SCS Commodities has been providing energy and agricultural brokerage services to institutional traders since 1991. As commodity derivatives have evolved from open outcry to electronic markets, SCS has remained at the forefront of independent brokerages. SCS' 24 hour OTC desk, manned by veteran brokers, gives customers continuous coverage of commodities markets around the world.
Last Friday we argued that the rally in WTI and Brent looked overstretched from technical and positioning viewpoints. This week obviously didn’t serve our viewpoint…
- Oil markets appeared to be firing on all cylinders this week. Flat price brent reached a 5-month high on Friday at $56.91 and is…
- Crude oil flat price, spreads, refining margins and product spreads all mean-reverted this week as PADD III refineries came back on line to the…
- Harvey dominated trading this week with downside blowouts in WTI time spreads and WTI/Brent arbs while product spreads and crack margins spiked to multi…
-WTI traded in an unusually narrow $48.75/$47.03 range this week despite an extreme weather event in the world’s refining hub and geopolitical tensions in from…
-Global crude oil inventories are drawing rapidly. US crude supplies have dropped from 536m on in late March to 466m (a 20-month low) as of…
- WTI registered its best week of the year on strong fundamental data, OPEC progress and currency tailwinds. The physical market is showing signs of…
WTI has traded in a $3.90 range so far in July ($43.65 / $47.55) and the sideways price action has lead to waning market enthusiasm…
- WTI traded in a $44-$47 range this week lifted by a 7.6m bbl US inventory draw and positive demand data in Europe and China.…
- Oil found much needed support from currency markets this week on a strong EUR/USD following comments from ECB chief Mario Draghi that the Eurozone’s…
- 2Q’17 wasn’t supposed to go like this! Heading into the spring the broad consensus in the oil market was that aggressive global inventory draws…
- Over the last three weeks strong WTI spreads served as a key reminder of bullish fundamental expectations as flat price sold off sharply. This…
- WTI and brent suffered more losses this week despite two strong excuses to rally. Firstly, EIA data delivered the type of numbers that bulls…
- Crude oil’s bearish troubles in 2017 have largely been due to a lack of OECD inventory draws despite significant production cuts from OPEC +…
-We’re viewing this week’s flat price damage as a function of bullish frustrations and momentum chasing rather than new bearish fundamental revelations. In short, we…
- The majority of recent oil market coverage has focused on bearish flies in the physical rebalance ointment including elevated OECD crude + refined product…
- In a 1999 episode of the iconic TV series The West Wing (yes, iconic) President Jed Bartlet was dealing with a crisis. The Syrian…
- WTI rallied back into $50 territory this week with help from positive OPEC speak regarding an output cut renewal, production outages in Libya, Iraq…
- Crude oil’s drop back into the high $40s has renewed concerns that efficiency gains from North American frackers will lead to another low/mid $40s…
- WTI traded to a 3.5 month low on Tuesday at $47.09 after OPEC members shook production cut deal confidence for a second straight week.…