Major Commodities
Name Price Change 1st jan. ST MT LT
GOLD 1754.26 USD -0.06%-4.04%
Bullish
Neutral
Bearish
CRUDE OIL 76.53 USD -1.80%+2.86%
Bearish
Bearish
Bearish
S&P GSCI ENERGY INDEX 289.31 PTS -2.41%+17.50%
Bearish
Bearish
Neutral
S&P GSCI AGRICULTURE INDEX 461.63 PTS -0.38%+4.08%
Neutral
Bearish
Bearish
S&P GSCI INDUSTRIAL METALS INDEX 430.63 PTS -0.82%-13.02%
Neutral
Neutral
Bearish
S&P GSCI PRECIOUS METALS INDEX 2303.68 PTS +0.07%-4.13%
Bullish
Neutral
Bearish
Commodities News
South Korea transport ministry to meet with striking truckers union on Monday RE
ADRs End Mixed; ArcelorMittal, Credit Suisse Trade Actively DJ
Dogecoin Gained 9.92% to $0.089 at 5 p.m. ET -- Data Talk DJ
Ethereum Gained 0.37% to $1199.67 at 5 p.m. ET -- Data Talk DJ
Bitcoin Lost 0.21% to $16503.19 at 5 p.m. ET -- Data Talk DJ
ICE Grain/Oilseed Review: Canola Lower, Retreats from Early Gains DJ
Wheat Plunges 2% Amid Concerns Over Global Demand -- Daily Grain Highlights DJ
Front Month ICE Brent Crude Fell 4.55% This Week to Settle at $83.63 -- Data Talk DJ
CANADA FX DEBT-C$ dip as oil prices fall; ends little changed for week RE
30-Year Treasury Yield Falls to 3.751% This Week -- Data Talk DJ
10-Year Treasury Yield Falls to 3.701% This Week -- Data Talk DJ
2-Year Treasury Yield Falls to 4.479% This Week -- Data Talk DJ
LIVESTOCK-CME livestock futures slip after short, choppy trading day RE
Nasdaq falls and dollar rises on investor caution RE
Nonfarm Payrolls Seen +200K -- Data Week Ahead DJ
Philip Morris Unveils New Regional Structure DJ
SOFTS-Arabica coffee rises, gains more than 6% in the week RE
Front Month Nymex ULSD Fell 7.93% This Week to Settle at $3.2391 -- Data Talk DJ
Front Month Nymex RBOB Gasoline Fell 3.83% This Week to Settle at $2.3282 -- Data Talk DJ
Front Month Nymex Crude Fell 4.78% This Week to Settle at $76.28 -- Data Talk DJ
More news
MarketScreener Strategies
The Puzzle of Oil Demand Assessment

The Puzzle of Oil Demand Assessment

There is a calm mood in the markets, which certainly best illustrate the uncertainty of the operators, torn between the hopes of an economic recovery and the fears of a second wave of Covid-19s here and abroad. In other words, oil prices rise when macroeconomic conditions improve and then fall when advanced indicators of crude oil demand deteriorate. Therefore, while prices have been moving favourably since the beginning of May, the volatility is clearly reduced, and is severe, reflecting the low amplitude of the last weekly candlesticks. The weekly performances are practically null, one summer is boring and annoying; the image of the last OPEC+ meeting. The meeting was conducted via video conference and discussions focused on compliance rates of the members of the organization. As such, while fundamentals have improved in recent months with a reduction in the gap between global supply and demand, the cartel insists on the fragility of demand, without announcing new measures to restrict supply. It is therefore appropriate to take a more measured and consistent view of consumption and production expectations for the coming months. After having been particularly optimistic in recent months, the International Energy Agency (IEA) has revised its forecasts for demand, which are expected to fall by 8.1 million barrels per day (mbpd) this year and then rise by 5.2 mbpd in 2021. A forecast which remains at least more favourable than that of OPEC, which expects a similarly severe destruction of demand; 9.1 mbd in 2020. Graphically, in weekly data, Brent prices are progressing slowly but surely, making it possible to fill the gap opened on March 9. If the price of Brent crude oil falls below this level, which is roughly USD 46, it could reach the next major levels of USD 49 (moving average; 50 weeks) and then the psychological threshold of USD 50 per barrel. On the other hand, as long as the prices remain tied, we will favour the consolidation scenario, which is technically and fundamentally legitimate, through this technical zone.
ZB September 01, 2020 at 11:58 am
Oil :  The Holy Grail of rebalancing at your fingertips?

Oil: The Holy Grail of rebalancing at your fingertips?

