Shale producers ramp up production as pipes to Gulf opens
Yesterday’s report on US shale oil drilling from the EIA was mostly depressing reading for global oil producers. It showed that the completion of wells rose to 1411 wells in…
Analys
Analyser på råvaror från ledande banker och analysföretag. Både längre analysbrev och kortare tradingidéer.
Mid-dist cracks getting ready to jump on IMO and Gasoline
(What it means: Diesel, gasoil and jet fuel are set to become more expensive relative to crude oil prices while gasoline and high sulphur bunker oil are set to become cheaper…
Brent crude tipping over the technical abyss
Brent crude ydy closed down 1.5% at $58.94/bl. That was the lowest level since early January, below the lows from June and below the technically important Fibonacci price level of…
Trade war today and oil market balance tomorrow
Brent crude lost 7.2% and closed at $60.5/bl with also the three year contract loosing 4% with a close of $56.02/bl. Neither equities nor oil were satisfied with ”mid-cycle…
The Permian pipes are coming and it is no small potato
Between 2.2 m bl/d to 2.5 m bl/d of new pipeline capacity from the Permian basin to the US Gulf will be put into operation in a flash of just three quarters (Q3-2019 to Q1-2020).…
OPEC meeting: Holding back is easy as Iran and Venezuela takes all the pain
Brent crude jumps 2.8% this morning to $66.6/bl following news that Saudi Arabia and Russia are in agreement of an extension of current cuts for another 6 to 9 months and that…
Brent crude again heading towards the $60/bl danger-zone
Following its intraday low of $59.45/bl last week the Brent August contract staged a mild rebound this week and reached an intraday high of $64.1/bl on Monday before falling back…
Oil will not flow freely and Middle East risk is rising
Brent crude gained 2.3% last week with a close of $72.2/bl countering negative headwinds from both USD strength (Dollar index +0.7%) and losses in global equities (-0.8%).…
Feisty oil in the face of global growth concerns
Week over week to Friday Brent crude fell back 0.3% to $70.62/bl along with a global equity sell-off of 2.6%. The sell-off in oil was thus very mild versus the general bearish…
A man with a moustache is pushing Iran into the corner
Donald Trump’s threat to add 25% tariffs on all Chinese imports is this morning sending Shanghai equities down 6%, S&P 500 futures down 1.7% and Brent crude down 2.1% to…