- New Wyoming Lithium Deposit could Meet all U.S. Demand
May 03 2013 9:23 AM
The U.S. currently imports more than 80% of the lithium it uses, with the silvery metal winding up in batteries from cell phones to electric cars. According to a United States Geological Survey publication on lithium, “The only commercially active lithium mine in the United States was a brine operat ion in Nevada. The mine’s production capacity was expanded in 2012, and a new lithium hydroxide plant opened in North Carolina. Two companies produced a large array of downstream lithium compounds in the United States from domestic or South American lithium carbonate, lithium chloride, and lithium hydroxide. A U.S. recycling company produced a small quantity of lithium carbonate from solutions recovered during the recycling of lithium ion batteries.”
- Oil trading either side of unchanged
May 03 2013 8:35 AM
The battle between a weakening fundamental picture for the oil complex against the very aggressive easy monetary policy in the US, Japan, UK , Europe and even India are creating a choppy and volatile short term trading pattern. Yesterday's rally in the oil complex was actually led by WTI even after the EIA reported a surge in crude oil inventories pushing the total level to an eighty two year high. Certainly Thursday's move was all about the massive amount of liquidity that is hitting the market by the aforementioned Central Banks offsetting the slowing oil demand growth scenario… at least for the moment.
- Nat Gas prices slightly higher to start the session
May 03 2013 8:27 AM
Nat Gas futures are starting the last trading day of the week where it left off on Thursday… struggling to go higher. The spot futures contract actually breached a second support level ($4/mmbtu) in overnight trading but has subsequently moved slightly above the support area as of this writing. Yesterday's EIA inventory report was simply bearish and very disappointing to the growing number of bulls that have entered the market over the last few months. The latest winter surge in Nat Gas demand may finally be coming to an end as the colder than normal spring temperatures may be stating to move more toward real spring like weather and thus a period of lower Nat Gas demand.
- Brent Up On Fiscal Policy Decisions
May 03 2013 8:12 AM
Brent crude oil strengthened on Friday morning after US jobs data and central bank policy meetings were all reported in the commodity's favor. Brent steadied at $102.71 at 7:45 GMT on Friday morning.
- Oil higher ahead of ECB announcement
May 02 2013 8:23 AM
From a fundamental viewpoint oil remains driven by a weakening demand picture. In addition supply remains robust as evidenced by yesterday's huge build in crude oil stocks reported by the EIA which is now sitting at an eighty two year high according to Bloomberg. The macroeconomic data continues to validate the weakening oil demand growth scenario as most of the economic data issued over the last few months point toward a slowing of the global economy.
- Nat Gas looking like it is setting up for another test of $4.40 level
May 01 2013 9:52 AM
Once again Nat Gas futures were unable to get through what is looking like a relatively strong resistance level around the $4.40/mmbtu area for the spot Nymex contract. That said prices have been hovering near the upper range resistance level for most of the last two weeks. The late start to normal spring like weather has been one of the main fundamental price supports along with the simple fact that inventories are significantly below last year and modestly below the more normal five year average.
- Brent Settles Lower on Demand Woes
May 01 2013 9:27 AM
A cloudy global economic future coupled with rising supply caused Brent crude oil to begin May on shaky ground as the commodity weakened on the first of the month. Brent fell to $101.52 at 9:44 GMT on Wednesday morning amid poor economic data and rising supply speculation.
- UK Ministry of Defense Deems Wind Towers a National Security Threat
April 30 2013 9:17 AM
Twenty-plus years on, the collapse of the USSR in 1991 threatened massive Western defense budgets, bereft of a major enemy like the “Evil Empire.” Western militaries conveniently found a new global enemy a decade later following the terrorist attacks on 11 September 2001, and since then, they have struggled in the light of invasions of Iraq and Afghanistan to adapt their strategies to cope with the new threat, making defending the “homeland” the highest priority.
- Oil prices drifting lower
April 30 2013 8:45 AM
The oil complex inched higher pushing all of the commodities in the complex to near the upper end of their respective trading ranges. At the moment the technical driven rally in oil prices is offsetting the fundamental view that supply is robust and demand is faltering in sync with the slowing global economy. The upside momentum picked up as Monday's trading session progressed after starting the week in negative territory. The market has not only been driven by a technical short covering rally but the oil complex has been relatively in sync with the equity markets… especially the western bourses. Yesterday the US and European equity markets moved higher with the US S&P notching a new all-time high providing short term support for oil and other commodity prices along the journey.
- Brent On Track to Post the Largest Monthly Loss in Nearly a Year
April 30 2013 8:35 AM
On the final day in April, Brent crude oil looks poised for the largest monthly decline in almost a year. The commodity has been under heavy pressure this month as weak economic data from the world's largest oil consumers piled up. Brent traded at $103.55 at 5:55 GMT on Tuesday morning, the result of optimistic hopes for global economic stimulus.
