• 14 hours Jeff Bezos Doubles Down On Space Colonization Ambitions
  • 20 hours Gold Mining Stocks Stuck In Limbo
  • 2 days Executive Order Targets Huawei Over Espionage
  • 2 days Why Now May Be The Best Time Ever To Hold Gold
  • 3 days Fake News Sinks Shares In UK-Based Bank
  • 3 days De Beers To Build $468 Million Diamond Recovery Ship
  • 3 days Moody's: Turkey Faces Possible Credit Downgrade
  • 3 days Tesla's Solar Sales Are Slipping
  • 4 days Auto Industry To Get Temporary Tariff Relief
  • 4 days Welcome To The World’s Biggest Free Trade Area
  • 4 days Central Banks Are Stockpiling Gold At The Fastest Rate In Half A Decade
  • 4 days U.S.-China Impasse Threatens Rare Earth Trade
  • 5 days Wall Street Bears $1 Trillion Brunt Of Trade War
  • 5 days Mobile Sports Betting Isn’t Quite Minting Millionaires Just Yet
  • 5 days The Marijuana Industry’s Shocking Secret
  • 5 days A Generational Shift Is Quietly Unfolding In The Mining Industry
  • 6 days Pentagon To Pay $6 Billion To Help Build Border Wall
  • 6 days Beijing Backlash: Stocks Slammed, Gold Boosted
  • 6 days Market Sentiment At Its Lowest In 10 Months
  • 6 days Trader Compares Current Market Environment To 2007
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

  1. Home
  2. Markets
  3. Other

Interesting Intraday Oil Futures Flows

Here is an interesting chart that might suggest flows into oil markets.

Or perhaps it suggests something else. But I put together the chart below (data sourced from Bloomberg) because it seemed to me as if recently crude oil - and other energy markets, but I am focusing on Crude - has been having a nice little spike in the middle of the morning. Often, these have seemed inexplicable to me; other times (like yesterday) there was ostensibly news but it was not immediately obvious that the news was oil-supportive.

CLM6, Average Day, 30-Minute Intervals

This chart shows a composite trading day for June NYMEX Crude Oil futures for the last 20 days. You can see that it appears I am not imagining it: on average, Crude has been rallying about 30 cents per day, beginning about 9:00ET.

I thought this might be flattered by the DOE weekly release, which is at 10:30ET on Wednesdays. So I removed those days and the relationship is still clear (although it makes the rise from 3am to 9am look relatively more important).

I don't know exactly what this means, but it has "felt" to the old trader in me that the market was tending to gap in that time frame and this seems to confirm the visceral sense. It doesn't necessarily mean my other gut feeling, that this might represent systematic daily allocations - perhaps to energy or broad commodity ETFs? Or OTC products? Or both? - is correct, however.

 


Administrative Note: Get your copy of my new book What's Wrong with Money: The Biggest Bubble of All! Here is the Amazon link.

You can follow me @inflation_guy!

Enduring Investments is a registered investment adviser that specializes in solving inflation-related problems. Fill out the contact form at http://www.EnduringInvestments.com/contact and we will send you our latest Quarterly Inflation Outlook. And if you make sure to put your physical mailing address in the "comment" section of the contact form, we will also send you a copy of Michael Ashton's book "Maestro, My Ass!"

 

Back to homepage

Leave a comment

Leave a comment