• 4 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 7 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 10 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 . . . .
  • 13 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 45 mins EU has already lost the Trump vs. EU Trade War
  • 12 mins More dumbed down? re Hong Kong Act of Congress
  • 16 hours Impeachment S**te
  • 1 hour Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 3 hours Article: Did Exxon only make $39 Million onshore U.S. last quarter ?
  • 23 hours 55.00 WTI
  • 8 hours Visualizing Pennsylvania Oil & Gas Production (Through September 2019)
  • 4 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 1 day Water, Trump, and Israel’s National Security
  • 1 day Everything You Need To Know About Trump
  • 2 hours Last I Checked
  • 2 days IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 2 days Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 56 mins Petroleum Industry Domain Names
  • 1 hour What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?

Breaking News:

China’s Hunger For Coal Is Growing

Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Impending Volatility In The Oil Markets

Trading Screen

This week’s price action in the crude oil market suggests that last week’s huge sell-off may have been a liquidation break or the break designed to drive out the weakest longs. If you recall, prior to the sell-off, hedge fund and money managers were sitting in record long positions in crude oil.

After trading lower earlier in the week, crude oil started to make a comeback and is now in a position to post a major reversal to the weekly chart. This price action suggests impending volatility and investor indecision. Despite last week’s steep sell-off, this week’s response by investors suggests the market may be going through a transition period as the bearish investors battle it out with the bullish speculators.

On one hand, the bullish speculators are placing high hopes on a weaker dollar and OPEC-lead output cuts to underpin prices. Bearish investors are saying that rallies will continue to be capped as long as U.S. crude remains near record levels.

Prices are being supported this week by the U.S. Energy Information Administration’s weekly inventories data which showed supply decrease for the first time in nine weeks, dropping 237,000 barrels from a record high.

The Fed’s less-hawkish monetary policy statement has been pressuring the U.S. Dollar since Wednesday. This seems to be having a positive influence on the dollar-denominated crude oil market because it may be helping to increase foreign demand.

Earlier…




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