by Gary S. Morrow | Nov 17, 2021 | Commentary
Think again…The US gets 18x more energy from hydrocarbons as it does from wind and solar combined. Hydrocarbons will dominate for decades to come. More here: The myriad claims being made by climate activists, politicians, and elite academics that we can run our...
by Gary S. Morrow | Nov 17, 2021 | Charts
Brent crude oil spot prices averaged $84 per barrel (b) in October, up $9/b from September and up $43/b from October 2020. Crude oil prices have risen over the past year as result of steady draws on global oil inventories, which averaged 1.9 million barrels per day...
by Gary S. Morrow | Jul 13, 2021 | Charts
U.S. gas prices now average over $3.20/gallon after a 40% gain this year. Higher gas prices act just like a tax increase, a direct hit on the lower and middle class. Hat tip Charlie Bilello
by Gary S. Morrow | Jul 2, 2019 | Market Update
Heavy resistance(50/200D moving averages) has capped the last two weekly highs. USO held the 40W moving average at last week’s low, will it hold this week’s low? We are long USO in some managed accounts.
by Gary S. Morrow | May 31, 2019 | Chart of the Day, Charts
Crude($USO) is heading for its second straight weekly loss of over 6%, the two worst weeks of 2019. The USO will also finish out this week below the declining 40 week moving average, the first weekly close below this MAV since March 15th. Needless to say, overhead...
