Oil 13 (Oct 23 - Dec 25)

[winston]

Oil settles 2% higher on falling US crude stockpiles, rebounds from multi-month lows

Bigger-than-expected draw in US crude stockpiles, even as worries about weak oil demand in China persisted.

US crude stocks fell for a sixth week in a row, dropping by 3.7 million barrels to 429.3 million barrels last week, government data showed, more than analysts’ expectations in a Reuters poll for a 700,000-barrel draw.

Demand is stronger than people thought and overall supplies are tighter.

Lower production at Libya’s 300,000 barrel-per-day (bpd) Sharara oilfield is also adding to concerns about supply shortages.

Source: Reuters

https://www.businesstimes.com.sg/compan ... month-lows

[behappyalways]

America's 'Mini OPEC': Major US Refiners Slash Capacity Amid Global Glut Fears
https://www.zerohedge.com/commodities/a ... glut-fears

[winston]

Oil Is Flashing Buy Right Now

by Jeff Clark

CBOE Crude Oil Volatility Index (OVX)

Last Wednesday, the OVX closed above its upper Bollinger Band. It closed back inside the bands on Thursday. So, we have a new buy signal for oil.

And based on the previous success of this indicator, traders should be looking for higher oil prices in the days and weeks ahead.

Source: Jeff Clark Trader

https://tradesoftheday.com/2024/08/15/o ... right-now/

[behappyalways]

India Surpasses China As Largest Importer Of Russian Oil
https://www.zerohedge.com/commodities/i ... ussian-oil

[behappyalways]

What Sanctions? China Imports Record Amount Of Iranian Oil
https://www.zerohedge.com/energy/what-s ... ranian-oil

[behappyalways]

Oil Rises After OPEC+ Agrees To Delay October Output Hike
https://www.zerohedge.com/markets/oil-r ... utput-hike


Oil Slides Despite Huge Draw Sending Total US Crude Inventories To 2024 Low
https://www.zerohedge.com/commodities/o ... s-2024-low

[winston]

There’s a Huge Buying Opportunity with These Stocks

by Jeff Clark

“Drill baby drill” is the rallying cry of one of the presidential candidates. The other candidate has recently come out in favor of fracking.

So, no matter who wins in November, if we can believe the statements of politicians (admittedly, a big IF), then Big Oil stands to benefit.

Many of the big oil stocks are trading at historically low fundamental valuations. And, they’re deeply oversold on a technical basis.

This is the epitome of a low-risk/high-reward setup.

Traders should be looking to add exposure to the energy sector on any weakness ahead of the U.S. presidential election.

Source: Jeff Clark Trader

https://tradesoftheday.com/2024/09/09/t ... e_vignette

[winston]

Carlyle: Mkts Are Overstating Oil Glut

Jeff Currie, chief strategy officer of Energy Pathways at The Carlyle Group Inc. (CG.US), a private equity giant, said at the Annual Asia Pacific Petroleum Conference that the global markets are overstating the oil oversupply issue, mainly due to excessive pessimism about China's crude oil demand in the face of flat crude oil production in the US, according to CNBC.

Currie explained that base effects and destocking factors exacerbated the weak demand for crude oil in China.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN




http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[behappyalways]

Oil Facing Physical Shortage Crisis: API Crude Draws 9 Of Past 10 Weeks As Cushing Hits Tank Bottoms
https://www.zerohedge.com/geopolitical/ ... -hits-tank

[behappyalways]

OPEC lowered its oil demand outlook for the second time!
Oil prices plummeted to a new low in nearly three years, Brent fell below $70

OPEC二度下調石油需求展望! 油價重挫創近3年新低 布蘭特跌破70美元｜非凡財經新聞｜20240911

https://m.youtube.com/watch?v=zcXMI-1kn_Q