Oil 11 (Nov 17 - Jan 21)

Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Mon Jan 28, 2019 8:41 am

Oil: 53.69, +0.56.

Hanging on over the 50 day EMA and 5

2.50 support in a weeklong lateral move. Trying to make a break higher from a 9 week inverted head and shoulders that formed after a 2 month selloff.

Source: investment House
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Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Sat Feb 02, 2019 9:36 am

U.S. considers SPR release

The U.S. government is considering a release of oil from the strategic petroleum reserve (SPR), timed with potential outages from Venezuela.

Venezuela has exported roughly 500,000 bpd to the U.S., and because of American sanctions, those volumes are now in jeopardy.

The only problem is that the SPR does not contain heavy crude. Already the market for heavy oil is tight while that for lighter oil is much looser.

Source: Oil & Energy Insider
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Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Fri Feb 22, 2019 3:34 pm

Twelve Empty Supertankers Reveal Truths About Today’s Oil Market

by Firat Kayakiran

The 12 vessels are making voyages of as much as 21,000 miles direct from Asia, all the way around South Africa, holding nothing but seawater for stability because Middle East producers are restricting supplies.

Still, America’s booming volumes of light crude must still be exported, and there aren’t enough supertankers in the Atlantic Ocean for the job. So they’re coming empty.

OPEC members are likely cutting heavier grades while American exports are predominantly lighter.


Source: Bloomberg

https://finance.yahoo.com/news/twelve-e ... 18041.html
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Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Mon Feb 25, 2019 8:33 am

Oil: 57.26, +0.30.

Oil moved up well the past two weeks from a 50 day SMA test.

Moved past the late January recovery high and to the mid-November consolidation price -- where it failed.

Source: Investment House
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Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Mon Mar 04, 2019 8:06 am

Oil: 55.80, -1.42.

Oil continues working laterally over 55, but it also continues the slow trend higher off the December low.

Source: Investment House
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Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Tue Mar 05, 2019 4:19 pm

Here's Why Oil Prices Are Going Higher

Savvy investors should consider oil and oil stocks, which look set to surge.

by Simon Constable

A largely unanticipated cut in oil supplies will send prices for crude oil surging this year.

"Saudi Arabia is now implementing a 'Saudi-first' oil policy, and the market should take seriously OPEC's pull-back on production to support prices after the declines late last year".

Recent sharp reduction in output by the Kingdom from 10.6 million barrels a day in December to a likely 10 million last month.

The figures would indicate a 35% production cutback this month compared to December.
Steep supply reductions of that sort would ultimately lead to skyrocketing oil prices.

If the Iranian waivers don't get renewed then, that will mean another cut in the global oil supply, and hence even higher oil prices.


Source: The Street

https://www.thestreet.com/investing/oil ... yptr=yahoo
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Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Sun Mar 17, 2019 10:41 pm

Oil: 58.52, -0.09.

Broke higher from the range Wednesday, then stalled there into Friday.

Still trending up toward the 200 day SMA at 62.50ish.

Source: Investment House
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Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Wed Mar 20, 2019 10:53 am

OPEC delays decision on cuts

When OPEC announced the production cuts last December, it said that it would review the next steps at a meeting in April.

Now, it appears that the group will push off a decision until the June meeting, at which point there will be more clarity on the Iran sanctions waivers and the impact of the production declines in Venezuela.

Source: Oil Price Intelligence
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Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Mon Mar 25, 2019 8:25 am

Oil: 59.04, -0.94.

Holding up well, closing at the 10 day EMA after a weaker Friday.

Still trending slowly up the 10 day EMA and eyeing the 200 day SMA overhead.

Source: Investment House
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Re: Oil 11 (Nov 17 - Dec 19)

Postby winston » Mon Apr 01, 2019 11:12 am

Oil: 60.14, +0.84.

Still moving laterally over the 10 day EMA and below the 200 day SMA.

Measuring that resistance.

Source: Investment House
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