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Oil Prices
26-03-2018, 10:20 AM. (This post was last modified: 26-03-2018, 10:20 AM by weijian.)
Post: #1231
RE: Oil Prices
The history of Brent and WTI could be traced back to the oil production sources. Chinese are big buyers from Central Asia/Russia, probably these suppliers of crude oil would be inclined to use them instead?

China's First Ever Yuan Oil Futures Begin Trading in Shanghai

Rival to U.S.’s WTI and U.K.’s Brent trades at 440 yuan/barrel
Futures in Shanghai are about $3/barrel higher than WTI crude

China launched its first ever crude-futures contract as the world’s biggest oil buyer seeks to wield greater power over pricing and challenge benchmarks in the U.S. and Europe.

https://www.bloomberg.com/news/articles/...n-shanghai

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27-03-2018, 03:57 PM.
Post: #1232
RE: Oil Prices
Oil Holds Above $65 as Easing Trade Tensions Offset Supply Fears

By Sharon Cho
March 27, 2018, 8:32 AM GMT+8 Updated on March 27, 2018, 3:23 PM GMT+8

Oil traded above $65 a barrel as easing fears of a global trade war offset concerns over rising U.S. crude stockpiles, boosting prices to near the highest level this year.

Futures in New York were up 0.1 percent after closing 0.5 percent lower on Monday. A resurgence in risk appetite has helped lift markets from global equities to commodities after a report the Trump administration is to be urging China to lower tariffs as part of talks to resolve rising trade tensions. Still, concerns over American shale oil remain, with analysts forecasting a gain in U.S. crude inventories last week.

Oil has recovered to near recent highs seen in January after President Donald Trump appointed John Bolton as national security adviser, signaling the U.S. may pursue a more hard-line approach against Iran and disrupt outflows from the OPEC member. While global stockpiles are tightening in a sign that the Organization of the Petroleum Exporting Countries and its allies’ production cuts are working, fears still remain that surging U.S. production could thwart those efforts.

More details in https://www.bloomberg.com/news/articles/...-expanding
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07-05-2018, 02:34 PM.
Post: #1233
RE: Oil Prices
Iran fears send oil above $70 for first time since 2014
Rising oil prices just passed another milestone, jumping above $70 per barrel in Monday morning trade in Asia.

by Jethro Mullen
May 7, 2018: 2:13 AM ET

Oil prices have been climbing partly because of expectations that President Donald Trump will abandon the 2015 Iran nuclear deal, which allowed Iran to export more crude.

This is the first time the US crude benchmark has been above $70 since November 2014.

"The focus of oil markets is currently on the US president's pending decision on the fate of the Iran nuclear deal," said Victor Shum, an oil industry analyst at research firm IHS Markit.

The recent surge in prices suggests markets are assuming there will be some disruption to Iran's exports, Shum said. Trump has to decide by May 12 whether to bring back sanctions against the country.

US oil prices have gained more than 16% since the start of the year. Brent, the global benchmark, is up around 13%.

More details in http://money.cnn.com/2018/05/06/investin...index.html
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15-05-2018, 04:53 PM.
Post: #1234
RE: Oil Prices
Investors see big oil surge, but physical markets suggest caution

Devika Krishna Kumar, Libby George, Florence Tan
May 15, 2018

NEW YORK/LONDON/SINGAPORE (Reuters) - Oil futures prices have soared past three-year highs, OPEC’s deal has cut millions of barrels of inventory worldwide and investors are betting in record numbers that prices could rocket past $80 and even hit $90 a barrel this year.

But physical markets for oil shipments tell a different story. Spot crude prices are at their steepest discounts to futures prices in years due to weak demand from refiners in China and a backlog of cargoes in Europe. Sellers are struggling to find buyers for West African, Russian and Kazakh cargoes, while pipeline bottlenecks trap supply in west Texas and Canada.

The divergence is notable because traditionally, physical markets are viewed as a better gauge of short-term fundamentals. Crude traders who peddle cargoes to refineries worldwide say speculators are on shaky ground as they drive futures markets above $70 a barrel, their highest levels for three-and-a-half years, on concerns about tighter supply from Venezuela and the potential impact of U.S. sanctions on supply from Iran.

Investors have piled millions of dollars in record wagers in the options market, betting on a further rally on the back of rising geopolitical tensions, particularly in Iran, Saudi Arabia and Venezuela, and the global decline in supply.

“Guys who are trading futures have a view that draws are coming and big draws are coming,” a U.S.-based crude trader at a global commodity merchant said, adding that demand could ramp up as global refinery maintenance ends.

More details in https://www.reuters.com/article/us-globa...IG0GG?il=0
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14-06-2018, 10:40 AM.
Post: #1235
RE: Oil Prices
Oil shortage or surplus? Floating storage swamps Europe
https://www.hellenicshippingnews.com/oil...ps-europe/
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16-06-2018, 10:32 AM. (This post was last modified: 16-06-2018, 10:35 AM by BlueKelah.)
Post: #1236
RE: Oil Prices
Trump is throwing his weight around and getting what he wants. Lower oil prices and making China sweat. Tough negotiator indeed.

Russia has shown their disinterest in the OPEC cartel by trashing Saudi football team! Oil price should be back to $40 pretty soon once all the oil majors start flooding supply and Chinese EV push lowers demand.
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02-12-2018, 08:24 PM.
Post: #1237
RE: Oil Prices
Why oil prices plunge?

2018.12.01【文茜世界周報】卡舒吉葬禮前一天 沙國公佈11名嫌犯名單
https://www.youtube.com/watch?v=7vCZVZ8G...AU&index=4
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