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Video: Rockwell Global’s Chief Economist Cardillo Says Ingredients Are Being Set For Another Run In Gold
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***Top stories from the last 15 days
Gasoline
Good Times Return For Commodities (Stocks)
- Details
- Published on Tuesday, 19 May 2009 04:55
- Written by Brad Zigler
In case you haven't noticed, several commodities have swung to a bullish mode now, particularly RBOB gasoline, the soybean complex and corn. Less well-developed are the trends in the petroleum complex, softs such as coffee, sugar and orange juice, feeder cattle and wheat.
Archives
Yeah, Still MORE Oil, But ...
- Details
- Published on Wednesday, 06 May 2009 04:32
- Written by Brad Zigler
Overnight, crude oil traders shunned analysts' opinions, pinning their fortunes to a report by the U.S. American Petroleum Institute (API) that hinted of a drawdown in oil and gasoline stockpiles. Crude oil for June delivery rose as much as 60 cents a barrel to the $54.40 level in NYMEX electronic trading after slipping 63 cents in the day session. Oil prices climbed nearly 8% this week and are 21% higher for the year.
Gasoline IS What It’s Cracked Up To Be
- Details
- Published on Monday, 04 May 2009 05:47
- Written by Brad Zigler
Welcome to May, the start of the summer driving season. What? Not quite ready to pack up the family chariot and head off to recreate?
Awash In Oil; Gasoline And Distillates, Too
- Details
- Published on Wednesday, 22 April 2009 04:31
- Written by Brad Zigler
June crude oil opened 45 cents, or 0.9%, lower this morning after seesawing in the overnight market on concerns about overhanging supply. The nearby NYMEX contract closed modestly higher at $48.51 a barrel in Tuesday's day session, following Monday's pronounced losses. Prices, in fact, hit fresh six-week lows early Tuesday, exacerbating the near-term chart damage inflicted the previous day.
Got Oil? Want Gasoline?
- Details
- Published on Wednesday, 01 April 2009 04:51
- Written by Brad Zigler
(Correction: Due to a transcription error, Tuesday's Indicator was mistakenly reported at 9.7%; it should have been 8.1%.)
Oil traders again took their lead from the equities market Tuesday, ratcheting up nearby WTI futures 2.6% in the NYMEX day session. Buying enthusiasm for refined products, however, was more subdued, as RBOB gasoline rose 1.8% and heating oil tagged along with a 1.6% gain.
There’s Plenty Of Oil (For Now)
- Details
- Published on Wednesday, 25 March 2009 05:08
- Written by Brad Zigler
Stocks and the petroleum complex held hands this week as both markets skipped onto higher ground. Equities have been leading the way, providing a gauge of economic confidence for oil traders. It shouldn't be surprising, then, that last night's weakness on the equity bourses put pressure on oil prices. Oil slumped throughout the night, seeing its only bullish sparks on short covering near the open of day-session trading.
Food Prices Continue To Deflate
- Details
- Published on Tuesday, 17 March 2009 06:11
- Written by Brad Zigler
Real-time Inflation Indicator (per annum): 7.5%
Inflation hasn't gone away. At least on a month-to-month basis according to the U.S. Labor Department's latest Producer Price Index report. Wholesale prices inched up 0.1% in February, much lower than the 0.8% uptick in January. When compared against last year's price levels, though, wholesale inflation fell 1.3% in February.
Commodities Vs. Commodity Stocks Redux
- Details
- Published on Wednesday, 11 March 2009 17:01
- Written by Brad Zigler
- Rubles and yuan and rupiah - oh my!
- A simultaneous blessing and curse...
- Commodities' anathema
Gasoline's Short Supply
- Details
- Published on Wednesday, 11 March 2009 05:49
- Written by Brad Zigler
Real-time Inflation Indicator (per annum): 7.0%
Reports by the U.S. Energy Information Administration often roil the markets. Yesterday, for example, trading on the NYMEX turned in sellers' favor after the agency's short-term energy outlook was released. EIA cut its forecast for global oil demand by some 200,000 barrels a day from last month's guesstimate. In reaction, front-month April NYMEX crude finished the day's session $1.36 lower, at $45.71, with gasoline and heating oil following suit.
