Reuters reports that the PDVSA awarded an 8 million barrel tender for light sweet crude to BP and China
Implied volatility, WTI…
Here is a chart of implied volatility going back to November 14th, 1986 which was the first day that WTI options traded on the New York Mercantile
Storage at sea not profitable… Bloomberg
Here is the link: http://www.bloomberg.com/news/articles/2016-03-21/why-the-global-oil-glut-might-not-fill-swimming-pools-after-all "The biggest
Signs of a Bottom?
This is from today's WSJ, "Airlines Pull Back on Hedging Fuel Costs"
The “Dogs” of The Economist…
The Economist carries a table in which the % change of selected equity markets around the world are listed... Often times, places where the news seems
More oil due to recent rally?… FuelFix
Fuel Fix quotes the IEA Suggesting that the recent rally could bring some marginal production online: "“If prices keep rising, we could find that
Trade with China/US Labor Markets… EconTalk
David Autor, MIT, talks to Russ Roberts on the impact of trade with China on US labor
US Oil Exports… Bloomberg
Here is one takeaway: "The exports could relieve pressure on storage capacity in the U.S. after stockpiles rose to the highest level in official data
Help is on the way…
or is it? Whenever I start getting bullish on crude oil, I look at the weekly US oil stocks chart from the EIA's This Week in Petroleum: