• 3 minutes Why NG falling n crude up?
  • 7 minutes Tesla Battery Day (announcements on technology)
  • 10 minutes America Could Go Fully Electric Right Now
  • 39 mins Kalifornistan, CO2, clueless politicians, climate hustle
  • 23 hours JP Morgan Christyan Malek, report this Summer .. . We are at beginning of oil Super Cycle and will see $190 bbl Brent by 2025. LOL
  • 1 hour Presidential debate will address taxes. Personal and Corp, including International Oil companies that pay little U.S. Income tax using Transfer Pricing.
  • 6 hours Something wicked this way comes
  • 23 hours Jake Gardner from Omaha wrongly charged with murder while protecting his business from rioters. . . . . . Kills himself
  • 1 hour Ilhan Omar connected Ballot Harvester in cash-for-ballots scheme
  • 2 days Amount of Oil Usage in the United States
  • 23 hours Ten Years of Plunging Solar Prices
Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Premium Content

The Oil Rally Is Set To Continue

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures surged to a new high for the year this week. The markets are being underpinned by the OPEC-led production cuts and the U.S. sanctions against Iran and Venezuela, which have helped tighten the global supply. However, Friday’s spike to the upside is likely being fueled by increased demand for risky assets and firmer U.S. Treasury yields, which have dampened concerns over a U.S. recession later in the year. The catalyst behind the price action is the optimism created by the resumption of the trade negotiations between the United States and China.

Strong First Quarter Performance

Crude oil is set to post its biggest first quarter gain in 10-years. Additionally, WTI futures are in a position to rise for a fourth straight week and are set for a first quarter gain of 31 percent. Brent futures are set to post a gain of 27 percent for the first quarter.

CNBC says, “For both futures contracts, the first quarter 2019 is the best performing quarter since the second quarter of 2009 when both gained about 40 percent.”

Trump Makes Feeble Attempt to Stop Rally

The strong gains this quarter may have prompted President Trump to call for OPEC to boost production to lower prices on Thursday.

“Very important that OPEC increase the flow of Oil. World Markets are fragile, price of Oil getting too high. Thank you!” Trump wrote in a post on Twitter.

Trump…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News