Showing posts with label oil crisis. Show all posts
Showing posts with label oil crisis. Show all posts

Sunday, March 6, 2011

Special Market Report: Oil Prices - Fundamental Data vs. Fear in Libya & Middle East

Special Market Report: Oil Prices - Fundamental Data vs. Fear in Libya & Middle EastSocialTwist Tell-a-Friend
*CORRECTION: Date filmed - Friday, March 4, 2011.  
Dr. Joel Fingerman, founder of joins Hamzei Analytics Educational Video Series from the Floor of the CME Group, to share with us critical oil and gasoline data relevant to the recent $15 jump in crude oil prices from concerns over Libya and the Middle East. Dr. Fingerman notes that the amount of oil Libya supplies is not critical and other OPEC countries can easily replace Libya's production. Also, the U.S. has a high supply of oil and gasoline in stock. So, looking at the NYMEX oil contracts open interest at highs, Dr. Fingerman believes that high oil prices are due to speculation and not based on the fundamentals.

Table of OPEC oil producing countries including Libya

U.S. Oil Stockpile

U.S. Gasoline Stockpile

NYMEX Non-Commercial Net Crude Open Interest

**Filmed Friday, March 3rd at 5:30pm CT from the trading floor at the CME Group.

Disclaimer and Terms of Service

© Copyright 1998-2023, Hamzei Analytics, LLC. Hamzei Financial Network is published by Hamzei Analytics, LLC, Naples, FL 34112, (310) 306-1200. The information herein was obtained from sources which Hamzei Analytics, LLC believes are reliable, but we can not and do not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that Hamzei Analytics, LLC or its principals may already have invested or may from time to time invest in securities or commodities that are recommended or otherwise covered on this website. Neither Hamzei Analytics, LLC nor its principals intend to disclose the extent of any current holdings or future transactions with respect to any particular security or commodity. You should consider this possibility before investing in any security or commodity based upon statements and information contained in any report, post, comment or recommendation you receive from us. The content on this site is provided as general information only and should not be taken as investment or trading advice. Any action that you take as a result of information, analysis, or conclusion on this site is ultimately your responsibility. Always consult your financial adviser(s) before making any investment or trading decisions.