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Crude Oil Spread Trading
A regular Crude Oil spread trading update by Simon Denham of Capital Spreads. For the latest Crude Oil spread trading update, click here.
Crude Oil Spread Betting, 29 Feb 08
Crude Oil hit a new high (yawn) as did, Coffee, Gold, Silver etc..the search for secure delivery seems to be hotting up. At some point the elastic band will probably hit a critical point and the whole edifice will snap back but trying to call the top is a mugs game. So unless you are long already, sitting on the sidelines would seem like a sensible thing to do.
Crude Oil Spread Betting, 28 Feb 08
Crude Oil has given up on the $100 level rather easily and it appears that the $99.50 level is rather more significant from a support/resistance level. It took quite a few goes to break above this level and we have bounced quite violently off it once already (yesterday afternoon). Dealers have now taken us down to it once more in a late fall out last night. That means traders will be watching for further buying (or the lack of it) early today.
The current crude oil spread of $99.53 - $99.59 for the Nymex April contract puts us in an interesting starting point for today’s action.
Financial Spreads » "With FinancialSpreads.com you get all the normal
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Crude Oil Spread Betting, 25 Feb 08
No comment from Simon today on the Crude Oil market. Having said that, Brent Crude Oil finished the week up $2.5 at $97 and gold rose $35 to end at $943.65. This is possibly due to the combination of higher US inflation and an increased flow of speculative money into the sectors.
Crude Oil Spread Betting, 22 Feb 08
With the price of Crude Oil rejecting the $100 level yesterday the question will be asked as to whether the 20th Feb 2008 will become the one day in history that the price of crude managed to close in three figures or will the never ending requirement to secure supply push us ever higher.
With so much of our commodity requirements coming from, shall we say, the not always friendly, parts of the globe the fear over flow disruption is unlikely to fade. Our main Crude Oil supplies come from places such as Russia, Nigeria and the Middle East, countries which have very little inclination to be particularly amenable with the Western economies. The Far East has always been more accommodating towards the little foibles of the commodity rich nations and in an era of reduced availability the historical friction with the West may well work against us.
Since the late Nineteenth to Mid-Twentieth century when the UK and France exited most of their Empires the torch bearer for western values has generally been the US. Their heavy handed diplomacy over the last decade or so may well come to haunt us all in the coming years.
Crude Oil Spread Betting, 21 Feb 08
Crude Oil is back up to the $100 level as OPEC removes the possibility of new production increases…and it looks like the Oil inspired inflation effect will continue to filter through into other commodity units.
Financial Spreads » "With FinancialSpreads.com you get all the normal
advantages of Spread Betting plus..." » read Financial Spreads review.
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Crude Oil Spread Betting, 20 Feb 08
Markets were in a bearish mood last night as the price of commodities surges virtually across the board from metals to energy and softs. Looking at the data this morning the only sector that seems not to have moved strongly higher is the various meat products (Lean Hogs, Live Cattle) on the Chicago exchanges.
Whilst the world has concentrated on the price of Gold and Oil, the other commodities have been just as extraordinary. Renewables (such as corn, oats etc) are some 40% higher than last summer and others like Natural Gas and Heating Oil are 20 to 25pc up on last month. But the real zinger has been the price of platinum which has managed to move from $1,550 in late January to a closing price of $2,145 last night.
For more on this topic see today's "High Commodities Prices" Feature.
Crude Oil Spread Betting, 18 Feb 08
The Crude Oil markets has been quiet of late so no comment from Simon today.
Having said that, looking at the last week of trading, colder weather in the US, and the ongoing dispute between Exxon and Venezuela saw Brent Crude Oil price rise $3 to $94.63.
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