The US shale boom, combined with generous waivers from US sanctions on Iran’s oil exports and the sharp fall in global equity markets, “created a near perfect storm to close out 2018”, according to oilfield [Read more] [Read more]
Hedge funds have started to accumulate bullish positions in crude oil and diesel once more, amid rising optimism about the outlook for the global economy in 2019. ConocoPhillips photo. Hedge funds, investors optimistic about future [Read more] [Read more]
Brent’s six-month calendar spread has strengthened from a contango of almost $1.80 per barrel to just 35 cents over the same period, suggesting OPEC cuts have succeeded in shifting market expectations about the 2019 outlook. [Read more] [Read more]
Unless policymakers either lower US interest rates or conclude trade talks between China and the US, the global economy’s momentum will continue to slacken and push it towards recession. OECD composite leading indicator down, points [Read more] [Read more]
Despite the recent slump in oil prices, forecasts have edged down by less than $5 per barrel compared with the last annual survey conducted at the start of 2018 and have changed little over the [Read more] [Read more]
Fund managers’ cautious positioning in oil suggests they see roughly three equal crude outlook probabilities: Resumption of strong growth; an extended soft patch; or a slump into recession. Linn Energy photo. Cautious crude outlook on [Read more] [Read more]
By the end of last year, diesel futures held by hedge funds had fallen to a level normally associated with a sharp slowdown in economic growth if not an outright recession. Shutterstock photo. Short positions [Read more] [Read more]
The exceptional rally in natural gas prices during the late summer and early autumn has unwound, leaving gas prices back at the low level that has prevailed for the last three years. Natural gas prices [Read more] [Read more]
Concerns about slowing global economic growth are outweighing OPEC+ supply cuts, prompting hedge funds to cut bullish positions in Brent crude futures during the final week in December. Anadarko photo. Hedge funds cut positions in [Read more] [Read more]
There are signs that the dollar’s rise may be coming to an end as trade tensions with China weigh and pressure to raise rates dissipates, lifting prospects for oil prices to recover. BP photo. Oil [Read more] [Read more]
Unless policy makers reverse course and start adopting a more business-friendly approach, a further global slowdown or even a recession is more likely than not in 2019. The Washington Post/Getty Images photo by Jabin Botsford. [Read more] [Read more]
Given the unpredictable environment and the prospect of rising interest rates, major equity markets and commodity prices fell sharply towards the end of the year. Anadarko photo. Commodity prices fell sharply before the end of [Read more] [Read more]
The persistence of coal consumption is consistent with the experience of earlier energy transitions and is one of the central challenges for policymakers concerned about climate change. AP file photo by David Goldman. During energy [Read more] [Read more]
Proved US oil reserves increased by 6.4 billion barrels (19.5 per cent) in 2017 compared with the previous year, according to the US Energy Information Administration. Harvest Oil & Gas image. Shale plays accounted for [Read more] [Read more]
Hedge funds completed the wave of crude oil futures and options sales last week but there were heavy sales of derivatives linked to middle distillates. Hedge funds net sellers of 649 million barrels in the [Read more] [Read more]
Saudi Arabia’s energy minister, Khalid al-Falih, is hoping to convince other OPEC ministers to get on board with output cuts to avoid another oil price crash when the cartel meets in Vienna next week. Bloomberg [Read more] [Read more]
The next move in oil prices will be determined by how US shale firms and Saudi Arabia react to the recent fall in oil prices and whether the global economy slows further. Repsol photo. WTI [Read more] [Read more]
The troika, which is made up of the United States, Russia and Saudi Arabia, has been the driving force behind critical decisions concerning the oil market, pushing out OPEC. Troika production decisions determine if the [Read more]
Rising diesel and jet fuel prices, at least relative to crude and gasoline, are forcing oil market adjustments that should lessen the chance of a severe shortage at the end of next year. Total photo. [Read more]
Global oil markets are increasingly over-supplied with light distillates, such as gasoline, while there are not enough middle distillates, such as diesel, which has opened a big price differential between the two fuels. McEvoy Oil [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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