Chile
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Write a Squawk to Cristian Puentes
  • Article / 24 February 2015 at 9:45 GMT

    Contango blowout keeping WTI under pressure

    Head of Commodity Strategy / Saxo Bank
    Denmark
    Contango blowout keeping WTI under pressure
    WTI crude is trading lower as rising production and a slowdown in rig closures adds to the glut. Meanwhile, the contango between the first and second futures contract has blown out to $1.55/barrel and this is taking its toll on oil ETFs.
    Read the article
  • Squawk / 12 December 2014 at 10:22 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Selling pressure in crude oil continue despite a near 20 percent drop since the November OPEC meeting. Yesterday the monthly OPEC report once again cut estimates for how much the cartel need to produce in 2015 and today we have seen the IEA make similar downgrades:
    IEA CUTS FORECAST OF GLOBAL OIL DEMAND GROWTH FOR 2015 BY 230,000 BPD TO 900,000 BPD
    IEA SAYS NON-OPEC OIL PRODUCTION RISES BY RECORD 1.9 MILLION BPD IN 2014, TO INCREASE BY 1.3 MILLION BPD IN 2015
    IEA CUTS FORECAST OF DEMAND FOR OPEC CRUDE IN 2015 BY 300,000 BPD TO 28.9 MILLION BPD
    "Several years of record high prices have induced the root cause of today’s rout: a surge in non‐OPEC supply to its highest growth ever and a contraction in demand growth to five‐year lows."
    The IEA are also raising worries about some OECD members ability to store oil as global inventories continue to rise. That would be a worst case scenario for oil as no available storage would force even lower prices to force supply destruction.
    Read the Squawk
    4y
    buelte buelte
    no more physical storage in leased tankers waiting for the market to catch a bid, this sounds truely like a paradigm shift. Thx Mr Hansen, always spot...
    4y
    AIRLINE AIRLINE
    Thanks Ole,

    As usual always good up to date information!

    Have a look at this report from Wood Mackenzie, who in their research says that the Eagle...
  • Squawk / 02 December 2014 at 15:51 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Current price expectations of Brent crude for 2015. Compiled by Bloomberg Brief.
    Read the Squawk
    5y
    yuiyui yuiyui
    i remember reading not so long ago that Saudi oil cost $15/ barrel to extract and Canadian sands oil below $35. Now just recently we heard from...
  • Article / 21 November 2014 at 14:53 GMT

    WCU: Opec – to cut or not to cut, that is the question

    Head of Commodity Strategy / Saxo Bank
    Denmark
    The November 27 Opec meeting has been called one of the most important for the cartel in many years. Following months of selling, the price of oil has reached a four-year low and this has increased the call for action. Rising production from non-OPEC producers are making the outcome a tough call to make. Will they go for a quick fix and cut or do nothing and let the market find the right price.
    Read the article
    5y
    bvlaerhoven bvlaerhoven
    I think even with a supply cut , things might not change that much. The shale oil fields that are struggling right now and those...
    5y
    ashraf1960 ashraf1960
    the Saudis care for each single dollar, dropping production is unlikely, the price at $60-70 is fare for them, if any thing they will increase production to...
  • Article / 19 November 2014 at 10:41 GMT

    Crude oil options: OPEC supply jitters unsettle market

    Head of Commodity Strategy / Saxo Bank
    Denmark
    Crude oil options: OPEC supply jitters unsettle market
    The OPEC meeting on November 27, along with the November 24 deadline for talks between Iran and the G5+1 group of nations, continues to create much uncertainty in the oil market. Nowhere is this more visible than in the options market where downside protection remains in strong demand.
    Read the article
  • Squawk / 13 November 2014 at 9:16 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Brent Crude (LCOZ4) has reached a new four-year low after breaching 80 USD yesterday. The Dec. contract will expire today so the focus is now switching to LCOF5 which is trading 75 cents higher. Selling pressure ahead of expiry combined with speculation that OPEC will not remove the rising supply glut are the drivers. According to OPEC's own estimates the call on its oil will drop to 28.4 million bpd during Q1 more than 2 mio barrels below current production. Saudi Arabia oil minister Al-Naimi yesterday commented on the current situation. He remain committed to seeking stable oil prices which will benefit both consumers and producers. He also dismissed talk about an "oil war" put in place to punish Russia and the US shale oil industry. His comments failed to sooth the market as the actual actions from SA during the past couple of months has more been about maintaining market share than cutting production. OPEC meets on Nov 27 for what could be its most important in years.
    Read the Squawk
    5y
    anilm anilm
    sir gold levels?Because of Swiss referendums price 1250-1275 range .. whats your expectation plz..
    5y
    Ole Hansen Ole Hansen
    @anilm: A gold update will be published shortly.
    5y
    Ole Hansen Ole Hansen
    The collapse of OW Bunker has created a great deal of nervousness in the Bunker fuel market while the impact on crude oil markets have been limited....
  • Squawk / 11 November 2014 at 14:55 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Commodities on the move: The energy sector has seen a continuation of the selling that struck the market in the US session yesterday. The continued selling which has seen Brent crude fall to a four-year low is being driven by speculation that OPEC will not cut production when they meet later this month. Production from OPEC is currently running well above the cartels 30 mio bpd target and they would need to cut by at least 1 mio or maybe more to stabilize the market.
    The renewed dollar rally has run out of steam again much to the frustration of dollar bulls and gold bears and it helped the latter recover a bit from the renewed selling that hit the metal yesterday.
    Read the Squawk
    5y
    Neil D Neil D
    sugar now up 3.5% on the day Ole
  • Squawk / 06 November 2014 at 13:44 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Crude oil lower on the combination of Draghi talking the dollar up and OPEC cutting the forecast for the amount of crude oil it will need to supply due to rising shale oil production. In the annual World Oil Outlook, just released, they forecast a drop in demand for the cartels oil in 2017 to a 14-year low of just 28.2 million barrels per day, more than two million below current output.
    Read the Squawk
    5y
    yuiyui yuiyui
    and its not just US shale...it seems its an ever expanding industry worldwide
    http://www.eia.gov/analysis/studies/worldshalegas/
  • Squawk / 04 November 2014 at 10:14 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Brent touching 82.08, the lowest since October 2010 while continued selling of WTI crude has seen the price reach the lowest since October 2011.
    Read the Squawk
    5y
    Martin O'Rourke Martin O'Rourke
    Ole drew attention to this in 'Morning Call', in which TradingFloor.com takes views direct from our various trading floors around the globe to keep you informed on...
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