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Prices had sold off with risk assets in the immediate wake of the U.S. jobs data

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Prices had sold off with risk assets: Sevens Report Co-Editor, Tyler Richey, Quoted in MarketWatch

Oil prices fall for a third week in a row

Prices had sold off with risk assets in the immediate wake of the U.S. jobs data for May as they were “perceived as ‘hot’ and hawkish for Fed policy” and “ultimately negative for growth and consumer demand,” said Tyler Richey, co-editor at Sevens Report Research. “But futures have since recovered as the details of the report were not nearly as strong as the headline would suggest.”

“In the near term, an uncertain and potentially fluid OPEC+ backdrop, simmering geopolitical tensions and perceived resilience could support oil prices and even see a retest of $80 [a] barrel” by WTI crude, he said. “But looking at the longer-term setup for oil, it is less than encouraging with all the telltale signs of a looming recession falling into place at a time when OPEC+ is likely maxed out with regard to their willingness to curb production any further than they already have.”

Also, click here to view the full MarketWatch article published on June 7th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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Gasoline supplied was the most important figure in the release

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Gasoline supplied was the most important figure in the release: Tyler Richey, co-editor of Sevens Report Research, Quoted in MarketWatch

Oil futures trade lower as U.S. crude supplies unexpectedly rise

Gasoline supplied was “the most important figure in the release as it is a key, high-frequency proxy for consumer gasoline demand and ultimately consumer sentiment and a gauge on general willingness to spend discretionary money,” said Tyler Richey, co-editor at Sevens Report Research. The EIA reported that gasoline supplied surged by 439,000 barrels per day to 9.315 million bpd last week, a fresh year-to-date high and the highest reading since early November of last year, he said.

Also, click here to view the full MarketWatch article published on May 22nd, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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.

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There is certainly still a geopolitical fear bid in oil markets

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There is certainly still a geopolitical fear bid in oil markets: Sevens Report Co-Editor, Tyler Richey, Quoted in Morningstar

Oil prices score weekly gain, breaking run of back-to-back weekly losses

“There is certainly still a geopolitical fear bid in oil markets here with [West Texas Intermediate crude] prices in the low $80s,” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. “Geopolitical worries have eased from their most tense levels seen earlier in April as the escalation in the Middle East between Israel and Iran has receded back to a still unsettling, but notably more stable level.”

Without the simmering geopolitical worries, WTI would likely be in the low-to-mid $70-a-barrel range, “at best,” as consumer demand for gasoline has been sliding in recent weeks, while OPEC+ has made no changes to output policy in some time, he said.

Also, click here to view the full MarketWatch article published on Morningstar on April 26th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

Oil Inventories

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Hawkish central-bank policy is bad for the oil market

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Hawkish central-bank policy is bad for the oil market: Tyler Richey, Sevens Report Co-Editor, Quoted in MarketWatch on MSN

Oil settles lower after rise in U.S. CPI and OPEC’s unchanged demand forecast

The initial market reaction to the consumer-price index release was a “hawkish one which saw oil prices decline to session lows,” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch.

“Hawkish central-bank policy is bad for the oil market, because high interest rates over time act as a steady headwind on global growth and ultimately, that weighs on consumer-demand expectations,” he said.

Also, click here to view the full MarketWatch article published by MSN on March 13th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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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.

The initial market reaction to the CPI release was a hawkish one

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Oil prices decline to session lows: Sevens Report Co-Editor, Tyler Richey, Quoted in MarketWatch

Oil futures move up after CPI data, OPEC’s latest forecast for growth in oil demand

The initial market reaction to the CPI release was “a hawkish one, which saw oil prices decline to session lows,” said Tyler Richey, co-editor at Sevens Report Research. “Hawkish central bank policy is bad for the oil market because high interest rates over time act as a steady headwind on global growth and ultimately that weighs on consumer demand expectations.”

Looking at the reaction in the rates markets, “hawkish money flows were only modest, and investors are still pricing in a June rate cut from the Fed, just with a slight dip in confidence,” Richey said.

Also, click here to view the full MarketWatch article published on March 12th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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.

