Market Analysis

The lying game

By Phil Flynn | May 1, 2018

Iran lied. Big time. Crude oil prices were fading before Israeli Prime Minister Benjamin Netanyahu announced he was going to share “significant development” on the Iranian nuclear deal. That comment turned oil around in its tracks, with a little help from Genscape that showed supply in Cushing, Okla., fell back significantly from the increase they reported last week.

Crude oil risks skewed to downside

By Fawad Razaqzada | May 1, 2018

Crude oil prices have been unable to build on the large gains made during Monday’s sessions. Those gains were driven by increased concerns over the potential restriction of Iranian oil exports after Israeli Prime Minister Benjamin Netanyahu accused Tehran of having a secret plan to build nuclear weapons.

Crude traders take step back

By Phil Flynn | April 30, 2018

Crude oil prices are taking a step back on Monday as an increase in rig counts and a drop-in supply in Cushing, Okla., and a perceived drop in Geo-political risk premium are causing traders to take a step back. The U.S. oil rig count increased by five rigs last week, as U.S. producers are responding to higher prices and demand; but the real reason for weakness in oil may have been the fact that refinery maintenance is slowing the ravenous U. S. appetite for crude oil temporarily.

Morning look: Sterling, dollar & gold

By Lukman Otunuga | April 27, 2018

King Dollar has appreciated against a basket of major currencies ahead of this afternoon’s estimate of first-quarter GDP growth. Seasonal factors are expected to see GDP growth cool in Q1, but this could have little impact on the Dollar’s mojo. With rising U.S. bond yields and expectations of higher U.S. interest rates heavily supporting the dollar, it is likely to hold its own against most majors.

Risk on-risk off and the rising dollar

By Phil Flynn | April 27, 2018

Crude oil prices are staying strong despite a strong dollar and unfolding stories about geopolitical risk. While the risk remains high that President Donald Trump will pull out of the Iranian nuclear accord, talks of peace in the Korean peninsula is shocking the world. A major win for the Trump Administration and for a world that wants peace. Fox Business Network is reporting that North and South Korea on Friday agreed to work on achieving “a nuclear-free Korean Peninsula through complete denuclearization.”

No one knows but Macron

By Phil Flynn | April 26, 2018

Oil is up as the French President shared that idea and said his bet was that President Donald Trump would drop out of the deal because of what he suggested were domestic reasons.

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