Accounting For Crack Spread Differences
- Details
- Published on Wednesday, 04 March 2009 17:01
- Written by Brad Zigler
- The most transparent petroleum marketplace
- Topographic map or GPS profit tracker?
- Margin-free alternatives
Crude Oil Takes A Backseat To Gasoline
- Details
- Published on Wednesday, 04 March 2009 05:03
- Written by Brad Zigler
A 2.2% year-over-year increase in gasoline demand reflected in this week's U.S. Energy Department inventory report seems to belie dire prognostications about the U.S. economy. Last year, gasoline prices were on the rise, just as they are now.
Got Gas? There's Less Now
- Details
- Published on Wednesday, 25 February 2009 04:57
- Written by Brad Zigler
April crude oil was higher overnight due to continuing short covering. Prices moved steadily higher throughout the session, then eased off just ahead of the NYMEX floor opening and the release of the weekly Energy Department inventory report. Traders must have seen something the Oil Patch analysts couldn't.
More Oil, Less Gasoline
- Details
- Published on Wednesday, 11 February 2009 04:19
- Written by Brad Zigler
Crude oil closed lower on Tuesday, ahead of the U.S. Energy Department's weekly inventory report, widening crack spreads to levels not seen since January. Overnight, crude prices recovered slightly on short covering as traders seemed to heed analysts' forecast for a 2.8-million-barrel decline in domestic crude oil stocks. They needn't have bothered, though. The Energy Department, it turns out, reported oil stocks growing by 4.7 million barrels last week.
Oil Inventory Build Surprises Analysts, Not Traders
- Details
- Published on Wednesday, 04 February 2009 05:15
- Written by Brad Zigler
Oil traders turned buyers in early morning trading Wednesday, driven by book squaring ahead of the U.S. Energy Department's oil inventory report. Apparently, traders had already discounted analysts' calls for a 2.5-million-barrel build in crude oil stocks.
Oil Questions From Friday's Mailbag
- Details
- Published on Friday, 30 January 2009 07:22
- Written by Brad Zigler
There's nothing better to start a morning than a bracing cup of coffee and a peek into the old mailbag. This morning's haul included several queries about crack spreads. So, without further ado, let's get to a couple.
Energy Spreads Offer Leveraged Profits, Reduced Risk
- Details
- Published on Tuesday, 27 January 2009 12:40
- Written by Brad Zigler
- Training wheels for novices
- More bang for the margin buck
- Exploiting market nuances
Too Much Oil (And Other Fuels)
- Details
- Published on Thursday, 22 January 2009 05:18
- Written by Brad Zigler
Did you ever have one of those nights? You know, when things start one way and end another? Oil traders are thinking that now.
Oil Bears Growl After Inventory Report
- Details
- Published on Wednesday, 14 January 2009 04:50
- Written by Brad Zigler
Short covering drove crude oil futures higher overnight while profits were taken in gasoline following Tuesday's floor session. Traders squared their books by buying crude, against sales of gasoline futures, in anticipation of this morning's U.S. Energy Department inventory report. Most short covering was featured in the heating oil market.
A Real Commodity Moneymaker
- Details
- Published on Thursday, 08 January 2009 06:07
- Written by Brad Zigler
Real-time Inflation Indicator (per annum): 9.2%
Wednesday's column ("2008 Was Golden ... Barely") left some readers with the impression that there were hardly any winners among the exchange-traded products (ETPs) tracking commodities.
OPEC Cuts Almost Trump Bearish Inventory Report
- Details
- Published on Wednesday, 17 December 2008 04:42
- Written by Brad Zigler
Crude oil futures came into the Wednesday trading session slightly higher after overnight short covering. Crude oil and fuel futures traded lower in the previous NYMEX floor session as doubts swirled about OPEC resolve. The OPEC ministerial meeting in Algeria was expected to result in output reductions of as much as 2 million barrels a day, but member nations' propensity for cheating shaded traders' price notions.
