iPath S&P GSCI Crude Oil Ttl Ret Idx ETN (OIL)

[BlueAlien]

Brent prices fell and U.S. oil made only marginal gains on Thursday despite a government report showing big declines in some U.S. stockpiles and signs of strong demand, "the strongest single week's data for several years," according to Standard Chartered PLC.

[magness]

OPEC is dead, folks.

[BlueAlien]

U.S. oil stockpile decline reverses nine weeks of builds: EIA

However, this unseasonal draw is not a trend and oil stock builds are expected to make a comeback.

http://www.reuters.com/article/us-usa-oil-eia-idUSKBN16M241

U.S. oil rig count rises to highest since October 2015: Baker Hughes

Drillers added 17 oil rigs in the week to Feb. 3, bringing the total count up to 583, the most since October 2015, energy services firm Baker Hughes Inc said on Friday.

During the same week a year ago, there were 467 active oil rigs.

http://www.reuters.com/article/us-usa-rigs-baker-hughes-idUSKBN15I2MN


OPEC deal expected to tighten oil market in 2017: KempOPEC deal expected to tighten oil market in 2017: Kemp

If the cuts are implemented in full, OPEC output will fall by around 1.17 million barrels per day (bpd) from 33.64 million bpd in October 2016 to around 32.5 million bpd in January 2017

http://www.reuters.com/article/us-opec-output-kemp-idUSKBN13Q5A5

[risk on]

The nuke deal may get shredded at this rate, and there goes a chunk of Iran oil onto the open market in all likelihood

[nazleen]

http://www.nbcnews.com/news/us-news/u-s-hits-iran-new-sanctions-testing-ballistic-missile-n716386

[JefftDecker]

OIL

prices seem to be bottoming here, looking for the next few weeks up.
looks like OIL can return to at least the bollinger band center line.

happy coding
R5

[stocktrademan]

OIL bearish 5.88

macd bearish divergence
macd crossing below 0 and average
moving average resistance

[Pro-Life]

OIL UPDATE - HAS THE ADVANCE FINALLY RUN OUT OF STEAM?...
originally published May 30th, 2016 in the Various Reports Sector

http://www.clivemaund.com/article.php?art_id=3819

A factor that has supported oil prices for much of this year has been the persistent “contango”, which means that prices for future delivery of oil are significantly ahead of spot prices, probably caused by the market’s erroneous expectation that the shutting down of capacity will lead to a shortage and thus higher prices. This belief, coupled with high production, has led to an armada of ships bulging with Crude, sitting offshore, with the owners holding the mistaken belief that they will get higher prices later. Thus, the dramatic development of the past few weeks, during which the contango has collapsed, so that it has already become uneconomic to store oil offshore, means that the screw is now being turned on owners storing oil offshore. With the market glutted, and contangos collapsing, owners are being forced into the bizarre position of resorting to debt-funded storage, a highly anomalous solution that is clearly untenable over the longer-term. What this means is that a large number of bulging ships are soon going to race to shore to disgorge their cargoes for what they can get, a development that could magnify the downturn in oil that we are expecting into a rout of plunging prices, made worse by the fact that prices have been artificially elevated by excess storage in expectation of rising prices, which has so far been a self-fulfilling prophecy – but when all storage capacity, onshore and offshore, has been used up, that’s it, it’s game over, and that appears to be the situation that we have arrived at.

There is more w/charts at the link above...

[MakeEmSqueal]

OIL $$$$

[MakeEmSqueal]

The trend is becoming our FRIEND!

[MakeEmSqueal]

Looking at june options...

[MakeEmSqueal]

AGREED. Energy is making moves...

[Latinachica]

Buy

[JayCs]

NYMEX crude gains strongly in Asia on production deal focus http://m.investing.com/news/commodities-news/nymex-crude-gains-strongly-in-asia-on-production-deal-focus-388279

[Kylef]

(OIL)a little bounce ...But i believe $3.30 is the actual bottom area, and $4.90 top for now! all In my Opinion.

[risk on]

Seems logical, however , alt energy has actually grown with oil decline. Many say the industries are so disconnected that the normal inverse relationship one would expect is , as of now, not so. Oil will be back, as it always has been, and always will be. Cyclical

[Pro-Life]

Agreed. On top of everything, the incentive for alternative energies becomes weak.

[Peezy]

Never thought I would say this but imo I think oil is trash now there's just to much of it to be worth anything

[Pro-Life]

Is Something Blowing Up In OIL?
Submitted by Tyler Durden on 01/21/2016 14:13 -0500

http://www.zerohedge.com/news/2016-01-21/something-blowing-oil

[FunGuns09]

Yep. Completely agree! Drop some serious cash and watch your money grow when OIL rebounds

[hlsh]

I agree......

[NotRichYet2]

Don't know about you but can see price per barrel dropping to $25 or less and the PPS here on OIL dropping to or below $4
That to me would be a great spot to go long on
Current PPS now at $5.32

[hlsh]

OIL - sorry longs ; really enjoying the lower prices @ the pumps ...... current 5.88

[risk on]

Ha! " I think I want my money back" , lol, you seem to be doing fine today, it's roaring.

