At the OPEC+ meeting over the weekend, the members hoorayed for the compliance to the production cut deal, which is expected to reduced output by 1.2M bpd for 6 months through June. As noted in the accompanied statement, “overall...
According to the CFTC Commitments of Traders report for the week ended March 12, NET LENGTH for crude oil futures gained +13 464 contracts to 362 265 for the week. Speculative long positions added +2 513 contracts while shorts...
According to the CFTC Commitments of Traders report for the week ended March 5, NET LENGTH for crude oil futures soared +21 130 contracts to 348 801 for the week. Speculative long positions rose +11 421 contracts while shorts...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -2.49 mmb to 1263.03 mmb in the week ended February 22. Crude oil inventory plunged -8.65 mmb to...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -2.49 mmb to 1263.03 mmb in the week ended February 15 Crude oil inventory added +3.67 mmb to...
Crude oil prices rallied, sending the WTI and Brent benchmarks to the highest level since November 2017. Investors shrugged off rising US shale rig counts and higher inventory, but focused on hopes of resolution to US-China trade war. Adding...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks jumped +6.53 mmb to 1265.51 mmb in the week ended February 8. Crude oil inventory added +3.63 mmb to...
Oil prices have got limited boost after the US imposed sanctions on Venezuela’s oil exports. The direction of oil price movement is ultimately driven by the expectations of demand and supply balance. Oil demand is anticipated to reduce for...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -3.36 mmb to 1258.98 mmb in the week ended February 1. Crude oil inventory added +1.26 mmb to...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -4.77 mmb to 1262.34 mmb in the week ended January 25. Crude oil inventory added +0.92 mmb to...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +6.7 mmb to 1267.11 mmb in the week ended January 18. Crude oil inventory soared +7.97 mmb to...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +5 mmb to 1260.4 mmb in the week ended January 11. Crude oil inventory fell -2.68 mmb to 437.06...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +13.28 mmb to 1255.44 mmb in the week ended January 4. Crude oil inventory fell -1.68 mmb to 439.74...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks gained +14.62 mmb to 1242.16 mmb in the week ended December 28. Crude oil inventory rose +0.01 mmb to 441.42 mmb...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks dropped -2.05 mmb to 1227.54 mmb in the week ended December 21. Crude oil inventory slipped -0.05 mmb (consensus: -2.87 mmb)...
According to the CFTC Commitments of Traders report for the week ended December 18, NET LENGTH for crude oil futures climbed modestly higher as the decline in speculative short positions outweighed that in long positions. NET LENGTH added +102...
The deal made by OPEC+ to cut output had only limited boost the oil prices. The renewed selloff in crude oil prices, indicating another leg of downturn, is driven by concerns over global growth slowdown, decline in stock markets...
According to the CFTC Commitments of Traders report for the week ended December 11, NET LENGTH for crude oil futures continued to fall. Speculative long positions of crude oil futures slipped -708 contracts, while shorts jumped +19 932 contracts,...
According to the CFTC Commitments of Traders report for the week ended November 27 NET LENGTH for crude oil and gasoline futures continued to fall. Speculative long positions of crude oil futures declined -17 170 contracts, while shorts gained...
Crude oil prices have steadied after the sharp correction over the past 7 weeks. Supporting the recovery are hopes of OPEC or OPEC+ production cut next month. OPEC and non-OPEC producer would meet in Vienna on December 6, discussing...