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Daily Oil Market Recap: April 14
Zero Hedge is happy to announce we are starting a daily Oil market summary, generously provided by FMX Connect. We will vary the content as appropriate with an eye toward actionable information for active traders and managers. FMX Connect is a Commodity Information Portal that provides traders with data and analysis of various markets. They also host and publish research for boutique firms like Cameron Hanover, whose principals have 30 years experience in markets.
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Yes. Peter Beutel. good analyst. On TV constantly. (Not sure if that is good or bad)
Peter Knows his stuff one of the best in the business!
Interesting presentations..
http://www.simmonsco-intl.com/files/NMS%20Investment%20Mgmt%20Forum.pdf
http://www.simmonsco-intl.com/files/Marsh.pdf
http://www.simmonsco-intl.com/files/Mardi%20Gras%20Economic%20Lunch.pdf
http://www.simmonsco-intl.com/files/AON%20Annual%20Energy%20Insurance%20...
http://www.simmonsco-intl.com/files/ASPO%202009%20Final.pdf
Twilight in the desert??
MS Ghawar water pumping.....
Thank you for posting these presentations.
Interesting feed... munch munch...
Since when do fundamentals (such as demand) have anything to do with the price of anything tradeable?
What a backassward thought process.
Awesome to hear about this new contribution to ZeroHedge! Basic questions have I.
First, what is the latency and reliability of the strategic oil reserve reporting? Is it on par with the DOL's unemployment numbers, less or more honest?
Second, can we see Bloomie charts w/ reserves vs price vs whatever demand metric seems reasonable?
Third, will Peter place for us the oil futures market on some sort of spectrum, or scale, of true free market vs total central planning manipulation?
Once again, great news, and welcome!
much to our chagrin, he is not a conspiracy guy. although he will from time to time name "large banks" who are artificially proppijng up oil with some BS recommendation so they can get out of their own longs.
Like this,
Bravo. More hardcore market data and analysis. This is where the rubber meets the road even in matters political and social as the Greek drama particularly is demonstrating for us. Bring it on.
BTW...can plebs (like me) post graphics in this comment section...Bloomberg screenshots, charts and the like? If there's a how-to section somewhere I missed it.
Thanks.
I can't believe these people aren't reporting on the contango levels reached yesterday. The reason prices are going up today is because a huge amount of oil is now headed onto tankers.
We had a dress rehearsal for this play in late 2007 through July 2008. It will take months to bring on any significant increase in supply greater than what can be loaded onto tankers, so the price can and will be driven up at will. Nothing will stop it but another mass deleveraging event.
It's all part of 'bullish'.
Denninger calls it a blow- off top. More liquidity in the market(s) and another strafing run on the dollar. No real excess, yet.
yet ... but the mass deleveraging event is getting closer.
The tanker play is not to squeeze supply, or prop up price. it is to take advantage of the lack of storage facilities. The lack of storage and the excessive spot to second month futures rolls exacerbate the contango. Only place left to store oil is in idle tankers that would otherwise earn no money. these guys are taking delivery, storing it on the tanker, adn then hedging out the curve, effectively doign a cash andcarry trade. they earn the difference on conversion which is much higher than the risk free rate of return opportunity cost. IF oil spikes, they can unwind the trade, or let it go.
ifthey happen to not have enough cash on hand adn oil spikes it is THEY who get screwed adn must lift their hedge even if they dont have a buyer for physical yet.