SEB Commodities price outlook
Macro: Hot US, cold China, expensive energy, and a looming food crisis. The US economy is super-hot like it is running on steroids following trillions of USD in stimulus during…
seb analys
OPEC+ is holding good cards and a steady course
OPEC+ is to meet virtually in Vienna today for its official half-yearly meeting. The bull-recipe is still intact: ”Reviving demand, muted US shale oil response and…
One year after USD -37.63/bl
It is exactly one year since WTI crashed to USD -37.63/bl. Yes, it was probably trading games involved. Yes, it was highly specific to storage and pipeline constraints at the…
Iranian nuclear negotiations at center stage
Brent crude is trading like it is April with snow one day and sunshine the next. We currently have spring refinery maintenance with reduced processing of crude by refineries and…
Getting to zero, getting the job done
Politicians have been talking and talking for decades but with only marginal improvements in terms of emission reductions. Primarily because actually doing the job has earlier…
Prices pull back as market awaits OPEC+ and demand signals
The Brent crude oil August contract traded briefly above the $40/bl line yesterday but has now pulled back again as the market is awaiting a decision by OPEC+ whether to roll…
Additional cuts is positive for the market and a gift to US/Canada
Additional cuts of 1.2 m bl/d in June from Saudi/Kuwait/UAE yesterday failed to rejoice the oil market and the Brent crude oil price fell 4.3% instead. Today though oil prices are…
The crude oil market in June – Less of a crowded place
Saudi Arabia today reduced its official selling prices (OSPs) to Asia in June and crude oil prices are bouncing 6-9% on the back of that news. It signals that Saudi Arabia sees…
Price action signals a rapidly balancing market (2021 oil is cheap)
It is a huge challenge to be an oil analyst these days because the changes are so fast, the magnitudes are so large and exact numbers are so hard to pinpoint. Early…
Relief rally and saber rattling, but bearish selling pressure is set to return
Oil contracts are having a 10% relief rally today as Monday’s price crash moves away. It was predominantly the small investors who lost their shirts and not the professionals.…