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Energies Higher on Demand


With another new high for the move early today, the trend in the August crude oil contract remains up especially given an extension of global economic optimism. Apparently current supply and demand conditions have allowed Saudi Arabia to raise their August crude oil prices into Asia by one full dollar and that suggests demand is strong! It should also be noted that term structure pricing in Brent crude oil futures remains bullish and expectations of continued contraction in North American supply remains in a front and center position.


With the US temperature forecast dramatically expanding the above normal temperature area to further to the west and north, a huge psychological lift from a buyout in the natural gas transportation storage space and a supportive weekly US injection reading from last week the range up extension this morning is not that surprising. The weekly natural gas storage report showed an injection of only 65 bcf. Total storage stands at 3077 bcf or 17.8% above the 5 year average. Over the last four weeks natural gas storage has increased 363 bcf.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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