• 10 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 ?
  • 2 hours 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
  • 7 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
  • 3 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"
  • 4 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
Editorial Dept

Editorial Dept

More Info

Oil Bears Are Taking Over Control

Brent crude fell back below $59 this week as the world moved on from Saudi production outages and back into its increasingly familiar negative macro funk. Oil is now trading below where it was prior to the drone strikes on Saudi production facilities and we remain amazed that this event- which knocked out 5.7m bpd of supplies- has failed to have any sort of lasting bullish impact on crude prices. For now it seems the negative global economic factors impacting the oil market are simply too strong to allow for any sort of upside risk even in the face of extraordinary unplanned supply outages.

On the macro side, US Dollar strength and poor manufacturing data were the main bearish factors impacting crude markets this week. In economic data the US ISM printed 47.8 for September for its second straight contraction-territory mark and its lowest point in ten years. Further east, China’s August PMI came this week with yet another contraction territory thud at 49.8. Both data points increased anxiety among traders who are anxiously awaiting a trade deal between Washington and Beijing with little reason for optimism.

On the currency side, the US Dollar Index rallied to its highest mark in more than two years as the US Federal Reserve has been slower to cut rates than many of its peers. As a result, President Trump continued to lambast his appointed Fed Chair on Twitter arguing that the strong US Dollar is hurting US manufacturers. He's certainly not wrong that a strong…




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