Theme for 8-31

Will they or wont they Hike In September,this hangs over market. Fridays jobs will go a long way in tipping scales one way or another.As of this morning 38% chance of Fed hike

Month End flows.

OIl: Bullish news
Updated Monthly oil data from EIA,using New methodology shows oil production was lower than initially reported by 100k a day for first half of year.
China has been taking advantage of Lower oil to stock her SPR.It was reported earlier today that china bought a record 36 million barrels over the month  of August

10:00

OPEC on wires saying  that dont want oil price to drop so far that cuts Development of new wells.Saudi Oil output for Aug. dropped 70k a day

11:00

  •  OPEC willing to talk to partners about OIl price
  • Run  up in oil has  shifted higher Fed hike probability  to 40%

1:00  Weekend Fire  in Alberta Canada puts synacrude out put at risk  bullish for WTI due to cushing supply drop

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.