OPEC Monthly Oil Market Report April 2024

The OPEC Monthly Oil Market Report (MOMR) for April released Thursday provides OPEC’s outlook for crude oil market developments for the coming year with key developments impacting oil market trends in world oil demand and supply. OPEC and its allies are voluntarily cutting their production by about 2 million barrels a day, a policy that will be reviewed at their next meeting on June 1.  MOMR Highlights OPEC Monthly Oil Market Report April 2024 US Rig, output and DUC Summary … Continue reading “OPEC Monthly Oil Market Report April 2024”

Around The Barrel – Crude Oil and Gasoline Outlook in Geopolitical Mist

Prices have been boosted by the unsettling geopolitical background and a continuing asset rally with stock indices at record highs in the US and elsewhere. Oil futures continue to rise with safe haven bids from ongoing Ukrainian attacks on Russian refineries and the potential for a widening of the Middle East conflict after Israel is believed to have killed Iran commanders in Syria. Israel has not claimed responsibility for the attack. Iran, the third-largest OPEC producer, vowed revenge against Israel. … Continue reading “Around The Barrel – Crude Oil and Gasoline Outlook in Geopolitical Mist”

Traders Market Weekly: War, Inflation and Central Banks

April 7, 2024 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Volatility The Week That Was – What Lies Ahead? Contents Click on the links below to navigate to the relevant section. Editorial Volatility picked up this week, no surprise a new quarter, heighted geopolitical risk and rates rising. Oil continued to run higher and climbed for the sixth consecutive day Friday, nearing $87/bbl with supply concern … Continue reading “Traders Market Weekly: War, Inflation and Central Banks”

Around The Barrel – Oil Traders Quarterly Recap and Outlook.

EIA reported a crude build of +3.210Mbbls. offset by draws in gasoline and diesel. Gasoline stocks fell -4.256M. Distillate drew -1.268Mbbls in inventories. The WTI Futures Hub at Cushing stocks rose with a +2.107Mbbls build. Domestic US oil production was unchanged at 13.1mbpd just off the all-time high 13.3mbpd. Refinery demand unexpectedly slowed. Refinery utilization fell -0.1% to 88.6%. Implied gasoline demand (4-wk avg.) rose for as seventh week to near 9m b/d. There was +600Mbbls added to SPR inventory … Continue reading “Around The Barrel – Oil Traders Quarterly Recap and Outlook.”

Traders Market Weekly: A Magical Green First Quarter for Stocks

March 31, 2024 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… AI, Jobs and Inflation The Week That Was – What Lies Ahead? Contents Click on the links below to navigate to the relevant section. Editorial Another remarkable quarter with the S&P 500 building on a five-month winning streak, the last time this happened to end a first quarter was back in 2013. With the shift in … Continue reading “Traders Market Weekly: A Magical Green First Quarter for Stocks”

Around The Barrel – Crude Oil and Gasoline Traders Outlook

EIA reported a crude build of +3.165Mbbls. Gasoline stocks rose +1.299M, the most since January 19. Distillate drew -1.185Mbbls in inventories. The WTI Futures Hub at Cushing stocks rose with a 2.107Mbbls build. Domestic US oil production was unchanged at 13.1mbpd just off the all-time high 13.3mbpd. Refinery utilization rose +0.9% to 82.4%. There was +700Mbbls added to SPR inventory WoW. Coming into the end of the quarter the slow rise of oil price volatility continues in a tight range … Continue reading “Around The Barrel – Crude Oil and Gasoline Traders Outlook”

Traders Market Weekly: Rates, Banks and Herd Mentality

January 24, 2024 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Rates, Banks and Herd Mentality The Week That Was – What Lies Ahead? Contents Click on the links below to navigate to the relevant section. Editorial Another week, another record high as the feral bull market of 2024 marches on. The three major US indices hit new record highs. The S&P 500 closed over 5,200 for … Continue reading “Traders Market Weekly: Rates, Banks and Herd Mentality”

Around The Barrel: Volatile Oil Markets Impact on Traders

Oil prices volatility continues in a tight range continue with Chinese woes, currency moves and Mid East threats dictating. Oil futures settled higher for the fifth straight session Friday after escalating Middle East tensions contributed to a significant rise in crude-oil benchmark prices over the past week. NYMEX West Texas Intermediate crude for March delivery settled at $76.84 a barrel advancing 6.3% for the week. It was the largest five-day percentage gain for the U.S. benchmark since Dec. 20. This … Continue reading “Around The Barrel: Volatile Oil Markets Impact on Traders”

OPEC Monthly Oil Market Report February 2024

The OPEC Monthly Oil Market Report (MOMR) for February 2024 released Tuesday provides OPEC’s outlook for crude oil market developments for the coming year with key developments impacting oil market trends in world oil demand and supply. Saudi Arabia’s energy minister said that OPEC stands ready to alter its policy at any time the day before the release. The report comes after Oil prices have pulled back but remained volatile after initially surging rose after the Hamas/Israel war. OPEC blames … Continue reading “OPEC Monthly Oil Market Report February 2024”

China and America, a Tale of Two Markets – Traders Market Weekly

Feb 11-17, 2024 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… The Week That Was – What Lies Ahead? Contents Click on the links below to navigate to the relevant section. Editorial While stock markets in America, Australia, France and Germany have all tagged record highs in this thrust higher a huge point of difference is while U.S. equities are in the throes of a major speculative … Continue reading “China and America, a Tale of Two Markets – Traders Market Weekly”