William Carrigan's  Instablog

William Carrigan
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Global oil and U.S. natural gas analyst, well-versed in the fundamental analysis of supply and demand factors that drive energy prices. Experience analyzing relative value and the technical indicators that determine short to medium-term trading trends
My company:
Technimental Oil and Gas Research
  • Energy Market Review For December 3, 2012. 0 comments
    Dec 4, 2012 7:19 AM

    Oil prices were mixed as WTI rose and Brent fell today. The Chinese PMI rose above 50 for the first time in over a year, while the country's National Bureau of Statistics released a survey that showed expanded manufacturing in November, driving increases in Brent and WTI prices early in the trading day. The positive news, however, was muted by ISM data that showed U.S. manufacturing slowed in November to a three year low, causing Brent to close in the red and WTI to trim gains after topping $90 per bbl earlier in the day.

    Debt talks in the US appear to be going nowhere as House Republicans and the White House remain at odds in their efforts to avert the fiscal cliff. Tensions in Syria continue, along with protests in Egypt, driving fears about potential oil supply disruptions.

    The Jan '13 WTI contract rose $0.18 to 89.09 per bbl, while the Jan '13 Brent contract declined $0.31 to $110.92 per bbl. Natural gas increased $0.03 to $3.591 per mmbtu (Jan '13 contract). The HOF13 contract was lower by $0.0045 to $3.0562, while the Jan '13 RBOB contract slid $0.0038 to $2.7265.

    We believe the best way to evaluate our research and its added value to your organization is to request a free trial to our daily newsletter. For a free two-week trial, please send an email to trial@technimental.com, along with your contract information.

    Disclosure: We have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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