Tag: energy

Weekly Futures Recap W/Mike Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Grain Futures-- Grain futures were mixed this week in a volatile trade with soybeans higher again for the 5th straight day up 28 cents at 14.83 in early trade only then to sell off tremendously to finish lower by 24 cents for the session closing at 14.31 after hitting a new 5 month high this Friday all due to the fact that the Argentina soybean crop was reduced 5% this week down from 53 MMT all the way to 50 MMT sparking massive short covering and now the large speculators getting long this market to the upside. Last Friday soybeans for the July contract settled at 13.99 having one of its best weekly gains in quite some time while corn futures are still below their 20 & 100 day moving average in the March contract settling at 6.95 last Friday basically unchanged for the trading week in a sideways pattern with major support at the 8 month lows at 6.80 and as I’ve stated in many previous blogs I am bearish the corn and wheat market and the soybean market is extremely choppy with many false breakouts including today. Continue reading "Weekly Futures Recap W/Mike Seery" →

Weekly Futures Recap with Mike Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Energy Futures--- The energy futures had a wild trading week with heating oil the big story after breaking out from 3.10 a gallon a couple weeks back hitting a 3 ½ month high and as I had advised buying the 3 ½ month breakout to the upside now up another 400 points today at 3.2425 in the March contract a gallon hitting an 11 month high up around 800 points for the trading week due to the fact of a big storm hitting New England. Crude oil futures were slightly lower this Friday afternoon down around $2 for the trading week with major resistance at $98 and major support at $95 still stuck in a sideways channel after consolidating after hitting 4 month highs and still trading above its 20 and 100 day moving average. Unleaded gasoline which is been the strongest in the energy sector trading far above its 20 and 100 day moving average consolidating for the week basically trading unchanged this Friday afternoon finishing up over 500 points still at 1 year highs on the fact that demand around the world is increasing tremendously pushing prices up as stock markets are also improving around the world increasing optimism. Continue reading "Weekly Futures Recap with Mike Seery" →

Why My Portfolio Gained 30% This Year: John Stephenson

Posted on by admin

The Energy Report: John, In your last interview, you were pretty optimistic about much higher oil prices. What can you attribute the oil market's recent weakness to? Did everyone just get spooked?

John Stephenson: There was a rumor that the U.S. was going to release strategic petroleum reserves, which would lower prices at the pump and also lower prices in the world market. It would be a temporary fix, because the actual total volume of the reserve is only about a month's worth of U.S. consumption. Nonetheless, it would definitely lower prices. There's some waning of geopolitical risk, and some of that risk rhetoric was positive for oil prices.

The European ban on importing Iranian oil has had a pretty dramatic impact on tightening supply. It's roughly equivalent to when Libya was offline because of its revolution. That same level of production, about 1.5 million barrels (MMbbl) is off the global market now, creating a fairly tight supply picture. Then there is the Israel/Iran nuclear confrontation, which has also driven oil prices higher. Realistically, there's very strong support for oil prices in the $9095 per barrel (bbl) range because one of the big sources of demand for oil has actually turned out to be the Middle East itself, where the producers are becoming their own best customers. They're like drug dealers getting hooked on their own supply, and their consumption growth rates are double those of China. Continue reading "Why My Portfolio Gained 30% This Year: John Stephenson" →

Energy Market Morning Commentray

Posted on by The INO.com Team

October crude oil was higher overnight but remains below the 62% retracement level of this year's decline crossing at 98.22. Stochastics and the RSI are bearish signaling that a pause or short-term top in this summer's rally might be forming. Closes below the 20-day moving average crossing at 94.14 are needed to confirm that a short-term top has been posted while opening the door for additional weakness. If October extends the rally off June's low, the 75% retracement level of this year's decline crossing at 102.50 is the next upside target. First resistance is the 62% retracement level of this year's decline crossing at 98.22. Second resistance is the 75% retracement level of this year's decline crossing at 102.50. First support is the 20-day moving average crossing at 94.14. Second support is the reaction low crossing at 91.97. Continue reading "Energy Market Morning Commentray" →

The Race for Energy Resources Just Got Hotter

Posted on by The INO.com Team

By Marin Katusa, Casey Research

Malaysia's state-owned oil and gas company just made a multibillion-dollar bet that Canada will choose to export its shale gas riches. Even though the odds of securing permission to export liquefied natural gas (LNG) from the Canadian west coast are still pretty poor, the costs of such an endeavor immense, and the timeline in question very long, Petronas is putting $5.5 billion on the table – far more than it has ever spent on an acquisition before – to secure a large foothold in the British Columbia shale gas scene.

It's yet another sign that things are getting serious in the global race for resources. Continue reading "The Race for Energy Resources Just Got Hotter" →