Phil Flynn: Currency Détente

All we are saying is give peace a chance. Global leaders on a collision course towards an all out currency war pulled back from the brink of conflict by vowing not devalue their respective currencies to try and help their export markets. Forget the fact that the US is on the precipice of a major announcement involving the printing of a bunch of greenbacks and China is looking around saying “who us?”.

The perception by the market place that the G20 will do nothing to stop a drubbing of the dollar is sending the yen soaring to a 15 year high and the oil and other commodities soaring in early trade. In fact you might wonder why the oil market is not even stronger than it is considering the fact that not only is the dollar giving us support, but also the impact on the strikes in France that are going to take a toll on US supply. The AP reports that, “French Finance Minister Christine Lagarde says the country's massive strikes are costing the economy up to euro400 million ($562 million) each day.

Protests over President Nicolas Sarkozy's plan to raise the retirement age from 60 to 62 have left France struggling with fuel shortages, travel chaos and uncollected garbage. Lagarde told Europe-1 radio Monday that the daily economic cost is between euro 200 million and euro 400 million. The minister also says the strikes are damaging France's image abroad......Read the entire article.




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Crude Oil Technical Outlook For Monday Morning Oct. 25th

Crude oil was higher overnight and trading above the 10 day moving average crossing at 82.27. However, stochastics and the RSI remain bearish signaling that sideways to lower prices are still possible near term.

If December extends last week's decline, trendline support drawn off the August-September lows crossing near 78.13 is the next downside target. Closes above the reaction high crossing at 84.80 are needed to confirm that a short term low has been posted.

First resistance is the overnight high crossing at 82.99
Second resistance is the reaction high crossing at 84.80

Crude oil pivot point for Monday morning is 81.39

First support is last Wednesday's low crossing at 79.90
Second support is the uptrend line drawn off the August-September lows crossing near 78.13


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SPX, U.S. Dollar, Crude Oil and Gold Analysis

Last week was volatile thanks to China raising their interest rates a quarter basis point. This rate hike caused the Dollar to spike in value which in turn forced equities and metals to sell off sharply. This one day event caused equities to break below a short term support level causing a large number of protective stops to be triggered. This added more selling pressure causing the market to be down nearly 2.5% at one point but a late day bounce recouped a good chunk of the drop.

Wednesday & Thursday the market had a nice rally making back all of losses and then some. But Thursday afternoon we saw the market slip below a key short term support level and triggered another wave of stops. The market continues to resilience because it recovered into the close saving the day.

After Thursday’s end of day rally, we had expected a typical light volume session which typically chops around in a sideways or slow grind higher.

SPY – SP500 ETF 10 Minute Intraday Chart

Chris Vermeulen
The Gold And Oil Guy.Com – ETF Swing Trading Signals



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Crude Oil Rises a Second Day as Faster U.S. Economic Growth May Boost Fuel Use

Crude oil gained a second day in New York after forecasts that the U.S. economy probably grew at a faster pace in the third quarter, signaling a recovery in fuel demand in the world’s biggest crude consuming nation. Futures rose 1.4 percent on Oct. 22 amid speculation that a French strike may increase demand for imported fuels. U.S. gross domestic product climbed at a 2 percent annual pace, up from 1.7 percent in the previous three months, a Bloomberg News survey of economists showed before an Oct. 29 Commerce Department report.

The December contract advanced as much as 47 cents, or 0.6 percent, to $82.16 a barrel in electronic trading on the New York Mercantile Exchange, and was at $82.10 at 9:15 a.m. Sydney time. It rose $1.13 to $81.69 on Oct. 22. Prices gained 0.5 percent last week and are up 3.4 percent this year. Tropical Storm Richard strengthened to a hurricane, with maximum sustained winds of 90 miles per hour, as it moves to the west-northwest at 13 mph toward the coast of Belize, the U.S. National Hurricane Center said in an advisory yesterday.

Brent crude for December settlement added 30 cents, or 0.4 percent, to $83.26 a barrel on the London based ICE Futures Europe exchange. The contract gained $1.13, or 1.4 percent, to $82.96 on Oct. 22.


