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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...
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.
Report on U.S. ethanol production, usage, and stocks for the week ending February 3, 2023.
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.
Unusual stock options volume may offer insights for retail investors seeking an edge on what certain market ideas may do next.
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.
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.
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...
