• 13 hours Iraq Begins To Rebuild Largest Refinery
  • 17 hours Canadian Producers Struggle To Find Transport Oil Cargo
  • 19 hours Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 20 hours China's CNPC Considers Taking Over South Pars Gas Field
  • 22 hours BP To Invest $200 Million In Solar
  • 23 hours Tesla Opens New Showroom In NYC
  • 24 hours Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 1 day Venezuela Sells Oil Refinery Stake To Cuba
  • 1 day Tesla Is “Headed For A Brick Wall”
  • 2 days Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 2 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 2 days Goldman Bullish On Oil Markets
  • 2 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 2 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 2 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 2 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 2 days Colombia Boosts Oil & Gas Investment
  • 3 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 3 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 3 days Aramco On The Hunt For IPO Global Coordinators
  • 3 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 3 days India Feels the Pinch As Oil Prices Rise
  • 3 days Aramco Announces $40 Billion Investment Program
  • 3 days Top Insurer Axa To Exit Oil Sands
  • 4 days API Reports Huge Crude Draw
  • 4 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 4 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 4 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 4 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 4 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 4 days Exxon To Start Reporting On Climate Change Effect
  • 5 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 5 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 5 days Forties Pipeline Could Remain Shuttered For Weeks
  • 5 days Desjardins Ends Energy Loan Moratorium
  • 5 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 5 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 5 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 8 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
  • 8 days Mexico Blames Brazil For Failing Auction

Breaking News:

Iraq Begins To Rebuild Largest Refinery

Matthew Bradbard

Matthew Bradbard

I have over 1 decade of experience in the Commodities industry. Managing my own IB for over 5 years and my own CTA for fifteen…

More Info

Daily Crude Oil Update - 09.01.13

Daily Crude Oil Update - 09.01.13

After a near $10 run higher in the last month February Crude oil futures have stalled just under $94/barrel. I think aggressive traders can probe shorts looking for prices to trade a back under $90/barrel in the coming weeks. Traders would get confirmation on a settlement under the 8 day MA; identified by the orange line in the chart above just under $92.50.

Daily Crude Oil

As traders we all know that past performance is not indicative of future results but Crude futures did fail from around these same levels in the Fall before bottoming out mid winter, consolidating and appreciating in recent weeks as one can see…will history repeat itself? I am in the camp that we are in a trading range in Crude for the next several months and  I will be looking to sell near the upper end of the range and buy near the lower end; $86-94/barrel. My preferred way to play Crude in this environment is to place a futures trade with my directional bias and then implement an options strategy as a hedge to manage the trade, for instance be short futures and sell puts 1:1 is my current advice.

In regard to speculators being leery of bearish exposure because the unrest in the Middle East…as long as I can remember there has been a situation that has built in a risk premium so unless there are new developments in the immediate future my stance is Crude has largely shrugged this off. For whatever reason if we see prices get above $95 I will likely cut losses with clients in futures and hopefully the sale of puts will soften the hit a little.

By. Matthew Bradbard

To discuss in more detail this chart or any other you can reach me at: mbradbard@rcmam.com or 954-929-9997

Risk Disclaimer: The opinions contained herein are for general information only and are not intended to provide specific investment advice or recommendations and are not tailored to any specific’s investor’s needs or investment goals.  You should fully understand the risks associated with trading futures, options and retail off-exchange foreign currency transactions (“Forex”) before making any trades. Trading futures, options, and Forex involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change without notice.  Past performance is not necessarily indicative of future results.




Back to homepage


Leave a comment

Leave a comment




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