Courtesy of Bloomberg News


Reporter Ben Sharples can be reached at bsharples@bloomberg.net

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Getting Started in Commodities

Getting Started in Commodities shows you how to successfully invest in the commodities market in futures, stocks, stock indices, and options. The book explains how the commodities market works as well as how investors can identify and track commodity opportunities, using fundamental factors such as supply and demand and technical analysis tools. Fontanills, a seasoned trader and educator, also explains the basis of money management, teaches you how to find the best broker, and how to read seasonal chart patterns. Finally, he explores how to build a winning system and test and adjust it for success. Helpful appendices of contract specifications and additional readings are also included.

Just Click Here to order your copy of Getting Started in Commodities today!

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Kent Moors: How to Play an Explosive Oil Field Services Sector

The rise in crude oil prices is already ushering in another round of increasing drilling. Before the revenues from the oil itself start to flow, however, matters are improving dramatically for the oil field services (OFS) sector. OFS includes all aspects of field preparation, drilling, and well completion leading up to the actual flow. And actually, this applies to drilling for both oil and natural gas. On the gas side, prices are languishing, now down to less than $3.40 per 1,000 cubic feet for a standard NYMEX contract. Yet the huge prospects for unconventional flows from shale gas, tight gas, and coal bed methane production, combined with a likely push for additional gas as fuel in the production of electricity, are pushing drilling higher. And you can be among the first to profit.

The Best OFS Indicator: The Number of Drilling Rigs in Use
During the depths of the financial crisis, drilling experienced a collapse in rig usage, with the decline in both demand and pricing. At its low point, we had barely one third of the rigs being used in any capacity, many of them in injection or workover usages, that is, not drilling new wells for new volume. That is now in full reversal. As of Monday (October 18th), the overall total of drilling rigs in use stands near five year highs.

Even more significant are the field units involved in horizontal drilling. These operations are essential to shale gas and oil development, as well as a range of applications where lateral, rather than vertical, drilling angles are warranted, either for enhanced production or environmental reasons. I’ll give you one of the main indicators I always apply in looking at the overall rig figures. Since November 2005 (when I first started calculating these figures, roughly with the beginning of major shale gas plays), having at least 500 rigs in North American field development applied only to horizontal drilling and hydrofracking operations is taken to mean a significant rise in the OFS market.

As that figure moves beyond 500, we tend to experience an OFS sector heating up, with expanding prices and equipment shortages. That puts OFS providers and their field availability at a premium, thereby increasing service charges… and profitability. A total above 600 indicates an accelerating inflationary pressure in those charges. And as of Monday, the horizontal rig usage stood at 641. What is occurring in rigs is also taking place up and down the OFS provision chain, from seismic and geological survey services to well completions and logging (the generation of readings to determine a range of wellhead and pipe casing conditions). And the results are intensifying.

Read the entire article to learn How to Profit on the Explosive Oil Field Services Sector



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Oil N'Gold: Crude Oil Weekly Technical Outlook For Saturday Oct. 23rd

Crude oil continued to engage in choppy sideway trading last week and spiraled lower. But after all, downside is still contained above 78.04 resistance and there is no confirmation of reversal yet. Recent rally might still extend one more time. But after all, even in case of another rise, we'll continue to focus on reversal signal inside resistance zone of 82.97/87.15. On the downside, break of 78.04 support will indicate that rise from 70.76 is over and deeper decline should be seen to retest this support level first.

In the bigger picture, after all, we're still favoring the case that medium term rally from 33.2 is already completed at 87.15. Recovery from 64.23 is treated as a correction and should be near to completion, if not finished. Even in case of another rise, strong resistance should be seen as crude oil enters into resistance zone of 82.97/87.15 and bring reversal. We're still expecting another fall to 60 psychological level (50% retracement of 33.2 to 87.15 at 60.18). However, decisive break of 87.15 will put focus on long term fibo level at 50% retracement of 147.27 to 33.2 at 90.24.

In the long term picture, current development suggests that rebound from 33.2 is finished at 87.15, inside 76.77/90.24 fibo resistance zone as expected. Price actions from 147.27 are treated as consolidation in the larger up trend and with 90.24 fibo resistance intact, a test of 33.2 eventually is in favor. Though, decisive break of 90.24 will argue that crude oil will bring stronger rally to above 100 psychological level as a relatively powerful second wave of the consolidation continues.

