Tag: NYMEX
Hedge funds turn bearish on oil at record rate: Kemp
Oil traders, hedge funds betting OPEC will fail to reach a production deal at next meeting at end of Nov. By John Kemp LONDON, Nov 15 (Reuters) – Hedge funds turned bearish towards oil prices at the fastest rate on record in the first week of Nov. amid growing doubts about whether OPEC will reach a […]
Oil crude supply drops as gasoline over-supply continues – Platts
At nearly 153 million barrels, US distillate stocks are nearly 15% above 5-year average US gasoline oversupply showing few signs of balancing before the end of the summer, expectations that stocks actually fell last week could help keep the oil complex buoyed in the mid-$40/b range, according to preview of the US Energy Information Administration data […]
EIA data likely to show 2.9M barrels of oil stock build up
Economist Philip Verleger, using monthly storage costs at 50 cents/b, calculated the returns to storage for WTI were positive as of April 1 New York -According to analysis by Platts oil futures editor Geoffrey Craig, with U.S. refinery run rates already quite high, the potential for data this week to show further increases appears limited, and […]
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