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WEDNESDAY EDITION July 23rd, 2014 |
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The Energy ReportPhil Flynnhttp://www.pricegroup.com/ pflynn&pricegroup.com The Phil Flynn Energy Report Tuesday July 22nd 2014 Cushion in Cushing August crude is going off with a bang as violence in the Gaza strip and fears of Russian sanctions is coming ahead what some people fear will be a big drop in Cushing Oklahoma supply. Cushing Oklahoma of course is the delivery point for the West Texas Intermediate contract and we saw August crude go on a tear as some must fear a mini squeeze play. The market reacted in part to a Genscape report that said that supply at the Cushing, Oklahoma, delivery point for the U.S. crude contract fell by more than 900,000 barrels. That raised concerns about the availability of deliverable supply. This comes as Midwest Refinery runs climbed to 16.6 million bpd last week, the most ever in the weekly Energy Information Administration data going back to 1989. Midwest refiners operated at 101% of capacity spitting out more product that their stated capacity as they lusted for those cheap as they lusted for those cheap high quality crude high quality crude blends that gave them stellar margins. The market is also worried about renewed fighting between militias and the Libyan government. The main reason we saw such a strong break in oil a couple of weeks ago was that we were supposed to see Libyan oil come back into the market place as rebels and the government came to terms. Maybe those terms are still shaky. RBOB also popped on rumored refinery issues. Natural Gas plunged along with temperatures but a brewing Atlantic storm may heat things up a bit. Tropical Depression number 2 has formed in the Atlantic. While the track right now is pretty far south it could become an issue for the market next week. The battle between the bulls and bears in Gold and Silver continues. While geo-political risk gets all the headlines, physical and ETF demand has been rising. Shorts have been weakened and if we get the right type of headline we could see a massive short covering rally. It may be a great time to buy calls. You can now follow me on Twitter at energyphilflynn you can also like me on Facebook. If you have any questions or if you want to get my wildly popular trade levels call me at (888-264-5665) or Email pflynn@pricegroup.com. If you want to start trading apply by hitting this linkhttps://newaccount.admis.com/?office=269. There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Phil is one of the world's leading energy market analysts, providing individual investors, professional traders and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline and energy markets. Phil's market commentary, fundamental and technical analysis, and long-term forecasts are sought by industry executives, investors and media worldwide. PLACING CONTINGENT ORDERS SUCH AS "STOP LOSS" OR "STOP LIMIT" ORDERS WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED AMOUNTS. SINCE MARKET CONDITIONS MAY MAKE IT IMPOSSIBLE TO EXECUTE SUCH ORDERS. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. Alaron Trading Corp. its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Contact Phil at 800-935-6487 or pflynn&pricegroup.com. |
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WEDNESDAY EDITION July 23rd, 2014 © 2014 321energy.com |
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Robert J. Moriarty