The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -3.78 mmb to 1303.57 mmb in the week ended July 4. Crude oil inventory slumped -9.5 mmb to...
According to the CFTC Commitments of Traders report for the week ended July 2, NET LENGTH for crude oil futures rose +14 007 contracts to 392 810 for the week. Speculative long positions jumped +16 239 contracts and shorts...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks increased +2.47 mmb to 1307.35 mmb in the week ended June 27. Crude oil inventory fell -1.09 mmb to...
OPEC+ agreed to extend production cuts of -1.2M bpd 9 months to March 31, 2020. The extension came in longer than market expectations of 6 months, when the group meets to renegotiate further extension in December 2019. Another surprise...
According to the CFTC Commitments of Traders report for the week ended June 25, NET LENGTH for crude oil futures rose +15 716 contracts to 378 803 for the week. Speculative long positions fell -5 808 contracts but shorts...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks decreased -11.89 mmb to 1304.89 mmb in the week ended June 21. Crude oil inventory slumped -12.79 mmb to...
According to the CFTC Commitments of Traders report for the week ended June 18, NET LENGTH for crude oil futures rose +24 140 contracts to 363 087 for the week. Speculative long positions fell -12 708 contracts but shorts...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks decreased -0.41 mmb to 1316.77 mmb in the week ended June 14. Crude oil inventory fell -3.11 mmb to...
According to the CFTC Commitments of Traders report for the week ended June 11, NET LENGTH for crude oil futures dived -48 513 contracts to 351 655 for the week. Speculative long positions plunged -23 490 contracts while shorts...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose another week, by +9.56 mmb to 1317.18 mmb in the week ended June 7. Crude oil inventory gained...
Energy prices remained weak. We expect the bearish trend to carry on although OPEC+ would likely announce to extend output cut at the June 25 meeting. According to the CFTC Commitments of Traders report for the week ended June...
Having fallen over -20% from April's peak, oil price has uncomfortably entered a bear market. Intensification of US- China trade war, slowdown in economic growth in major economies, Brexit uncertainty and other geopolitical factors have heightened concerns about the...
According to the CFTC Commitments of Traders report for the week ended May 28, Bearish sentiment was broadly-based in the energy market. NET LENGTH for crude oil futures slumped -39 460 contracts to 438 938 for the week. Speculative...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -1.57 mmb to 1285.49 mmb in the week ended May 24. Crude oil inventory slipped -0.28 mmb to...
According to the CFTC Commitments of Traders report for the week ended May 21, NET LENGTH for crude oil futures declined -9 410 contracts to 478 398 for the week. Speculative long positions slumped -22 000 contracts while shorts...
Crude oil price weakened for a third consecutive day. Besides the risk-off mode driven by intensifying US-China trade war, further increase in oil inventory has substantiated near-term bearishness in the oil market. The report from the US Energy Information...
OPEC+ stayed put, maintaining the output cut agreed in December last year while pledging to monitor market developments with an option to raise production later. In our opinion, there is no practical need for OPEC+ to officially raise output....
According to the CFTC Commitments of Traders report for the week ended May 14, NET LENGTH for crude oil futures fell -6 528 contracts to 487 808 for the week. Speculative long positions declined -8 810 contracts while shorts...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks surged +14.64 mmb to 1270.26 mmb in the week ended May 10. Crude oil inventory rose 5.43 mmb to...
Trump's announcement of raising tariff of Chinese imports to 25%, from 10%, has renewed concerns over the US-China trade war, and its impacts on global economic outlook. The uncertainty has dampened energy prices. According to the CFTC Commitments of...