Crude Oil There was no report for the past couple of days as the author was traveling. In the midst of a lot of news and action on stocks, currencies and other butterflies fluttering their wings, Brent closed the week at $57.21 /bbl, a gain of 21 cents. WTI too closed $ 53.99 /bbl, up 23 cents. News emanating from the markets suggests that crude will be hard pressed to continue its upward momentum. Bew are…
Read MoreCrude Oil After spending most of the day in the $57.50 to $ 58.25 range, Brent collapsed like a house of cards to finish the day $ 1.35 lower at $55.47 /bbl. WTI too finished similarly lower at $ 52.33 /bbl, down $1.39 /bbl. Various reasons are being given for this huge drop which can be enumerated as Profit Taking on the huge rise at the end of last year Tremendous surge in the…
Read MoreHappy New Year Welcome to 2017. This year, like almost every one, promises to be one of ups and downs. May you ride the climbs and stay smoothly out of the way of crashes this year! Crude Oil Over the last day of the year and the first day this morning, crude prices are rising with the enthusiasm of a market looking forward to a smoothly implemented production cut. The Brent front month, which settled…
Read MoreHappy New Year Today being the last trading day of the year, we take this opportunity to wish you a very Happy 2017 from Trifecta Consultants. Crude Oil Oil prices barely reacted to the crude build reported by the EIA. Brent fell by 8 cents to close at $ 56.14/bbl. WTI fell a bit more by 29 cents to settle at $ 53.79 / bbl. The apparently lacklustre reaction in Brent could be due to the…
Read MoreCrude Oil Oil prices were stable at current levels. Brent rose by 13 cents to close at $ 56.22/bbl. WTI gained a similar $ 0.16 / bbl to settle at $ 54.06 / bbl. The API reported stock levels as follows Crude +4.2 Million Barrels Gasoline – 2.8 Million Barrels Distillates – 1.7 Million Barrels Interpretation of this data is a bit…
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