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Energy & Commodities

Saudi Arabia’s PIF and SoftBank Not Interested in Tesla Buyout

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Posted by Wolf Richter

on Monday, 13 August 2018 11:47

tesdrive

Two often-cited suspects are axed. So where's the "secured" funding supposed to come from?

The whole scheme kicked off when Tesla CEO Elon Musk tweeted during trading hours that he was “considering” taking Tesla private, “Funding secured,” which caused the already ludicrously overvalued shares to spike. Later he added, “Investor support is confirmed.” But no details, no names, no tidbits, not even a tease. Two days earlier, he’d tweeted that “even Hitler was shorting Tesla stock.” CLICK for complete article



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Energy & Commodities

Baltics Want to Pull The Plug On Russian Power

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Posted by Linas Jegelevicius

on Monday, 13 August 2018 11:31

brellt

Into the 29th year as independent states, Lithuania, Latvia and Estonia still have not managed to ride themselves of Russia in one key area: the transmitting of electricity. 

Although the Baltic States have, in recent years, ended their electricity isolation by building new power cables with Finland, Poland and Sweden, for historical reasons, their electricity grid is still operated in a synchronous mode with the Russian and Belarusian system, commonly known as the BRELL ring.... CLICK for complete article



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Energy & Commodities

New York Evicts Internet Provider For High-Speed Failure

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Posted by Michael Kern

on Tuesday, 31 July 2018 11:30

ny

The State of New York is moving to evict its largest internet and cable provider for failing to deliver on fast connection promises that had won it approval two years ago for a merger with Time Warner Cable.

The deal was that rural areas would get high-speed internet access as a result of the merger, but the company—Spectrum (of Charter Communications)—didn’t make it happen on time.... CLICK for the complete article



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Energy & Commodities

Big day for big oil

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Posted by Phil Flynn

on Friday, 27 July 2018 07:37

oil 5Big oil is back, and we have earnings today but so is big LNG. OK, maybe the market for Liquefied Natural gas isn’t big yet but it is going to be. President Donald Trump boasted that “Europe will be a massive buyer of U.S. LNG as they will be able to diversify their energy supply.” Some dismissed the comments as not likely, but those who did are thinking small or not looking at the big picture. In coming generations, the United States will be the LNG supplier to the world.

On Mornings with Maria on the Fox Business Network, Energy Secretary Rick Perry spoke from the opening of the Dominion Energy Cove Point (DECP) LNG Liquefaction project. He pointed out that this was the opening of just the second LNG facility and that there will be four more on the way.

He pointed to phenomenal growth in the industry and pointed out that Europe needs U.S. natural gas as a strategic alternative to Russia. He also set a veiled shot to Europe by saying that Carbon Emissions in the United States fell by 14% because of U.S. natural gas usage even as Trump pulled out of the Paris Climate Accord. He also pointed out that we havephenomenal growth in production. Rick Perry with Maria from Dominion Energy Cove Point (DECP) LNG Liquefaction project points out that the United States will be a reliable supplier. Russia halted Natural gas exports as a political weapon in the past, so Europe is making a smart move getting ready to be a big buyer of U.S. LNG.

The EIA reported that working gas in storage was 2,273 Bcf as of Friday, July 20, 2018, according to EIA estimates. This represents a net increase of 24 Bcf from the previous week. Stocks were 705 Bcf less than last year at this time and 557 Bcf below the five-year average of 2,830 Bcf. At 2,273 Bcf, total working gas is within the five-year historical range. Tight range and needs more heat to keep the rally going. Use strength to buy long-term puts.

Look to RBOB for oil support. There seems to be a squeeze on RBOB as we head into expiration with near record demand and supplies are getting too close to the 10 year average.

About the Author

Senior energy analyst at The PRICE Futures Group and a Fox Business Network contributor Phil Flynn is one of the world's leading market analysts, providing individual investors, professional traders, and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline, and energy markets. His precise and timely forecasts have come to be in great demand by industry and media worldwide and his impressive career goes back almost three decades, gaining attention with his market calls and energetic personality as writer of The Energy Report. You can contact Phil by phone at (888) 264-5665 or by email at pflynn@pricegroup.com. Learn even more on our website at www.pricegroup.com.



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Energy & Commodities

Conflicting Views on Crude Oil

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Posted by Nadia Simmons & Przemyslaw Radomski& Przemyslaw Radomski

on Friday, 27 July 2018 07:22

Recent days were good for oil bulls. Thanks to their action, the price of the commodity came back to around $70 and one of the daily indicators even generated a buy signal. Did the outlook turn to bullish? In our opinion, it didn’t. Furthermore, it seems that a fresh July low is still ahead of us. Why? The answer is quite simple - an analogy to the past.

Let’s take a closer look at the charts below (charts courtesy of http://stockcharts.com).

Technical Picture of Crude Oil

sc-1 y2EioNe

 

Click Chart For Larger Image

Looking at the above chart, we could summarize it with only three words: nothing has changed. Why? Because although crude oil increased a bit, it is still trading under the 38.2% Fibonacci retracement.

Nevertheless, if we draw a few additional lines on this chart, mark technical formations invisible at first glance with their ranges and compare the current situation to something that we have already seen in the past, our chart will become much more interesting. See for yourself.



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