10/2/2015 Market Update

By: Peter Haralambakis / October 2, 2015

The following is a list of items that are impacting the market today:

-          The just released jobs report which was lower than expectations (142,000 jobs added in September vs. 200,000 expected)

-          China’s imports of crude remains down

-          Russian bombings into Syria creating geopolitical tensions

-          Hurricane Joaquin veering away from a direct hit on the US


As a result, as of the time of this writing the diesel and gas futures market is down .02 cents to .05 cents while crude oil is slightly down.  

These points have led one prominent financial analyst to predict that a rebound could be near stating  “when there’s bad news and something doesn’t decline, it usually means it’s at a bottom and will be turning.”

Please see the three pictures below as “a picture is worth a thousand words.”

Picture 1) Yesterday’s closing numbers

Picture 2) Joaquin’s projected near miss

Picture 3) Crude’s six-month price chart 

Have a great weekend!

 

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Categories: Daily Market Update


Peter Haralambakis

Written by

Peter Haralambakis

Peter Haralambakis is a Supply and Trading Business Development Manager at Guttman Energy with over 13 years of experience in commodities trading, analysis, and risk management in products ranging from Corn and Soybeans to Crude Oil Futures and Options to Financial and Physical Biofuels to Natural Gas and Natural Gas Liquids.


Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.


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