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- Oil traders saw more of the same this week with range bound flat price, strong brent and WTI spreads, weak gasoline spreads and option…
- Oil wrestled with positive fundamental expectations and bearish present circumstances this week to remain glued to the $53 mark. In the present, stress of…
- WTI snapped out of a two week coma on Wednesday trading to a low of $51.22 following an API report revealing a 14m bbl…
- Oil traded in a painfully dull range yet again this week through Thursday ($54.34 / $52.24) after managing just a $4.53 range in January…
- In recent notes we’ve cited output gains in Libya, stubbornly high Cushing inventories and OPEC skepticism as the key bearish culprits keeping a lid…
WTI traded in a $52.11 - $55.25 range this week driven by sharp moves in currencies, updates related to good and bad behavior on production…
1. Refined product fundamentals still improving (Click to enlarge)We are still seeing the best signs of market rebalance in refined product data. U.S. distillate stocks…
- WTI moved sideways near $53 from the Sunday open through Thursday afternoon, submitting a high of $53.79 and a low of $52.08 along the…
• Oil bulls were all smiles this past weekend when non-OPEC producers lead by Russia agreed to cut production by more than 550k bpd for…
• WTI has traded in a narrow range this week ($52.42/$49.61) heading into tomorrow’s meeting between Russia, Azerbaijan, Kazakhstan, Oman and Mexico which could help…
• OPEC exceeded the market’s expectations this week by creating a plausible deal to reduce output to 32.5m bpd with broad participation (10 members will…
• Less than two weeks before OPEC’s next Most Important Meeting Ever the oil market is doubtful that the cartel will reach a meaningful supply…
• WTI traded in a bearish pattern once again this week taking out last week’s low print and settling $43.41 on Friday following an IEA…
• It’s been a tough 2.5 weeks to be long on oil. After reaching a 2016-high at $51.93 on October 19th WTI lost $7.56 through…
• Oil moved in a narrow $49-$51 range early this week before settling near $49.70 Thursday afternoon. On the bearish side, Russia and Iraq offered…
In sticking with our recent $42-$50 forecast for WTI we underestimated the ability of OPEC + Russia to talk the market up while behaving bearishly.…
• WTI rallied to a weekly high of $48.32 mid-day Thursday following OPEC’s announcement that it will agree to limit production to between 32.5m bpd…
• OPEC leadership’s discussion of its upcoming meeting dominated oil market headlines this week and helped lead a $4 rally from Monday through Thursday in…
• WTI fell from $47 to under $43.40 through Thursday this week with help from a strong USD, growing fatigue among market participants about OPEC’s…
• Prompt WTI traded in a $48.40/$46.42 range through Thursday morning as bearish inputs included additional exports from Iraq following a completion of a deal…