• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 4 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 18 hours The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 4 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 19 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 1 day Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 5 hours US intel warns China could dominate advanced technologies By NOMAAN MERCHANT October 22, 2021
  • 22 hours "The Hidden Story About California's Container Ship Backlog" via Corbett Report
  • 4 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 15 hours Storage of gas cylinders
  • 3 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
Editorial Dept

Editorial Dept

More Info

A Worrying Trend For Oil Bulls

2019 has been lovely for crude oil bulls. Brent prices increased 54 cents on their first trading day of January beginning a move in which oil rose on 26 of the first 39 trading days of the year. Downside corrections have been minimal and the trend has been clear. Anyone with access to a Buy button could have made money trading oil over the last eight weeks.

And who do we have to thank for this ridiculously simple chart? Our assessment is that OPEC+ production cuts, a dovish US Fed (as well as a dovish global central banking community) and progress towards a US/China trade deal have all played a role in fattening the wallets of anyone who is long oil. Hedge funds have been on a significant buying spree in oil derivatives and on the macro side oil has benefited from a broad risk-on move in which stock markets have screamed higher.

Unfortunately, there’s a puzzling trend in place through the first two months of the year which will have to reverse in order for crude oil to continues its winning ways- bearish DOE data. US crude oil and gasoline stocks have revealed a persistently bearish trend in the last two months of too much supply and not enough demand. The results are seemingly the same each week. Crude oil stocks increase highlighted by a substantial increase of oil in the Cushing delivery hub. Refiner demand growth is less than 1% y/y. Meanwhile gasoline stocks continue to balloon and US gasoline demand and exports have actually decreased versus 2018.

Interestingly,…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News