Forex Books Talking

given no indication they plan to alter course. In fact, Saudis have downplayed the impact of lower prices on their country, asserting that the kingdom has the financial wherewithal to withstand lower oil prices.

The US Energy Information Administration released their weekly data this morning as usual. The reaction to the data from crude oil was anything but the usual. Most everyone

anything but the usual. Most everyone in the industry was looking for a draw in crude oil stockpiles especially after yesterday afternoon’s API data showed a reduction in supplies.

On Tuesday, crude oil gained 1.17% as hopes that crude oil inventories could decline for a third consecutive week weighed on investors' sentiment. Thanks to these

sentiment. Thanks to these circumstances, light crude bounced off its key support line, but will we see the commodity above $43 in near future?

Well, according to an August 6 CNBC article, the price action of one financial market -- i.e., crude oil -- has out-mystified even God himself. Or, rather, the well-heeled star of the oil world, Andy Hall -- a.k.a. "God Trader.

As we have noted many times, energy is the master resource, and has been the primary driver of an expansion dating back to the beginning of the industrial

beginning of the industrial revolution. In fossil fuels humanity discovered the ‘holy grail’ of energy sources – highly concentrated, reasonably easy to obtain,

reasonably easy to obtain, transportable and processable into many useful forms. Without this discovery, it is unlikely that any human empire would have exceeded

empire would have exceeded the scale and technological sophistication of Rome at its height, but with it we incrementally developed the capacity to reach for the stars along an exponential growth curve

In this new interview with Elliott Wave International's Chief Energy Analyst, Steve Craig, you'll learn where he sees prices going next.Editor's note: this interview was recorded on August 12; the price low cited in the video was broken on August 13

Crude oil declined yesterday, but the session was not without a rebound. In fact, the move higher continues also today as black gold is at almost $44. Have we just seen a major triple bottom in crude oil

In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market's swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices

In October, Saudi sources first prepared the market with statements that the country would be comfortable with oil prices as low as $80 per barrel for "a year or two.

barrel for "a year or two." At the November OPEC meeting, the Saudi oil minister, Ali Al-Naimi, publicly announced Saudi Arabia would allow market forces to set prices.