Nova Energy Market Insights
Nova Energy Market Insights provides actionable information through the analysis of market trends, pricing models, and industry news. The blog delivers Nova Energy clients a customized perspective into the financial markets that have a direct impact on their business today.
Market Overview Intermarket relationships are giving mixed signals as crude and product pricing tries to find direction. US Dollar performance and the trend on Eurodollar yields point to short-term gains across the energy complex while global equities suggest bearish price action going forward. Last week’s Oil Market Report released by the IEA on March 15th …
Technicals Looking Bearish for Crude and Products, Waiting for Fundamental Catalyst Read More »
Market Overview A strong close in US equities and moderate weakness in the US Dollar saw WTI futures bounce from $60.00 to $62.30 during late week trading. However, OPEC jitters over the weekend led to a good deal of profit taking as hedge funds continue to liquidate their net long exposure. The charts remain bearish …
Technicals and Shaky OPEC Compliance Point to Further Losses Read More »
Market Overview US crude oil and products bucked the trend following a week of high volatility containing statements from Chairman of the Fed, Jerome Powell and tariff threats out of the White House. Last Tuesday, Jerome Powell signaled business as usual for the Fed, which marks a continuation of Janet Yellen’s preferred strategy of gradual …
Fed Speak and Tariff Threats Spook the Energy Complex Read More »
Event Risk USD Powell’s Congressional Testimony is Released: Tuesday @ 8:30 am EST USD Advance Goods Trade Balance: Tuesday @ 8:30 am EST USD Durable Goods Orders: Tuesday @ 8:30 am EST USD Powell Testifies to House Financial Services Committee: Tuesday @ 10:00 am EST EUR German Unemployment: Wednesday @ 3:55 am EST EUR Euro-Zone …
Economic Indicators: FOMC Meeting Minutes from January 31 meeting: February 21 @ 2:00 pm EST GBP Gross Domestic Product 4Q: February 22 @ 04:30 am EST JPY National Consumer Price Index: February 22 @ 6:30 pm EST CAD Consumer Price Index: February 23 @ 8:30 am EST Energy and Global Markets The US Dollar and …
Hedge Funds Hold Net Positioning Steady Despite Fall in Crude Prices Read More »