Nymex Crude Oil Continuous Contract 4 Hour, Daily, Weekly and Monthly Charts


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Lind-Waldock: Crude Oil Poised to Reach $90 a Barrel

Crude oil is poised to reach $90 a barrel by the middle of December, according to technical analysis by Lind-Waldock in Chicago. The December contract, which became the front month contract yesterday, has been trading in an uptrend, a pattern of higher peaks and higher valleys, since touching a low of $75.10 on Sept. 23, Blake Robben, a strategist at Lind-Waldock, a division of MF Global Ltd., said in an interview.

“Since then, the market has made higher highs and higher lows,” Robben said. A line drawn from the Sept. 23 low to the Oct. 20 low of $79.90 projects to $90 by the middle of December, he said. The initial target for the rising price is $86.52, the high on May 13, which may be reached by the middle of November, Robben said.

“If we close below $79.90, the uptrend is over and we’re back in a trading range of $75 to $85,” he said. Crude oil for December delivery settled at $80.56 a barrel yesterday on the New York Mercantile Exchange.

Bloomberg reporter Barbara Powell can be reached at Bpowell4@bloomberg.net.


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China's Oil Demand Rises on Year On Year Basis

China's apparent oil demand in September rose 5.1% year on year to 35.53 million metric tons (mt) or an average of 8.68 million b/d, according to Platts' analysis of data from the People's Republic of China. However, September demand is almost unchanged from August's 35.54-million-mt level. Meanwhile, China's apparent oil demand in the first nine months of the year totaled 317.7 million mt or an average of 8.52 million b/d, up 10.25% from the same period of 2009, according to Platts' data.

Chinese refiners processed a total 34.91 million mt or an average 8.53 million b/d of crude in September. This is up 6.35% from a year ago, but just 0.52% higher than August, according to data released by the country's National Bureau of Statistics on Oct. 21. The refiners' collective crude throughput from January to September was 310.74 million mt, 13.48% higher from a year ago. Chinese crude imports in September hit a new historic high of 23.29 million mt, or around 5.7 million b/d.

"The crude available to China in September, including domestic production and net imports, was 40.09 million mt, but the throughput was only 34.91 million mt. So a little over 5 million mt of crude presumably went into storage, the highest in a month so far this year," said Vandana Hari, Asia editorial director at Platts. "At the same time, China's monthly refined product imports continued to come off June's high of 3.64 million mt, while the country stepped up product exports last month. The flattening of implied oil demand in September could be a precursor to an easing of the country's runaway oil demand growth rate for the remainder of 2010."

Courtesy of Rigzone.Com



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Phil Flynn: Project China

In futures, one day you are in and the next day you are out. Oil traders wanted data from China to wow them but that failed. The oil bulls have all of their hopes and aspirations tied up into expectations of strong China demand and when they fail to blow us away, well the bulls have to leave the runway.

China GDP number just barely met or exceeded market expectations and for a market that lives or dies on China surprising us, it just was not enough. It bored us. At the same time in the aftermath of the Chinese’s government increasing interest rates the higher than expected 3.6 percent rise in the Chinese Consumer Price index should increase the odds that we will see more moves by the Chinese to try to reign in what they are starting to see as an inflation problem.

Oil bulls also had to be dismayed by the fact that despite the fact that the Chinese imported a record amount of crude last month, it seems it went into storage as opposed to the refinery. Data from the China Mainland Marketing Research Company showed that China processed 8.5 million barrels of oil a day which according to Bloomberg News was the smallest increase since March of 2009. A sign that demand may already be......Read the entire article.


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Zacks: Haliburton a Near Term Buy?

Earlier this week, major oilfield services provider Halliburton Co. (HAL) announced its financial results for the quarter ended September 30, 2010. Now that the analysts have had some time to digest the quarterly performance, they are weighing in with their estimate revisions. Below we cover the results of the recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for the stock.

Earnings Review
Halliburton's better than anticipated third quarter 2010 results were helped by the strength in the all important North American onshore activity levels (to which the company is heavily exposed through its market share leading pressure pumping business). Earnings per share, excluding special items, came in at 58 cents, beating the Zacks Consensus Estimate of 56 cents and were comfortably ahead of the year ago adjusted profit of 31 cents.

Revenues of $4.7 billion, 30% above the third quarter of 2009, also surpassed the Zacks Consensus Estimate of $4.6 billion, as sales increased across the company’s business units. During the quarter, North America accounted for approximately 51% of Halliburton’s total revenues and 65% of its operating income.

