Iran – Hard to swallow a double insult
Brent crude fell back 0.3% to $75.08/bl ydy after a strong rebound on Mon but is again up 0.8% this morning to $75.7/bl. It is taking little notice of the escalating trade war…
bjarne schieldrop
Brent crude in non-USD as expensive as in 2011 to 2014
In order to reach a consensus and keep the OPEC+ group united the latest proposal on the table for the upcoming meeting of OPEC+ on Friday and Saturday in Vienna is a modest…
More oil from the cutters but little net increase from OPEC+
If we sum up the latest news we have the following: 1) Deliberate cutters will increase production in 2H18 and 2019 2) OPEC+ will stay together as a group and they will try to…
More oil from OPEC+ is the base case
Saudi Arabia and Russia have already started to lift production and are arguing for an increase in production at the upcoming OPEC+ meeting next week. Unofficial sources have said…
Total pushed Brent above $80/bl
Total’s message on Wednesday that it will pull out of the Iranian South Pars project unless it gets a project waiver for US Iranian sanctions rolled on in the market yesterday…
Heading for the $80ies/bl
It is difficult to assess exactly how renewed US sanctions towards Iran will play out given many moving parts. But it goes without saying that this is bullish for the oil market.…
Donald D-Day in the oil market
As always it is very difficult to know what Donald Trump is going to do: Reinstate sanctions or not? And today at 2 pm Washington time (5 pm CET) we will know. European diplomats…
Oil recovers as Macron expects Trump to dump Iran deal
Brent crude traded much of the day yesterday on the weak side as API predicted US crude stocks to rise and president Macron placed a revised Iran nuclear deal proposition on…
It’s artificial, but is still real and prices will tick higher
Donald’s tweet on Friday that the OPEC cartel is keeping oil prices artificially high sent Brent crude down to an intraday low of $72.88/bl. The market later in the day totally…
Exceptionally cheap forward crude oil
Brent crude oil is ticking higher by the day as OPEC+ cuts are intact, global oil demand growth is firm (though global economic growth rates seems to have peaked), Venezuela oil…