Crude Oil

Ignore OPEC, It's China That Dictates Oil Prices

"If you wanted to know where the downside risk is, it is not in OPEC's decision or in U.S. driving demand or in global inventories rebalancing. I think China is the big source of concern,"

Why China's Strategic Petroleum Reserve Is All That Matters For OPEC

Forgot Thursday's OPEC meeting: its outcome, fully priced in by the market, has no impact on the price of oil. What does is China, and specifically whether the sudden, recent slowdown in accumulation for its strategic petroleum reserve, means that some 1.2 million in Chinese oil imports are about to flood the market...

S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's SPR Sale Plans

S&P futures rose alongside European stocks as Asian shares posted modest declines. The euro set a new six-month high and European bourses rose as PMI data from Germany and France signaled that the ECB will have to tighten soon as Europe's recovery remains on track, with the German Ifo business confidence printing at the highest level on record, and hinting at a GDP print in the 5% range.

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).

Global Markets Rebound To End Volatile Week, As Trump Rout Fades

Two days after the biggest rout in US stocks in 8 months, and one day after Brazil's stock market was halted due to a circuit breaker, wiping out out 8.8% of its market cap, traders are eager to put it all in the rearview mirror and in a quiet session on the last day of the week, S&P futures are set for a green open, up 0.2%, in line with Asian and European markets, all looking to close the week on a positive note.