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Ignore Drops In The Rig Count
Article By:
Todd Sullivan
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Tuesday, January 21, 2020 2:48 PM EDT
People still hang on the weekly rig count data as if it is falling it is a predictor of future production declines. Flatly stated, it isn’t.
Marathon Pete (MPC) Breaks It’s 200-Day Moving Average
Article By:
Nick Santiago
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Tuesday, January 21, 2020 1:18 PM EDT
Leading oil refinery stock, Marathon Petroleum, has been declining since late October 2019.
In this article: MPC
Warm Weather Allows Prompt Month Natural Gas Prices To Sink Under $2.00
Article By:
Bespoke Weather
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Tuesday, January 21, 2020 12:02 PM EDT
Warm weather continues to take a heavy toll on the natural gas market, with the long weekend bringing even more changes to the warmer side.
In this article: UNG
WTI Crude Oil May Start Correction To 59.04 With A Break Up Of Resistance Level 58.30
Article By:
Anton Kolhanov
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Tuesday, January 21, 2020 8:40 AM EDT
An uptrend will start as soon, as crude oil rises above resistance level 58.30, which will be followed by moving up to resistance level 59.04.
In this article: OIL
Market Shrugs Off Libya Disruptions
Article By:
ING Economics
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Tuesday, January 21, 2020 5:31 AM EDT
Despite supply disruptions from Libya, which have the potential to swing the market into deficit, the oil market settled just over 0.5% higher yesterday, giving back most of the gains made in the early morning trading session.
Natural Gas Forecast: Likely To Bounce Only To Be Sold
Article By:
Christopher Lewis
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Tuesday, January 21, 2020 3:14 AM EDT
Natural gas markets gapped lower to kick off the trading week, but it should also be noted that the Americans were away for Martin Luther King Jr. holiday, so volume may have been part of the equation.
In this article: UNG
Natural Gas Forecast: To Continue Falling Apart
Article By:
Christopher Lewis
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Monday, January 20, 2020 10:26 AM EDT
Natural gas markets have broken down significantly during the trading session on Friday, peeking through the $2.00 level.
In this article: UNG
Oil Prices Soar On Libyan Shutdown
Article By:
Daily Forex
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Monday, January 20, 2020 7:50 AM EDT
Oil prices touched their highest levels in more than a week on Monday after Libya’s National Oil Corporation (NOC) announced that two big oilfields were shutting down after forces supporting the Libyan National Army closed a pipeline.
Libya Oil Disruptions
Article By:
ING Economics
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Monday, January 20, 2020 5:17 AM EDT
Oil has had a strong start to the day, with ICE Brent touching US$66/bbl in early morning trading, following reports that forces loyal to Commander Haftar in Libya blocked oil exports, as fighting in the country continues.
WTI Crude Oil Forecast: Likely To Recover In Short-Term
Article By:
Christopher Lewis
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Monday, January 20, 2020 3:20 AM EDT
The West Texas Intermediate Crude Oil market did very little during the trading session on Friday as traders began to think about the three day weekend in the United States.