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Expectations of a “higher-for longer” policy by the Federal Reserve

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Expectations of a “higher-for longer” policy by the Federal Reserve: Tyler Richey Quoted in Morningstar

U.S. oil prices stretch gains into a sixth straight session

Expectations of a “higher-for longer” policy by the Federal Reserve are weighing on the demand outlook and have therefore acted as a headwind for U.S. benchmark oil prices recently, Tyler Richey, co-editor at Sevens Report Research, told MarketWatch.

However, Monday’s New York Fed Consumer Survey data showed a drop from 2.6% to 2.4% in the three-year inflation outlook, which was “received as dovish by the markets and helped support the domestic oil market to start the week,” Richey said.

On Tuesday, focus will shift to the U.S. CPI report, he said. A “hot” print would once again be a “headwind for oil prices, while a favorably ‘cool’ print could send WTI futures beyond $80” a barrel for the first time in 2024.

Also, click here to view the full MarketWatch article published on Morningstar on February 12th, 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.

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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.

The Oil Market Has Seemed Skeptical

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The Oil Market Has Seemed Skeptical: Tyler Richey Quoted in Morningstar

Oil prices finish higher as traders weighs risks tied to U.S. airstrikes

The oil market has “seemed skeptical of the potentially positive demand implications of the recent string of strong economic data,” though prices did move up in the wake of the better-than-expected ISM report, Tyler Richey, co-editor of Sevens Report Research, told MarketWatch.

As far as what to watch for this week, Richey said a rise in consumer demand for refined products metrics in the weekly Energy Information Administration report due out Wednesday would be a bullish development, while a return to record U.S. oil output would be “negative for prices in the near term.”

Also, click here to view the full MarketWatch article published on Morningstar on February 5th, 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.

West Texas Intermediate Crude Tested Critical 2023 Support

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Oil Futures Finished Higher: Sevens Report Co-Editor, Tyler Richey, Quoted in MarketWatch

Oil futures end modestly higher after posting 7 consecutive weekly declines

Gains for the session came from a “combination of near-term oversold conditions in the futures market” after West Texas Intermediate crude tested critical 2023 support in the upper $60s last week, said Tyler Richey, co-editor at Sevens Report Research.

Oil futures finished higher on Monday after posting seven consecutive weekly declines.

Generally improving investor sentiment and risk-on money flows across other asset classes have also provided support to oil, he said. 

Also, click here to view the full MarketWatch article published on December 11th, 2023. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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.

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The OPEC+ Decision Was A Clear Disappointment

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The OPEC+ Decision Was A Clear Disappointment: Tyler Richey Quoted in Morningstar

Oil prices stretch loss to a 4th session in a row to settle at lowest since July

“The OPEC+ decision was a clear disappointment last week due to both the underwhelming amount of additional [oil] output curbs and the voluntary nature of the 2024 policy cuts,” said Tyler Richey, co-editor at Sevens Report Research.

“The market didn’t buy it, however, as the bears are pressing OPEC+ for more clarity on the long-term outlook for policy plans and reassurance that the group is willing to do ‘whatever it takes’ to keep oil near or above $80/barrel,” Richey told MarketWatch on Tuesday.

“Looking ahead, the price action in oil has become increasingly heavy, and if there is not some sort of positive or bullish market catalyst ahead, we are likely to see a test of the 2023 lows in the $67/barrel area” for WTI, analysts at Sevens Report Research wrote in a Tuesday note.

Also, click here to view the full MarketWatch article published on Morningstar on December 5th, 2023. 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.

Crude Oil Prices May Impact Inflation

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Crude Oil Prices May Impact Inflation: Tom Essaye Quoted in Forbes

Lockheed Martin, Northrop Grumman Stocks Notch Best Days In Years Amid Israel-Hamas Conflict

Defense stocks surged while the broader market dipped Monday as Wall Street sifted through the market fallout of the conflict between Israel and Hamas, which escalated this weekend by the latter’s historic attack.

Sevens Report analyst Tom Essaye attributed this early slump to “rising geopolitical tensions,” pointing to how the related surge in crude oil prices may impact inflation and thus could keep monetary policy tighter.

Also, click here to view the full Forbes article published on Octobe 9th, 2023. However, to see the Sevens Report’s full comments on the current market environment sign up here.

Crude Oil Prices May Impact Inflation

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.

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