My commodity futures charts on oil show the players as bearish, low to mid-eighties for WTI crude going out to 2020.
Oil producers added pressure in the market after Brent futures on Thursday recorded its lowest settlement price since December 2010 and WTI crude notched its lowest settlement since October 2011.
The OECD released strategic oil reserves in response to the situation in Libya to help bring down prices temporarily, but with the exception of a fall in WTI crude prices in the U.S., oil prices have remained steady despite the gathering clouds over the economy.
FORBES: Uneven Impact On Oil Stocks From OECD Trimming Oil Demand Forecasts
Inc, the RSI reading has hit 73.5 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 55.2, the RSI of WTI Crude Oil is at -1.0, and the RSI of Henry Hub Natural Gas is presently 41.1.
FORBES: China Petroleum & Chemical Corp. Stock Getting Overbought
A., the RSI reading has hit 70.2 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 53.0, the RSI of WTI Crude Oil is at 55.2, and the RSI of Henry Hub Natural Gas is presently 40.6.
Inc, the RSI reading has hit 28.6 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 40.8, the RSI of WTI Crude Oil is at 25.5, and the RSI of Henry Hub Natural Gas is presently 64.0.
In the case of ConocoPhillips, the RSI reading has hit 70.8 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 60.0, the RSI of WTI Crude Oil is at 60.6, and the RSI of Henry Hub Natural Gas is presently 40.8.
In the case of Enersis S.A., the RSI reading has hit 29.6 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 35.8, the RSI of WTI Crude Oil is at 35.4, and the RSI of Henry Hub Natural Gas is presently 37.7.
In the case of Teekay Corp, the RSI reading has hit 71.6 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 56.3, the RSI of WTI Crude Oil is at 71.8, and the RSI of Henry Hub Natural Gas is presently 37.9.
In the case of Enersis S.A., the RSI reading has hit 28.0 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 52.9, the RSI of WTI Crude Oil is at 50.3, and the RSI of Henry Hub Natural Gas is presently 45.2.
In the case of Tesoro Corporation, the RSI reading has hit 28.7 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 49.4, the RSI of WTI Crude Oil is at 29.3, and the RSI of Henry Hub Natural Gas is presently 65.7.
In the case of Teekay Corp, the RSI reading has hit 28.9 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 47.3, the RSI of WTI Crude Oil is at 40.3, and the RSI of Henry Hub Natural Gas is presently 60.8.
In the case of Enersis S.A., the RSI reading has hit 27.0 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 52.9, the RSI of WTI Crude Oil is at 59.2, and the RSI of Henry Hub Natural Gas is presently 66.9.
In the case of Ensco plc, the RSI reading has hit 29.1 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 35.5, the RSI of WTI Crude Oil is at 38.7, and the RSI of Henry Hub Natural Gas is presently 36.7.
In the case of Ecopetrol SA, the RSI reading has hit 23.9 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 56.9, the RSI of WTI Crude Oil is at 50.5, and the RSI of Henry Hub Natural Gas is presently 46.8.
In the case of Venoco Inc, the RSI reading has hit 28.9 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 49.0, the RSI of WTI Crude Oil is at 52.2, and the RSI of Henry Hub Natural Gas is presently 68.9.
In the case of SemGroup Corp, the RSI reading has hit 70.1 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 52.1, the RSI of WTI Crude Oil is at 64.9, and the RSI of Henry Hub Natural Gas is presently 44.9.
In the case of Transocean Ltd, the RSI reading has hit 29.1 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 35.8, the RSI of WTI Crude Oil is at 38.7, and the RSI of Henry Hub Natural Gas is presently 35.2.
In the case of Total S.A., the RSI reading has hit 29.5 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 41.5, the RSI of WTI Crude Oil is at 25.7, and the RSI of Henry Hub Natural Gas is presently 57.7.
In the case of Edison International, the RSI reading has hit 70.8 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 57.8, the RSI of WTI Crude Oil is at 57.7, and the RSI of Henry Hub Natural Gas is presently 45.0.
FORBES: Edison International (EIX) Shares Enter Overbought Territory
In the case of Sempra Energy, the RSI reading has hit 28.1 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 48.2, the RSI of WTI Crude Oil is at 50.2, and the RSI of Henry Hub Natural Gas is presently 49.4.
In the case of Halliburton Company, the RSI reading has hit 29.2 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 39.0, the RSI of WTI Crude Oil is at 38.3, and the RSI of Henry Hub Natural Gas is presently 61.6.
In the case of Hess Corp, the RSI reading has hit 28.5 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 41.5, the RSI of WTI Crude Oil is at 25.7, and the RSI of Henry Hub Natural Gas is presently 57.7.
In the case of Tesoro Corporation, the RSI reading has hit 27.0 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 43.4, the RSI of WTI Crude Oil is at 31.2, and the RSI of Henry Hub Natural Gas is presently 61.3.
In the case of GeoResources Inc, the RSI reading has hit 29.8 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 49.0, the RSI of WTI Crude Oil is at 52.2, and the RSI of Henry Hub Natural Gas is presently 68.9.
In the case of Ecopetrol SA, the RSI reading has hit 29.5 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 41.0, the RSI of WTI Crude Oil is at 38.6, and the RSI of Henry Hub Natural Gas is presently 62.1.
In the case of Enerplus Corp, the RSI reading has hit 29.0 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 38.3, the RSI of WTI Crude Oil is at 39.7, and the RSI of Henry Hub Natural Gas is presently 36.4.
In the case of Statoil ASA, the RSI reading has hit 70.6 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 61.6, the RSI of WTI Crude Oil is at 62.2, and the RSI of Henry Hub Natural Gas is presently 39.5.
In the case of Total S.A., the RSI reading has hit 29.8 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 38.8, the RSI of WTI Crude Oil is at 37.7, and the RSI of Henry Hub Natural Gas is presently 28.7.
In the case of Enerplus Corp, the RSI reading has hit 29.1 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 43.9, the RSI of WTI Crude Oil is at 31.1, and the RSI of Henry Hub Natural Gas is presently 55.5.
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