Oil-liquid energies
10 responses | 1 like
Started by metmike - Jan. 9, 2019, 12:51 p.m.

Oil prices are on the verge of busting above a bullish line in the sand     


"After enduring a withering downturn, crude-oil prices flirted with a closely watched line in the sand that, if breached, could signal further gains ahead."

By metmike - Jan. 9, 2019, 12:53 p.m.
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2019 Oil Market Outlook: OPEC Will Cause Prices To End Up Higher Than Forecast


The Value Portfolio


Oil prices had an interesting 2018. This was especially true starting in early October, when prices began to fall.

Goldman Sachs and others are anticipating weak oil prices in 2019. However, I think that OPEC is unhappy from the events of 2018.

I actually anticipate a stronger 2019 than predicted, with prices getting into the $70 range for Brent by year end.

By metmike - Jan. 9, 2019, 12:54 p.m.
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Oil prices surge 4 percent on Saudi output cuts, US-China trade talks


  • Oil prices rip higher, rebounding sharply on OPEC production cuts and U.S.-China trade talks.
  • Saudi Energy Minister reaffirms that the kingdom's oil production and exports will fall in coming months.
  • Crude futures briefly pared morning gains after data showed a big jump in U.S. fuel stockpiles.
By metmike - Jan. 9, 2019, 12:57 p.m.
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Crude 3 month chart

By metmike - Jan. 9, 2019, 12:57 p.m.
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Heating oil 3 months

By metmike - Jan. 9, 2019, 12:58 p.m.
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Unleaded Gasoline Price Charts: 

3 month          

By metmike - Jan. 9, 2019, 12:59 p.m.
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Here are the gas prices at the pump. 

The National Gas Price Heat Map from GasBuddy:


By metmike - Jan. 9, 2019, 1:01 p.m.
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Weekly US ending stocks of crude oil. 




Weekly ending stocks for unleaded gasoline. 





Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast). 



By metmike - Jan. 9, 2019, 1:03 p.m.
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Here are the latest gas prices across the country:


Why are west coast gasoline prices higher?


The two main reasons are transportation and taxes. Part of the cost of gasoline is what it costs to take refined product and transport it to the end user. Below is a map of the main refineries and pipeline in North America.

You can see that the west coast has a much smaller amount of infrastructure than other parts of the map. As a result, more of your gasoline is refined in places that require it to be shipped by transportation.

The second reason is that the states on the West Coast have used fuel taxes more than the average.

If you add to that state requirements about how the gasoline is blended based on the various state environmental air quality and emissions standards, you can tweak the price again. The addition of MTBE or ethanol seasonally, further adds cost to a gallon.

Both coast tax their gasoline beyond the norm. Add to that in California they require 2 to 3 times as many fuel mixes as any other state which increases the cost again.

By Richard - Jan. 9, 2019, 2:34 p.m.
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Oil to the moon. Long and loving it.

By metmike - Jan. 11, 2019, 2:39 p.m.
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Congrats Richard,

Bit of a pull back.

Oil Enters Bull Market As Shorts Are Wiped Out


Why the stock market is obsessed with oil prices