Agreement of Estimate Revisions
There is a strong positive agreement among the analysts regarding Halliburton’s outlook. In particular, we see a notable number of estimate revisions over the past 7 days, indicating that the revisions were in response to the company’s third quarter earnings release. Out of 33 analysts covering the stock, 23 have revised their estimates for 2010 upward, while 5 have gone in the opposite direction. Looking forward to 2011, the trend is more or less similar. Out of 33 analysts, 22 hiked their estimates compared to just one negative revision. Estimates are up for the December quarter of 2010 as well. For the current quarter, 21 of the 29 analysts have increased their estimates over the last 7 days, against 5 downward revisions.

Magnitude of Estimate Revisions
As a result of the analysts revising estimates over the past 7 days, the Zacks Consensus Estimates for fiscal 2010 and 2011 have gone up 5 cents (from $1.94 to $1.99) and 13 cents (from $2.49 to $2.62), respectively. Meanwhile, the estimate for the December 2010 quarter is up by 3 cents. The increases are based on the expectations of bullish near-term U.S. land drilling trends, where activity is being driven by oil and liquids-rich plays. This will make the reduction in gas activity less meaningful. Halliburton will continue to be a beneficiary of the bullish rig count fundamentals in the U.S., driven by horizontal drilling in the service intensive plays.

Our Recommendation
Halliburton currently has a Zacks #2 Rank (short-term 'Buy' rating). In the near term, the company is likely to benefit from bullish U.S. land drilling trends, where activity is tracking above expectations. However, new environmental regulations for hydraulic fracturing in the shale plays, the intensely competitive nature of the market, and depressed natural gas prices will continue to overhang the stock during the longer-term, accounting for our Neutral recommendation.

Courtesy of  Zack.com


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Crude Oil Bears Appear to Have a Clear Near Term Advantage, Here's Fridays Numbers

Crude oil was higher due to short covering overnight but remains below the 20 day moving average crossing at 81.78. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If December extends this week's decline, trendline support drawn off the August-September lows crossing near 78.10 is the next downside target. Closes above the reaction high crossing at 84.80 are needed to confirm that a short term low has been posted.

First resistance is the 20 day moving average crossing at 81.78
Second resistance is the 10 day moving average crossing at 82.25

Crude oil pivot point for Friday morning is 81.12

First support is Wednesday's low crossing at 79.90
Second support is the uptrend line drawn off the August-September lows crossing near 78.10


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Bloomberg: Crude Oil Rises as Reports Show Improved U.S. Economic Outlook

Crude oil climbed in New York after reports showed improvement in the U.S. economy, raising investor expectation fuel demand will increase. Futures retraced some of yesterday’s 2.4 percent decline as Asian equity markets gained following data showing jobless claims fell in the world’s largest economy. The New York based Conference Board’s index of leading economic indicators climbed 0.3 percent, matching the forecast of economists surveyed by Bloomberg News.

“For the short term, the positive economic indicators should support the prices,” said Tetsu Emori, a commodity fund manager at Astmax Ltd. in Tokyo. “Fundamentals aren’t what people are looking at for the market but currencies and financial market conditions.” The December contract added as much as 60 cents, or 0.7 percent, to $81.16 a barrel in electronic trading on the New York Mercantile Exchange, and was at $81.05 at 11:55 a.m. Singapore time. Yesterday it lost $1.98 to $80.56. The contract has fallen 1 percent this week.

Oil also rose as Labor Department figures yesterday showed U.S. initial jobless claims dropped by 23,000 to 452,000 in the week ended Oct. 15. Chinese crude production gained 9 percent in September, the National Bureau of Statistics said Oct. 21. Oil refining reached 8.5 million barrels a day last month, China Mainland Marketing Research Co. said......Read the entire article.



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Commodity Corner: Crude Falls as Dollar Rebounds

Crude futures fell Thursday as economic worries resurfaced and the dollar rebounded against the euro. Oil prices for December delivery settled at $80.56 a barrel, down 2.4 percent from the previous day. Prices continued to feel the ripple from China's decision Tuesday to increase interest rates. As the Chinese government reported, projected third quarter gross domestic product growth fell to 9.6 percent from a 10.3 percent growth rate in the second quarter.