[Peezy]

Think I made a mistake buying this

[hlsh]

looking good people........LOL current 6.71

[NotRichYet2]

People at the pumps are not complaining . Where I live regular is down to $1.93 a gallon

[daddyvlo]

Hello OIL . How about going up instead of down everyday

[daddyvlo]

Let's go OIL

[daddyvlo]

Green

[daddyvlo]

Again. Why are option premiums so freaking cheap on OIL. Can someone explain. Thanks in advance.

[daddyvlo]

Bought options on this bad boy 6 months out. Go OIL

[JALXR]

$OIL I think the fact that we have to perform a series of stress test on oil shows a lack of certainty in our current state.

[daddyvlo]

Why are the option premiums on OIL so freaking cheap. Can anyone explain that. Thanks in advance

[daddyvlo]

Interesting. Does this have any life left. I'm considering go long on this. What's your take on OIL. Thanks in advance.

[Goodfill]

Any credibility to this?

http://venezuelanalysis.com/news/11522

Santa Elena, September 23rd, 2015. (venezuelanalysis.com) –Venezuelan Foreign Minister Delcy Rodriguez said Saturday evening that Saudi King Salman and President Nicolas Maduro had spoken on the phone and reached an understanding concerning oil cooperation.

"Both heads of state agreed to deploy joint efforts to recover the stability of the oil market and strengthen OPEC," Rodriguez said on Twitter.

Maduro has lobbied for months for an emergency meeting of the Organization of Petroleum Exporting Countries (OPEC) and coordination with non-OPEC oil producers to cut production in order to stem the downward trend in oil prices, which last month reached a six-year low.

Venezuelan crude now hovers just above $40 a barrel which, in stark contrast to last year’s $100 barrel, has played a major role in the country’s current economic strife.

The South American nation relies on oil for 97 percent of its foreign income.

Despite Rodriguez’s affirmations, Saudi Arabian representatives have previously said they see no need to interfere in the oil market, or call an emergency summit.

Indeed, analysts have pointed to the Gulf nation, the largest oil exporter in the world, as a key player in a game of strategy that has seen a decline in prices as nations vie for market share.

In response, Venezuela recently tried a different tactic. Rather than aiming for production cuts, government officials alluded last week to a proposal that would focus on sustaining a price floor based on quarterly analyses.

“The minimum, minimum price should be $70,” Maduro said during a televised speech last week. “Oil at $70 a barrel guarantees investments needed for global energy and economic stability.”

"This is a win-win proposal. Nobody wins with unstable prices,” the Venezuelan leader added.

Venezuelan Oil Minister Eulogio Del Pino has emphasized a coordinated effort as necessary, not only for the good of Venezuela’s economy, but for other oil-producing nations as well.

“Our average production cost is less than $10 per barrel and if we go to a price war, it is obvious that the low-cost countries will have certain levels of gains, but we recognize that low-cost producers can’t fill the void in worldwide production of oil,” said Del Pino, who is also president of the state oil company PDVSA.

Early in September, President Maduro met with Russian leader Vladimir Putin in Beijing, who agreed to "several initiatives" to balance the market, Venezuelan state media reported.

However, Kremlin spokesperson Dmitry Peskov said at the time “no concrete steps were taken,” and Russian Energy Minister Alexander Novak said last week that Moscow had rejected Venezuela’s request to cut output.

The Venezuelan President announced last week forthcoming plans to travel East to lobby for an urgent OPEC summit.

Currently the Head of State is touring the Caribbean, reaffirming political and economic ties in countries such as Trinidad and St. Kitts & Nevis.

[hlsh]

totally agree.......supply & demand is a tricky game...IMO

[Timothy Smith]

Market should start findings its bottom soon although recovery will not come fast in my opinion.

[hlsh]

hey Timothy Smith, thxs fo the info !!! ''''''current 7.18

[Timothy Smith]

EIA Petroleum Inventories:
• Crude -5.5M barrels vs. +1M consensus, +2.6M last week.
• Gasoline +1.7M barrels vs. -1.1M consensus, -2.7M last week.
• Distillates +1.4M barrels  vs. +1.1M consensus, +0.6M last week.
• Futures +0.25% to $39.11

[hlsh]

anyone hit the short mark ?? LOL //// current 7.01''''''' volume 11,400,000 plus......

[hlsh]

yeap, you got that right.....buy when there's blood in the streets.......current//////7.62

[Cubanwinner]

im buying all what i can!!!! OIL 52 weeks low

[hlsh]

man, the oil stock really taking a hit.....thats' ok , have to burn premium in my old work truck & in my business equip...past 15 yrs, the break is nice......short it to 7.00////////current .....8.12

[NotRichYet2]

Reference Note only: OIL PPS Close
July 24th 2014 $24.82

July 24th 2015 $ 9.48

[FunGuns09]

Looks like this is coming in fruition

[smittysstocks]

Not a good day for oil today but better days on the horizon.

[smittysstocks]

I agree, the last three months have seen a nice recovery trend and that $80 a barrel by August estimate sounds very reasonable.

[NotRichYet2]

Oil prices seem to be on a steady rise now after the 50% collapse. Some see the price per barrel going back to $80 by August as drillers shut down. Could be oil prices went down too far and are now rebounding to a more acceptable level for producers yet still cheaper for consumers than that over $100/barrel price. Do you see a reversal in that trend ? TIA

[dancy]

OIL IS SHORTS (HEDGE FUNDS) DREAM NOW = 12 BACK TO 10 SOON