What a twist. Two months after crossing the absolute zero line, US crude oil is trading at $41, up more than 90% since May 1st. The trajectory is similar for the European benchmark, which is trading above USD 43 per barrel. Several factors are contributing to this spectacular rebound in oil prices. In addition to the efforts made by OPEC+ to improve the global supply situation (the reduction agreement having been extended for one month), the market consensus, initially very pessimistic on the state of demand, has gradually recovered. The International Energy Agency (IEA) is now expecting a record increase in demand next year, which will help to rebalance the market. In a similar vein, the Energy Information Agency (EIA) has raised its price expectations for crude oil prices this year. This is a result of the decline in US production, which is expected to reach around 11.56 million barrels per day (mbd) in 2020, compared to a rate of 13 mbd at the start of the year.  Source: EIA Global supply/demand balance according to the IEA, which sees the market balanced from Q3 onwards Nevertheless, it will be necessary to be particularly attentive to the evolution of these bull markets, especially the trend of the supply side. The expanded cartel is expected to lift its quota policy, while US players could quickly bring back into service several wells that have been drilled but not fractured. Higher prices make many sites profitable, complicating OPEC's efforts to regulate supply. Rising truck prices are effectively a break-even point. This is all the more true for shale oil companies since they remain the most flexible players in adjusting their production.  US production could thus recover by 500,000 barrels per day in the coming weeks. In terms of order of magnitude, the U.S. supply balance has contracted significantly since the beginning of the year, from 12.9 million barrels per day (mbpd) to 10.5 mbpd. Wells drilled but not fractured are expected to boost U.S. production, but this could be unsustainable if investment spending does not recover. On a weekly basis, Brent crude oil prices rebounded significantly, virtually closing the gap that opened on March 9. The trend is sharp; normalization with a return of prices to their moving averages. In the shorter term, prices have remained in the range of USD 38 to 44 for the past three weeks. We will thus be able to act in the same way as in the other direction; the exit from this congestion zone.
ZB June 23, 2020 at 03:29 pm
More Strategies
All Commodities
Name Price Change 1st jan. ST MT LT
CRUDE OIL 83.79 USD -1.44%+8.31%
Bullish
Bearish
Neutral
CRUDE OIL 76.53 USD -1.80%+2.86%
Bearish
Bearish
Bearish
GOLD 1754.26 USD -0.06%-4.04%
Bullish
Neutral
Bearish
PALLADIUM 1851.00 USD -1.80%-0.92%
Neutral
Neutral
Bearish
PLATINUM 984.10 USD  0.00%+2.02%
Bullish
Bullish
Neutral
SILVER 21.38 USD -0.45%-7.76%
Bullish
Bearish
Bearish
RAW RICE 18.14 USD +0.72%+23.10%
Bullish
Bullish
Bullish
SOY FLOUR 408.70 USD -0.24%-0.49%
Neutral
Bearish
Neutral
SOYA OIL 74.49 USc -0.56%+33.06%
Bullish
Neutral
Neutral
CORN 667.25 USc +0.60%+11.80%
Bearish
Neutral
Neutral
LIVESTOCK 178.68 USc -0.32%+7.42%
Bullish
Bullish
Bullish
PORK 84.58 USc +2.83%+14.61%
Bearish
Bearish
Neutral
LIVE CATTLE 153.10 USc -0.16%+9.77%
Bullish
Bullish
Bullish
WHEAT 771.50 USc -2.77%+2.95%
Bearish
Neutral
Neutral
OATS 689.50 USc +2.07%+0.95%
Neutral
Bullish
Bullish
MILK CLASS III 21.05 USD +0.10%+14.22%
