Mon, Dec 06, 2021 @ 10:33 GMT

Oil N' Gold

CFTC Commitments of Traders – Traders Remained Bearish over Commodity Prices amidst Omicron Uncertainty

According to the CFTC Commitments of Traders report for the week ended November 30, NET LENGTH of crude oil futures slumped -20 423 contracts to 387 234. Speculative longs added +1 276 contracts while shorts soared +21 699 contracts. For refined oil products, NET LENGTH for heating oil declined...

US Crude Oil Inventory Dropped Less than Expected. Price Continued to Fall on Omicron Concerns

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose +4.27 mmb to 1222.16 mmb in the week ended November 26. Crude oil inventory dropped -0.91 mmb to 433 mmb, compared with consensus of a -1.24 mmb decrease....

CFTC Commitments of Traders – Global Commodity Prices Slumped on Omicron Worries

According to the CFTC Commitments of Traders report for the week ended November 23, NET LENGTH of crude oil futures sank -8 128 contracts to 407 657. Speculative longs added +417 contracts while shorts jumped +8 545 contracts. For refined oil products, NET LENGTH for heating oil dropped -1...

US Crude Inventory Surprisingly Increased

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -5.98 mmb to 1217.89 mmb in the week ended November 19. Crude oil inventory added +1.02 mmb to 434 mmb, compared with consensus of a -0.48 mmb increase....

CFTC Commitments of Traders -Bets on Crude Oil Price Declined Sharply on Both Sides

According to the CFTC Commitments of Traders report for the week ended November 16, NET LENGTH of crude oil futures dropped -5 527 contracts to 415 785. Speculative longs slumped -42 410 contracts while shorts fell -36 883 contracts. Bets were trimmed on both sides as price correction form...

US Crude Oil Inventory Surprisingly Dropped. Yet, This Fails to Rescue Price Decline

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -8.87 mmb to 1223.87 mmb in the week ended November 12. Crude oil inventory dropped -2.1 mmb to 433 mmb, compared with consensus of a +1.4 mmb increase....

Gold Remains Firm in Near-term as Central Banks Downplayed Rate Hike Expectations

Gold price consolidates at the highest level in 2 months. Its recent rally has been driven by major banks’ attempt to tame rate hike expectations. We expect its strength to remain in the near-term. However, elevated inflation would eventually force central banks to reduce monetary stimulus and increase the...

CFTC Commitments of Traders – Profit Taking Continued in Energy Futures

According to the CFTC Commitments of Traders report for the week ended November 2, NET LENGTH of crude oil futures dropped -4 425 contracts to 419 293. Speculative longs dropped -4 425 contracts while shorts gained +2 885 contracts. For refined oil products, NET LENGTH for heating oil dropped...

US Crude Oil Inventory Gained More Than Expected, Weighing on Prices

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +0.63 mmb to 1233.92 mmb in the week ended October 29. Crude oil inventory rose +3.29 mmb to 434.1 mmb, compared with consensus of a +2.23 mmb increase....

CFTC Commitments of Traders – Bets Reduced on Crude Oil Futures as Price Soared to Highest since 2014

According to the CFTC Commitments of Traders report for the week ended October 26, NET LENGTH of crude oil futures dropped -5 876 contracts to 423 718. Speculative longs slumped -15 549 contracts while shorts fell -9 673 contracts. Bets were trimmed on both sides as price consolidated as...

CFTC Commitments of Traders – Relentless Rally Sent Crude Oil Price to 7 Year High

According to the CFTC Commitments of Traders report for the week ended October 19, NET LENGTH of crude oil futures jumped +24 818 contracts to 429 594. Speculative longs added +1 719 contracts but shorts plunged -23 099 contracts. The front-month WTI crude contract rallied 7 weeks in a...

Crude Oil Inventory Surprisingly Dropped, Supporting Price

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -9.81 mmb to 1228.91 mmb in the week ended October 15. Crude oil inventory slipped -0.43 mmb to 426.54 mmb, compared with consensus of a +1.86 mmb increase....

CFTC Commitments of Traders – Energy Prices Remain Strong as Power Shortage Persists

According to the CFTC Commitments of Traders report for the week ended October 12, NET LENGTH of crude oil futures rose +6 469 contracts to 404 776. Speculative longs jumped +15 440 contracts while shorts increased +8 971 contracts. For refined oil products, NET LENGTH for heating oil added...

OPEC+ Under-produced Despite Energy Crisis

OPEC+ produced less than promised despite global energy shortage. The alliance comprised of 10 OPEC members, 9 non-OPEC producers and 3 OPEC members exempted from quotas produced a total of 40.73M bpd in September, compared with 40.26M bpd a month ago. Output from OPEC-10 and non-OPEC aggregated to 36.57M...

CFTC Commitments of Traders – Energy Prices Rallied amidst Concerns of Prolonged Power Shortage

Energy prices rallied across the board as the problem of energy shortage across the globe has exacerbated. According to the CFTC Commitments of Traders report for the week ended October 5, NET LENGTH of crude oil futures rallied +24 493 contracts to 398 307. Speculative longs jumped +21 038...

CFTC Commitments of Traders – Bets Trimmed on Gas Price after Sharp Rally

According to the CFTC Commitments of Traders report for the week ended September 28, NET LENGTH of crude oil futures jumped +17 836 contracts to 373 814. Increase in speculative longs clearly outweighed that of shorts. For refined oil products, NET LENGTH for heating oil added +700 contracts to...

European Gas Price Triples amidst Supply Disruption and Rising Demand

European gas price has kept breaking new records over the past months. Both higher-than-usual demand and supply shortage have led to the price strength. As winter is approaching, we expect price to remain at elevated levels in the months to come. The front-month Dutch TTF gas contract has remained firm...

CFTC Commitments of Traders – Natural Gas Prices Soared on Shortage. Demand is Prone to Increase Further as Cold Weather Approaches

According to the CFTC Commitments of Traders report for the week ended September 21, NET LENGTH of crude oil futures added +914 contracts to 355 978. Bets on both sides fell with speculative longs and shorts down -6 263 contracts and -7 177 contracts, respectively. For refined oil products,...

US Crude Oil Inventory Fell More than Expected, while Gasoline Stockpile Gained

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -8.78 mmb to 1234.64 mmb in the week ended September 170. Crude oil inventory fell -3.48 mmb (consensus: -2.44 mmb) to 413.96 mmb. Stockpile fell in 4 out...

CFTC Commitments of Traders – Net Longs Increased in Crude Oil Futures on Supply Disruption Concerns

According to the CFTC Commitments of Traders report for the week ended September 14, NET LENGTH of crude oil futures rose +5 906 contracts to 355 064. Although Hurricane Nicholas receded, disruption to US Gulf crude output could take some time to recover. For refined oil products, NET LENGTH...