The second largest oil consumer after the U.S., China, is estimated to account for approximately 40 percent of an expected 2.1 million barrel per day increase in global oil demand this year and approximately one third of a 1.2 million-b/d increase next year, according to the International Energy Agency. The dollar rose 0.3 percent against the euro Thursday after falling earlier as much as 0.6 percent. Light, sweet crude futures traded between $80.09 and $82.70.

Likewise, natural gas futures plummeted to new 13-month lows Thursday. Henry Hub natural gas decreased 4.8 percent and settled at $3.37 per thousand cubic feet. The U.S. Energy Information Administration (EIA) reported that natural gas inventories grew by 93 billion cubic feet last week, marking the sixth consecutive above average weekly build. According to the inventory report, the U.S. had 3.68 trillion cubic feet of natural gas in underground storage last week.

The National Hurricane Center observed a tropical storm headed toward Mexico's Yucatan Peninsula Thursday. The system, Tropical Storm Richard, formed in the northwestern Caribbean Sea. Meteorologists predict that the storm may continue into the Gulf of Mexico, but major impact should be prevented by the high wind shear. The intraday range for natural gas was $3.35 to $3.54 Thursday. November delivery gasoline prices settled at the lowest point since Sept. 29 at $2.04 a gallon, after peaking at $2.08 and bottoming out at $2.03.

Courtesy of Rigzone.Com


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The Dollar-Crude Oil Trade

Dan Dicker, an independent oil trader, shares his dollar-oil trade with CNBC.



Why Diversification Doesn't Work

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Markets Close Mixed as Commodity Bulls Fight The Stronger Dollar

The U.S. stock indexes closed mixed today. The stock index bulls still have the overall near term technical advantage as price uptrends are still in place on the daily bar charts. Stock index bulls have been very pleased with price action so far this autumn, a time which is normally not favorable to market bulls. My bias is that prices will trade mostly sideways, but with a slight upside bias, into the end of the year.

Crude oil closed down $1.91 at $80.63 a barrel today. Prices closed nearer the session low today. A rebounding U.S. dollar pressed the crude market lower today. Trading has turned very choppy. Bulls and bears are on a level near term technical playing field.

Natural gas closed down 13.3 cents at $3.76 today. Prices closed nearer the session low today and prices hit another fresh contract low. The bears have the solid overall near term technical advantage.

Gold futures closed down $19.70 at $1,324.50 today. Prices closed near the session low today and hit a fresh two week low. Profit taking, a firming U.S. dollar index and lower crude oil prices combined to pressure gold today. Prices also scored a bearish "outside day" down on the daily bar chart, whereby the high was higher and low was lower than the previous session's trading range, with a lower close. Some near term technical damage was inflicted today as a 2 1/2 month old uptrend on the daily bar chart was at least temporarily negated today to begin to suggest that a near term market top is in place. Bulls do still have the overall near term and longer term technical advantage, but have faded this week and need to show fresh power soon.

The U.S. dollar index closed up 27 points at 77.69 today. Prices closed near the session high today and saw short covering in a bear market. Dollar index bears still have the overall near term technical advantage.


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Diamond Offshore: Market Sentiment Is Shifting, Rare Opportunity Is Ending

From Seeking Alpha contributor Hester.....

Earlier in the year, at the end of May, I wrote a bullish article on Diamond Offshore (DO). At the time, shares of Diamond were getting crushed, as the hysteria over the BP spill was in full swing, with many speculating that BP would go bankrupt. The offshore drilling industry was just starting to go under a microscope by regulators. The drilling moratorium was just a twinkle in Ken Salazar's eye. People refused to go near drilling stocks because of regulatory uncertainty, possible increased insurance costs, the risk of another spill, and most importantly, the general dislike of the sector.

It has been nearly five months since all of this, and most of the reasons to sell are nearly gone. The moratorium and regulatory scrutiny is basically over. Insurance costs will be passed on to customers. The BP spill has ended, it is out of the news, and cleanup is moving swiftly. The risk of another spill is the exact same as before the BP spill (which is low), but perception of the risk is lowered. The general dislike and hatred of anything in the sector is slowly ending. The opportunity to purchase great companies at ridiculous prices is may be ending.

