Crude Oil

Forex News: Crude oil above $139 per barrel. Net Long Term TIC Flows due at 9:00 AM EDT

Greg Michalowski — Mon, 16 Jun 2008 08:59:02 -0400

The dollar versus crude oil link continues (although it goes up faster and more then when the dollar rallies).

The Net Long Term TIC Flows is due fro release at 9:00 AM EDT. Expectation is for the figure to decline to 63.3 billion in April. The Total Net TIC flows expected to come in at 42.5Billion versus 48.2 Billion. This is April data so not that immediate. However, it is a gauge of foreign demand for US investments which is what supports the US deficit.

Forex Trading: Crude Oil moves below $125. Dollar rallies

Greg Michalowski — Tue, 03 Jun 2008 13:27:27 -0400

The dollar resumed its course higher as oil moved below $125 per barrel. Gold is down over $10.

Forex Trading News: Crude Oil Hits Another New Record

Mr. Danish FX — Fri, 09 May 2008 06:23:07 -0400

Crude Oil has hit another high today at $125 a barrel. We see this as the USD has taken a hit through Tokyo and the start of London session.

Forex News: Crude inventories higher than expected.

Greg Michalowski — Wed, 30 Apr 2008 10:33:46 -0400

Crude +3.85 M versus +1 M Expected
Gas: -1.48 M vs -1.48 Exp
Distillates +1.13 M vs Unc Exp
Utilization Rate 85.4% versus 85.9 Exp

Should be bearish for oil.

Forex Trading : Oil inventory data bullish for oil. Crude above $110.00 per barrel

Greg Michalowski — Wed, 09 Apr 2008 10:39:39 -0400

The higher oil prices makes it unlikely that Trichet will soften his rhetoric about inflation tomorrow. The question is, does the higher oil inflation worry the Bank of England. Their inflation is above the target rate of 2.0% and is most likely going to approach 3.0% in the near term. Expectations are for a 25 basis point cut despite the increase.

The inventory data forced USDCHF through support at 1.0074 on the hourly chart. A close at 11:00 AM NYT below this level will be bearish for the USDCHF.

Crude Oil Drops to 1 Month Low

Mr. Danish FX — Thu, 17 Jan 2008 15:52:08 -0500

Crude Oil fell to the lowest levels in over a month on worries that the U.S. economy may fall into a recession. Crude Oil is currently trading at 90.18, down .66 for the day.

Crude Oil Inventories

Mr. Danish FX — Wed, 16 Jan 2008 10:31:41 -0500

Crude Oil Inventories rose 4.26M barrels than the previous weeks -6.8M barrels. The Energy Information Administration’s Crude Oil Inventories gauges the weekly increase in barrels of commercial crude oil held in inventory by US firms. This level is known to influence the price of petroleum products, which can have an impact on inflation and other economic factors.

Energy futures moving lower

Greg Michalowski — Wed, 07 Nov 2007 10:49:23 -0500

Crude down $0.13 now.

Gold up $12 and Crude Oil up $1.85

Greg Michalowski — Tue, 06 Nov 2007 08:07:59 -0500

Contributing to the dollar declines.

USDCAD hit another low at 0.9233, breaking through option barriers at 0.9300. Economic data is due out of Canada this morning with the Building permits at 8:30 ET and the Ivey PMI at 10:00 ET.

Crude up $2.50 to $92.90

Greg Michalowski — Wed, 31 Oct 2007 10:33:21 -0400

Inventories declined forcing the price higher.