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Write a Squawk to JJb
  • Squawk / 24 January 2018 at 14:17 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Crude oil trading quietly near 3-year highs ahead of the weekly petroleum status report from the EIA at 1530 GMT. Expectations for a 10th consecutive drop in crude stocks were put into doubt yesterday when the API reported an increase of 4.8 million barrels. Gasoline stocks have risen for the past 10 weeks and should oil stocks also rise some profit taking may emerge despite the current tailwind from the weaker dollar.
    As usual production as well as import/export numbers will also attract attention. A continued drop in Cushing stocks, the delivery hub for WTI crude oil futures, may lend some relative support to WTI against Brent.
    Comments below once released.
    Read the Squawk
    24 January
    Ole Hansen Ole Hansen
    Results
    24 January
    Ole Hansen Ole Hansen
    Charts
    24 January
    JJb JJb
    Is the dollar affecting the oil price?
  • 18 January
    JJb JJb
    I guess I’m going to see the big short just one more time.
  • Article / 27 November 2017 at 13:43 GMT

    Opec walking a tightrope into Thursday's meeting

    Head of Commodity Strategy / Saxo Bank
    Denmark
    Opec walking a tightrope into Thursday's meeting
    An expected output cut extension combined with geopolitical risks and a recent Canadian pipeline disruption have all helped support crude oil's 20% rally since early October. On Thursday Opec members and Russia are expected to announce a six-nine month extension. A failure to deliver a robust message could send the price sharply lower.
    Read the article
    28 November
    JJb JJb
    Any remote chance of Russia join OPEC?
    28 November
    Ole Hansen Ole Hansen
    No I think they are very happy about being able to decide their own agenda. Production cuts have served them well but at the same time several...
  • 04 October
    Ole Hansen Ole Hansen
    Oil and gasoline both higher following EIA report which showed a 6M barrel drop in crude stocks and a 1.6M barrel increase in gasoline. Distillate stocks declined...
    04 October
    Ole Hansen Ole Hansen
    Surging US crude oil export once again the big outlier in this weeks report. With additional barrels being moved into the global market it should further reduce...
    04 October
    JJb JJb
    I guess I’m out of these dodgy price reactions on Wednesday. Anything is a reason to sell. I guess US also makes money by exporting some of...
  • Video / 20 September 2017 at 9:43 GMT

    From the Floor: Markets look to FOMC for new rate guidance

    #SaxoStrats
    Financial markets keenly await the outcome of Wednesday's meeting of Federal Reserve policymakers, especially for possible new signals on where interest rates are headed next. Saxo Bank's FX strategy chief John J Hardy says he is leaning towards the chance of a slightly hawkish message from the FOMC.
    watch video
    20 September
    JJb JJb
    a bit late today?
  • Article / 26 May 2017 at 14:00 GMT

    Oil traders flutter like moths to the flame

    FX Trade Strategist / www.Loonieviews.net
    Canada
    Oil traders flutter like moths to the flame
    It was always apparent that the Opec production cut rally might falter once the reality of the situation became clear, and that's exactly what happened. Now, the knock-on effects of soft crude prices are working their way through the indices.
    Read the article
    29 May
    Michael O'Neill Michael O'Neill
    Exactly. However, that reference was deleted by the editors, in the original article( It was redundant)
  • Squawk / 08 March 2017 at 14:41 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Both Brent and especially WTI crude oil are in trouble ahead of the EIA report at 15:30 GMT. Hovering just around support the weekly 'Petroleum Status Report' could be one of the most important reports in a while. Both import and export as well as production will also attract some attention.
    I will post comments below once the report is out.
    Read the Squawk
    08 March
    Rofhiwa Thomoli Rofhiwa Thomoli
    Ole. Why it seems like the Brent Oil is going-up. I'm short in that Position. What might be cause of that long Green Bar?
    08 March
    John Roberti John Roberti
    Thanks for the summary of Houston meeting. If I understand correctly what you seems to say, is that the market may not come to balancing so quickly...
    08 March
    JJb JJb
    what a violence. nice one.
  • Squawk / 02 March 2017 at 10:29 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Crude oil is having another go at the downside today following yesterday's mildly bearish inventory report.
    There is a very stale smell hanging over the market and a window needs to be opened soon. Opposing forces have kept the market locked in a very tight range for three months now so it is almost impossible to see on which side of the house the window will be opened. We still see the risk of $50 before $60 on Brent but also have to acknowledge that despite all the talk of a record non-performing long we have so far seen very limited selling appetite.
    Technical support on CLc1 can be found just below at $53.18 which was Tuesday's low. Key near-term support below that is $52.70, the February 16 low (Chart attached).
    Read the Squawk
    02 March
    Ole Hansen Ole Hansen
    WTI has bounced of $52.70 support but now struggling to make it above Tuesday's low at $53.20.
    02 March
    Ole Hansen Ole Hansen
    Staying with energy. The weekly NatGas inventory data is due at 15:30 GMT. Surveys pointing to a 3 bcf fall compared with with a 5-yr average decline...
    02 March
    Ole Hansen Ole Hansen
    NatGas inventories rose 7 bcf against expectations of a 3 bcf reduction. This is the first ever February injection
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