Crude Oil With very little fresh news to move markets, Brent eased a bit more by $ 0.29 to settle at $ 55.23/bbl and WTI went down by $ 0.54 to settle at $ 52.63 / bbl We present below a couple of extracts from daily and weekly technical charts (source Reuters) of the first Brent future. The daily chart (on the left) shows a…
Read MoreGong Xi Fat Cai! Best wishes for the Chinese New Year. With Singapore shut today for New Year festivities, data on products is restricted to fridays levels. Crude Oil Yesterday, we had very casually predicted a correction in crude oil prices barring any fresh news. Brent duly retracted by $ 0.72 to settle at $ 55.52/bbl and WTI went down by $ 0.61 to settle at $ 53.17 / bbl The market attributed this drop to…
Read MoreCrude Oil Yesterday, we had remarked on the bullish sentiment in the crude oil markets. This was on display today when, in the absence of any bearish news, Brent rose by $ 1.16 to settle at $ 56.24/bbl, up 21 cents. WTI gained $ 1.03 to settle at $ 53.78 / bbl The market apparently took cues from the positive moves in the stock markets. If we are to follow this type of thinking, in the…
Read MoreCrude Oil The bullish sentiment in the market was clearly underlined today when, in the face of what would be considered as extremely bearish data, Brent only lost 36 cents to settle at $ 55.08/bbl, up 21 cents. WTI lost 43 cents to settle at $ 52.75 / bbl We present below some of the DOE stock data information and a small analysis of the situation as we see it. The first thing to note is…
Read MoreCrude Oil The markets seem to be in suspense as to what direction it should be going. Brent settled at $ 55.44/bbl, up 21 cents. WTI gained 43 cents to settle at $ 53.18 / bbl API data stated that Crude oil had built by 2.9 Million Barrels, Gasoline by 4.8 million barrels and Distillates by 2.0 Million Barrels. It is the continued build in Gasoline that has to be a matter for significant concern for…
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