Mon, Jun 14, 2021 @ 09:36 GMT

Oil N' Gold

CFTC Commitments of Traders – Bets on Higher Crude Oil Prices Increased amid Demand Hopes

According to the CFTC Commitments of Traders report for the week ended June 8, NET LENGTH for crude oil futures jumped +19 202 contracts to 510 499 for the week. Speculative long position rose +18 717 contracts, while shorts dropped -485 contracts. For refined oil products, NET LENGTH for...

Gasoline and Distillate Inventories Built on Sharp Fall in Demand

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks soared +15.47 mmb to 1293.31 mmb in the week ended May 28. Crude oil inventory plunged -5.24 mmb (consensus: -2.04 mmb) to 474.03 mmb. Stockpile decreased in 2 out...

CFTC Commitments of Traders – Bets on Higher Crude Oil Prices Jumped Last

According to the CFTC Commitments of Traders report for the week ended June 1, NET LENGTH for crude oil futures jumped +15 807 contracts to 491 297 for the week. Speculative long position rose +13 067 contracts, while shorts dropped -2 740 contracts. For refined oil products, NET LENGTH...

Decline in US Crude Inventory More than Doubled Consensus

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +1.92 mmb to 1277.85 mmb in the week ended May 28. Crude oil inventory sank -5.08 mmb (consensus: -2.44 mmb) to 479.27 mmb. Stockpile decreased in 3 out...

CFTC Commitments of Traders – Net Length for WTI Crude Trimmed as Price Approached Two Months’ High

According to the CFTC Commitments of Traders report for the week ended May 25, NET LENGTH for crude oil futures dropped-457 contracts to 475 490 for the week. Speculative long position rose +13 038 contracts, while shorts soared +13 495 contracts. For refined oil products, NET LENGTH for heating...

Rise in Petroleum Demand Signals Pickup in US Economic Activities

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -7.67 mmb to 1275.92 mmb in the week ended May 21. Crude oil inventory fell -1.66 mmb (consensus: -1.05 mmb) to 484.35 mmb. Stockpile decreased in 4 out...

CFTC Commitments of Traders – Bets on Crude Oil Trimmed as Iran Sanctions Prone to be Lifted

According to the CFTC Commitments of Traders report for the week ended May 18, NET LENGTH for crude oil futures sank -20 614 contracts to 475 947 for the week. Speculative long position fell -37 588 contracts, while shorts were down -16 974 contracts. Bets were trimmed on both...

US Crude Oil Inventory Increased for First Time in 3 Weeks

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slipped -0.23 mmb to 1283.59 mmb in the week ended May 14. Crude oil inventory increased +1.32 mmb (consensus: +1.68 mmb) to 486.01 mmb. Stockpile increased in 4 out...

CFTC Commitments of Traders – Net Length in Gold Futures Increased as Price Strengthened to 3-Month High

Precious metal prices gained ground last week as the surge in coronavirus pandemic in India raised safe haven demand. Traders signaficantly increased bets on high gold and silver prices last week. According to the CFTC Commitments of Traders report for the week ended May 11, NET LENGTH for crude oil...

Prolonged Outage in US Gasoline Pipeline Could Pressure Crude Oil Price

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +3.89 mmb to 1283.82 mmb in the week ended May 7. Crude oil inventory dropped -0.43 mmb (consensus: -2.82 mmb) to 484.69 mmb. Stockpile declined in 2 out...

Upside in Crude Oil Prices Limited as OPEC+ is Prone to Ramp Up Output

Oil output from OPEC-10 and the nine non-OPEC producers joined the “output-cut” deal increased to 34.43M bpd in April, up from 34.26M bpd a month ago. The total compliance level slipped -0.2 ppt to 111%. Saudi Arabia’s voluntary cut of 1M bpd continued to contribute significantly to overall compliance....

Copper Price Soars to New Record. Supply is Unlikely to Keep Pace with Demand as Major Economies Shift to Green Energy

The recent rally in copper price has been driven by potential supply deficit in coming years. Stimulus measures rolled by major economies, such as the US, the UK and China, have put strong focus on green energy. Developments of which are expected to significantly raise demand for copper. Meanwhile,...

CFTC Commitments of Traders – Traders Bet on Higher Crude Oil Prices

According to the CFTC Commitments of Traders report for the week ended May 4, NET LENGTH for crude oil futures soared +10 302 contracts to 500 013 for the week. Speculative long position gained +8 377 contracts, while shorts declined -1 925 contracts. For refined oil products, NET LENGTH...

Crude Oil Price Rose to 7-Week High before Retreat as Inventory Sharply Declined

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -5.58 mmb to 1279.94 mmb in the week ended April 30. Crude oil inventory slumped -7.99 mmb (consensus: -2.35 mmb) to 485.12 mmb. Stockpile declined in 2 out...

CFTC Commitments of Traders – Bets on Higher Crude Oil Price Trimmed as OPEC+ Sticks with Output Increase

According to the CFTC Commitments of Traders report for the week ended April 27, NET LENGTH for crude oil futures plunged -10 272 contracts to 489 711 for the week. Speculative long position slipped -567 contracts, while shorts declined -9 705 contracts. OPEC+ has confirmed to increase output by...

US Crude Inventory Increased, but Less than Expected

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -1.63 mmb to 1285.52 mmb in the week ended April 23. Crude oil inventory climbed higher, by +0.09 mmb (consensus: +0.66 mmb) to 493.11 mmb. Stockpile increased in...

CFTC Commitments of Traders – Traders Bet Crude Oil Prices to Go Higher

According to the CFTC Commitments of Traders report for the week ended April 20, NET LENGTH for crude oil futures gained +7 305 contracts to 499 983 for the week. Speculative long position rose +7 060 contracts, while shorts slipped -245 contracts. For refined oil products, NET LENGTH for...

CFTC Commitments of Traders – Bets on Lower Crude Oil Price Soared

According to the CFTC Commitments of Traders report for the week ended April 13, NET LENGTH for crude oil futures plunged -19 047 contracts to 492 678 for the week. Speculative long position dropped -5 430 contracts, while shorts rose +13 617 contracts. For refined oil products, NET LENGTH...

WTI Crude Oil Price Jumped as US Inventory Fell More than Expected

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plummeted -9.05 mmb to 1283.58 mmb in the week ended April 9. Crude oil inventory slumped -5.89 mmb (consensus: -2.89 mmb) to 492.42 mmb. Stockpile decreased in 3 out...

Crude Oil Prices to Hover around Current Levels as Supply Increases amidst Better Demand Outlook

Both crude oil benchmarks have been range-bounded after pulling back from the peaks in early March. Although global economic recovery is still underway and the pandemic situation has largely stabilized, the ramp-up of output by OPEC members and non-OPEC producers have raised concerns over whether the growth in world...