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2022-07-05 11:55:00

STRONG OIL VOLATILITY

STRONG OIL VOLATILITY

 

Last week we saw major volatility on the Oil tabs especially on the Bearish alignment,as the rangebound zones maintained within the Crude Oil WTI(ranging between highs of $114.20/bbl & lows of $107.25/bbl), #BRENT bracing a 2$/bbl range while Natural Gas #NG being very volatile with a lot of Geopoliticals in play.

Whipsaws have been experienced each day on the #NG.

COT on #Commodities covering the week to June 28 saw speculators respond to a cont. loss of momentum driven by recession/demand worries by cutting bullish bets by 16% to a 23-month low.
We should look into disruption in the travel sector since summer is here.

On the sanctions tabs,there is still talks of placing an Oil cap on Russian imports while on the balance,talks of demand destruction have been evident.

Lots of talk of “price caps”, but we should remember two things:

1:#Russia is exporting more #Oil at higher $/bbl than in ‘21

2: it’s already redirecting large flows to India/China and a growing opaque market.

Major US Cash equity trades are muted as we are having the 4th July holiday break.

European equities are higher at an average of 1% per piece.

On Copper, as a main indicator of global economic health;Westpac states:

Given the current macro backdrop, #Copper doesn’t seem to have a lot going for it after trading below $8,000 for first time in 18m Friday. The sharp weakening in global data pulse has been a factor behind 22% drop in last 3 months.

As we look forward to the 2nd half of the year,I wish you wealth and growth.

 

Andy Warr,

TophatFinance.

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Earlier:

STRONG OIL VOLATILITY
2022, July, 4, 13:10:00
OIL PRICE: BRENT ABOVE $111, WTI ABOVE $108
Brent fell 33 cents, or 0.3%, to $111.30 a barrel, WTI slipped 40 cents, or 0.4%, to $108.03.
STRONG OIL VOLATILITY
2022, July, 4, 13:05:00
OPEC OIL PRICE: $113.20
The price of OPEC basket of thirteen crudes stood at $113.20 a barrel
STRONG OIL VOLATILITY
2022, July, 4, 12:35:00
IRANIAN OIL RISES
Iran could increase production to levels before the sanctions, he said, without giving an estimate of current output.
STRONG OIL VOLATILITY
2022, June, 28, 12:10:00
OIL PRICE: BRENT NEAR $117, WTI ABOVE $111
Brent climbed $1.9, or 1.7%, to $116.99, WTI rose $1.8, or 1.6%, to $111.36 a barrel.
STRONG OIL VOLATILITY
2022, June, 28, 12:05:00
OPEC OIL PRICE: $112.35
The price of OPEC basket of thirteen crudes stood at $112.35 a barrel
STRONG OIL VOLATILITY
2022, June, 24, 11:55:00
OPEC OIL PRICE: $111.09
The price of OPEC basket of thirteen crudes stood at $111.09 a barrel
STRONG OIL VOLATILITY
2022, June, 24, 11:50:00
OPEC+ OIL PRODUCTION WILL UP
"OPEC+ is not going to change the plans at this month's meeting," an OPEC+ source said. Four other sources made similar remarks.
All Publications »
Tags: OIL, PRICE, OPEC, RUSSIA,
Chronicle:
STRONG OIL VOLATILITY
2022, August, 15, 12:14:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
STRONG OIL VOLATILITY
2022, August, 15, 12:13:00
2022 SAUDI PIPELINES INTERNATIONAL CONFERENCE & EXIBITIONS
Eventat Co (a Saudi local company) is hosting the first-ever “2022 Saudi Pipelines International Conference & Exhibitions” from 4-6 October, 2022 at the Dhahran Expo, Dammam (Eastern Province), Kingdom of Saudi Arabia. The three-day conference and exhibition are dedicated to bringing together over “50+ Regional/International speakers, 100+ Sponsors/Exhibitors, 1000+ Delegates and 3000+ Visitors” from around the globe who carry significant interest in enhancing the pipelines lifecycle for the current and future.
STRONG OIL VOLATILITY
2022, August, 15, 12:12:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
STRONG OIL VOLATILITY
2022, August, 15, 12:10:00
SAUDI ARAMCO NET INCOME UP TO $87.9 BLN
The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its financial results for the second quarter of 2022, posting a 90% year-on-year (YoY) increase in net income
STRONG OIL VOLATILITY
2022, August, 15, 12:05:00
U.S. RIGS DOWN 1 TO 763
U.S. Rig Count is down 1 from last week to 763, Canada Rig Count is down 2 from last week to 201.
STRONG OIL VOLATILITY
2022, August, 12, 09:10:00
OIL PRICE: BRENT NEAR $99, WTI NEAR $94
Brent fell 49 cents, or 0.5%, to $99.11 a barrel, WTI fell 50 cents, or 0.5%, to $93.84 a barrel.
STRONG OIL VOLATILITY
2022, August, 12, 09:05:00
OPEC OIL PRICE: $101.29
The price of OPEC basket of thirteen crudes stood at $101.29 a barrel
All Publications »