Mon, Sep 20, 2021 @ 15:30 GMT

Oil N' Gold

Lasting Impacts of Trump’s Unilateral Withdrawal from Iran Nuclear Deal

Donald Trump confirmed that the US would withdraw from the Iran nuclear deal, an agreement reached in 2015 between Iran, the P5+1 (5 UNSC permanent members including US, France, Russia, UK, China + Germany) and the European Union. New sanctions, both financial sanctions and bans of oil exports, would...

Traders were Bearish on Precious Metals While Stayed Mixed on Energy

Speculators were mixed over the energy complex in the week ended May 1. Net LENGTH for crude oil futures plunged -21 696 contracts from a week ago to 690 727. NET LENGTH of heating oil rose +4 341 contracts to 26 997 while net LENGTH for gasoline dropped -1 940 contracts...

US Crude Oil Inventory Increased Much More Than Expected

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks jumped +5.36 mmb (consensus: +0.74 mmb) to 1187.73 mmb in the week ended April 27. Crude oil inventory soared +6.22 mmb to 435.96 mmb, amidst increases in 3 out of 5...

Traders Mixed over Oil’s Outlook

Speculators were mixed over the energy complex in the week ended April 24. Net LENGTH for crude oil futures plunged -15 708 contracts from a week ago to 712 423. NET LENGTH of heating oil rose +6 420 contracts to 22 656 while net LENGTH for gasoline gained +9 813 contracts...

Crude Oil and Gasoline Inventories Surprisingly Increased

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks gained +1.39 mmb to 1182.36 mmb in the week ended April 20. Crude oil inventory added +2.17 mmb to 429.74 mmb, amidst increases in 3 out of 5 PADDs. The market...

Trader were Largely Bullish on Energy and Precious Metals

Speculators were bullish over the energy complex in the week ended April 17. Net LENGTH for crude oil futures jumped +21 051 contracts from a week ago to 728 131. NET LENGTH of heating oil rose +8 258 contracts to 22 989 while net LENGTH for gasoline gained +4 245 contracts to...

Oil Prices Extend Rally as US Inventories Unexpectedly Declined

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks slumped -10.58 mmb to 1180.97 mmb in the week ended April 13. Crude oil inventory dropped -1.07 mmb to 427.57 mmb, amidst decreases in 3 out of 5 PADDs. Stockpile in...

US Oil Inventories Fell Across the Board

The industry- sponsored API estimated that crude oil inventory decreased -1 mmb in the week ended April 13. Cushing stock also dropped -1 mmb for the week. For refined oil products, gasoline stockpile declined -2.5 mmb while distillate slid -0.85 mmb for the week. The agency also estimated that...

Traders Mixed on Oil as Prices Soared to Fresh 4-Year Highs

Speculators were mixed over the energy complex in the week ended April 10. Net LENGTH for crude oil futures rose +7 535 contracts from a week ago to 707 080. NET LENGTH of heating oil added +330 contracts to 14 31 while net LENGTH for gasoline plunged -7 566...

Oil Prices Gained for Three Days in a Row, Despite Inventory Build

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks soared +5.97 mmb to 1191.55 mmb in the week ended April 6. Crude oil inventory gained +3.31 mmb to 428.64 mmb, amidst increases in 4 out of 5 PADDs. Stockpile in...

Traders Turned Bearish on Both Oil and Gold

CFTC Commitments of Traders Speculators turned bearish over the energy complex in the week ended April 3. Net LENGTH for crude oil futures plunged -16 225 contracts from a week ago to 699 545. NET LENGTH of heating oil slipped -586 contracts to 14 401 while net LENGTH for gasoline...

US Crude Oil and Gasoline Inventories Declined, While Distillate Stockpile Rose Last Week

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks fell -3.94 mmb to 1185.58 mmb in the week ended March 30. Crude oil inventory declined -4.62 mmb to 425.33 mmb, amidst decreases in 4 out of 5 PADDs. Stockpile in...

Crude Oil Prices Supported by Inventory Draw and Russia’s Pledge to Fully Comply with Output Cut

Crude oil prices climbed higher for the second consecutive day as a report showing unexpected expected decline in US inventory. Meanwhile, Russia pledged that it would fully comply with the output cut deal this month. However, caution is advised over the promise as Russian oil output has reached the...

China’s First Renminbi Crude Oil Futures Unlikely Accelerates Currency Internationalization

On March 26, China launched its, and also the world’s, first renminbi-denominated crude oil futures. The debut appeared successful with 20M barrels of oil changed hands on average in each of the first two trading days. This represents 3% of combined WTI and Brent volumes on these days. The...

Traders Were Bullish on Petroleum but Turned Bearish on Natural Gas

CFTC Commitments of Traders With the exception of natural gas, speculators were bullish over the energy complex in the week ended March 27. Net LENGTH for crude oil futures jumped +12 062 contracts from a week ago to 715 7708. NET LENGTH of heating oil gained +1 948 contracts to...