Oil prices struggled as U.S. oil production was propped up or was it production propaganda?
The great oil market rebalancing will continue as low oil prices have sparked demand and global oil and shale oil production is failing to keep pace.
It has been more than five years since the market fell so hard so fast from its’ high.
Yesterday’s session was not like the previous ones – in the previous days, the precious metals sector moved lower together and mining stocks were leading the way. Yesterday, gold and silver declined, but miners were barely affected. Does this strength indicate a likely turnaround?
If we look at gold from the long-term perspective, it’s clear that it hasn’t really done much in the recent months—it’s trading in the $1,200-$1,250 range, which is where it was in the first half of 2016, first half of 2015, for most of 2014 and in the second half of 2013.
New U.S. single-family home sales surged to an eight-month high in March, pointing to underlying strength in the economy despite an apparent sharp slowdown in growth in the first quarter.
WTI crude oil had a nice rally last week, but I believe that rally will stall and the oil price will come back down.
China's stockpiling of crude oil appears to have increased in the first two months of the year, despite prevailing higher prices caused by OPEC and its allies curbing output.
The U.S. Securities and Exchange Commission on Friday denied a request to list what would have been the first U.S. exchange-traded fund built to track bitcoin, the digital currency.
U.S. oil inventories are at record levels, but there are a few glimmers of hope that the glut could be starting to subside.