Commodity Pricing

Source: Reuters

Oil hits highest since March on vaccine and Biden transition

Reuters


LONDON – Oil hit its highest since in March on Tuesday, rising above $47 a barrel as a third promising coronavirus vaccine raised demand recovery hopes and U.S. President-elect Joe Biden received the go-ahead to begin his transition.

AstraZeneca …

Source: Reuters

Barclays keeps 2021 oil price outlook, supported by vaccine boost

Reuters


Barclays kept its “above consensus” 2021 oil price forecasts on Monday, predicting Brent at $53 a barrel based on output discipline by OPEC and its allies, and based on a potential COVID-19 vaccine boosting demand in the second half.…

Energy News Beat: #165 – 11/23/2020 – Hosted by Michael Tanner

Energy News Beat: #165 – 11/23/2020 – Hosted by Michael Tanner

Stocks up higher after yet another positive vaccine announcement, this time from AstraZeneca and Oxford.  The Dow Jones traded 218 points higher, or 0.5%. The S&P 500 gained 0.3%

  • S&P 500: 0.50%
  • Nasdaq: -0.06%
  • Dow Jones: -0.05%

On Monday, Goldman

Source: Reuters

Oil sees wave of fund buying on early COVID immunisation hope: Kemp

Reuters


LONDON – Hedge funds started to become more bullish on the outlook for oil last week amid rising hopes a successful coronavirus vaccination programme will enable the early resumption of business activity and air travel.

Hedge funds and other …

Source: Reuters

Oil prices rise on COVID-19 vaccine news

Reuters


LONDON – Oil prices rose on Monday, extending last week’s gains as traders anticipated coronavirus vaccine trials would spur a recovery in demand.

Sentiment was also bolstered by expectations that the Organization of the Petroleum Exporting Countries (OPEC), Russia

Energy News Beat: #164 – 11/20/2020 – Hosted by Michael Tanner

Energy News Beat: #164 – 11/20/2020 – Hosted by Michael Tanner

Flat day for the markets as both bears and bull hold market in check with major indices holding flat for the day. On Thursday, over 180,000 confirmed cases of COVID-19 were recorded, bring the new 7-day average up over 160,000,

Source: Reuters

Halliburton to set science-based emission reduction goals

Reuters


Oilfield services provider Halliburton Co said on Thursday it would set greenhouse gas emission reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord.

The announcement comes as …

Energy News Beat: #163 – 11/19/2020 – Hosted by Michael Tanner

Energy News Beat: #163 – 11/19/2020 – Hosted by Michael Tanner

Energy News Beat: #162 – 11/18/2020 – Hosted by Michael Tanner

Energy News Beat: #162 – 11/18/2020 – Hosted by Michael Tanner

Pullback day for the market fresh off all time highs, traders used today to collect some profits, with major indices slumping.  $ES roll flat while $NQ trades slightly in the green after Amazon launch pharmacy business

  • S&P 500: -0.33%
  • Nasdaq:
Energy News Beat: #161 – 11/17/2020 – Hosted by Michael Tanner

Energy News Beat: #161 – 11/17/2020 – Hosted by Michael Tanner

Pullback day for the market fresh off all time highs, traders used today to collect some profits, with major indices slumping.  $ES roll flat while $NQ trades slightly in the green after Amazon launch pharmacy business

  • S&P 500: -0.33%
  • Nasdaq:
Source: Reuters

Exclusive: OPEC+ sees oil cut extension curbing 2021 rise in oil stocks, document shows

Reuters


DUBAI/LONDON/MOSCOW – OPEC and its allies see oil inventories declining further in 2021 should producers extend supply curbs for three months or more, a confidential document seen by Reuters shows, supporting the case for a tighter policy on crude …

Source: Reuters

Saudi calls on OPEC+ to be flexible as it weighs oil cut extension

Reuters


DUBAI/MOSCOW/LONDON – Saudi Arabia called on fellow OPEC+ members on Tuesday to be flexible in responding to oil market needs as it builds the case for a tighter oil production policy in 2021 to tackle weaker demand amid a …

Oil Rig with the JCA Crown Lights

EIA expects U.S. crude oil production to remain relatively flat through 2021

EIA

Oil & Gas 360 Publisher’s Note: The world dynamics within the energy markets will have a major impact on pricing, and therefore we are seeing a major decline in production requirements. 

In the U.S. Energy Information Administration’s (EIA) November …

Source: Reuters

OPEC+ weighs oil cuts extension, sees weaker compliance

Reuters


DUBAI/LONDON – OPEC and allies including Russia are leaning towards postponement of a planned January increase to oil output by at least three months to support prices as the COVID-19 pandemic continues its second wave, sources told Reuters on …

Energy News Beat: #160 – 11/16/2020 – Hosted by Michael Tanner

Energy News Beat: #160 – 11/16/2020 – Hosted by Michael Tanner

More positive vaccine news, this time from Moderna, lift markets green and sending energy stocks soaring.  The Dow Jones Industrial Average added 356 points, or 1.2%, and reached an intraday record. The S&P 500 rose 0.8% and the Nasdaq Composite

Source: Reuters

Saudi Aramco plans debt market comeback with multi-tranche bond deal

Reuters


DUBAI – Saudi Aramco said on Monday it had hired banks for a multi-tranche U.S. dollar-denominated bond issuance, as the world’s largest oil company seeks cash amid lower oil prices.

