Oil Wavers Despite OPEC Cuts… WSJ – Commodity Research Group

February 2, 2017 by Jim Colburn Leave a Comment

Tim Puko does a nice job laying out the bullish/bearish case here http://www.eia.gov/petroleum/weekly/

“No amount of oil put in storage in the U.S. was enough to dampen the optimism caused by the first estimates of OPEC’s January production,” brokerage PVM said.”…

“But the tight range of this winter’s trading has others worried. U.S. oil prices have settled in a $3.24 range in every session but one since Dec. 1. This, despite a record high bullish position from money managers, who had more than eight bets on rising oil prices for every one on falling oil prices as of Jan. 24, according to regulatory data.”

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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