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Risk Appetite and Data Support Crudes Surge to New Highs Yet Conviction Does Not Hold
North American Commodity Update Commodities – Energy Risk Appetite and Data Support Crudes Surge to New Highs Yet Conviction Does Not Hold Crude Oil (LS NYMEX) - $81.85 // $0.36 // 0.44% Risk appetite, macro data and supply-and-demand statistics seemed to align for bullish crude traders. Yet despite begin given the fundamental green light (and notably still backed by impressive buying... [Read more]
Risk Appetite and Data Support Crudes Surge to New Highs Yet Conviction Does Not Hold
North American Commodity Update Commodities – Energy Risk Appetite and Data Support Crudes Surge to New Highs Yet Conviction Does Not Hold Crude Oil (LS NYMEX) – $81.85 // $0.36 // 0.44% Risk appetite, macro data and supply-and-demand statistics seemed to align for bullish crude traders. Yet despite begin given the fundamental green light (and notably still backed by impressive... [Read more]
Crude Edges Ever Higher as Momentum Substitutes Fundamental Drive
North American Commodity Update Commodities – Energy Crude Edges Ever Higher as Momentum Substitutes Fundamental Drive Crude Oil (LS NYMEX) - $81.82 // $0.32 // 0.39% There was relatively little for fundamental traders to work with Monday; but that wouldn’t prevent oil from pushing a new eight-week high and closing the gap to the $84 swing high set on January 11th. At this point,... [Read more]
Crude Traders Unable to Exploit Technical Break as Risk Ways the Market Down
North American Commodity Update Commodities – Energy Crude Traders Unable to Exploit Technical Break as Risk Ways the Market Down Crude Oil (LS NYMEX) – $80.39 // -$0.48 // -0.59% Without momentum to step in to support yesterday’s push above $80.50, the active light sweet crude futures contract on the NYMEX would ultimately be led to a corrective move. Therefore, while the... [Read more]
Crude Elicits another Swing of a Tight Range as Risk Trends Clash
North American Commodity Update Commodities – Energy Crude Elicits another Swing of a Tight Range as Risk Trends Clash Crude Oil (LS NYMEX) – $78.81 // -$0.85 // -1.07% Volatility behind oil futures was relatively tame throughout Monday aside from a brief period during the early afternoon hours of the US session. Nonetheless, this short-lived move was momentous enough to span... [Read more]
Speculative Interests Override Inventory Gains to Lift Crude Prices
North American Commodity Update Commodities – Energy Speculative Interests Override Inventory Gains to Lift Crude Prices Crude Oil (LS NYMEX) – $80.17 // $1.31 // 1.66% The fundamental landscape was busy Wednesday. Nevertheless, crude would once again fall back on its correlation to risk appetite trends to establish direction and volatility. While the Asian session was dominated... [Read more]
Volume Recovers along with Bearish Convictions for a Steep Crude Loss Tuesday
North American Commodity Update Commodities – Energy Volume Recovers along with Bearish Convictions for a Steep Crude Loss Tuesday Crude Oil (LS NYMEX) - $79.08 // -$1.23 // -1.53% Following Monday’s relatively restrained level of activity, crude would find conditions far more interesting today. For the market itself, the commodity would report its biggest daily decline since the February... [Read more]
Iran Sanctions Move to the Forefront for Crude Traders as Sentiment Trends Cool
North American Commodity Update Commodities – Energy Iran Sanctions Move to the Forefront for Crude Traders as Sentiment Trends Cool Crude Oil (LS NYMEX) - $80.00 // -$0.06 // -0.07% Looking across the various markets Monday, it was clear that speculative interests were relatively subdued. This alludes to the presence of big-ticket fundamental concerns (the potential Greece default and... [Read more]
Crude Follows Other Capital Markets by Shaking off Fed’s Surprise Stimulus Withdrawal
North American Commodity Update Commodities – Energy Crude Follows Other Capital Markets by Shaking off Fed’s Surprise Stimulus Withdrawal Crude Oil (LS NYMEX) - $79.79 // $0.73 // 0.92% The late session drop from crude yesterday in response to a surprise tightening of the Fed’s monetary policy proved temporary (just as it was for the US dollar). Broad-based risk appetite recovered... [Read more]
Crude’s Climb Tempered by Inventories, Stalled by Fed Hike
North American Commodity Update Commodities – Energy Crude’s Climb Tempered by Inventories, Stalled by Fed Hike Crude Oil (LS NYMEX) - $78.46 // $1.13 // 1.46% Underlying investor sentiment trends passed another day with a mute, bullish bias that would encourage benchmark crude futures prices to a fresh one-month high. Showing just how connected the commodity is to risk appetite; the... [Read more]
