Video

Playlist

Show less
1:23
Why I'm looking to buy Brent oil: Lambert
Clive Lambert - FuturesTechs
8 hours ago
1:41
#OP2017: MXNCAD soars, despite Trump — #SaxoStrats
John J Hardy
Yesterday at 15:00 GMT
4:18
Looking to sell crude oil: O'Hare
Steve O'Hare - First 4 Trading
Yesterday at 8:37 GMT
Video / 11 October 2016 at 9:45 GMT

Short-term oil upside possible but watch out — #SaxoStrats

Ole Hansen
There could be further upside in crude oil in the short term, says Ole Hansen, head of commodity strategy at Saxo Bank. 

Oil markets broke higher after Russia agreed to freeze or cut production. Hansen believes, however, that there will ultimately be questions about how the plan will roll out. 

There will be a Opec meeting November 30 where details about the deal will be outlaid.  
11 October
John Roberti John Roberti
dear Ole, assuming that the agreement, what ever it is, is coming into play on January 15 2017 as defined by Saudi's, we would have an extra glut of 700.0000 BPD x 75 days that is an extra glut of 52.5 million barrels and if either Iran or Iraq or Nigeria or Libya or Russia adds up to this production as of august, then the extra glut added could come to easy 70 million barrels! Could this justify an increase in price? Could you tell me if these numbers
are correct
11 October
Ole Hansen Ole Hansen
@John. There are too many moving parts to say whether those numbers will end up being correct. Saudi Arabia the main contributor to a cut is probably already now seeing production taper off as domestic demand slows. The current price rally has got more to do with momentum and technical signals as the negotiations about who does what and by how much has yet to begin.
The profit taking seen so far today has been triggered by the stronger dollar but we are yet to challenge any significant support levels. An update will be available on Tradingfloor shortly.
11 October
John Roberti John Roberti
thanks! it is true that there are a lot of variables into play...
13 October
Karen Holander Karen Holander
This comment has been redacted
Relevant articles for you

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail