Major Commodities
Name Price Change 1st jan. ST MT LT
1797.25 USD -0.27% -1.48%
Bullish
Neutral
Bearish
80.21 USD -1.34% +6.45%
Bearish
Bearish
Bearish
292.12 PTS -2.43% +15.77%
Bearish
Bearish
Bearish
451.51 PTS -1.51% +1.41%
Bearish
Bearish
Bearish
461.41 PTS +1.99% -7.57%
Bullish
Neutral
Bearish
2368.48 PTS -0.10% -0.88%
Bullish
Neutral
Neutral
Commodities News
All EU governments complete approval of Russian oil price cap RE
OPEC+ will keep oil policy unchanged in review talks - sources RE
Iraqi oil minister says OPEC members committed to agreed production rates RE
Kremlin 'will not accept' oil price cap - agencies RE
RUSSIA 'WILL NOT ACCEPT' OIL PRICE CAP - AGENCIES QUOTE KREMLIN… RE
RUSSIA IS ANALYSING PRICE CAP IMPOSED BY G7 AND ALLIES ON ITS OI… RE
Russia says it won't accept oil price cap and is preparing response RE
Russia: price cap is 'dangerous' and will not curb demand for our oil RE
Zelenskiy's chief of staff: Price cap on Russian oil should be lowered to $30 a barrel RE
G7 agrees to cap Russian crude at $60 per barrel RE
Gas flow resumes from Equitrans Pennsylvania site after November leak RE
UK AND ALLIES ANNOUNCE PRICE CAP OF $60 ON RUSSIAN OIL - HM TREA… RE
Utilities Down as Treasury Yields Rise -- Utilities Roundup DJ
Communications Services Tick Up as Netflix Adds to Gains -- Communications Services Roundup DJ
U.S. Treasury says oil price cap 'institutionalizing' Russian crude discounts RE
Ukraine grain exports down 29.6% at 18.1 mln T so far in 2022/23 RE
Tech Down on November Jobs Report -- Tech Roundup DJ
Dogecoin Lost 1.55% to $0.099 at 5 p.m. ET -- Data Talk DJ
Ethereum Gained 1.11% to $1290.99 at 5 p.m. ET -- Data Talk DJ
Bitcoin Gained 0.50% to $17015.77 at 5 p.m. ET -- 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
85.90 USD -1.49% +11.95%
Bearish
Bearish
Neutral
80.21 USD -1.34% +6.45%
Bearish
Bearish
Bearish
1797.25 USD -0.27% -1.48%
Bullish
Neutral
Bearish
1892.00 USD -1.79% +1.26%
Neutral
Neutral
Bearish
1016.00 USD +0.10% +7.81%
Bullish
Bullish
Neutral
23.09 USD -0.06% -2.60%
Bullish
Neutral
Neutral
17.63 USD -0.96% +21.63%
Bullish
Bullish
Bullish
424.50 USD +0.86% +2.23%
Neutral
Bearish
Neutral
67.85 USc -0.80% +21.49%
Bearish
Neutral
Neutral
635.50 USc -2.23% +7.04%
Bearish
Neutral
Neutral
182.43 USc +0.75% +8.51%
Neutral
Neutral
Bullish
84.58 USc +2.83% +14.61%
Bearish
Bearish
Neutral
153.25 USc +0.13% +9.56%
Bullish
Bullish
Bullish
737.25 USc -2.83% -4.35%
Bearish
Neutral
Bearish
689.50 USc +2.07% +0.95%
Neutral
Bullish
Bullish
20.28 USD +0.40% +9.66%
Bearish
Neutral
Neutral
45.83 USD +1.27% -28.29%
Bearish
Bearish
Bearish
21.70 USc +0.70% +8.46%
Bearish
Bullish
Bearish
143.58 USc +0.70% -7.12%
Bearish
Bearish
Bearish
741.00 USD +0.07% -26.42%
Bearish
Bearish
Bearish
2.025 USD -0.15% +15.36%
Bearish
Neutral
Neutral
396.00 USD -3.65% -64.20%
Bearish
Neutral
Bearish
611.52 PTS -1.51% +8.97%
Bearish
Bearish
Bearish
151.86 PTS -0.15% -3.47%
Neutral
Bearish
Bearish
319.55 PTS -3.21% +15.37%
Bearish
Neutral
Neutral
516.37 PTS -2.81% -1.27%
Bearish
Neutral
Neutral
99.61 PTS +0.67% +0.64%
Bullish
Bullish
Neutral
356.20 PTS +0.67% +10.67%
Neutral
Bullish
Neutral
571.12 PTS +0.61% +6.76%
Bullish
Neutral
Bearish
125.22 PTS -1.90% -26.69%
Neutral
Bearish
Bearish
451.51 PTS -1.51% +1.41%
Bearish
Bearish
Bearish
215.53 PTS +0.76% +6.55%
Neutral
Neutral
Bullish
118.38 PTS -1.94% -26.11%
Neutral
Bearish
Bearish
533.54 PTS -2.16% +8.93%
Bearish
Neutral
Neutral
205.05 PTS -0.71% +3.18%
Bullish
Bullish
Neutral
544.98 PTS -1.60% +6.05%
Bearish
Neutral
Bearish
132.61 PTS +1.37% +10.98%
Neutral
Neutral
Bearish
532.00 PTS +0.29% +11.58%
Bullish
Bullish
Bullish
484.34 PTS -2.63% +5.28%
Bearish
Bearish
Bearish
438.34 PTS -1.54% +6.34%
Bearish
Bearish
Bearish
308.16 PTS -2.01% +14.84%
Bearish
Bearish
Bearish
460.52 PTS -1.52% +9.70%
Bearish
Bearish
Bearish
292.12 PTS -2.43% +15.77%
Bearish
Bearish
Bearish
728.26 PTS -1.51% +11.70%
Bearish
Bearish
Bearish
384.81 PTS -2.60% +39.90%
Bearish
Neutral
Neutral
850.35 PTS -3.86% +37.52%
Bearish
Bearish
Neutral
576.40 PTS -1.11% +6.26%
Bearish
Bearish
Bearish
181.21 PTS -2.01% +7.68%
Bearish
Neutral
Neutral
539.87 PTS -0.74% +3.90%
Neutral
Bearish
Neutral
510.38 PTS -0.46% +2.22%
Neutral
Bearish
Bearish
294.08 PTS -6.78% +68.39%
Neutral
Neutral
Neutral
598.98 PTS +1.42% -13.23%
Neutral
Neutral
Bearish
2368.48 PTS -0.10% -0.88%
Bullish
Neutral
Neutral
161.00 PTS +2.42% -9.73%
Bullish
Neutral
Bearish
1212.44 PTS -1.50% -0.58%
Neutral
Neutral
Bearish
272.89 PTS -2.46% +6.25%
Bullish
Bullish
Neutral
261.89 PTS +1.36% -5.71%
Bullish
Neutral
Bearish
242.95 PTS -0.06% -13.40%
Neutral
Bearish
Bearish
329.88 PTS +1.37% -5.17%
Bullish
Neutral
Neutral
1135.25 PTS +1.59% -0.44%
Bullish
Bullish
Neutral
462.45 PTS +4.57% +38.21%
Neutral
Bullish
Bearish
461.41 PTS +1.99% -7.57%
Bullish
Neutral
Bearish
1053.56 PTS -0.31% -1.04%
Bullish
Neutral
Bearish
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