On 15th Feb ,We had written :
Archives for: Crude Category
In the end, the strongest month for US equity markets ended with a whimper.
The S&P 500 climbed 5.5 per cent in February, despite moderate declines on Friday, for its best monthly performance since 2011 as investors piled into cyclical sectors geared to an improving US economy.
Consumer discretionary, technology and the materials industries led the advance by the index, each rising more than 7 per cent in February. Energy stocks also rebounded, rising 3.5 per cent, after seven months in which the sector fell by more than a fifth.
A boom in US and intentional oil prices offered a fillip to energy companies, with West Texas Intermediate climbing 2 per cent to $49.29 a barrel. The international equivalent, Brent, soared 17 per cent in February to end at $62.03.
Investors instead unwound their favoured trade of 2014, sending the S&P 500 utility index 7 per cent lower as the Federal Reserve’s first rate rise looms later this year. Electric and gas producers are more sensitive to rate moves than other companies due relative high debt loads. >> Read More
Our Mantra in PANIC ,BUY BUY BUY…………….Stop :3055 on closing basis ,yesterday again told buy at 3060.
Targets were 3175——–3190 level.
Just see ,Now kissed 3175 level…………..!!
Mint Money Every Moment ,Nothing else.Technically Yours/ASR TEAM/BARODA
A supply glut is once again weighing on oil.
The latest snapshot of US crude oil inventories showed they are at their highest level for this time in 80 years.
Inventories climbed 7.7m barrels in the week to February 13, to 425.6mm, according to the Energy Information Administration.
The report follows a 4.87m barrel rise the previous week and topped/missed Wall Street estimates for a 3m rise in oil inventories.
Brent, the international crude benchmark, was down 3.3 per cent to $58.55 a barrel ahead of the report. Meanwhile, WTI prices, the US standard, declined 4.4 per cent to $49.85 a barrel.
The inventory data has clipped a nascent rally driven by a decline in US rig count that has lifted oil prices 25 per cent since their low in mid-January.
The number of rigs drilling for oil in the US has fallen for 10 straight weeks to the lowest level since 2011, spurring hopes that slowing production would ease the glut of supply. But analysts warn that the market reaction to the data has been overblown. >> Read More
API data 19 February 2015 – weekly crude stocks up 14.3million barrels
Hitting oil hard with WTI down more than $1 since the numbers to $50.61.
Expectations would have been for something like 3.05mln barrel build in stockpiles …. so at 14.3 million, much greater. It means tomorrow’s official EIA data is highly likely to show stocks at a fresh record.
The rest of the API data:
- Gasoline stocks up 1.3m vs -0.25m expected in EIA data
- Distillates down 2.7m vs -1.19m expected in EIA data
- Stocks at Cushing up 3.1m barrels
It’s a tough data point to trade because subscribers get it 5 minutes early.
Above is Daily Chart of WTI CRUDE
Look @ the Triangle………………………………2 Days back too Indicated !
Height of Triangle : $ 6.86
Above is Hourly chart of WTI CRUDE
The boom in US oil output that has sent prices tumbling and put America on course to self-sufficiency by the 2030s will run out of steam in coming years, leading to record demand for crude from traditional Opec producers, according to BP.
In its latest long-term energy outlook, the UK-based oil major forecasts rapid growth of so-called “tight” oil supplies, particularly in the US, until the end of this decade.
However, the pace of output growth, which has contributed to a collapse in oil prices, will then slow, paving the way for a recovery in the market share of producers in the Middle East.
The US, it says, is likely to become self-sufficient in oil by the 2030s, having imported some 60 per cent of its total demand as recently as 2005.
It is expected to to turn into a net oil exporter “over the next few years”, causing a dramatic shift in trading patterns as the flow of international crude sales moves increasingly from west to east >> Read More
Silver MCX :From 37120 to 36215 level in hrs only !!
Recommended to Sell CRUDE MCX @ 3260………………….Crashed to kiss 3186 in just 45 minutes of trade !!
As Expected NICKEL ,We Updated in Evening again at 888 level…………Look it crashed to 876 level.
What else u want in life ??Let us KNOW !