Crude

The Geopolitical Consequences Of U.S. Oil Exports

"... the more U.S. oil is exported, the less immediate effect higher production here has on domestic prices...But this is also has spillover effects in other quarters... Including sending Saudi Arabia and Russia into each other’s arms..."

Global Markets Bounce As Germany, China, Spain Lift World Stocks, Turkey Crash Ignored

S&P futures rebounded and edged higher as European stocks gain, led by Spanish shares after mass demonstrations in favor of Spanish unity and speculation Catalonia may back down on unilateral independence demands, while Chinese mainland stocks reopened catching up to gains missed during the holiday week following last weekend's RRR cut.

What Happens To Iran's Oil Exports If Sanctions Are Renewed: Goldman Explains

European buyers, which account for 25% of Iran’s 2.2 mb/d crude exports, could potentially stop their purchases to avoid falling foul of US secondary sanctions. The key to the global oil market is whether these flows will be curtailed rather than simply redirected to Asia. Net, we would expect that if US secondary sanctions are renewed, they would initially put at risk a few hundred thousand barrels of Iranian exports

Dollar Surge Continues Ahead Of Jobs Report; Europe Dips As Catalan Fears Return

World stocks eased back from record highs and fell for the first time in eight days, as jitters about Catalonia’s independence push returned while bets on higher U.S. interest rates sent the dollar to its highest since mid August; S&P 500 futures were modestly in the red ahead of hurricane-distorted nonfarm payrolls data

Maduro Visits Putin, Proposes Global Oil Trade In Rubles, Yuan

Maduro met with Putin today, and proposed an alternative currency basket, one which is based not on the world's reserve currency but rather the yuan and ruble. "Developing a new mechanism of controlling the oil market is necessary," Maduro said at the Russian Energy Forum.

WTI/RBOB Jump After Big Crude Inventory Draw, Exports Hit Record High

WTI/RBOB prices recovered from their drop after API reported a big surprise gasoline build overnight ahead of the DOE data which showed a major crude draw (and smaller than API-reported build in gasoline). Along with no change in production, this sparked buying in both WTI/RBOB as the kneejerk reaction.