Futures market

The Golden Conspiracy

"Is there gold price manipulation going on? Absolutely. There’s no question about it. That’s not just an opinion... Now, where is the manipulation coming from? There are a number of suspects but you need look no further than China. "

Lower 48 Production Nears Cycle Highs As Rig Count Rises For 18th Straight Week

While much was made of this week's drop in US crude production, it was driven by an Alaskan supply drop, not the Lower 48 whose production is at Aug 2015 highs. WTI back above $50 on the back of more OPEC jawboning appears to have everyone convinced this time is different, but for the 18th week in a row US oil rig counts rose (by 8 to 720).

Do Saudi Arabia And Russia Really Want Higher Oil Prices?

The Saudis and the Russians want to appear as though they are "doing something" about low oil prices. But they and their fellow producers simply aren't doing enough to push prices higher. And, that may actually suit the Saudis and the Russians just fine.

US Rig Count Rise Continues As Crude Production Hits 20-Month Highs

From the May 2016 lows, the number of US oil rig counts have only declined 3 times and this week was no exception. Up for its 15th week in a row (+9 to 697), its highest level since April 2015, the rig count continues to pull US crude production higher, stymying OPEC efforts at balance, leaving the bullish case for oil fading fast.

Why The Crude Rally Has Fizzled - Part 2

So, why is everyone so bullish? Many oil analysts take as a fait accompli that OPEC-led production cuts thus far are key to balancing the crude market. If this is the case, though, why hasn’t it happened yet?

Stocks Drop After Fed Minutes, Bonds Unchanged

Despite the warning by "some" Fed members that stocks are "quite high", and another even more implicit warning, that the Fed may have to revise its forecast if "financial markets were to experience a significant correction", the market's initial reaction to the Fed's warning was to ignore it, although in recent minutes there has been a modest acceleration to the downside across equity markets.