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Energy & Commodities

Big OPEC-ing deal!

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Posted by Phil Flynn - The PRICE Futures Group

on Thursday, 01 December 2016 11:35

opec4 reuters 4This is a big OPEC’ing deal. While the naysayers said it could not be done, OPEC went ahead and did it anyway. The cartel agreed to cut production by 1.2 million barrels a day(mbd) to 32.5 mbd and has enticed non-OPEC producers to add another 600,000 barrels. Now that the months in making the deal is done, what does this mean for oil as well as the outside market.

Well, first, I don’t think you can doubt OPEC's commitment to making these cuts work. Not only will they have OPEC countries monitor compliance, they will also have an independent group count the barrels. In other words, they will have monitors montoring the monitors. Kuwait, Venezuela and Algeria will be montoring compliance and a disinterested third party will be keeping score of the barrels produced.

....continue reading HERE

 

also: Copper Poised to Surge



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Energy & Commodities

Copper Poised to Surge

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Posted by Pierce Points

on Thursday, 01 December 2016 09:23

imagesWatch For This Africa X-Factor In Copper Prices For 2017

Warnings of a potential surge coming in global copper prices this week. Emerging from a place few observers in the space are focused on.

The southern Africa producing nation of Zambia.

Industry sources in Zambia told Reuters this past week that some big changes are quietly afoot in the copper market here. Triggered by a change in government policy for local smelters.

That’s a new tax reportedly being introduced by the Zambian government on imports of copper concentrates. With officials apparently planning to tax incoming shipments of concentrate at up to 7.5%.

Here’s why that matters for global copper prices.



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Energy & Commodities

Oil Trading Alert: Breakdown and Slide in Crude Oil

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Posted by Nadia Simmons - Sunshine Profits

on Wednesday, 30 November 2016 11:17

Originally published on Nov 29, 2016, 9:35 AM

Trading position (short-term; our opinion): No positions are justified from the risk/reward perspective.

Crude oil gained 2.21% yesterday and came back above $47, but taking a dive today, confirming that closing the long positions yesterday and taking profits off the table was a good idea. Now, the question is how much does today's decline actually change.

Let's take a look at the charts to find out (charts courtesy of http://stockcharts.com).

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Looking at the daily chart, we see that crude oil bounced off the mid-Now lows and climbed above $47, reaching the previously-broken 50-day moving average. We saw similar situation at the beginning of Jul and at the turn of Oct and Nov. In both previous cases, verification of breakdowns preceded further declines, which increases the probability of the realization of our yesterday's outlook:



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Energy & Commodities

Why Mexico’s Oil Reform Is A Huge Opportunity For Investors

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Posted by OIlPrice.com

on Tuesday, 22 November 2016 08:19

a04a820b652572a4c27cfd6ce572fa26

When a massive country de-nationalizes its entire energy sector and opens its oil and gas doors for the first time ever to foreign companies, the opportunities are staggering.

Welcome to the ‘new’ Mexico, and welcome to the early stages of an oil and gas game that will be bigger—from an investor’s perspective—than anything in history.

...continue reading HERE

....related:

Canada Vows To Abandon Coal By 2030

As United States President-elect Donald Trump vows to revive the nation’s waning coal industry, the North American country’s northern neighbor announced new plans to speed up the abandonment of the powerful polluter.

....read more HERE



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Energy & Commodities

Crude oil bears state prices headed lower- Bulls-eye or Rubbish?

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Posted by Sol Palha - Tactical Investor

on Friday, 18 November 2016 04:59

Anxiety is a thin stream of fear trickling through the mind. If encouraged, it cuts a channel into which all other thoughts are drained. Arthur Somers Roche

2015 was a terrible year for oil and it looked like 2106 would even worse; oil dipped below $30.00 and all cockroaches (oops we mean analysts) started to state $10.00 oil was next. When we heard this nonsense, we penned an article titled will the crude oil price crash become even worse in 2016?

What you need to remember is that the oil market tanked suddenly, and this occurred while the Top Analysts were making calls for higher prices. Hence, just as the oil market collapsed when everybody was proclaiming higher prices, oil will probably stabilise sometime in 2016 as everyone expects it to keep crashing. 

In March of 2016, we reiterated our views in this article Mass Psychology predicted crude oil bottom 2016

Notice that the $30.00 price point level has held on a monthly basis. Oil has not closed below this important level on a monthly basis for two months in a row, and this has to be viewed a very bullish development. Our overall view is for crude oil to trend higher with the possibility of trading past the $55.00 ranges. In the face of extreme negativity, oil is reversing, just as it collapsed in the face of Euphoria. A weekly close above 35.00 will set the foundation for oil to trade past the main downtrend line and in doing so send the first signal for a move to the $50 plus ranges.

So what does the future hold in store for oil?

Oil traded as high as $51.34 so we did not fare too shabbily regarding our suggested targets for oil.

Before we continue, it appears less and less likely that oil will trade past $90.00 unless the investment bankers and oil companies collude to boost oil prices artificially. Every few months’ large fields of oil are being discovered; the latest find is in Texas.

One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That is almost three times larger than North Dakota’s Bakken play.

The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,” Walter Guidroz, coordinator for the geological survey’s energy resources program, said in the statement. : Full Story

Countries such as Saudi Arabia who depend almost entirely on oil are going to be in serious trouble. One positive development from this is Saudi will be forced to engage in less mischief; they are one of the biggest exporters of terrorism, and now that their coffers are running dry they are going to face lean times. These are not our views; an article penned in the New York Times strongly supports this line of thinking

The first American diplomat to serve as envoy to Muslim communities around the world visited 80 countries and concluded that the Saudi influence was destroying tolerant Islamic traditions. “If the Saudis do not cease what they are doing,” the official, Farah Pandith, wrote last year, “there must be diplomatic, cultural and economic consequences.Full Story

The chart below was the chart was used in the Jan 2016 article which we referred to at the start of this article. $65.00 represents the high-end target or extreme targets.

Crude oil Jan 2016



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