• 4 hours The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 21 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 6 days "And this is perhaps the most dangerous kind of government there can be."
  • 2 days Demonising fossil fuels has caused major grid problem in Australia
  • 1 day "...too many politicians believe things that aren’t true." says Robert Rapier
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 3 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 328 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 6 days ESG Topic - "German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing" - ZeroHedge Bloomberg and others
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

Momentum Matters: It’s Time To Ride The Wave

I happened to have dinner this week with a very dear old friend from my days trading crude oil on the floor of the New York Mercantile Exchange.

Ultimately, our conversation turned on our life of trading oil, and the fascinating experiences we’ve had watching oil prices gyrate over the past nearly 40 years. We’d seen massive spikes together, equally disastrous crashes and years upon years when oil prices barely moved at all.

And, despite the many years we’d been observers and participants, we struggled to make even a few generalizations – even some small ‘unified theory’ of oil trading that could be confidently relied upon.

We both remembered moments in the past when fundamentals meant everything, and an unexpected draw or build in stockpiles would have an enormous impact on prices. At other times, they could have little to no impact on prices at all, and the EIA (or for us old timers, API) reports could be ignored. For example, global markets ran a million and a half barrel surplus in supply for two years from 2012-2014, but that surplus had zero downwards effect at the time on $100+ barrel oil prices.

Geopolitical tensions could be the only thing that mattered for prices at many points in the past 30 years. Few remember the first time Iraqi bombs fell at Kharg Island, an unknown Iranian refining site, but it caused the first three day limit-up price move in oil. The allied command bombs against Libya in 2011 provide…




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