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- 05 Jun '22 at 7:14 pm #38073
TradersCom
KeymasterWTI Futures open over $120 bbl after Saudi Arabia raised #oil prices to Asia & Europe more than expected
Saudi #Aramco raised main grade for Arab Light for Asian customers by $2.10 to $6.50 above benchmark, market expected +$1.50
Aramco raised all grades for NW Europe and Mediterranean region,
Prices for US customers remained unchanged
NB: President Joe Biden’s planned visits to Saudi Arabia and Israel later this month have been postponed until July, several officials told NBC News on Friday.06 Jun '22 at 7:35 pm #38140TradersCom
KeymasterSeems everyone is doing it..
Goldman Sachs raise their #oil projections again citing supply shortfalls.
Brent crude will need to average $135bbl back half of 2022 and into first half of 2023 for inventory to normalize in H2 of 2023
06 Jun '22 at 7:36 pm #38141TradersCom
KeymasterBarclays raise their Brent crude price forecasts by US$11/bbl for 2022 & US$23/bbl for ’23
via Reuters, Barclays:
raising Brent crude price forecast by $11/b for 2022 and $23/b for 2023, and turn constructive with respect to the curve and consensus
No longer expect a normalization of inventories over forecast horizon, because of expectation of a much larger & sustained disruption in Russian supplies
Expect Russian oil output to decline 1.5 mb/d by the end of the year
Increase q4-to-q4 us oil supply forecasts to 1 mb/d in 2022 and 0.7 mb/d in 2023, but see limited upside risk08 Jun '22 at 12:48 pm #38301TradersCom
KeymasterThere she goes again …
WTI settled at $122.11/bbl after EIA Stocks report
11 Jun '22 at 7:30 am #38038TradersCom
KeymasterU.S. crude oil prices continued higher, WTI closed above $120 for the first Friday since 2008 as it settled at $120.67 and held onto seventh-straight
[See the full post at: Around The Barrel – Crude Oil and Gasoline Outlook in Inflationary Cycle] - AuthorPosts
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