Now, whether the market is poised to fall another 10% from this new resistance level (which would be down towards the 3,400 area) remains to be seen and a squeezy leg higher is still a very good possibility… Tom Essaye said. Click here to read the full article.
The 219 billion-cubic-foot weekly fall in U.S. supplies of the fuel reported by the Energy Information Administration Thursday leaves stockpiles more than 10% below last year’s levels…said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
Supply concerns continue to linger after production and pipeline outages overseas buoyed prices last week…Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
Oil futures moved sharply higher on Monday, with U.S. prices posting their highest settlement in a week, buoyed by some doubts that an Iran nuclear deal will be reached anytime soon. A lack of cooperation by Iran, as well as “skeptical comments about Iranian compliance” by U.S. Secretary of State Antony Blinken, both “lower the odds that a new agreement is…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
There is some chatter about demand concerns “with new lockdown measures being imposed in India and other COVID-19 hotspots around the globe, however…” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
“With supply dynamics of the global oil market as clear and steady as they have been in years, trader focus has turned to demand in recent sessions, and with the continued vaccine…” analysts at Sevens Report Research wrote in a Tuesday newsletter. Click here to read the full article.
“So far in 2021, oil traders have gained increased clarity regarding global production and supply dynamics which has acted as a tailwind…” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
Overall, the fundamental backdrop for the oil market is “mixed with ominous coronavirus trends being offset by vaccine optimism, while faltering economic growth…” said analysts in the latest Sevens Report Research newsletter. Click here to read the full article.
“The uptrend has clearly lost momentum since the early stages of the Q2 rebound.” However, “the path of least resistance is still higher right…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
“Historically, good economic data is negative for gold but in this case, real interest rates declined in the wake of the release, as rising…” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
