An exciting year ended with concerns about the possible recession and energy demand outlook for the year ahead. Both Oil and Gas were on a roller coaster ride in the first months of 2022, especially after increasing tensions because of the Russian attack on Ukraine. Both Gas and Oil tested multi-year highs in 2022, but […]
While US Oil prices used to rise in the past two weeks based on a positive demand outlook from China after reopenings, looking at recently published data from different economies cannot make us so hopeful. China’s 2022 GDP should have met the 5.5% expectations. The main market driver for energy, and especially the oil market, […]
After today’s Fed Chair Powell’s speech, stock markets had slightly positive reactions; investors need clarification about the Oil market’s future. Earlier today, Fed Chair Jerome Powell, in opening remarks of a conference on central bank independence in Sweden, said: “Restoring price stability when inflation is high can require measures that are not popular in the […]
Central banks -excluding PBoC- were hawkish enough to increase the risk of recession, reducing energy demand. On top of that, we had fragile economic data from the most developed economies, mainly China, reigniting fears that the poor economic outlook and looming stagnation will reduce oil demand. We can see a bullish trend in the H1 […]
Like every Tuesday and Wednesday, we had API and EIA weekly inventory reports. According to Tuesday’s American Petroleum Institute report, the levels of US crude oil inventories fell by -6.426M barrels, almost twice more than -3.884M of expectations, but less than -7.850M barrels of the week earlier. We could see the same reduction in the […]
Everything is about Inflation and Interest Rates! Fears over a deep recession have made policymakers think twice before going towards more tightening policies. Therefore, the outlook of less hawkish policies changed the market sentiment at the end of November. Many analysts and market participants believe that Fed will likely slow its rate hike pace by […]
Beginning of the last meetings of Central banks in 2022. After many ups and downs, last week ended with a mixed sentiment after NFP numbers. On top of that, geopolitical tensions in the energy market increased with the setting of a price cap for Russian Oil. In the week ahead, we have to see the […]
OPEC meeting will start today, December first to set policy and the amount of output and supply. And then on the second day, they will make the final decision in consultation with non-member allies, called OPEC+. This is while the weak economic prospects and geopolitical tensions have cast a shadow on all decisions. Market participants […]
The last NFP of 2022! After a shortened and light week that we had because of the Thanksgiving holidays, the week ahead will be a huge week with too many events and news to watch closely. With US NFP numbers we can guess what we have to expect from the next Fed meeting, Chinese PMI […]
Last Friday WTI tested the price under $80 for the first time since September 28. The downtrend continued at the beginning of this week as well, to test the $75.20 on Monday. However, right after that bulls regained all their losses on Monday to close at the opening price, a little above $80. The bears […]
OPEC published its monthly report for November 2022 on Monday. According to this report, OPEC lowered global oil demand growth for this year and 2023. The Organization of the Petroleum Exporting Countries expects that global oil demand to grow by 2.55 million bpd in 2022, down from 2.65 million bpd in the previous month’s report, […]
Crude prices fell sharply this week as Inventories in the US increased, concerns over global economic recession grew, and rumors about the resurgence of the coronavirus in China have increased. However, Thursday’s US inflation numbers changed the market sentiment. Coronavirus spreading in China was one of the determining factors for the Oil price in recent […]
Oil gains more than almost 5% in the past two days to ignore API and EIA inventory reports. On Tuesday, the American Petroleum Institute reported a 4.520M inventory increase in the past week, while the market was expecting just a 0.200M increase. And later on, Wednesday, the Energy Information Administration’s (EIA) Crude Oil Inventories reported […]
Earlier this week on Wednesday, OPEC+ members met in Viena. In an almost strict decision, the Organization of Petroleum Exporting Countries and its allies (OPEC+), said it would cut supply by 2 million barrels per day (bpd), and a 3.5 million bpd shortfall in its daily production to counter recent weakness in crude prices, while […]
The height of tensions and financial markets During the Chinese holiday week, employment data from the US, central banks’ meetings in New Zealand and Australia, and Purchasing manager index numbers from most developed economies, can increase the volatility level of the week. At the same time with ongoing tensions in the energy sector, especially in […]
Oil prices bounced back on Wednesday from the 2022 low, after unexpected US crude and fuel stockpiles drawdowns. Of course, the US dollar return from above 114.70 under 113 also help the Oil price recover with less-expensive US dollar. According to the EIA weekly report, US crude stocks fell by 215,000 barrels in the week […]
The US market on Tuesday opened lower as investors prepared for the FOMC announcement and economic projections. Federal Reserve Open Market committee’s meeting starts today, and we will have the announcement, economic forecasts, and Fed chair Powell’s press conference tomorrow after two days’ meeting ends. Economic conditions VS geopolitical concerns! At the beginning of Tuesday’s […]
