{"id":45239,"date":"2019-04-10T08:49:35","date_gmt":"2019-04-10T13:49:35","guid":{"rendered":"https:\/\/olduvai.ca\/?p=45239"},"modified":"2019-04-10T09:24:48","modified_gmt":"2019-04-10T14:24:48","slug":"smart-money-is-piling-into-oil","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=45239","title":{"rendered":"Smart Money Is Piling Into Oil"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/oilprice.com\/Energy\/Crude-Oil\/Smart-Money-Is-Piling-Into-Oil.html\">Smart Money Is Piling Into Oil<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/718x300\/79ab29c36b59bdd11e5b86ff7f4a41ba.jpg\" alt=\"oil field dusk\"\/><\/figure>\n\n\n\n<p>Oil prices jumped to five-month highs this week, pushed higher by a bullish cocktail of supply outages, geopolitical unrest and a sputtering shale sector.<\/p>\n\n\n\n<p>The most recent factor is the sudden eruption of the long simmering feud in Libya between rival factions. The attack on Tripoli by the Libyan National Army (LNA), a militia led by Khalifa Haftar, led to a&nbsp;<a href=\"https:\/\/oilprice.com\/Energy\/Oil-Prices\/Oil-Prices-Spike-On-Libyan-Violence.html\">spike in oil prices<\/a>&nbsp;on Monday as the market priced in the possibility of supply outages.<\/p>\n\n\n\n<p>One oil export terminal near Tripoli is the most obvious asset at risk. \u201cIf this port were to be shut down due to the fighting, this could see a delivery outage of up to 300,000 barrels per day,\u201d Commerzbank said in a note on Tuesday. \u201cThe oil market is already undersupplied, so if supply from Libya also falls away the supply deficit will become even bigger.\u201d Brent jumped to $71 and WTI to $64 on the news, the highest level in five months.<\/p>\n\n\n\n<p>Intriguingly, speculators have only recently turned bullish on crude oil in terms of their positions in the futures market. \u201cIndeed, our money-manager positioning index implies that speculative funds only moved from neutral to positive on oil in the latest week,\u201d Standard Chartered wrote in a report on April 9. The investment bank argued that major investors only began to properly factor in geopolitical risk in the last few days, having overlooked risk for much of this year. Standard Chartered analysts said that the \u201csupply security\u201d of Libyan oil is \u201clow,\u201d and that output could decline in both the short and medium term.&nbsp;<\/p>\n\n\n\n<p>&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Smart Money Is Piling Into Oil Oil prices jumped to five-month highs this week, pushed higher by a bullish cocktail of supply outages, geopolitical unrest and a sputtering shale sector. The most recent factor is the sudden eruption of the long simmering feud in Libya between rival factions. The attack on Tripoli by the Libyan [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[588,1278,2245,595,596],"class_list":["post-45239","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-oil","tag-oil-industry","tag-oil-market","tag-oil-production","tag-oil-supply"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/45239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45239"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/45239\/revisions"}],"predecessor-version":[{"id":45240,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/45239\/revisions\/45240"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}