- Oil prices mixed to start the trading week
April 29 2013 8:25 AM
As discussed in the newsletter two weeks ago I suggested that the oil complex was in the early stages of forming a technical bottom pattern. I also said this was the second try at forming a bottom in the month of April with the first attempt in the beginning of the month. The first try failed but so far the second attempt has been successful pushing all of the commodities in the complex into a new higher trading range or the range that was in play during the first half of April. At the moment the complex is still in a recovery trend that has been driven more by short covering rather than by a surge of new longs moving back into the market. From a technical perspective the market is still trading in the higher trading range but it is starting to look like the upside momentum may be starting to lessen over the last two trading sessions.
- Nat Gas starting week in positive territory
April 29 2013 8:20 AM
The new spot June Nymex Nat Gas contract has mostly followed the trading pattern of the expired May contract over the last several trading sessions. The June contract also made several passes at breaching the upper range resistance level of $4.40/mmbtu and also failed. So far this morning in overnight trading the market is starting out on a positive note and is now sitting in about the middle of the trading range. Technically the market is suggesting a range bound trading pattern for the short term as traders and investors look toward the fundamentals for more medium term guidance.
- Brent Slips After Last Week's Gain
April 29 2013 8:11 AM
After falling more than six percent in April, Brent crude oil sagged on Monday and lost some ground as it slipped below $103 on worries about the global economic outlook. The commodity fell to $102.64 at 6:06 GMT on Monday morning following last week's impressive gains. China will have a large influence on Brent prices this week as new manufacturing data for April will be released. According to Reuters, the oil consuming giant's manufacturing sector is expected to show improvement from March's figures. However, the HSBC purchasing managers' survey painted a bleak picture for the nation, and caused many to rethink their predictions for a Chinese recovery. The data showed that the Chinese industrial sector shrank and new exports decreased.
- Polar Star Mining Drill Program at Chépica Site Shows Promise
April 26 2013 1:57 PM
Polar Star Mining completed its 16-hole, 2,500-meter surface drill program at its Chepica gold/copper mine project, near Talca, Chile.
- Nat Gashovering near range support
April 25 2013 8:22 AM
Heading into this morning's EIA weekly Nat Gas report the futures market is hovering around the trading range lower support level and barely remaining above it. In yesterday's newsletter I indicated that the market was setting up for a test of the range support level of $4.16/mmbtu and so far in light overnight trading the first pass at that test has already occurred with prices holding support so far. However, there is a lot of trading time left to the day with Europe trading just getting underway and the US yet to get started. In addition today the EIA inventory report will likely play a role in whether or not the range support is still in play or not by the end of the US trading session.
- Brent Ticks Up on Weaker Dollar
April 25 2013 8:07 AM
Brent crude oil climbed higher on Thursday morning and traded at $101.49 at 8:37 GMT. The commodity picked up after data showing the US economy was weakening weighed on the dollar. The state of the global economy has been pressuring Brent prices as some of the world's largest oil consuming economies released disappointing data this week.
- OIl steady ahead of EIA inventory report
April 24 2013 9:12 AM
Firming equity markets in the US were enough to bolster oil prices after their negative start on Tuesday reversing the selling from the decline in China's PMI data. The oil complex has been under pressure for the last several weeks as the market focuses on a weakening oil demand scenario on the back of a slowing global economy. Most of the macroeconomic data hitting the media airwaves over the last several weeks has been suggesting that economies in both the developed and emerging market world may be heading for a period of slowing… even the main economic and oil demand growth engine of the world China.
- Nat Gas trading either side of unchanged
April 24 2013 9:07 AM
The spot Nymex futures contract is settling into the trading range that has now been in play since the middle of April. The market has failed three times to breach the upper range resistance level of $4.40/mmbtu and is now currently inching closer toward a possible test of the lower range support area of $4.16/mmbtu. From a technical perspective the upside momentum that was in place since mid-February has certainly faded while the market does not seem ready for a strong downside correction.
- Brent Climbs to $100 on Supply Tightening Speculation
April 24 2013 9:02 AM
Brent crude oil traded above the $100 mark on Wednesday morning on speculation that OPEC would make the necessary adjustments to increase the commodity's price if it remained below $100. Brent traded at $100.85 at 9:10 GMT on Wednesday morning. After keeping oil output constant at December's meeting, some OPEC members have called for an emergency meeting to tighten up supply. The organization, which supplies more than one third of the world's oil, is set to meet on May 31st for a regularly scheduled meeting.
- US Dependent On 5 Countries For Oil
April 23 2013 1:42 PM
The concentration of U.S. crude oil imports among its top-five suppliers is the highest since 1997.