The price of light, sweet crude jumped by as much as 4.6 percent on Wednesday morning, with the biggest gain coming just after the Energy Information Administration released its weekly tally of U.S. oil inventories.
Christmas Comes Early
Commercial crude stocks fell by nearly 6 million barrels last week, which sounds bullish until you remember one thing: Oil inventories usually fall in December. They have in all but 28 of the last 95 years, according to EIA data. The last two years that they increased -- 2008 and 2014 -- were marked by a crisis in the global economy and a crisis in OPEC, respectively.
What's more, if you look all the way back to 1920 -- when the EIA's data on crude oil stocks begins -- December stands out for having the biggest drops in oil inventories of any month.
Dude!!!! WTF studies HIS-Story? It's like totally UnCool to know stuff that like happened before. We are interested it Stuff the Will Happen so we can get rich. (SARC)
BuyEURAUD Entry: Target: Stop: Top Trading Opportunities for 2016
2016 brings more challenges for the Eurozone economy. While the ECB is comfortable with the current level of monetary policy they will need to extend bond purchases beyond September 2016. September is only a soft target and we can't see a scenario where growth or inflation will improve enough 9 months forward to warrant a reduction in stimulus. Also, if inflation and growth do not make significant upside progress, the ECB may need to expand the program in the coming year. The ECB's decision to provide additional stimulus in December reflected their sense of urgency and their overall concern about the economy. Their efforts are paying off as there have been signs of recovery in the Germany but meaningful risks lie ahead. The prospect of further weakness in emerging markets, particularly China, unstable geopolitical situations in the Middle East and Russia, high unemployment, stagnant wages are just some of the problems posing downside risks for the Eurozone in 2016. Countries in the region will benefit from the new round of stimulus, weaker euro and low oil prices but the benefits will be slow to come. France and Italy have not made much progress in terms of growth and while Spain is doing well it is only the fourth largest economy in the region. The fiscal position of most Eurozone nations is also very weak with only a handful producing a budget surplus in the past 3 years. The largest sector, financials will suffer from negative deposit rates. Debt levels are high and major progress towards reducing that burden is not expected over the next 12 months.
Crude Oil: +2.600 vs. -1.000 exp vs. -5.877 prev.
Gasoline: +0.930 vs. +0.770 exp vs. +1.111 prev.
Distillates: +1.800 vs. +1.260 exp vs. -0.661 prev.
Cap/Util: 92.6% vs. n/a exp vs. 91.3% prev.
Oil getting a lift on reports Iranian President Rouhani ordered an expansion of the missile program in response to U.S. sanctions- IRNA
GVI Forex john bland 17:06:06 GMT - 12/31/2015
Higher oil helps S&P. Higher stocks are often a weight on EURUSD.
Livingston nh 17:29:50 GMT - 12/31/2015
The US may find out that the "new" improved sanctions (soft power) play right into the hands of the oil nations - and the Climate Changers -- and the Fed -- nobody wants cheap oil anymore
Iran is still using a copy of the successful NK Playbook to diddle the US
The risk is that US sanctions on Russia and Iran may be ignored by most of its allies so enforcement becomes questionable - if that happens you can't put the toothpaste back in the tube // never ever confuse a suggestion with a law -- enforcement is the key -otherwise "so what who cares" is the response
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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