From the monthly archives:
Oil Rises, Heads for Biggest Weekly Gain in Two Months as Storm Shuts Rigs Crude oil headed for its biggest weekly gain in almost two months and natural gas rose as producers evacuated rigs before the arrival of Gustav, forecast to be the largest hurricane in the Gulf of Mexico since Katrina.
U.S. Reviews Its [...]
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Gee, who woulda thought that if you continually poke a bear with a stick, he gets ticked off …
Russia May Cut Off Oil Flow to the West Reports have begun to circulate in Moscow that Russian oil companies are under orders from the Kremlin to prepare for a supply cut to Germany and [...]
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Have a great weekend. Soak up some sun!
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Oil prices are cratering today; I guess investors think the bad news is factored in. I kind of expected this investor reaction, which is why I got my RCE subs out of DIG on Monday, and I’m glad I did.
And it’s not just oil. Bearish news (short-term, anyway) on natural gas continues to roll in. [...]
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That’s my take-away from what I’ve been reading around the web recently — a real conflict of opinion. You know my opinion — I believe we are in a long-term commodity supercycle. But let me show you the stories I’ve found and you can decide for yourselves.
First, I mentioned a couple days ago [...]
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Here is an interesting bit of news …
China Seals $3 Billion Oil Deal With Iraq
Why is that interesting? Because of this story …
Iraq May Abandon Contracts With Other Foreign Companies
The Iraqi government is likely to abandon plans to sign short-term contracts with foreign oil companies, negotiations over which have [...]
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I exited a bullish oil position in Red-Hot Commodity ETFs yesterday because of oil’s lackluster response to Hurricane Gustav. It turns out some traders with long ears may have already heard about the bearish product demand that came out after the market closed yesterday. In short, oil product demand dropped 5.6% in June, more [...]
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Waiting for Gustav Hurricane Gustav grew stronger as it moved on a path projected to take it over Haiti on Tuesday and just south of Cuba on Wednesday, according to the National Hurricane Center. Forecasters say they believe Gustav will strengthen into a “major hurricane” and move into the central Gulf of [...]
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Phil and talk about many things. And while we were talking the new storm in the tropics got its name … Gustav. I suppose Gustav will be knocking on my door sometime next week. Anyway, if you want to listen to me and Phil ramble on, point your browser here.
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Labor Day is around the corner, so we can expect low volume. That should lead to more volatility this week — up, down or both — but it may not count for much in the long term. This is a good week for watching and waiting. [...]
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