Home » Posts tagged 'oil inventories'
Tag Archives: oil inventories
Falling oil inventories is what matters, not geopolitics: Eric Nuttall
Falling oil inventories is what matters, not geopolitics: Eric Nuttall Video: https://www.bnnbloomberg.ca/video/falling-oil-inventories-is-what-matters-not-geopolitics-eric-nuttall~2382581?fbclid=IwAR35n9dgxwTWlZkX2bEYyy72SOGJR0eQM3MkFzRENmj9S8oDz0xkI9XfP8o Oil prices are retreating as tensions between Russia and Ukraine ease and investors grow more concerned about an Iran nuclear deal, so what does it all mean for the oil market long-term? Eric Nuttall, partner and senior portfolio manager of Ninepoint Partners, joins […]
Global Oil Inventories Are Exceptionally Tight: Kemp
Global Oil Inventories Are Exceptionally Tight: Kemp Global petroleum inventories are the tightest for years in a sign the market is overheating, as the global economy recovers rapidly from the coronavirus pandemic and major oil producers refuse to increase output faster. Commercial inventories held in the countries of the Organisation for Economic Co-operation and Development […]
Oil Spreads Trading at Historically Unrealizable Levels
Oil Spreads Trading at Historically Unrealizable Levels Outright oil prices have continued to rally this year as economies recover from impaired pandemic levels, however calendar spreads have been unable to realize their bullish intent. In fact, calendar spread structures have continued to disappoint into expiration. In some respects this is less about a failure of […]
Saudis Reportedly Target US Inventories By Slashing Oil Exports
Saudis Reportedly Target US Inventories By Slashing Oil Exports WTI prices briefly popped above $52 before fading quickly after Bloomberg reported that after flooding the US market in recent months, Saudi Arabia plans to slash exports starting in January in an effort to dampen visible build-ups in crude inventories. Bloomberg reports that, according to people […]
WTI Slumps To $61 Handle After US Crude Production Soars To New Record High
WTI Slumps To $61 Handle After US Crude Production Soars To New Record High Despite sliding after last night’s API-reported big Crude and Cushing build, WTI has rebounded overnight amid a post-midterms tumbling dollar, but a larger crude build than expected from DOE, combined with a smaller gasoline draw, could lead to WTI “set to […]
Oil Prices Fall As EIA Confirms Inventory Build
Oil Prices Fall As EIA Confirms Inventory Build After a surprise 5.32-million-barrel inventory build reported by the American Petroleum Institute (API) weighed on oil prices yesterday, the Energy Information Administration (EIA) is reportinga build of 1.6 million barrels for the week ending March 23. The markets, which have not had a chance to react to […]
OPEC Scrambles To Justify Output Cuts
OPEC Scrambles To Justify Output Cuts Oil inventories are approaching the five-year average level in OECD countries, the all-important threshold for “re-balancing” the oil market. A year and a half on from OPEC’s original deal to limit output, the surplus oil stashed in storage tanks around the world are nearly back to average levels. However, […]
OPEC Doubles Down On Draining Oil Inventories
OPEC Doubles Down On Draining Oil Inventories Although the oil market has been improving, OPEC still has work to do to bring global oil inventories back to their five-year average—the metric that OPEC has vowed to achieve with the production cut deal, OPEC Secretary General Mohammad Barkindo said on Monday while on a visit to […]
Physical Oil Markets Don’t Lie – Is Another Crash Likely?
Physical Oil Markets Don’t Lie – Is Another Crash Likely? Oil prices are falling and analysts and market players are as eager as ever to explain the decline in accordance with their own bullish or bearish leanings. It’s a natural correction that was only to be expected after the buildup of long bets on crude […]
Why Oil Prices Could Dive
Why Oil Prices Could Dive WTI briefly touched $65 per barrel after the EIA reported a surprise drawdown in inventories — the highest price since late 2014. Although the rally hit some stumbling blocks in recent days, prices remain at multi-year highs. However, absent further bullish news, the downside risk looms large. One of the […]
Oil Prices Testing August Lows As Inventories Swell
Oil Prices Testing August Lows As Inventories Swell As Mike D from the Beastie Boys turns fifty today, WTI is trying to fight for its right to party on in forty-dollardom. (but failing). Brent is being more successful in trying to ‘get it together’, holding somewhat steady, but the ongoing swelling-inventory, tanker traffic-jammed nature of […]
Bearish News For Oil Growing By The Day
Bearish News For Oil Growing By The Day Oil hit its lowest point in two months on July 1, falling on a combination of market turmoil and bearish oil figures. WTI dipped below $57 and Brent dropped to around $62 per barrel, breaking out of a narrow range within which the two benchmarks have been […]
