|
Oil’s fundamental backdrop is shifting in favor of the bulls. Today’s decline -- brought on by profit-taking and technical trading -- is exaggerated as money managers and traders book profits and close positions ahead of both the month and quarter’s end.  Source: marketwatch.com - By: Myra P. Saefong & William Watts - Image: AFT/Getty Images
0 Comments
In some cases, bullish views have started to appear in the oil options market where they're seeing a spike in activity at $100 a barrel. This activity indicates that some oil bulls are betting the price could trade around that level by this time next year (via BOE Report).  Source: boereport.com - By: Reuters Anticipation of rising demand, resumed production of U.S. Gulf Coast refineries following Hurricane Harvey, and Turkey’s threat to halt Kurdistan’s crude shipments pushed oil into a bull market this week. WTI Crude is up at $52.65 and Brent Crude is up at $58.35 this morning.  Source: worldoil.com - By: Rakteem Katakey - Image: Stock Photo The spread is wide between WTI and Brent Crude prices. WTI has a way to go before it could supplant Brent Crude as the global benchmark; it may, however, make inroads in Asia and become more attractive to market participants in the region, potentially making it a tool for hedging and price discovery.  Crude oil tanker passing the Strait of Istanbul (Bosphorus) in November 2015. Source: boereport.com - Editing By: Keith Maxwell - Image: Evgeny Sorokin Research from Citibank US suggests that rather than a surge in oil output, there could be a market squeeze as early as 2018, driven by weak investment in exploration and development. Today WTI Crude is at $51.87 and Brent Crude at $58.35.  Source: bloomberg.com - By: Sharon Cho & Serene Cheong |
Hours: M - F 8:00 a.m. - 5:00 p.m. CentralTelephone: 214-624-9867Email: jnichols@peqtx.com |
Quotes by TradingView
|
Redhawk Investment Group, LLC offers direct and alternative oil and gas investment opportunities that enable investors to participate in the potential cash flow and the unique tax benefits associated with oil and gas investments. There are significant risks associated with investing in oil and gas offerings. The information contained in this website is for informational purposes only and is not a solicitation to buy or sell any securities. Information on this site is not intended to be used as investment or tax advice. Consult your investment advisor or tax advisor concerning the current tax laws and effects on your personal tax situation.