and coffee have been offering longer term investors excellent returns this year, and with soybeans set to join the party with some good rollover returns, crude oil has promised much but delivered little.
GULF COAST PADD 3 The New U.S. Oil Bottleneck
As Cushing supplies decline due to increased logistic options out of the storage hub in the Midwest PADD 2 in Cushing, Oklahoma inventories are rising to elevated levels in the Gulf Coast which eventually will provide the bottleneck and back up oil flows all along the supply and logistics chain.
Crude Oil Rockets on Crimea
Energy bulls are clearly in control this morning especially crude oil bulls. Brent crude (BNO, quote) continues its climb breaking through the $107 level.
Morning Coffee Brief
Well the Fed minutes have come and gone and the worry and hesitance ahead of the release was unwarranted.