Oil prices rise to 2019 high
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Started by metmike - April 8, 2019, 3:39 p.m.

Oil prices rise to 2019 high as Libya civil war threatens supply – as it happened


Oil prices remain near the five-month highs hit earlier in the day. Brent crude futures hit a high of $70.86 per barrel, with instability in Libya raising the prospect of further supply constraints at the same time that Opec, the cartel of oil-producing nations, has made cuts to production.

By metmike - April 8, 2019, 3:42 p.m.
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Next EIA report out Wedneday at 9:30am

Latest Release Apr 03, 2019    Actual 7.238M     Forecast -0.425M      Previous 2.800M            


Release DateTimeActualForecastPrevious
Apr 03, 2019 10:307.238M-0.425M2.800M
Mar 27, 2019 10:302.800M-1.100M-9.589M
Mar 20, 2019 10:30-9.589M0.309M-3.862M
Mar 13, 2019 10:30-3.862M2.655M7.069M
Mar 06, 2019 11:307.069M1.203M-8.647M
Feb 27, 2019 11:30-8.647M2.842M3.672M

The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than e

By metmike - April 8, 2019, 3:42 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 - April 8, 2019, 3:43 p.m.
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All the energies have historically been very strong at this time of year!


Crude Oil

Rohöl saisonal

By metmike - April 8, 2019, 3:44 p.m.
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By metmike - April 8, 2019, 3:46 p.m.
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A Gas Tax Would Turn Trump into President Donald Macron


By silverspiker - April 8, 2019, 4:48 p.m.
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                                       .....    gone fishn' @ 59-32    ............... dude.... the "houston boys know"  ....

Image may contain: ocean, sky, cloud, beach, outdoor, nature and water

.........building blocks"EXPONENTIAL"...

cover photo, Image may contain: sky, ocean, cloud, outdoor, nature and water

... nice Striper.... we eat good 2 night

Image may contain: one or more people, sky, ocean, outdoor and water

59.32 .... its a (cr)-k-eeper .....

By silverspiker - April 8, 2019, 5:25 p.m.
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....................    dude   .......    somebody has dipped their beak in this ........       SHIRLEY   !!!  

By Jim_M - April 9, 2019, 8:26 a.m.
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Crude prices have set some pretty high expectations for tomorrow's EIA report.  If the API isnt supportive tonight, it could be a blood bath.  I get Libya has its issues, but that is like saying the sun is coming up tomorrow.

Now what Jim?
By Richard - April 10, 2019, 11:51 a.m.
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Another big increase but oil is still holding and is actually up slightly on the day. Oh My . . . .

By metmike - April 10, 2019, 12:35 p.m.
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Agree Richard, this is very impressive price performance!

Latest Release  Apr 10, 2019   Actual 7.029M    Forecast2.294 M      Previous 7.238M

                May Gann Crude Oil (wk)            


                Started by tallpine - April 8, 2019, 9:16 p.m.            





By Jim_M - April 10, 2019, 4 p.m.
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I think it is safe to say that unleaded is pulling crude now.  In addition you have OPEC cutting output and Venezuela collapsing.  Implied demand is also pretty strong.  How many weeks has unleaded has draws....15 now I think?  I'm long some unleaded contracts and will sit back and enjoy the ride I guess.  I'll put my opinions on the shelf for now.  Even with a 7MB build, it's hard to be bearish in the face of a 7+ withdrawal of unleaded and 14-15 weeks of withdrawals.