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FRIDAY EDITION September 30th, 2016 |
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The Energy ReportPhil Flynnhttp://www.pricegroup.com/ pflynn&pricegroup.com The Energy Report 09/30/16 Now It Is About Demand Oil prices soared in the aftermath of the first OPEC deal in 8 years and now we have to look at the demand side. While the historic OPEC and soon to be Non- OPEC accord will put a floor under prices demand fears are causing a bit of ahead of weekend profit taking. Deutsche Bank shares hit new 30-year lows after 10 hedge funds cut their exposure to Germany's largest bank and that is causing of economic contagion. That contagion may hit oil demand that has been strong. So some profit taking is in order. Still oil may rebound as the US rig count now matters more now that OPEC has shown restraint. The oil market will want to see if the OPEC accord will lead to a big rebound in US shale oil output. USA Today reports that "Matthew strengthened into a hurricane Thursday in the eastern Caribbean Sea, the National Hurricane Center said Matthew is forecast to take a sharp northern turn over the next few days and could threaten the U.S. sometime next week. Before then, it is a threat to Jamaica, Haiti, the Dominican Republic, Cuba and the Bahamas. As of 5 p.m. ET Thursday, the storm was located 150 miles north-northeast of Curacao and was moving to the west at 17 mph. It had sustained winds of 75 mph, making it a Category 1 hurricane." This will slowdown shipping in the Gulf of Mexico. Make sure you watch the Fox Business Network. I will be traveling today call my team at 888-264-5665 or email me at pflynn@pricegroup.com 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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Robert J. Moriarty