…”I think oil traders are afraid of getting too bearish with the prospect of a Russia invasion of Ukraine,” Elaine Levin, president at energy risk management brokerage Powerhouse TL said. “If the stock market and bitcoin keep moving down, I do think we make new lows,” Levin added.
FreightWaves Fireside Chat Elaine Levin & Scott Berhang Watch Elaine and Scott talk about why hedging is not as hard as one would think; and discuss current events that are moving the markets... See the full Story here...
Highlights
1) Lowest pre-winter U.S. propane inventories in the last seven years
2) Arbitrage window currently incentivizes U.S. producers to export
3) Strong price rally nearing a decision point
Highlights
1. Refinery use falls on Gulf Coast
2. Gasoline demand rises
3. Domestic crude oil production loses 1.5 million barrels daily
4. Natural gas price holds $5.00
Highlights
1. Latest EIA data bullish
2. Covid-19 restrains prices
3. Mu variant now appearing
4. Natural gas prices approach major resistance
Highlights
1. Uncertainty shrouds U.S. withdrawal from Afghanistan
2. U.S. gasoline inventories below five-year average
3. Natural gas injections well below expectations
Technical analysis is the study of price action in markets. Identifying trends and the reversal of trends is a key goal of this school of analysis. Practitioners do this by evaluating charts and other statistics derived from historical market prices.Market technicians...
Elaine talking on the OPIS Crash Course podcast.