Tag: stocks
Lower OPEC compliance rates are muddying global oil rebalance – IEA
Global oil demand growing faster than expected, latest IEA estimate for 2017 raised to 1.5 million b/d The re-balancing of the oil market desired by the leading producers has been a stubborn process and it takes time for the numbers to confirm what many observers instinctively feel has already happened, according to the International Energy […]
Oil investor confidence wanes – IEA
Current market balance implies a global stock draw of 0.7 million b/d in Q2 2017 Oil investors are going through a period of waning confidence with prices recently returning to levels not seen since early Nov., according to the International Energy Agency. Brent prices have closed below $50/bbl each day since early June and few investors expect […]
Distillate export boom keeps US refiners busy: Kemp
Most distillate being exported to Mexico, Brazil and other countries in Latin America By John Kemp US refiners have become a powerhouse of distillate exports, causing the supply-demand balance for fuels from the middle of the barrel to tighten in the United States despite a very warm winter. Exports of distillate fuel oil (e.g. diesel) […]
Opinion: Saudi Arabia tries to drain oil stocks while protecting customer relationships
Many oil traders have been assuming a sharp drop in Saudi exports By John Kemp LONDON, March 23 (Reuters) – Saudi Arabia faces a difficult balancing act as it tries to work down excess global crude stocks while protecting relationships with important refining customers in the United States and Asia. Saudi Aramco exports most of […]
US gasoline stocks rising much faster than usual: Kemp
Hedge funds established largest bullish position in gasoline futures and options since July 2014 By John Kemp LONDON (Reuters) – U.S. gasoline stocks are rising much faster than normal at the start of the year, threatening to leave refiners struggling to clear an overhang of motor fuel later in the year. Gasoline stockpiles rose by […]
US EIA data likely to show crude stocks falling 250,000 barrels
Crude oil storage in the US is profitable again Wednesday’s pivotal OPEC ministerial meeting could overshadow the release of weekly US inventory data that same day; however, a large enough change in US petroleum stocks could inject additional volatility into a market already on edge, according to an S&P Global Platts preview of this week’s […]
EIA data likely showing crude oil stocks rising 2 million barrels – Platts
In addition to stronger than typical imports, crude stocks likely backstopped by expected reduction in US refinery run Run cuts at many US refineries and strong imports likely kept US crude oil inventories well-supplied last week, according to an S&P Global Platts preview of this week’s pending US Energy Information Administration oil stocks data. Gasoline […]
US crude oil stocks likely to rise 425,000 barrels – Platts
Analysts looking for stocks draw last week of 625,000 barrels, which if confirmed, will make a minor dent in the surplus A likely drop in US refinery utilization is expected to have pushed crude inventories higher last week, although the size of that build could be offset by a loss of oil production in the […]
US EIA data shows global oil supply/demand re-balance may be underway
Brent’s contango narrowed sharply Monday, suggesting that a tightening of the global supply and demand balance could already be underway While oil futures have rallied this past week over talk of a more balanced global market, any prolonged price increase must grapple with bloated US crude oil inventories just as the market enters its typical […]
Third Point makes more new bets on energy, cuts stake in Dow
Third Point made nearly two dozen new investments in US stocks By Svea Herbst-Bayliss BOSTON, Aug 12 (Reuters) – Billionaire investor Daniel Loeb’s hedge fund Third Point added new bets in the energy and information technology sectors with investments in Whiting Petroleum Corp., Facebook and Activision Blizzard Inc, according to regulatory filings on Friday. Third Point, […]
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