{"id":11949,"date":"2015-06-17T22:20:19","date_gmt":"2015-06-18T02:20:19","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=11949"},"modified":"2015-06-17T22:20:19","modified_gmt":"2015-06-18T02:20:19","slug":"crude-where-next","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2015\/06\/17\/crude-where-next\/","title":{"rendered":"Crude: Where next?"},"content":{"rendered":"

Nymex Light Crude plotted against CPI gives an historical perspective on current crude prices: high prior to China’s entry into the global energy market, but low relative to prices since then. Expect strong support at the 2008 low.<\/p>\n

\"Nymex<\/p>\n

Has fracking permanently suppressed oil prices, or will production dwindle over time in response to lower prices? Oil well efficiency is rising as marginal wells are mothballed.<\/p>\n

\n

Chart: Rising oil well efficiency in the US – pic.twitter.com\/5w54OqyxKJ<\/a><\/p>\n

— SoberLook.com (@SoberLook) June 15, 2015<\/a><\/p><\/blockquote>\n

 <\/p>\n

Production forecasts are rising.<\/p>\n

\n

US shale still refuses to buckle. Not sure OPEC really winning here. From Deutsche Bank's latest pic.twitter.com\/Z7wHxv3yrl<\/a><\/p>\n

— A Evans-Pritchard (@AmbroseEP) June 16, 2015<\/a><\/p><\/blockquote>\n

 <\/p>\n

Causing oil futures to fall. June 2020 Light Crude broke support at $70\/barrel, offering a target of $55\/barrel.<\/p>\n

\"June<\/p>\n

* Target calculation: 70 – ( 85 – 70 ) = 55<\/p>\n

Spot prices (Nymex Light Crude) continue to range between $58 and $61 per barrel. Reversal below $58 would signal retracement to test medium-term support at $54. Breakout above $61 is unlikely at present, but would signal a rally to $68\/barrel.<\/p>\n

\"Nymex<\/p>\n","protected":false},"excerpt":{"rendered":"

Nymex Light Crude plotted against CPI gives an historical perspective on current crude prices: high prior to China’s entry into the global energy market, but low relative to prices since then. Expect strong support at the 2008 low. Has fracking permanently suppressed oil prices, or will production dwindle over time in response to lower prices? … <\/p>\n

Continue reading “Crude: Where next?”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44],"tags":[495,897,901,1451,2529,2559],"class_list":["post-11949","post","type-post","status-publish","format-standard","hentry","category-crude-oil-natural-gas","tag-brent-crude","tag-crude-futures","tag-crude-production","tag-fracking","tag-nymex-wti-light-crude","tag-oil-well-efficiency"],"yoast_head":"\nCrude: Where next? - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude: Where next? - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Nymex Light Crude plotted against CPI gives an historical perspective on current crude prices: high prior to China’s entry into the global energy market, but low relative to prices since then. 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At the height of the 2020 pandemic, Nymex WTI crude oil prices fell to an unprecedented low of -$13.10 per barrel as demand dried up and oil storage facilities reached capacity. Producers faced a\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Nymex WTI Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-14-crude3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-14-crude3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-14-crude3.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10872,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/12\/gold-crude-fall\/","url_meta":{"origin":11949,"position":3},"title":"Gold & crude fall","author":"ColinTwiggs","date":"September 12, 2014","format":false,"excerpt":"Gold broke support at $1240\/ounce to signal a primary down-trend. Declining 13-week Twiggs Momentum, below zero, strengthens the signal. Follow-through below $1200 would confirm. The sell-off is being driven by a rising Dollar. Crude oil is also falling, with Brent Crude testing its 18-month low. Nymex breach of $92\/barrel would\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Spot Gold","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-12-gold.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-12-gold.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-12-gold.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":44355,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/09\/29\/falling-us-oil-inventories-warn-of-further-price-rises\/","url_meta":{"origin":11949,"position":4},"title":"Falling US oil inventories warn of further price rises","author":"Colin Twiggs","date":"September 29, 2023","format":false,"excerpt":"Nymex light crude retreated to $91.71 per barrel -- retracing to test the new support level at $90. Respect of support would signal a fresh advance with a short-term target of $100. Weekly crude oil inventories (including the SPR\/strategic petroleum reserve) have fallen to their lowest level since the 1980s.\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Nymex Light Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-09-28-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-09-28-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-09-28-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10569,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/08\/07\/falling-crude-prices-are-good-news\/","url_meta":{"origin":11949,"position":5},"title":"Falling crude prices are good news","author":"ColinTwiggs","date":"August 7, 2014","format":false,"excerpt":"Crude oil prices are falling sharply. Nymex Light Crude broke support at $98\/barrel and Brent Crude is testing support at $104. Breach of that support level would confirm a primary down-trend. The theory has been bandied about that lower crude prices are a Barack Obama strategy to deter Vladimir Putin\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/commodities-gold-commodities\/"},"img":{"alt_text":"Nymex WTI Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-07-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-07-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-07-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/11949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=11949"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/11949\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=11949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=11949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=11949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}