johntrade Posted March 1, 2011 Report Share Posted March 1, 2011 The energy sector had a very bumpy ride as tension in Libya mounted a full on rally to help blast crude above $100 in the earlier part of the week to above $103. The market has since seen a pullback to $95 with another rally to start the week to $99.90. WTI spreads have rallied on the back of this news with Z11//Z12 at one point above $4.00. Look for a buying opportunity in flatprice around $95 again as prices are likely to be very volatile until the tension ceases. Link to comment Share on other sites More sharing options...
drbubb Posted March 2, 2011 Report Share Posted March 2, 2011 The energy sector had a very bumpy ride as tension in Libya mounted a full on rally to help blast crude above $100 in the earlier part of the week to above $103. The market has since seen a pullback to $95 with another rally to start the week to $99.90. WTI spreads have rallied on the back of this news with Z11//Z12 at one point above $4.00. Look for a buying opportunity in flatprice around $95 again as prices are likely to be very volatile until the tension ceases. Oily stocks are not participating much in the latest rally, and that (on its own) suggests the move up is very tired Here's the CRB* etf versus Bond Yields (TNX) and Oil Service (OIH) and Major Oil stocks (XLE) ... update *CRB is mainly driven by Energy prices, with food and precious metals also important. Exhibiting an IMPORTANT non-confirmation: TNX, OIH, and XLE appear to have turned down days or weeks earlier. Link to comment Share on other sites More sharing options...
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