From the category 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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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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The Wall Street Journal has a story today about the commodities pullback. They see it as a reason to stop worrying about inflation (not in so many words, but that’s the gist of the story). I think it shows a set-up for the next move higher. History will show who’s right. In the meantime, [...]
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The dollar is running the show, and its rally should weigh on commodities in the short term.
And now some news you can use …
ENERGY
OPEC official says output cuts may be needed An Iranian official in the Organization of Petroleum Exporting Countries said Saturday [...]
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Here’s what I’m reading today …
ENERGY
OPEC May Consider Supply Cut as Oil Stockpiles Rise, Iran Says Oil prices are falling because of an oversupply of crude, and OPEC may consider cutting production at its September meeting to achieve a supply-demand balance while maintaining sufficient excess capacity, Iran’s OPEC governor said.
IEA Raises Forecast for [...]
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Commodities are in retreat (short-term anyway). The longer-term trends are still way up, but the next month or two could see a sizeable pullback if the charts today are any guide.
The problem is charts lie all the time. All it takes is one hot missile in the Middle East to change the whole [...]
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I”m traveling today, but I’ll be back in the office tomorrow. In the meantime, here is some news you might find interesting …
ENERGY
SemGroup Loses Bets on Oil
The collapse this week of SemGroup LP, a little known private oil-marketing firm, may have played a role in crude [...]
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Yesterday, the U.S. dollar rallied hard and gold tumbled. That fall in the yellow metal looks to continue today. Clearly, my short-term outlook for gold –which had been bullish — is subject to change.
Looking at the charts, you can see that the dollar is now back ABOVE former overhead resistance …
While [...]
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The short-term trend in oil is now down.
This is probably due to the fact that the US has decided to make peaceful overtures to Iran and the fact that we are seeing demand destruction here in the U.S. and in other Western nations. However …
* So far, demand destruction is NOT accelerating. [...]
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This is why I hate government most of the time.
According to Reuters, The U.S. Securities and Exchange Commission issued an emergency order on Tuesday placing restrictions on the short selling of shares of certain major financial firms.
Here are 19 stocks where no naked short selling is allowed from July 21 through July [...]
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