Oil is setting up for a turbulent year.
It doesn’t make for a rosy outlook.
“We have reason to believe that Russia is eyeing a re-emergence in Cuba.”
An attribute of this oil market is its incredible ability to breed selling as it goes lower.
Delivering counter-intuitive price action even if fundamentals improve.
With $9 billion in debt and no profit in its entire history, Cheniere is priced as if the future is not just rosy, but guaranteed, and that is not the case.
Oil markets were dominated by Morgan Stanley, Goldman Sachs, JP Morgan, and other investment banks with their own proprietary trading operations and an army of participants on both sides of the trade. But now they’ve abandoned the oil market.
By Dan Dicker, Oil & Energy Insider: The IEA report on Crude supplies has got me thinking, an accomplishment for the IEA; it has been woefully behind the curve on most major energy trends of the last two decades. But this time, it is finally in front of the curve.