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  • Article / 13 July 2016 at 8:51 GMT

    Crude rally fades as inventories come into focus

    Head of Commodity Strategy / Saxo Bank
    Denmark
    Crude rally fades as inventories come into focus
    WTI crude oil rallied hard yesterday with the market seeing significant short-covering from funds who have stepped up selling in recent weeks. Improved risk appetite on fading Brexit concerns and speculation about additional stimulus helped offset short-term concerns about an oversupply of crude oil and products.
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    13 July
    Ole Hansen Ole Hansen
    The IEA released its monthly report earlier. Below some IEA comments (via Reuters):
    “In mid-summer 2016, although market balance is upon us, the existence of very high oil...
    13 July
    Ole Hansen Ole Hansen
    Huge stocks overhang threatens oil price recovery: IEA - http://www.reuters.com/article/us-iea-oil-idUSKCN0ZT0R0
    13 July
    John Roberti John Roberti
    Dear Ole, production is increasing in Alaska and quasi flat in 48 states thus this will not help the glut in world oil stock; furthermore gasoline stocks...
  • 11 July
    Ole Hansen Ole Hansen
    Bullish Brent crude oil bets reduced for a fourth consecutive week. In the week to July 5 hedge funds cut the Brent crude net-long by 4.5% to...
    11 July
    Ole Hansen Ole Hansen
    The orderly reduction of bullish oil bets continue. The combined net-long down 27% to 484k lots from April 26 peak
  • Article / 06 July 2016 at 9:35 GMT

    Crude oil sliding as gasoline weakness reverberates

    Head of Commodity Strategy / Saxo Bank
    Denmark
    Crude oil has returned to the lower end of its established range with increased macro uncertainty raising concerns about demand at a time where supply disruptions continue to fade. The market is focusing on the continued weakness in gasoline, a key driver for crude oil demand.
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    06 July
    Philidor Philidor
    Hi Ole! Crude seems to be trading in a tightening downward channel (the highs are getting lower, the lows less so). Do you think it will break...
    06 July
    Philidor Philidor
    I mean the range during the last 5-6 weeks or so, of course.
    11 July
    Justme54 Justme54
    How can last week EIA report have such a large variance from last wek API report?
  • Article / 06 July 2016 at 1:27 GMT

    Global Market Report: Watch for near-term weakness in S&P/ASX200

    Global Investment Analyst / Rivkin
    Australia
    Global Market Report: Watch for near-term weakness in S&P/ASX200
    Some near-term weakness is likely in Australia's benchmark S&P/ASX200. Turning to leading international indices, the S&P500 continues to trace out large trading range. And the Nikkei 225 will look for a higher low above 14,790 before turning bullish. In commodities, gold has made gains recently, but there is a growing risk of near-term pause for the yellow metal. And a bullish flag pattern for WTI crude opens up the possibility of a move towards $60/barrel. We also look at the outlook for natural gas.
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    06 July
    OrofitAccumulator OrofitAccumulator
    James - Should this Ozzy Sharemarket weakness now be Bought for next Advance ahead ???
    06 July
    MarcPrice MarcPrice
    XAGUSD ?
  • 29 June
    Ole Hansen Ole Hansen
    Just looking at inventories and production estimates this report is bullish for crude oil considering the bigger than expected decline. The bigger than exp. inventory drop was...
    29 June
    Ole Hansen Ole Hansen
    John. The production decline and inventory rise triggered the initial reaction but considering how the inventory drop was achieved i could see oil struggle to make much...
    29 June
    John Roberti John Roberti
    thanks Ole, in fact, prices appear to stabilize now at least! Let's see what they will do later. It appeared a few times already that the market...