Tag: John Kemp
Column: Distillate fuel oil market set to tighten in 2018
Most distillate fuel oil used for high-powered engines By John Kemp LONDON, Nov 17 – US refineries are struggling to meet booming demand for distillate fuel oil at home and in export markets which will leave the distillate market very tight in 2018. Even if the northern hemisphere winter is only averagely cold, the distillate […]
Column: US natural gas prices rise as traders reassess gloomy outlook
US natural gas prices up by almost 10 per cent since beginning of November By John Kemp LONDON (Reuters) – US natural gas prices have bounced by almost 10 per cent since the start of the month as traders reassess their earlier bearish view this winter amid signs sentiment had become far too gloomy. Futures […]
Column: US gasoline and diesel markets look tight
US gasoline and diesel stocks fall despite record refinery runs By John Kemp LONDON, Nov 9 – US stocks of gasoline and diesel continue to fall, despite record refinery runs, in a sign of strong demand at home and in export markets. U.S. refineries processed a seasonal record 16.3 million barrels per day (b/d) of […]
Column: Hedge funds go all-in on oil
Hedge funds build bullish positions on almost all parts of petroleum complex By John Kemp LONDON, Nov 6 – Hedge funds have built record or near-record bullish positions in almost all parts of the petroleum complex anticipating that prices will keep rising. Hedge funds and other money managers had amassed a net bullish position in […]
Column: Saudi Arabia purge takes kingdom into unpredictable new era
Saudi Arabia now controlled by King Salman and Crown Prince Mohammed bin Salman By John Kemp LONDON, Nov 6 – The wave of arrests and ministerial changes in Saudi Arabia at the weekend has fundamentally transformed the structure of the state as it has existed since the 1960s. Saudi Arabia has practised a form of collective […]
Column: Oil market set to move from rebalancing to tightening
Oil market rebalancing began before OPEC pact By John Kemp LONDON, Oct 30 – The oil market is now well into a cyclical upswing and within the next year the narrative about “rebalancing” is likely to be replaced by one about “tightening”. Rebalancing started well before the production pact between the Organization of the Petroleum […]
Column: Brent crude tries new trading range as funds stay bullish
Brent crude may climb towards $65/barrel: Fund managers By John Kemp LONDON, Oct 30 – Hedge funds have added to bullish positions in oil and most refined products even as prices hit their highest since 2015, in a sign investors expect prices to move into a higher range. Hedge funds and other money managers had […]
Column: Options for extending OPEC supply cut pact
Political leaders, oil traders push for extension of OPEC supply cut pact By John Kemp LONDON, Oct 26 (Reuters) – Senior officials from the Organization of the Petroleum Exporting Countries and its allies are already discussing an extension of their production accord beyond its scheduled expiry at the end of March 2018. Current production limits […]
Column: OPEC must think about exit strategy
OPEC, allies half-way toward goal of reducing oil inventories By John Kemp LONDON, Oct 25 – Smoothly exiting from the current output pact, and perhaps replacing it with another agreement, has become the most important policy question for the Organization of the Petroleum Exporting Countries and its allies. Under the current “declaration of cooperation”, issued […]
Column: Backwardation beckons for WTI as US crude stocks fall
US crude stocks in Cushing may soon peak By John Kemp LONDON, Oct 24 – US crude prices appear set to follow the international Brent benchmark from contango into backwardation in the next few months as oil inventories in the United States dwindle. US commercial crude stocks have fallen by 23 million barrels since the […]
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