The Permian Pitfall: A Race To The Bottom For Tight Oil

Remember the shale gale and Saudi America? The scale of those outlandish delusions has now dwindled to plays in a few counties in West Texas and southeastern New Mexico. Saudi Permian. It’s a race to the bottom as investors double down on the tight oil companies that can still tell a growth story.

Traders Buy Everything After Fed Minutes Send USD Lower

Despite what seemed somewhat more hawkish than the July Statement, Fed Minutes sparked a dovish reaction sending the USDollar reeling, rate hike odds falling, and in turn bonds, gold, oil, and stocks higher...

Oil Tops $42 As OPEC Headlines Seek To Start Another Short Squeeze

Having plunged yesterday on 'real' excess supply data, WTI crude is rallying this morning - back above $42, NYMEX close dump levels - on the heels of the latest OPEC/NOPEC headline farce on output freezes (the day after Saudis announce record output!!)...

World Stocks Drop For Third Day On Growing Concerns About Central Bank Policy, Tumbling Oil

After 7 consecutive drops in the Dow Jones, the Industrial average is set for an 8th decline with US equity futures modestly lower in the premarket as risk-averse sentiment persists overnight. Oil’s continued slide and recent plunge into a bear market, despite some stabilization this morning just south of $40, has finally rekindled global growth concerns, and is keeping a lid on bullishness. European stocks are little changed, while Asian stocks and S&P futures fall.

Oil Bounces On Unexpected Cushing Inventory Draw

Following last week's surprise build in overall crude inventories (after 9 weeks of draws), API reported a smaller than expected drawdown (-1.34mm vs -2mm exp). However, oil prices are extending late-day gains as Cushing reported a major 1.3mm draw (against expectations of a 1mm barrel build). Gasoline drew down but Distillates built.