Agree!

Since March 19th crude (CME CL) has stayed in a tight trading range of about $5. It's wise to wait for a break in either direction before getting back in.

It doesn't seem like Nat Gas is benefiting from these higher oil prices. Another down week looks very likely:

Once it broke through that $59 handle it sold off hard. Not looking good for WTI longs. I've been reading it's weakening on a weaker demand outlook. We'll see what happens tomorrow as trading is seeing some thinner holiday volume.

Crude continues to fall. Some pretty important support at the $59 level:

Gold (CME futures) has been in about a $10 trading range since opening up this week. With most of the world on a holiday I don't expect much. But we do have some pretty important US data coming out in about at hour. Even though it looks like some ...

I'm not expecting much liquidity today as most of the world is on a holiday. But remember US markets are open and things seem to getting a little volatile across asset classes. Probably temporary. I expect crude to stay in this relatively tight ...

Market isn't liking the talk of output hikes. Heavy selling in WTI:

Gold futures back above the 1700 handle.

After the price action in the last hour, I think the inventory data could move WTI in either direction. Crazy reversal. We'll see!

Starting in the European session WTI began to sell off. Look out, we have Crude Oil Inventories in about an hour. The market will be more likely to sell WTI on a larger than expected build/smaller than expected draw. Forecasts are all over the place ...

OPEC+ panel is revising down oil-demand estimates: Delegates - This could change the outlook for the OPEC meeting. A surprise from the Saudis in either committing to extended cuts for a longer period of time or something else along those lines is ...

Everybody thought that ship was going to be stuck until later this week.

OPEC is widely expected to keep production the same but what we need to listen out for is when they think they'll need to change it. They may say nothing at all and that would make this meeting a dud. I think OPEC likes where prices are at right ...

Big deviation from forecast on Nat Gas Storage data!

Forgot to mention this yesterday. This was definitely part of what was driving up oil prices yesterday, along with what I mentioned here. But now it's a new day and time for another roller coaster ride on the WTI train.

Next week is the OPEC+ meeting on Thursday. It looks like Saudi Arabia will continue to be the swing producer and keep production as is no matter what Russia or anybody else does. That's positive for oil prices. It could be what we are seeing being ...

Yup. Trading crude is the easiest way to blow up an account. I wouldn't call this a dead cat bounce. The positive vaccine news out of Europe along with OPEC+ news that they'll keep production the same at the April meeting has been the two major ...

Hearing a lot of profit taking has recently occurred in copper. It's been stalled the past couple of weeks but on very heavy volume. Although it's due for a correction, it's tough to justify taking a short position. Below is the CME HG continuous ...