• 6 minutes Trump vs. MbS
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes WTI @ $75.75, headed for $64 - 67
  • 6 hours Satellite Moons to Replace Streetlamps?!
  • 4 mins U.S. Shale Oil Debt: Deep the Denial
  • 2 days US top CEO's are spending their own money on the midterm elections
  • 23 hours EU to Splash Billions on Battery Factories
  • 3 hours The Dirt on Clean Electric Cars
  • 6 mins Owning stocks long-term low risk?
  • 1 day The Balkans Are Coming Apart at the Seams Again
  • 6 hours Can “Renewables” Dent the World’s need for Electricity?
  • 2 days Uber IPO Proposals Value Company at $120 Billion
  • 2 days OPEC Is Struggling To Deliver On Increased Output Pledge
  • 2 days 47 Oil & Gas Projects Expected to Start in SE Asia between 2018 & 2025
  • 2 days A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 2 days U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
Alt Text

Goldman Sachs: This Is The Next Big Risk For Oil

Goldman Sachs commodities expert Jeffrey…

Alt Text

Oil Prices Subdued, But For How Long?

Oil prices may have closed…

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

Trending Discussions

Have Oil Prices Stagnated?

Oil Rigs

Two events this week give us some insights on how to trade the oil markets and oil stocks for the next few weeks.

First, there’s been a tremendous financial move in the oil futures market. Most energy hedge funds and other speculative non-commercial traders have been looking at the oil markets in 2017 much as I have – and betting that the OPEC production guidelines and an inevitable re-balancing of global oil supply would lead to a constructive price spike for oil. In CFTC commitment of traders’ reports, we’ve generally seen energy hedge funds with a fairly bullish stance.

Twice in the past year, we’ve seen that those bullish bets were premature and have been very instrumental in causing short-term mini price busts. If you know me, you know that I am keen on the financial inputs to oil prices, often finding them far more important than the fundamentals that underlie them.

In the last week, there’s been a flight from oil – now to the point that oil speculators, while not quite short, are at their lowest ‘long ratio’ levels we’ve seen in 2017, and nearly match those we saw in November of 2016:

(Click to enlarge)

What’s interesting is that those November levels led to a nearly ten-dollar rally in the price of crude last year – it was an important indicator of an entirely technical short squeeze of positions that occurred then, and is in the process of occurring now.

So,…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





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