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.…
bjarne schieldrop
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…
Holy cow it is cheap – Brent crude Dec 2021 is dirt cheap in real Euro terms
Looking at Brent crude in euro terms captures both crude oil bakcwardation, euro inflation and dollar weakening. Looking only in dollar terms then you loose the element that…
Successful production cuts but exit is not so easy
Brent crude oil is trading up 0.2% this morning to $71.5/bl supported by Kuwait’s statement that OPEC will discuss extending production cuts to 2019 at its June meeting in…
Oil hurt by trade war concerns but fundamentals are bullish
Oil demand growth is super strong, inventories are declining, oil production in Venezuela is collapsing, renewed disturbances in Libya, OPEC+ is all in on production cuts, high…
A two currency oil market
China today launched its long awaited yuan denominated oil contract at the International Energy Exchange (INE) in Shanghai. Seven crude streams from UAE, Qatar, Oman, Yemen Iraq…
More downside to come – 2018 buying opportunity sailing up
It is very clear that Brent crude oil has followed the general risk-on/risk-off movements in global equities so far this year. The catalyst and the real mover of the oil price so…