Crude Oil Brent Oct '21 (CBV21)
Crude Oil Brent Futures Market News and Commentary
November WTI crude oil (CLX21) on Thursday closed up +1.07 (+1.48%), and November RBOB gasoline (RBX21) closed up +0.0424 (+2.03%).
Nov WTI crude oil and Nov RBOB gasoline prices on Thursday posted moderate gains, with crude at a 1-1/2 month high and gasoline at a 1-week high. A weaker dollar on Thursday was supportive of energy prices along with strength in stocks, which shows confidence in the economic outlook and is positive for energy demand. Also, concern about tight U.S. crude supplies is bullish for prices after Wednesday's weekly EIA crude inventories fell more than expected to a 2-3/4 year low.
A slow return of U.S. crude production in the Gulf of Mexico is supportive of prices. As of Thursday afternoon, 294,414 bpd (16.2%) of U.S. crude production in the Gulf of Mexico was still offline from Hurricane Ida. The resumption of U.S. Gulf crude production was delayed by last week's landfall of Tropical Storm Nicholas. Meanwhile, Royal Dutch Shell said that it... Read more
- Natural Gas Rallies on Concern About Tight Winter Supplies
October Nymex natural gas (NGV21 ) on Thursday closed up +0.171 (+3.56%). Oct nat-gas prices on Thursday rallied sharply on concern about winter gas supply...
- Crude Closes Moderately Higher on Tight U.S. Supplies
November WTI crude oil (CLX21 ) on Thursday closed up +1.07 (+1.48%), and November RBOB gasoline (RBX21 ) closed up +0.0424 (+2.03%). Nov WTI crude oil...
- So Much for Hawkish Fed
So long – better said (as if it did apply in the first place). If June FOMC showed us anything, it was the power of (cheap) talk. We‘ve gone a long...
- Crude Rallies on Tight U.S. Supplies
November WTI crude oil (CLX21 ) this morning is up +0.80 (+1.11%), and November RBOB gasoline (RBX21 ) is up +0.0060 (+0.29%). October Nymex natural gas...
- Is Crude Breaking Out and Gold Breaking Down?
Actionable fundamental and technical landscape for Crude, Gold, Silver and more . . .
- The DOW Energy Trading Guide (with words of truth from Yogi Berra) – September 23, 2021
Yesterday, our system booked partial profits on CLX length. We are on the sideline in HOV, RBV, and NGV.