Posts

Still “a simmering” geopolitical fear bid in the global oil market

/in , /by

Still “a simmering” geopolitical fear bid in the global oil market: Sevens Report Founder, Tom Essaye, Quoted in Morningstar

Oil prices remain at more than 3-week low as Iranian crude supply concerns ease

Tom Essaye, founder of the Sevens Report Research, said there is still “a simmering” geopolitical fear bid in the global oil market which is keeping futures above the $80-a-barrel level, and that fear bid will remain in the market until there is some “more formal” ceasefire agreed upon in the Middle East.

Outside geopolitics, higher-for-longer policy rates are a risk to demand down the road, but for now most economic data remains robust and supports the case for futures to sustain prices above $80 in the near term, Essaye said in a Tuesday client note.

Also, click here to view the full MarketWatch article published on Morningstar on April 23rd, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

Oil Inventories

Lastly, If you want research that comes with no long-term commitment, yet provides independent, value-added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Risks Are Skewed To The Upside

/in , /by

Risks Are Skewed To The Upside: Tyler Richey Quoted in Morningstar

U.S. oil prices give up gains to finish flat ahead of government data on crude supplies

Still, “based on the risk-on tone in equity markets so far in November amid soft landing hopes. Risks are skewed to the upside into the end of the week. Pending good consumer demand readings for refined products in the EIA data,” he told MarketWatch.

“It seems like a combination of the less optimistic demand outlook in the IEA’s monthly outlook report and trader positioning into a double dose of weekly EIA data releases Wednesday led to oil to come off session’s price highs, said Tyler Richey, co-editor at Sevens Report Research.

The EIA report will include supply data covering two weeks — for the weeks ended Nov. 3 and Nov. 10 — after a planned systems upgrade led the EIA to delay last week’s report releases.

Also, click here to view the full MarketWatch article published on Morningstar on November 14th, 2023. However, to see the Sevens Report’s full comments on the current market environment sign up here.

Risks Are Skewed

Lastly, If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Tom Essaye Quoted in Morningstar on August 13th, 2023

/in , /by

A stumbling stock market faces a crucial summer test. Here’s what will decide the bull’s fate.

“This scenario would essentially undermine the three pillars of the rally, and as such investors should expect a substantial decline in stocks, even considering the recent pullback,” Tom Essaye said in a note last week. “In fact, a decline of much more than 10% would be likely in this scenario, as it would undermine most of the rationale for the gains in stocks since June (and perhaps all of 2023).”

Click here to read the full article.

Sevens Report Analysts Quoted in Morningstar on July 20th, 2023

/in , /by

Natural-gas futures settle nearly 6% higher; oil gains

Oil prices, meanwhile, finished higher. Global demand and supply will determine if WTI crude can “trade sustainably” above $80 a barrel in the near term, analysts at Sevens Report Research wrote in Thursday’s newsletter. Click here to read the full article.

Sevens Report Co-Editor, Tyler Richey, Quoted in Morningstar on June 15th, 2023

/in , /by

Oil prices climb as traders weigh prospects for energy demand

Tyler Richey, co-editor at Sevens Report Research, pointed out that the EIA showed that the four-week moving average of gasoline supplied, a proxy for consumer fuel demand, rose to a new 18-month high of 9.24 million barrels a day. That suggests that the trend in gasoline demand is “one that is increasing, and that is a good thing for the time being,” he said. Click here to read the full article.

Sevens Report Co-Editor, Tyler Richey, Quoted in Morningstar on May 23rd, 2023

/in , /by

Natural-gas prices have dropped by nearly half this year, despite output risks and higher demand prospects

The natural-gas market is reaching a historically pivotal phase of the year, with the price swings typically occurring in the summer and winter months, said Tyler Richey, co-editor at Sevens Report Research. Natural gas is the largest source of electricity in the U.S., at roughly 40%, so when temperatures heat up in the summertime, demand for power to run air conditioning units rises in lockstep. Click here to read the full article.

Sevens Report Co-Editor, Tyler Richey, Quoted in MorningStar on February 8th, 2023

/in , /by

Oil futures close up a third straight session as U.S. data hint at higher demand

Overall, “an improving outlook for the health of the U.S. economy in the wake of the January jobs report, and ongoing optimism about the positive demand impact of China’s rapid reopening process are offering support to global oil markets right now,” said the Sevens Report’s Richey. Click here to read the full article.

Tom Essaye Quoted in MorningStar on October 24th, 2022

/in , /by

Gold futures retreat after Friday’s wild ride

“The trend is still lower for now but once we can actually say we have reached peak-hawkishness, the outlook for gold will very likely shift to neutral (if not bullish) from bearish,” said Tom Essaye, a former Merrill Lynch trader and the founder of the Sevens Report newsletter. Click here to read the full article.

Sevens Report Co-Editor Tyler Richey Quoted in MorningStar on September 8th, 2022

/in , /by

Oil futures end higher as a recent drop to 7-month lows left prices ‘oversold’

Official U.S. government data revealed a “massive” weekly build in commercial U.S. crude stockpiles, leading to a “knee-jerk reaction” lower in oil prices…said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.