Posts

Sevens Report Co-Editor Quoted in MarketWatch on June 9th, 2023

/in , /by

U.S. oil futures fall for the session, lose more than 2% for the week

Prices had started the week moving higher after Saudi Arabia said it would cut output by an additional 1 million barrels per day in July. However, “traders faded the move,” as the Saudi cut would only remove one-third of a single day’s worth of global oil production over the course of July, said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.

Sevens Report Analysts Quoted in ZeroHedge on April 18th, 2023

/in , /by

WTI Rises After Bigger Than Expected Crude Draw

Looking ahead, economic data will be in focus as a “strong economic recovery in China and the avoidance of hard landings in Europe and the U.S. are both priced into the market with WTI trading with an $80 handle,” said analysts at Sevens Report Research in Tuesday’s newsletter. Click here to read the full article.

Sevens Report Co-Editor Tyler Richey Quoted in MarketWatch on April 17th, 2023

/in , /by

Oil futures finish lower as traders eye prospects for energy demand

Oil futures finished with a loss on Monday, with traders weighing the prospects for energy demand. A “shockingly strong” Empire State Manufacturing Index reading Monday helped to live the odds of an interest-rate hike by the Federal Reserve in May, said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.

Sevens Report Co-Editor Tyler Richey Quoted in MarketWatch on April 13th, 2023

/in , /by

U.S. oil futures finish lower, a day after marking their highest finish year to date

“The expectation that consumer demand will firm markedly in China as the economy continues to recover from the impact of strict economic lockdowns is another supporting factor for oil markets this week,” said Richey. Click here to read the full article.

CPI Preview: Good, Bad, & Ugly

/in , /by

What’s in Today’s Report:

  • CPI Preview: Good, Bad, & Ugly
  • WTI Crude Oil Chart – Futures Pinned In Tight Range at $80/bbl

Stock futures are rising in sympathy with overseas markets on the back of dovish commentary by new BOJ Governor Kazuo Ueda and favorable economic data overnight that is easing “hard landing” worries.

Economically, Chinese CPI rose just 0.7% vs. (E) 1.1% and PPI dropped -2.5% vs. (E) -2.3% while Eurozone Retail Sales fell -3.0% vs. (E) -3.5%. In the U.S., the NFIB Small Business Optimism Index came in at 90.1 vs. (E) 89.0. The mostly better than expected data is helping rekindle hopes that a soft landing may be achieved.

There are no other notable economic reports today which will leave focus on a 10-Yr Treasury Note auction at 1:00 p.m. ET and the sole Fed speaker today: Goolsbee (1:30 p.m. ET) as traders are largely looking ahead to tomorrow’s CPI report.

Sevens Report Co-Editor, Tyler Richey, Quoted in MarketWatch on March 23rd, 2023

/in , /by

Oil futures settle lower, with U.S. prices back below $70 a barrel

“The banks are the main driver of oil, and really all risk assets today, as fading confidence in the financial system is reigniting fears that another crisis may be looming after we saw some of the biggest bank failures since 2008 in early March,” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.

Sevens Report Co-Editor, Tyler Richey, Quoted in MarketWatch on March 20th, 2023

/in , /by

Oil futures shake off early declines to finish higher

U.S. oil prices had broken down out of the 2023 trading range to reach multi-year lows last week, with contagion fears stemming from the first bank failures since the Great Financial Crisis triggered massive volatility and significant risk-off money flows early last week, said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.

Sevens Report Co-Editor Tyler Richey Quoted in Market Watch on December 8th, 2022

/in , /by

Oil prices down 5 sessions in a row, at their lowest in nearly a year

The report “pointed to some further deterioration in consumer demand as we approach the end of the year,” Tyler Richey, co-editor at Sevens Report Research wrote in Thursday’s newsletter. Click here to read the full article.

Tom Essaye Quoted in Barron’s on August 9th, 2022

/in , /by

Oil Earnings Outlook Dims. Blame Cheaper Oil.

For oil’s drop, it’s mostly a demand story. If you see oil move into the high to mid 70s, people are going rethink the idea that these companies are cash flow-generating machines, Essaye said. Click here to read the full article.

Sevens Report Analysts Quoted in The Market Herald on August 5th, 2022

/in , /by

ASX Today: Cautious start as traders await US jobs report

Demand concerns are now the dominant influence on the global energy market and even though supply worries will persist with the Russia-Ukraine war, we will need to see evidence of demand stabilizing for the oil market to begin to find a near-term bottom,” analysts at Sevens Report Research wrote. Click here to read the full article.