Bearish
Neutral
Neutral
MILK POWDER 47.28 USD -0.63% 0.00%
Bearish
Bearish
Bearish
MILK CLASS IV 23.33 USc -0.09% 0.00%
Bearish
Bullish
Bearish
LIGHT MILK POWDER 150.50 USc -0.28%-1.67%
Bearish
Bearish
Bearish
PALM OIL 741.00 USD +0.07%-26.42%
Bearish
Bearish
Bearish
CHEESE 2.091 USD +0.05%+18.94%
Bearish
Neutral
Neutral
LUMBER 422.30 USD -2.25%-62.37%
Bearish
Bearish
Bearish
S&P GSCI FPI INDEX 604.91 PTS -1.62%+9.54%
Bearish
Bearish
Neutral
S&P GSCI CLASS III MILK 152.32 PTS  0.00%-3.19%
Bullish
Bearish
Bearish
S&P GSCI SOYBEAN OIL INDEX 351.35 PTS -0.68%+27.72%
Bearish
Neutral
Neutral
S&P GSCI WHEAT INDEX 540.80 PTS -2.03%+5.55%
Bearish
Neutral
Neutral
S&P GSCI COCOA INDEX 97.56 PTS +1.64%-3.02%
Bullish
Bullish
Neutral
S&P GSCI LIVESTOCK 351.77 PTS -0.29%+9.61%
Bullish
Bullish
Neutral
S&P GSCI SOY BEANS INDEX 570.22 PTS +0.02%+7.22%
Neutral
Bearish
Bearish
S&P GSCI COFFEE INDEX 127.11 PTS +1.41%-28.02%
Bearish
Bearish
Bearish
S&P GSCI AGRICULTURE INDEX 461.63 PTS -0.38%+4.08%
Neutral
Bearish
Bearish
S&P GSCI FEEDER CATTLE INDEX 210.63 PTS -0.53%+5.47%
Bullish
Neutral
Bullish
S&P GSCI COTTON INDEX 114.09 PTS -3.28%-26.38%
Bullish
Bearish
Bearish
S&P GSCI CORN INDEX 554.18 PTS +0.75%+12.31%
Bearish
Neutral
Neutral
S&P GSCI SUGAR INDEX 203.47 PTS -1.13%+3.55%
Bullish
Bullish
Neutral
S&P GSCI GRAINS INDEX 561.83 PTS -0.24%+9.58%
Bearish
Neutral
Bearish
S&P GSCI LEAN HOGS INDEX 129.78 PTS -0.34%+8.99%
Bullish
Neutral
Bearish
S&P GSCI LIVE CATTLE INDEX 529.44 PTS -0.19%+11.26%
Bullish
Bullish
Bullish
S&P GSCI UNLEADED GASOLINE INDEX 482.75 PTS -4.04%+7.57%
Bearish
Bearish
Neutral
S&P GSCI CRUDE OIL INDEX 418.06 PTS -2.32%+3.63%
Bearish
Bearish
Neutral
S&P GSCI PETROLEUM INDEX 300.21 PTS -2.13%+12.04%
Bearish
Bearish
Neutral
S&P GSCI ALL CRUDE INDEX 444.45 PTS -2.02%+6.30%
Bearish
Bearish
Neutral
S&P GSCI ENERGY INDEX 289.31 PTS -2.41%+17.50%
Bearish
Bearish
Neutral
S&P GSCI BRENT CRUDE INDEX 712.43 PTS -1.68%+9.46%
Bearish
Bearish
Neutral
S&P GSCI HEATING OIL INDEX 384.78 PTS -3.97%+40.92%
Bearish
Neutral
Bullish
S&P GSCI GAS OIL INDEX 846.40 PTS -0.63%+37.75%
Bearish
Neutral
Bullish
S&P GSCI REDUCED ENERGY INDEX 569.87 PTS -1.27%+6.40%
Bearish
Bearish
Neutral
S&P GSCI BIO FUEL INDEX 188.37 PTS -0.42%+12.41%
Neutral
Neutral
Neutral
S&P GSCI LIGHT ENERGY INDEX 533.49 PTS -0.95%+3.66%
Bearish
Bearish
Neutral
S&P GSCI ULTRA LIGHT ENERGY INDEX 504.17 PTS -0.71%+1.73%
Neutral
Bearish
Bearish
S&P GSCI NATURAL GAS INDEX 343.20 PTS -4.90%+106.65%
Bullish
Neutral
Neutral
S&P GSCI COPPER INDEX 2 567.12 PTS +0.03%-17.88%
Bullish
Neutral
Bearish
S&P GSCI PRECIOUS METALS INDEX 2303.68 PTS +0.07%-4.13%
Bullish
Neutral
Bearish
S&P GSCI ALUMINUM INDEX 149.39 PTS -1.55%-14.91%
Bullish
Bearish
Bearish
S&P GSCI PALLADIUM INDEX 1167.60 PTS -3.03%-1.26%
Neutral
Neutral
Bearish
S&P GSCI PLATINUM INDEX 262.57 PTS -0.62%+2.88%
Bullish
Bullish
Neutral
S&P GSCI ALL METALS INDEX 247.47 PTS -0.55%-10.41%
Bullish
Neutral
Bearish
S&P GSCI ZINC INDEX 230.37 PTS +0.67%-18.44%
Neutral
Bearish
Bearish
S&P GSCI LEAD INDEX 317.14 PTS +0.52%-9.31%
Bullish
Neutral
Neutral
S&P GSCI SILVER INDEX 1055.13 PTS -0.03%-7.82%
Bullish
Neutral
Neutral
S&P GSCI NICKEL INDEX 407.04 PTS -3.33%+25.84%
Neutral
Bullish
Bearish
S&P GSCI INDUSTRIAL METALS INDEX 430.63 PTS -0.82%-13.02%
Neutral
Neutral
Bearish
S&P GSCI GOLD INDEX 1029.81 PTS +0.48%-3.33%
Bullish
Neutral
Bearish
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