Crude Prices Underpinned by Signs of Stronger Chinese Energy Demand
Mar WTI crude oil (CLH23 ) this morning is up +0.25 (+0.32%), and Mar RBOB gasoline (RBH23 ) is down -3.88 (-1.58%). March Nymex natural gas (NGH23 ) is down -0.134 (-5.19%). Crude oil and gasoline prices this morning are mixed. Optimism about stronger Chinese energy demand is underpinning crude...
Gasoline As the 2023 Driving Season Approaches
While the number of electric vehicles on U.S. roads is increasing, gasoline-powered cars continue to outnumber EVs dramatically. Gasoline and ethanol blends power U.S. cars, and in February 2023, the demand is set to move higher as the driving season will begin when winter ends.
Weekly U.S. Ethanol Production Contracts, Stocks Fractionally Lower
Report on U.S. ethanol production, usage, and stocks for the week ending February 3, 2023.
More Fed Speak and a Bear Flag (Crude Oil)
Bill Baruch breaks down the latest with crude oil.
Trend Still Up
Powell delivered, and didn‘t trip the bulls - S&P 500 merely tried to shake out the weak hands, but you were ready through my habitual live coverage on Twitter, as to what to expect. The premarket consolidation is neither unexpected nor concerning – and market breadth data will catch up, even if only after the consumer confidence data Friday.
3 Stocks to Watch From the Unusual Options Volume Screener
Unusual stock options volume may offer insights for retail investors seeking an edge on what certain market ideas may do next.
Oil Oxymoron President Biden
Joe Biden was apparently off script and addressed the Biden administration’s oil oxymoron. No I am not talking about Occidental Petroleum or any other derivative of that word but the fact that the Biden administration loves to bash oil companies for not producing more oil but at the same time vowing to end fossil fuels.
Yesterday the markets veered to the Upside, will that change today?
Natural Gas (NG) Reclaims Key 2.5 Level Ahead of Storage
Natural Gas (NGF23) is trying to halt the deep slide since September, with odds elevated and rising for a strong bounce off downchannel support (on the weekly chart) and Friday’s fresh 2023 low following Thursday’s highly anticipated weekly storage data. With NG arguably breaking above a descending wedge resistance (on the daily chart), a break above downchannel resistance (on the 4hr chart) post-storage is likely.
Crude Sharply Higher on Chinese Energy Demand Optimism
Mar WTI crude oil (CLH23 ) on Tuesday closed up +3.03 (+4.09%), and Mar RBOB gasoline (RBH23 ) closed up +8.34 (+3.51%). Crude oil and gasoline prices Tuesday settled sharply higher. A weaker dollar Tuesday was bullish for energy prices. Also, optimism about stronger Chinese energy demand was supportive for...