Crude Oil

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.

Why Despite Threats, Turkey Won't Impose Sanctions On Kurdistan After The Referendum

"The Turkish representative promised us (months before the referendum) that harsh political measures will be adopted against Kurdistan but that no economic sanctions would be seriously considered. After all it is up to Turkey to stop sending its oil tankers to recover our oil production at a cheap price if Erdogan considers it a practical move within his own economy."

Global Bond Rout Accelerates Even As Dollar Rally Fizzles

In a continuation of trading patterns observed over the previous two days, on Thursday the global bond rout deepened in the aftermath of the release of President Trump’s tax-cut plan, Janet Yellen's recent hawkish comments and renewed optimism over the health of the U.S. economy.

Kurdish Vote Won't Spark A Sustained Oil Price Rally

"In short, the belligerent rhetoric surrounding the independence vote between Kurdistan and its neighbors could have already peaked. That might mean that the case for higher crude oil prices will need to come from elsewhere; oil bulls cannot base their bets on supply disruptions from Kurdistan."