2022-12-16 12:15:00
OIL: LOCK, STOCK & TWO SMOKING BARRELS
Crude has been very rude,more like a scenario of Lock,Stock & Two Smoking barrels on a week that has been marked with upswings,we saw +3% moves on back to back days in both the Crude Oil Futures and Brent Futures. #XLE also lead the sector during the rally at 84.85(+2.62%) after the #CPI Print that saw US Equities close at high prints with the Dow marking a line at the 34000 handle,Nasdaq at 12300(+3.94%) marking a strong consensus with the Fed pivot on the 50bp rate.
As I write, CL is trading at $76.75/bbl & Brent Futures at $82.16/bbl following the close of the Asia Markets.
Stronger demand Outlook for the Oils should be good vis a vis China Covid policy swings.
OPEC is also in protection of the $80/bbl price floor and I'd suggest to get the buys in at mid 75s to low 72s on the #CL being a value trader coming into 2023.
Majority of the Bear market data has been coming through the Iran pipelines for the past 3 months,making it a catalyst for the claws we have seen come about in the price swings.
There is also Oil 'price caps' data that are intended to bring a somewhat tug of war within the European Energy sector.This should be observed with keen precision as it brings a bad taste in majority of mouths savouring the Energy resources for growth.
US oil reserves fall to lowest since 1984.
US strategic oil reserves #SPR dropped by 4.7 million barrels to 382.3 million barrels between December 2 and 9, the lowest since January 1984, according to data from the weekly review of the Energy Information Administration of the US Department of Energy.
US strategic oil reserves have been falling every week since September 2021.
US President Joe Biden previously cited the release of oil from the strategic reserve as one of the measures to reduce fuel prices.
On some LNG News,we have weather being a catalyst for pricing.
It should be noted that we do have sufficient Natural Gas,the key point is being pipelines as the hindrance.
Keep this in mind as you trade the volatile Natural Gas markets.
Germany’s federal government plans to issue a record volume of debt next year to help fund generous aid for households & comps hit by the energy crisis.
This should help out as the cold winter season kicks in.
As we close the year,I wish you success and many blessings in your endeavour,keep pushing as we grow into collective beings in the celestial context of things.
Afterall,its not over till the fat lady sings.
Andy Warr,
TophatFinance.
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Earlier:
2022, December, 14, 13:10:00
OIL PRICE: BRENT ABOVE $80, WTI ABOVE $75
Brent dropped 17 cents, or 0.2%, to $80.51 per barrel, WTI fell 3 cents to $75.36.
2022, December, 13, 14:00:00
OIL PRICE: BRENT NEAR $79, WTI NEAR $74
Brent rose $1.33, or 1.7%, to $79.32 per barrel, WTI gained $1.15, or 1.6%, to $74.32.
2022, December, 13, 13:55:00
RUSSIAN OIL TO ASIA 3 MBD
Export loadings of Russian crude averaged 3.02 million b/d in the week ending Dec. 11, little changed from the week before and in line with the November average of 3.07 million b/d
2022, December, 12, 15:50:00
OIL PRICE: BRENT ABOVE $75, WTI ABOVE $70
Brent were down 38 cents, or 0.4%, at $75.72 a barrel, WTI was at $70.76 a barrel, down 26 cents, or 0.3%.
2022, December, 12, 15:35:00
НЕФТЬ РОССИИ ДЛЯ ИНДИИ
За первые восемь месяцев 2022 года экспорт российской нефти в Индию вырос до 16,35 млн т, уже летом Россия вышла на второе место по отгрузке нефти в Индию. Увеличились также поставки нефтепродуктов и угля.
2022, December, 7, 11:55:00
OIL PRICE: BRENT ABOVE $79, WTI NEAR $74
Brent edged up 3 cents, or 0.04%, to $79.38 a barrel , WTI were down 9 cents or 0.12% to $74.16 a barrel.
2022, December, 7, 11:50:00
RUSSIAN OIL FOR INDIA UP
Seaborne exports of Russian crude averaged 3.07 million b/d in November, down from 3.09 million b/d in October and just below the pre-war average of 3.1 million b/d in January and February.
