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Oil N' Gold Focus Reports
Brainard Pours Cold Water on Hawks Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Tue Sep 13 16 00:45 ET
Hopes of additional Fed funds rate hike fade as Governor Lael Brainard delivered a dovish speech. US equities and bonds rebounded on anticipations of lower chance of monetary tightening in the near term. Wall Street gained with DJIA and S&P 500 indices adding +1.32% and +1.47% respectively. Treasuries rose on Monday with 2-year yields losing -2 points to 0.778% and 10-year yields down -1 point to 1.67%.
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Sentiment Dampened by Rising Rate Hike Hopes Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Mon Sep 12 16 01:21 ET
Risk appetite diminished on intensified speculations of additional Fed funds rate hike later this year. The historically dovish Boston Fed's Rosengren warned last Friday that low interest rates would overheat US economy. The market is closely watching Governor Brainard's speech later today, expecting it would be indicative of Fed's monetary policy outlook.
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Weekly Fundamentals - Oil Rallied on Hopes of Tighter Fundamentals, USD also Lent Support Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Sun Sep 11 16 04:13 ET
Energy prices outperformed last week as huge decline in US crude inventory raised hopes of tighter supply/demand balance. The front-month WTI crude oil contract resumed the recent rally, after sliding over the past 2 weeks, and gained +3.24% on weekly basis. The Brent crude contract also rose +2.52% last week with price breached above US$50/bbl at some points.
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Energy Prices Rallied as Crude Inventory Fell the Most in Almost 2 Decades Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Fri Sep 09 16 02:03 ET
The sharp drop in US oil inventory lifted energy prices, sending both crude oil benchmarks to highest levels in 2 weeks. The front-month WTI contract rose for a 4th consecutive day, rallying +4.66% to 47.62, at close. The Brent contract breached above the 50 level before ending the day at 49.99, up +4.19%. Refinery products also soared with heating oil and RBOB gasoline contracts gaining +3.91% and +5.21% respectively.
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Energy Prices Strengthened on Crude Oil Inventory's Double-Digit Withdrawal Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Sep 08 16 01:56 ET
Energy prices strengthened, led by huge decline in US crude oil inventory and refinery outage. The front-month WTI crude oil contract rose for a third straight day, gaining +1.5%, to settle at 45.5. The Brent crude oil contract also added +1.52% to close at 49.98 for the day. Precious metals retreated after rallying over the past few days.
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Weak ISM Data Damped Rate Hike Hopes, Crude Oil Not Helped by USD Decline Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Wed Sep 07 16 00:53 ET
Disappointing US ISM non-manufacturing index sent US dollar and Treasury yields lower. Yet, Wall Street gained on reduced hopes of Fed funds rate hike. Antipodean currencies outperformed with Aussie and Kiwi soaring +1.4% and +1.5% respectively. US Treasury yields fell to lowest levels in more than 2 weeks with 2-year and 10-year yields sliding to 0.734% and 1.543% respectively.
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Crude Oil Prices Soar on Renewed Hopes of "Freeze" Deal Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Tue Sep 06 16 00:53 ET
The front-month WTI crude oil contract has jumped over +2% in Asia Tuesday, catching up with Brent crude oil's rally after the Labor Day holiday. The front-month Brent crude oil contract rose +1.71% on Monday and has been up around +0.4% so far today. Optimism in the oil market is boosted by the pledge, jointly announced by Russia and Saudi Arabia, to stabilize oil prices through production freeze.
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Oil Prices Slip as Output Freeze Hopes Fade Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Mon Sep 05 16 00:13 ET
Equities are modestly higher in Asia Monday, although US payrolls came in worse than expected. Risk appetite improved a tad as speculations of Fed funds rate hike later this year diminished. Crude oil prices remained under pressure as OPEC producers show no sincerity to lower output. Although Iran signals it would help restore demand/supply balance, it won’t materialize until it has regained pre-sanction market shares.
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Weak ISM Raises Uncertainty in Payrolls Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Fri Sep 02 16 01:47 ET
Disappointing ISM manufacturing index weighed on US markets, making investors more cautious ahead of today's employment report. Wall Street was mixed with DJIA gaining +0.4% while S&P 500 index staying flat at close. Treasuries strengthened (yields lower) as soft ISM data trimmed rate hike speculations. In the commodities sector, energy prices remained under pressure with both crude benchmarks declining...
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Crude Oil Slumped over -3% on Inventory Build Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Sep 01 16 00:28 ET
Crude oil prices slumped as US inventory soared last week. The front-month WTI contract declined for a third consecutive day, losing -3.56%, to settle at 44.7. The Brent contract also fell -2.75% to close at 47.04. Equities weakened as dragged down by the energy sector. Wall Street was torn between weakness in energy sector and encouraging economic data, leaving DJIA and S&P 500 indices down -0.3% and -0.2% at close.
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Crude and Distillate Stock Builds Weighed Further on Energy Prices Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Wed Aug 31 16 01:41 ET
Energy prices remain under pressure as a report shows US inventory rose sharply last week. The front-month WTI crude contract fell for a second day, by -1.34% to 46.35, the lowest in 2 weeks, at close. The Brent contract declined -1.81% to settle at 48.37, the lowest close in 2 weeks. Refinery products also weakened further, by more than -1% on Tuesday.
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