Saturday , October 31 2020
Home / Tag Archives: oil

Tag Archives: oil

Markets Continue to Struggle

 Overview:   The spreading virus that is shutting down large parts of Europe, while the US is reluctant to return to lockdowns and refuses to have a nationwide requirement for masks in public hit risk assets yesterday.  The S&P posted its largest decline in four months yesterday (~3.5%), and the selling carried into the Asia Pacific region.  Most bourses fell, led by the 1.6% slide in Australia and Taiwan's 1% fall.  Chinese markets were more resilient and posted modest gains.  Around...

Read More »

Crude Oil Crashes 5% on Bigger-Than-Expected Supply Build, COVID-19 Second Wave

Crude oil futures crashed more than 5% in the middle of the trading week, extending the sector’s bearish trend in October. Oil prices plummeted on rising coronavirus cases in major economies that would impact crude demand. The US government also reported the first supply build in three weeks, which was larger than what the market had forecast. Overall, these are troubling signals for the industry as it braces...

Read More »

It Shouldn’t Be Anything Like This

You pick up a newspaper (metaphorically, hardly anyone does this literally anymore) and you’d be left with the impression the year is 1979 again. Forget 2017; that was child’s play, more like 1968 in the mainstream imagination. October 2020 is going to mark the beginning of the biggest one in decades. Any day now.Inflation, of course. The Fed, the media says, has printed so much money it’s only a matter of time. Once the glut of cash filters its way into the real economy (not just the stock...

Read More »

Peak oil is coming, it’s just a question of when: Fuel for Thought

October marks a historic but largely forgotten moment in the history of the oil sector, and something which is unlikely to ever be repeated if forecasts for the demise of the world’s most valuable fossil fuel prove accurate. Fifty years ago, BP – then known as British Petroleum and state-owned – discovered oil off the coast of Scotland in the once mighty Forties field with the help of a GBP370 million loan. The financing would be equivalent to GBP5.5 billion ($7.16 billion) in today’s money...

Read More »

Video: How Will Election Result Impact Gold, Oil, Stock Market, Forex?

In the present video, David Jones from Capital.com provides his take on the possible impact of the US presidential election on gold, oil, stock, and Forex markets. He discusses various possible outcomes of the election: a landslide victory of the Democratic candidate Joe Biden, a less convincing victory, and surprise reelection of the incumbent President Donald Trump. David then turns to charts...

Read More »

Commodity Tracker: 5 charts to watch this week

How is energy demand faring across different sectors and regions amid the evolving coronavirus pandemic? In this week’s Commodity Tracker, S&P Global Platts editors look at global aviation, Chinese fuels consumption, Brazilian power demand and European refining, as well as US LNG output. 1. Lift in air travel helps jet fuel but demand still far from normal   What’s happening? Global aviation continues to recover and global kerosene/jet fuel demand is tracking the pattern...

Read More »

The Greenback does Not Look Ready to Break Down Quite Yet

The US dollar had a tough week, falling against all the major and most emerging markets currencies.  The weakness came in the face of higher US yields and a wider premium over most other high-income countries. The US 10-year yield almost 10 bp, the most in a couple of months to settle around 0.84%, after reaching the highest level since early June.   It did not seem so much like a risk-on/off story.  Equities slipped lower, and the S&P 500 snapped a three-week advance.  Europe's Dow...

Read More »

Commodities Week in Review: October 19 to October 23

Commodities Week in Review: October 19 to October 23  Agriculture  The leading agricultural commodity assets – corn, wheat, and soybean – enjoyed another strong week as fundamentals and a weaker US dollar contributed to their weekly gains. The latest forecasts suggest that food inflation will continue to creep higher, possibly with supply unable to keep up with the demand, especially now that millions of people have returned...

Read More »

US Crude Crashes 4% Below $40 As Supply Drop Falls Short of Estimates

Crude oil futures crashed as much as 4% in the middle of the trading week after the US government reported a smaller-than-expected drawdown in domestic inventories. The lackluster supply decline in the last week added to the concerns over the rising number of coronavirus cases, as well as tepid global demand-side fears. December West Texas Intermediate (WTI) crude oil futures plunged $1.72,...

Read More »

California’s new clean car goal faces roadblocks, starting with election: Fuel for Thought

In California, greenhouse gas emissions produced by this year’s record-breaking wildfire season have climbed past the industrial, power and residential emissions categories and could even overtake transportation as the top polluter, according to estimates by S&P Global Platts Analytics. The scale and devastation of the California wildfires have also added urgency to the state government’s climate priorities, with the latest measure targeting that top emitter, cars. Governor...

Read More »