• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 6 mins EU has already lost the Trump vs. EU Trade War
  • 11 hours Impeachment S**te
  • 5 hours More dumbed down? re Hong Kong Act of Congress
  • 18 hours 55.00 WTI
  • 1 hour Article: Did Exxon only make $39 Million onshore U.S. last quarter ?
  • 3 hours Visualizing Pennsylvania Oil & Gas Production (Through September 2019)
  • 2 days IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 2 days Crazy Stories From Round The World
  • 4 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 1 day Everything You Need To Know About Trump
  • 3 hours Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 20 hours Water, Trump, and Israel’s National Security
  • 3 days Science: Only correct if it fits the popular narrative
  • 2 days ‘If it saves a life’: Power cut to 1.5 million Californians
  • 1 day Last I Checked
Dan Dicker

Dan Dicker

Dan Dicker is a 25 year veteran of the New York Mercantile Exchange where he traded crude oil, natural gas, unleaded gasoline and heating oil…

More Info

Why Oil Will Stay Strong for Some Time to Come

Egypt is the big topic on oil trader’s minds this week but it really shouldn’t be. Although it’s been tapped as the reason WTI oil has drifted above $100 a barrel, it’s only the last of several financial and geopolitical reasons that have kept oil strong for the past several months despite the shaky performance of just about every other asset class.

And now that the military has asserted itself in Egypt and taken Morsi down from power, there might be a tendency to think that the situation will cool and so will the price of oil, but I don’t believe that.  The commentary on Egypt has been celebratory, but I doubt very much that the Muslim Brotherhood will take their stripping from power easily.  Indeed, even as we watch closely the events in Tahrir Square unfold, we are conveniently forgetting the many other geopolitical tinderboxes in the Middle East and elsewhere continuing to brew.  There’s a newly US-funded resistance in Syria, an Iraq on the brink of civil war, a new government in Libya – even the recent political problems in Brazil might lead to some production issues down the road.

Add this to the financial inputs into the crude price that I speak about so often and have written about in my book and you’ve got a market that even over $100 a barrel has all the risks to the upside. 

As I recommended last week, higher beta Exploration and Production names will fare best in this environment,…




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