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Dour FOMC Growth Forecasts Reverse Crude Gains, Energy Traders Turn to Chinese GDP
North American Commodity Update Commodities – Energy Dour FOMC Growth Forecasts Reverse Crude Gains, Energy Traders Turn to Chinese GDP Crude Oil (LS NYMEX) - $76.84 // -$0.31 // -0.40% Through the end of the US session, NYMEX-based crude would settle the day little changed. If we were simply examining the day-to-day close, it would seem that the day was relatively quiet. A look... [Read more]
US Crude Wins its First Positive Performance in Six Days as Equities Struggle to Keep Their Own Gains
North American Commodity Update Commodities – Energy US Crude Wins its First Positive Performance in Six Days as Equities Struggle to Keep Their Own Gains Crude Oil (LS NYMEX) - $72.20 // $0.06 // 0.08% There was a dramatic swing in risk appetite trends through the day Tuesday; and crude would stick to its speculative interest while it tracked out the volatility. Through the Asian... [Read more]
Crude Buffeted by Investor Worry, Chinese Growth Concerns
North American Commodity Update Commodities – Energy Crude Buffeted by Investor Worry, Chinese Growth Concerns Crude Oil (LS NYMEX) - $75.69 // -$2.56 // -3.27% A cumulative drop in risk appetite and building concern over the future of growth would send the energy market tumbling through the European and US sessions Tuesday. For the US-based WTI crude futures contract, the day’s... [Read more]
Negative Investor Sentiment, Mixed Data Leads Crude to Close its Monday Open Gap
North American Commodity Update Commodities – Energy Negative Investor Sentiment, Mixed Data Leads Crude to Close its Monday Open Gap Crude Oil (LS NYMEX) - $77.21 // -$0.61 // -0.78% Looking much like the intraday bearish reversal from Monday, the US benchmark crude futures contract (the NYMEX-based WTI) put in for a close in the red through the end of the New York floor session.... [Read more]
Crude Squanders Early Rally on News China Had Dropped its Peg
North American Commodity Update Commodities – Energy Crude Squanders Early Rally on News China Had Dropped its Peg Crude Oil (LS NYMEX) - $77.32 // $0.14 // 0.18% The big news on the morning – that China had ended a two-year stint fixed rate regime – would not go unnoticed by oil traders. From a speculative perspective, this announcement was interpreted as a sign that capital... [Read more]
Risk Appetite Finds Conviction, Drives Crude to a One-Month High
North American Commodity Update Commodities – Energy Risk Appetite Finds Conviction, Drives Crude to a One-Month High Crude Oil (LS NYMEX) - $75.80 // $1.42 // 1.91% Risk appetite accelerated through Thursday’s active trading sessions; and naturally, the speculative appeal of crude would lead to impressive gains up through the active US session. Taking stock of the commodity’s... [Read more]
A Recovery for Stocks and the Euro Offers Speculative Footing for a Crude Advance
North American Commodity Update Commodities – Energy A Recovery for Stocks and the Euro Offers Speculative Footing for a Crude Advance Crude Oil (LS NYMEX) - $72.22 // $0.78 // 1.09% Looking across the speculative markets Tuesday, risk appetite was visibly recovering the composure it had lost following the warnings of a Hungarian default and the questionable NFP data from this past... [Read more]
An Intraday Reversal in Risk Appetite Salvages Crude from Steep Morning Losses
North American Commodity Update Commodities – Energy An Intraday Reversal in Risk Appetite Salvages Crude from Steep Morning Losses Crude Oil (LS NYMEX) - $69.94 // -$0.27 // -0.38% Beginning in the early Asian session and continuing through to the pre-US open trading hours, crude would pitch into a selling trend that would build in intensity as European liquidity slowly filtered... [Read more]
As Sentiment Trends Cool, Crude Traders Look for Guidance from Growth Prospects
North American Commodity Update Commodities – Energy As Sentiment Trends Cool, Crude Traders Look for Guidance from Growth Prospects Crude Oil (LS NYMEX) - $70.38 // $0.34 // 0.49% While the NYMEX-based crude contract would technically eke out a modest advance for the opening day of the week, the market has essentially passed the day unmoved. In fact, this benchmark energy product... [Read more]
Fears that a Financial Troubles Will Turn into Growth Problems Push Crude Briefly Below $70
North American Commodity Update Commodities – Energy Fears that a Financial Troubles Will Turn into Growth Problems Push Crude Briefly Below $70 Crude Oil (LS NYMEX) - $69.89 // -$1.72 // -2.40% When boiling the energy market down to the speculative tides of crowd behavior, explaining trends and volatility becomes far easier. However, rationalizing the current trend and pace of... [Read more]
