• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 40 mins Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 hours Changing Gazprom ADRs to Russian shares
  • 7 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 5 days "How China Could Send LNG Prices Into The Stratosphere" by Irina Slav
  • 4 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 6 days The Federal Reserve and Money...Aspects which are not widely known
  • 7 days How Far Have We Really Gotten With Alternative Energy
Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Oil Market Forecast & Review 25th October 2013

After several weeks of consolidation, December crude oil futures broke sharply, reflecting the perception that a slowing economy will lead to a drop in demand for oil.

The initial catalyst behind the break was the release of the weaker-than-expected September U.S. Non-Farm Payrolls report. This report was postponed earlier in the month because of the government shutdown which may explain the recent sideways price action. Traders were not willing to play either side of the market until they were sure about the state of the economy.

The jobs report showed that the economy added 148,000 jobs. This was below the estimate of 180,000 new jobs. The unemployment rate did fall, however, from 7.3% to 7.2%. Missing the estimate may have been bullish for Treasury markets and stocks because it likely means the Fed will refrain from tapering its monthly monetary stimulus before 2014, but it was not friendly to the U.S. Dollar. Typically, a weaker dollar triggers increased demand from foreign investors, but under current market conditions, their buying hasn’t been enough to stem the selling pressure from fund traders and speculators.

With the perception that the U.S. economy is sluggish at best and may have been temporarily derailed by the government shutdown and debt ceiling debate, the shorting pressure is likely to continue until the supply and demand situation flattens out.

This week, data from the U.S. Energy Information Administration showed a rise…




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