|Day's Range||49.77 - 51.02|
Oil analysts may be increasingly uncertain about the outcome of this month’s OPEC meeting, but a close examination of the facts should lead you to only one conclusion
The world’s largest oil-exporting countries hold a lot of sway in global markets, and keeping abreast of their politics is vital for analysts
According to one analyst, oil markets are currently trading on geopolitical fear rather than fundamentals, and there is very little upside left
Victoria Oil & Gas Plc (AIM:VOG), a GBP£80.73M small-cap, operates in the oil and gas industry which has persevered through an extended oil price slump since mid-2014. However, energy-sector analystsRead More...
A little over two years ago, China’s Hainan Airlines flew 156 passengers with the help of cooking oil from Shanghai to Beijing. Now, the same carrier, which is already China’s biggest private airline by both market size and fleet size, flew passengers much further on cooking oil-blended aviation fuel. A Hainan Airlines Boeing 787 carrying…
Investing.com - Oil prices were a bit lower on Thursday, but still remained near their highest level in two-and-a-half years amid optimism that the crude market was well on its way towards rebalancing.
China, already the world’s biggest electric-vehicle market, is now using battery power to fuel cargo shipping as well. A Chinese company has built a 2,000 metric-ton (2,204 tons) all-electric cargo ship, which was launched from the southern Chinese city of Guangzhou in mid-November, according to state-run newspaper People’s Daily. The 70-meter long (229 feet) and…
Crude oil prices edged to two and a half year high on Wednesday, but trades slightly lower on Thursday morning after yesterday’s report revealed that crude showed crude stockpiles fell more-than-estimated and a disruption to a major pipeline in Canada boosted the bullish sentiment. Crude oil stockpiles fell for the first time in three weeks. … Continue reading WTI Crude Oil Daily Analysis – November 23, 2017
Second Estimate GDP numbers will come from the U.K today, and Canada will issue its Core Retail Sales figures. The U.S is celebrating Thanksgiving and Japan is on holiday too. The Euro and Pound gained extensively against the U.S Dollar on Wednesday. Fed Meeting Minutes Stay on Path, Wall Street Remains Optimistic Wall Street turned … Continue reading Pound & Euro Make Big Moves along with Gold
Gold The gold prices continued to trade range-bound during the Wednesday’s session as $1300 level above is a strong resistance zone. The market is expected to remain in the tight range of $1275 and $1300 and break on either side will be very significant for this market. Going forward, this market will remain difficult to … Continue reading Commodities Daily Forecast – November 23, 2017
JKX Oil & Gas plc (LSE:JKX), a GBP£20.42M small-cap, is an oil and gas company operating in an industry which has seen a continued decline in oil prices since 2014.Read More...
Malaysia's Felda Global Ventures Holdings Bhd (FGV), the world's third-largest palm plantation operator, on Thursday forecast a decline in palm oil prices next year on a likely rise in production. It expects crude palm oil prices at 2,500 ringgit to 2,700 ringgit ($607 to $656) per tonne for the first half of 2018, Chief Executive Zakaria Arshad said at a media conference following the company's third-quarter results. FGV is targeting fresh fruit bunch production of 4.3 million tonnes by end 2017, with 2018 output seen at 4.86 million tonnes.
The USDCAD pair crashed lower yesterday on the back of some steady weakness in the dollar during the course of the day. It turned out to be a bad day for the dollar which only got worse after the FOMC minutes were released late in the day. The weakness in the dollar helped to push … Continue reading USD/CAD Daily Fundamental Forecast – November 23, 2017
South Africa's National Union of Mineworkers (NUM) has agreed a three-year wage agreement with coal producers, averting a sector-wide strike that could have impacted power supply, the company said on Thursday. The union reached the agreement, which varies for each coal producer, after saying last month it would call a strike if wage demands were not met by the Chamber of Mines, the body which has been representing several mining firms in pay talks. A strike in the coal sector could affect the nation's power supply, as most of the country's power is generated from the fuel.
Gold prices rose higher on the back of a weak dollar but still they are finding the 1300 region to be a hard one to crack through. We have been saying that the gold prices have been in a consolidation and ranging mode for the past couple of months with little chances of a break … Continue reading Gold Prices Higher on Dollar Weakness
With not much of news around, the bitcoin prices began to consolidate in a steady manner, something which we had pointed out to in our forecast yesterday. The prices trade in the $8200 region and after a bit more consolidation we are likely to see the prices head towards the $8500 region. The bitcoin and … Continue reading Bitcoin and Ethereum Price Forecast – Prices Still in Consolidation
Investing.com - Crude oil dipped in Asia on Thursday as the US heads to a long weekend and traders await word from OPEC on a widely expected extension of crude oil output curbs.
Acacia Coal Limited (ASX:AJC), a AUDA$4.74M small-cap, is an oil and gas company operating in an industry which has endured a prolonged oil price downturn since mid-2014. However, energy-sector analystsRead More...
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures ended higher on Wednesday, tracking buoyant soy oil and ...
Oil settled at a two-year high Wednesday after the shutdown of one of the largest crude pipelines from Canada cut supply to the United States. The restart of the 590,000 barrel-per-day (bpd) Keystone pipeline, shut last week due to a spill, could take several weeks. Operator TransCanada Corp (TRP.TO) has told clients it will cut deliveries on the pipeline linking Alberta's oil sands with U.S. refineries by 85 percent through the end of November.
OPEC will need to extend supply cuts when it meets next week to end years of global oil oversupply, oil ministers from two OPEC members said on Wednesday, just over a week before the group meets to discuss supply policy. The Organization of the Petroleum Exporting Countries, non-member Russia and nine other producers agreed to curb oil output by about 1.8 million barrels per day until March 2018. Top crude exporter Saudi Arabia is lobbying oil ministers to extend output cuts by nine months, sources familiar with the matter said.
Saudi crude exports in September have hit a six-year low at 6.55 million barrels per day, but exports of refined products have significantly increased
A day after the API reported a major draw in crude inventories, the EIA confirmed a draw in crude inventories but reported that gasoline stocks had remained unchanged