• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 10 hours Could Venezuela become a net oil importer?
  • 2 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 13 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 19 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 10 hours Gazprom Exports to EU Hit Record
  • 13 hours Why is permian oil "locked in" when refineries abound?
  • 3 hours Oil prices going down
  • 11 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 9 hours Could oil demand collapse rapidly? Yup, sure could.
  • 9 hours Oil Buyers Club
  • 13 hours EVs Could Help Coal Demand
  • 7 hours Saudi Arabia turns to solar
  • 1 day Teapots Cut U.S. Oil Shipments
  • 19 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 41 mins Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 1 day Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
Alt Text

Is Nigeria Moving From Oil Into Gold?

Nigeria is looking to diversify…

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

Trending Discussions

Daily Heating Oil Update - 26.02.13

In the last 2 weeks heating oil prices have collapsed falling by 20 cents gallon. As you can see on the chart above as of this post futures are challenging their 100 day MA; identified by the light blue line. Prices have been above that pivot point for 5 weeks …the last time April futures were under $3.00. There appears to be more downside and I’ve suggested clients tracking energies to use the Fibonacci levels as their objective on any bearish trade. I think it is possible to see a trade 10-15 cents lower but I do not think prices will stay at those levels for any extended period if we even get that low.

I have advised larger more aggressive clients to be looking for bullish trade entries if we see further 3-5% deprecation from current levels. There are several different strategies that one can trade heating oil from, an outright long/short via futures or options or one of my favorites as most readers know is trading your bias in the futures and then selling calls/puts against the futures 1:1. There are relationships that you can trade as well trading Crude oil and RBOB against heating oil.

In a normal trading week inventory reports come out on Wednesday so expect fireworks tomorrow that could dictate the immediate direction. Before putting on any size on bullish trade please do yourself a favor and look at a weekly chart as this is the third consecutive week prices have been in the red and for the last 10 months we’ve been unable to get above the same levels we topped out 2/3 weeks ago. I’m not trying to talk you out of the trade but just trade comfortable size is the message.

Daily Heating Oil - 26.02.13
Click to enlarge.

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.  

By. Matthew Bradbard




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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