Yet, DO is trading at basically the same price as when my article came out and when I started buying. The stock price took a big plunge, from high $60's per share to mid $50's, after the article when people were speculating that Diamond had a spill themselves. However, anybody who took the time to listen to management or actually read past the headlines knew it was a non issue, and the stock eventually recovered to where it is now. So even though these issues are ending, today's buyers are offered a rare opportunity to buy one of the highest quality oil drillers in the world, at just 10 times earnings......Read the entire article.


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Dan Dicker: A Refinery Buy - Frontier Oil

Dan Dicker has managed to find one refinery worthy of a trade.



Can you learn to trade crude oil in just 90 seconds?

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Pinpointing the Top China ETF Opportunities

We have been watching China and their ETF's pretty closely and this article is a good read as to why these are the top three ETF's.....

Think one ETF is as good as another as long as it’s in the same sector, country, or style as the alternatives? Perhaps that was the case ten years ago. In an effort to differentiate their exchange trade funds from others, however, ETF sponsors have really started to hyper focus their funds’ portfolios…. even within a particular grouping.

Take China based exchange traded funds for example. While the iShares FTSE/Xinhua Chain 25 Index Fund (FXI) may have the lead in hearts and minds of China-hungry investors, other funds of the same ilk may actually be the better choice, depending on your goal or strategy.

Just to put this idea into a stunning perspective, check out this performance chart of all the major China oriented funds for the year to date. While one could reasonably expect a mild amount of disparity when it comes to returns, you’d think they’d all basically offer the same result After all, they’re each investing in the same broad cross section of China’s stocks. Take a look though.

A 17% gain for the leader, and a 5% gain for the laggard, but the same underlying stocks? Wow. Even taking out the ‘Honk Kong’ leader, you’ve still got a 100% disparity from the next best performer and the weakest one. Of course, the different performances come as no real surprise once you look under the hood of these funds and really see what each is holding.

Just like many U.S. based ETFs, the idea of a “cross section of the country’s stocks” can have various meanings. For instance, the iShares FTSE/Xinhua China 25 Index’s (FXI) biggest two holdings are China Mobile Ltd., and then China Construction Bank Corporation. That sharply contrasts with the two biggest holdings of the iShares MSCI Hong Kong Fund (EWH), which are (in order) Sun Hung Kai Properties, Ltd., and Cheung Kong Holdings, Ltd.

To be clear, this isn’t a complaint. Quite the contrary actually, we should be celebrating these differences, so we can get the most out of a regional based opportunity rather than sit contently holding watered down carbon copies of ETFs. With that in mind, that’s where the real China opportunity comes to light.

They may still qualify as ‘new’, but several sector based China exchange traded funds are plenty liquid enough to trade now, and the performance separation within the group is easily wide enough to prompt a trader to pick and choose certain vehicles.

Take a look at the year to date performance chart of these sector-based ETFs, and take special notice a 20% gap between the leader and the laggard for the year so far.

Our favorites are the three leaders…. the Global X China Consumer ETF (CHIQ), the Claymore/AlphaShares China Small Cap ETF (HAO), and the Claymore/AlphaShares China Real Estate ETF (TAO). We either currently own those names in the ETF portfolio, or intend to own soon. Any of them offer a little more ‘umph’ than FXI does at this point.

The point here is simply to highlight the fact that there are obscure trends within the bigger China trend that are well worth tapping into. That’s one of the focal points of our ETF service, and the approach has been very rewarding.

Check out more of Andrew Hart post at  ETF TRADR.com



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Phil Flynn: French Fried

Alright, I admit it was kind of fun snickering about the French Strikes. You know like joking about the French work ethic (assuming they had one). You know the routine. The French have been striking and staging mass protests that have turned violent as the government moves to take away French entitlements they cannot pay for. The French are to vote on raising the retirement age from 60 to 62 (Sidérer!!!). With an aging French population and years of the government giving the country free goodies, the government is going to have to make much needed reforms or face an inevitable economic collapse.

The strikes have shut down 12 oil refineries in France leading to shortages of diesel and gasoline. The International Oil Daily Reported that, “lost French production is driving dramatic price gains in diesel and jet fuel in Europe, France’s 12 oil refineries, all but one of which has been shut down by national strikes, produce around 60,000 tons of diesel and 30,000 tons of jet a day. But even with refineries at full production, the country is a net importer of both products. Minimal domestic production means France is sucking in products from neighboring Germany, Italy and even Spain, as well as drawing from strategic......Read the entire article.


Can you learn to trade crude oil in just 90 seconds?

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