Gulf issuers show no sign of slowing this year’s …

Source: Reuters

Oil jumps 4% on latest COVID-19 vaccine progress

Reuters


LONDON – Oil prices jumped more than 4% on Monday, recouping the previous session’s losses after Moderna Inc MRNA.O said its experimental vaccine was 94.5% effective in preventing COVID-19.

Brent crude futures for January were up $1.79, or 4.2%, …

Energy News Beat: #159 – 11/13/2020 – Hosted by Michael Tanner

Energy News Beat: #159 – 11/13/2020 – Hosted by Michael Tanner

Market sentiment back bullish as traders eye these new vaccines as a way to curb what are now rising COVID-19 in the US. “This week’s positive vaccine news is a game-changer in our view, as it allows the market to

Source: Reuters

Column: U.S. oil inventories offer hope, and a warning, to OPEC+ – Kemp

Reuters


LONDON – U.S. petroleum inventories are gradually normalising as output curbs by OPEC+ and processing restraint by refiners push the oil market back towards balance.

But with stocks of crude and distillates still well above the five-year average, OPEC+ …

Why is Natural Gas Trading Up Over 3% Today?

Why is Natural Gas Trading Up Over 3% Today?

Natural gas (UNG) inventories rose by only eight billion cubic feet at the end of last week. …

November 13, 2020 - 12:40 pm Commodity Pricing, Natural Gas News, Press Releases
Source: Reuters

Oil falls on rising Libya output, coronavirus surge

Reuters


NEW YORK – Oil prices fell about 2% on Friday, pressured by swelling output from Libya and fears that rising coronavirus infections may slow the recovery in the global economy and fuel demand.

Hopes for a vaccine kept crude …

Energy News Beat: #158 – 11/12/2020 – Hosted by Michael Tanner

Energy News Beat: #158 – 11/12/2020 – Hosted by Michael Tanner

Stocks turn red amid rising COVID-19 cases, with Wednesday breaking a new record with over 140,000 confirmed cases. On the data front, initial weekly jobless claims fell last week to 709,000 from 757,000 in the prior week, the Labor Department

Source: Reuters

Oil CEOs believe a demand recovery is coming, but volatility is here to stay

CNBC


Top energy chief executives say oil demand will recover next year, but they expect volatility to remain elevated, as the industry emerges from the reckoning of the coronavirus pandemic.

“We face a lot of uncertainty,” Total CEO Patrick Pouyanne …

Source: Reuters

Oil rises but IEA casts doubt on speedy demand recovery

Reuters


LONDON  – Oil prices rose on Thursday, taking this week’s gains to more than 12% on growing hopes that the world’s major producers will hold off from a planned supply increase, though the advance was kept in check by …

Energy News Beat: #157 – 11/11/2020 – Hosted by Michael Tanner

Energy News Beat: #157 – 11/11/2020 – Hosted by Michael Tanner

Tech stocks lead the way today as investor buy back shares of larger tech companies dragged down by the recent news of a coming vaccine.  Apple gained 3%. Netflix climbed 1.1%. Facebook and Amazon rose 1.1% and 3%, respectively. Alphabet

Source:Rreuters

OPEC expects coronavirus to curb oil demand recovery into 2021

Reuters


LONDON – Global oil demand will rebound more slowly in 2021 than previously thought because of rising coronavirus cases, OPEC said on Wednesday, hampering efforts by the group and its allies to support the market.

Demand will rise by

Energy News Beat: #156 – 11/10/2020 – Hosted by Michael Tanner

Energy News Beat: #156 – 11/10/2020 – Hosted by Michael Tanner

Rotations happening among the major indices as Dow Jones (composite of the top 30 capitalized companies) gains over 1% while other indices drop, with large losses in NQ, down over .5%

  • S&P 500: -0.07%
  • Nasdaq: -1.7%
  • Dow Jones: 4.5%

Amazon

Source: Reuters

Goldman cuts 2021 Brent forecast as virus surge creates temporary headwind

Reuters


Goldman Sachs cut its 2021 Brent crude price forecast but said a surge in COVID-19 cases in Europe and the U.S. only represented a “speed bump” before a potential vaccine and continued supply cuts by top producers tightened market …

Oil gains as vaccine hopes outweigh lockdown impact

Oil gains as vaccine hopes outweigh lockdown impact

Reuters


LONDON/NEW YORK/SINGAPORE  – Renewed restrictions in Europe and the United States to combat the coronavirus have slowed the pace of fuel demand recovery, offsetting a rebound in Asian economies where consumption has almost returned to pre-COVID levels.

As the …

Energy News Beat: #155 – 11/9/2020 – Hosted by Michael Tanner

Energy News Beat: #155 – 11/9/2020 – Hosted by Michael Tanner

Stock up HUGE amid Pfizer and BioNTech announcing a vaccine for COVID19 that is 90% effective. Major indices hit all time highs, notably the S&P 500 and Dow Jones, NQ finishes flat (Zoom down BIG) as the pullback from the