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Energy & Commodities

Largest New Discovery of Oil in USA - Fed Raises Rates Markets Rally

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Posted by Martin Armstrong - Armstrong Economics

on Thursday, 16 March 2017 10:07

Screen Shot 2017-03-16 at 10.35.19 AMMartin: Another major discovery of oil has been made in Alaska of 1.2 billion barrels. It is the largest find of conventional oil for 30 years on US territory.

The Fed Raises Interest Rates & Markets Rally!

"The Fed’s forecasts have moved in the direction of tightening, and despite what they say publicly, the most serious stimulus is rising stock prices"

....continue reading HERE

 



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Energy & Commodities

New Oil Price War Looms As The OPEC Deal Falls Short

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Posted by OilPrice.com

on Tuesday, 14 March 2017 06:36

fff87196ef7e3e4575b54310caae969eLast November, OPEC orchestrated an impressive feat: corralling all (or nearly all) of its members to sign on to relatively aggressive production cut deal, and then actually convincing everyone to follow through on those reductions beginning in January. OPEC’s estimated 94 percent compliance rate defied the cartel’s own history of cheating and mistrust, and OPEC has taken around 1 million barrels of oil production per day off the market.

They were initially rewarded for this. Oil prices rallied more than 20 percent in the month after the deal was announced and investors and analysts have been mostly bullish on crude prices ever since. But the cuts were not all that they seemed to be for two reasons:

....continue reading HERE

....related:

Why Commodities Could Be on the Verge of a Massive Surge



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Energy & Commodities

Why Commodities Could Be on the Verge of a Massive Surge

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Posted by Frank Holmes - US Global Investors

on Thursday, 09 March 2017 08:14

After finishing 2016 up 25 percent, commodities are getting another boost from bullish investors. Investment bank Citigroup forecasts commodity prices will increase this year on strengthening demand in China and mounting inflation inspired by President Donald Trump’s “America First” policies. Commodity assets under management globally stood at $391 billion in January, up 50 percent from the same time the previous year, according to Citigroup.

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Meanwhile, hedge fund managers significantly raised their bets that copper and oil prices have much further to climb, Bloomberg reported, with net-long positions in the Comex and Nymex markets surging to all-time highs.

Bets on Rising Crude Oil and Copper Prices Surged to Record Highs
click to enlarge

In addition, global manufacturing activity has expanded for the past six straight months, a good sign for commodities demand going forward. As I shared with you earlier in the week, the global purchasing managers’ index (PMI) advanced to a 69-month high of 52.9 in February, with strong showings from the U.S. and eurozone.



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Energy & Commodities

Investors Are Becoming Bullish on Commodities

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Posted by Streetwise Reports

on Wednesday, 08 March 2017 12:59

BullBearUpChart580Dow Jones reported that the S&P GSCI Index, a measure of commodity futures, was up 28% last year: "many commodities have continued to rally this year. Oil and natural-gas prices have soared more than 50% over the past 12 months. Precious metals like silver and materials like lumber have scored big gains in recent weeks."

Citigroup noted, according to Dow Jones, that "commodity assets under management globally rose 7% in January from the previous month to $391 billion, up more than 50% compared with the previous year."

"The Materials Price Index, which tracks oil, metals, lumber and other commodities, closed higher for a record 17 straight weeks before finally falling in the last week of February," Dow Jones reported.

Investors are becoming more bullish on economic growth, hoping that President Donald Trump's $1 trillion infrastructure pledge will come to fruition.

Bloomberg reported that deal-making is starting to pick up in the metals arena: "Transactions announced in the first two months of the year climbed 41 percent to $7.6 billion from a year earlier, according to data compiled by Bloomberg. That's the best start to a year since 2013, before gold and copper entered bear markets. Premiums for the deals announced in February averaged 33 percent, the highest since August, data show."

"Investors poured about $4.9 billion into exchange-traded funds that track materials companies in the three months through March 3, beating funds linked to technology firms, according to data compiled by Bloomberg."

Gold, silver, platinum and palladium futures are up at least 7% this year, Bloomberg noted.

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Energy & Commodities

Is A Second OPEC Cut On The Cards?

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Posted by OilPrice.com

on Wednesday, 08 March 2017 08:11

8ef58d61d17d7426e7c005994381cb80OPEC's coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced at the end of November last year. But resurging U.S. shale has been capping the upside, and Brent has not breached US$58 per barrel. Analysts and experts are now mostly predicting that oil prices will remain below US$60 this year.

The supply-cut deal has so far resulted in a surprisingly high OPEC compliance of more than 90 percent, thanks to the cartel's leader and biggest producer, Saudi Arabia, which has been cutting deeper than pledged. But the market has already priced in this high compliance, and although oil prices jump for a few hours on every report of 'extraordinary efforts' and reassurance that members will strive for 'full conformity', they are stuck in a narrow band, kept in check by U.S. shale and record high inventories in America.



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