Matt Smith

Latest articles from Matt

• Oil Prices Pull Higher As Refiners Soak Up Soaring Crude Imports

  Published 26 April 2017 | viewed 13,173 times

  In today's game of rock-paper-scissors from the weekly EIA inventory report, crude inputs were propelled higher (like a rock), blunting the impact of super-strong imports…

• Oil Prices Crash Below $50 On Oversupply Fears

  Published 21 April 2017 | viewed 14,530 times

  Crude is heading lower again, rounding out a downbeat week, as the expectation of an OPEC production cut extension is more than outweighed by an…

• Offshore Crude Backlog Haunts Oil Price Recovery

  Published 20 April 2017 | viewed 16,404 times

  Oil is trying to recover after yesterday's shellacking, but oversupply fears still remain. As rumors and murmurs circulate about an extension to the OPEC production…

• Oil Prices Edge Lower As Imports Keep Inventories Buoyed

  Published 19 April 2017 | viewed 15,792 times

  After a lesser draw than expected to crude inventories, oil is selling off on this third Wednesday in April. As strong imports from the Middle…

• Soaring U.S. Output Keeps Crude Subdued

  Published 18 April 2017 | viewed 9,207 times

  Oil is on the defensive again, retracing from resistance in recent days amid bearish U.S.-centric data of rampant production increases. Despite the Good Friday holiday,…

• Oil Prices Inch Higher Ahead Of Inventory Data

  Published 11 April 2017 | viewed 20,170 times

  Today is national submarine day, and oil prices are trying not to submerge after a recent sustained rally. Today we get the opening gambit from…

• Oil Prices Rise Ahead Of Rig Count Data

  Published 07 April 2017 | viewed 16,917 times

  After oil prices spiked higher overnight amid a U.S. airstrike on Syria, an underwhelming monthly employment report this morning has helped to unravel most of…

• Oil Heads Higher As Iran And Saudi Arabia Draw On Reserves

  Published 06 April 2017 | viewed 26,232 times

  Oil is ticking higher today, as speculators continue to bet on the prospect of the market tightening. As Nonfarm payrolls beckon tomorrow, hark, here are…

• Oil Erases Gains After Inventory Head-Fake

  Published 05 April 2017 | viewed 16,273 times

  The crude complex is feeling charitable today, giving away most of its overnight gains, as last night's bullish API report head-faked the market. As Nonfarm…

• The First Sign Of Tighter Oil Markets Is Finally Here

  Published 03 April 2017 | viewed 28,899 times

  WTI and Brent crude start Q2 in the fifty dollardom, as the market continues to grapple with market rebalancing and OPEC compliance. As the market…

• Oil Prices Spike As Traders Anticipate Bullish Inventory Data

  Published 28 March 2017 | viewed 18,738 times

  Two-hundred and nineteen years to the day after the washing machine was patented, oil prices are continuing to spin around support at the $48 level.…

• Fruitless OPEC Meeting Sees Oil Prices Edge Lower

  Published 27 March 2017 | viewed 16,919 times

  Oil prices are subdued to start the week, as the weekend's compliance meeting has done little to allay oversupply fears. As WTI continues to trek…

• Oil Prices Continue To Face Pressure From Brimming Inventories

  Published 22 March 2017 | viewed 9,310 times

  Crude is heading lower today after a solid build to crude inventories from the weekly EIA inventory report. As U.S. inventories climb to a new…

• Oil Prices Fall As Markets Lose Faith In OPEC Output Cut Extension

  Published 21 March 2017 | viewed 15,215 times

  Crude prices are coming under selling pressure once again, as oversupply concerns dwarf OPEC production cut expectations. As equity markets join oil prices in charging…

• Oil Prices Wait And Watch For OPEC’s Next Move

  Published 17 March 2017 | viewed 18,681 times

  It is quadruple witching day in the markets today, and accordingly, oil prices are scared stiff, hardly budging. Despite it being St. Patrick's Day, prices…

• Oil Wobbles As OPEC Deal Comes Under Scrutiny

  Published 16 March 2017 | viewed 8,738 times

  Oil has got the wobbles after yesterday's rally, giving up gains as the dollar bounces from its lows. As OPEC compliance comes under scrutiny once…

• What Really Caused The EIA Oil Draw?

  Published 15 March 2017 | viewed 23,902 times

  Crude prices are rebounding today, bouncing off the trampoline of price support at $48 for WTI and $50 for Brent. A surprise draw to U.S.…

• EIA And OPEC Send Oil Prices Tumbling

  Published 14 March 2017 | viewed 18,771 times

  The double whammy of yesterday's EIA drilling productivity report - showing rampantly rising shale production next month - combined with a bearish OPEC monthly oil…

• Oil Steadies Itself Ahead Of Big Week

  Published 13 March 2017 | viewed 15,966 times

  And it's shaping up to be another fun week in the crude complex, with OPEC releasing its monthly oil market report on Tuesday, swiftly followed…

• Oil Prices Under Pressure From Record Breaking Inventories

  Published 08 March 2017 | viewed 29,702 times

  As U.S. crude inventories jump to a further record high, prices are chugging lower once again. A backdrop of strong economic data is also helping…