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The CL Crude-analysis Thread


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  #1471 (permalink)
 Aufidius 
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Looking at the daily chart we seem to have a shooting star.


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  #1472 (permalink)
 Aufidius 
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a look at weekly US Crude oil stocks (blue) and production (green) ...




Crude oil prices weekly for the same time frame, not adjusted for inflation or anything...


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  #1473 (permalink)
 Aufidius 
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Oil inventory up 7.8 Million analyst estimate was 4.8 ..

Interesting quote from the EIA inventory report

".....Reserve) increased by 7.8 million barrels from the previous week. At 502.7 million barrels, U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years"

and oil is UP a few dollars on the news ....not sure what to say about that one.


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  #1474 (permalink)
 ron99 
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Aufidius View Post
Oil inventory up 7.8 Million analyst estimate was 4.8 ..

Interesting quote from the EIA inventory report

".....Reserve) increased by 7.8 million barrels from the previous week. At 502.7 million barrels, U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years"

and oil is UP a few dollars on the news ....not sure what to say about that one.

Oil up because dollar index down big.


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 madLyfe 
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ron99 View Post
Oil up because dollar index down big.

also we did drop like .60 before short covering.


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  #1476 (permalink)
 
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 SMCJB 
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Aufidius View Post
Interesting quote from the EIA inventory report

".....Reserve) increased by 7.8 million barrels from the previous week. At 502.7 million barrels, U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years"

For this time of year is significant. Crude stocks normally peak in the spring. Last year crude stocks increased 75 million barrels in the next 3 months, 2 years ago they increased 25 million barrels. In fact in the last 16 years I believe 2003 was the only year stocks didnt increase >20million barrels in the next 3 months.

Brent is now premium again in the front of the curve, with WTI only slightly premium for the second half of the year.


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 WilleeMac 
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Interesting article on /CL, news etc over the past week or so (esp last THU.) Article states that Russia and Saudi Arabia are the two largest exporters.

Also, I think Dudley's comments to MNI helped fan the short covering in /CL today as well as the dump in /ES.

Who knows, folks are walking on pins and needles - waiting for someone/ thing (central bank) to say BOO.

-William

How Russia?s ?verbal intervention? triggered an oil market rebound - MarketWatch

EDIT

Link to Dudley and MNI comments

https://www.reuters.com/article/us-usa-fed-dudley-idUSKCN0VC1M6


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  #1478 (permalink)
 Aufidius 
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Is it just me or are the margin requirements the same now as they were when oil was $100?


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  #1479 (permalink)
 boze man 
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Aufidius View Post
Is it just me or are the margin requirements the same now as they were when oil was $100?

oil volatility is the highest its been since 2008-9


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  #1480 (permalink)
 
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 SMCJB 
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Aufidius View Post
Is it just me or are the margin requirements the same now as they were when oil was $100?

I believed they peaked in Feb'15 at $4900 maintenance but are now down to $4000.


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