Crude Oil

Are Strong U.S. Crude Inventory Draws Sustainable?

The decline in U.S. comparative inventories since February is the most significant oil market development since prices collapsed three years ago. It means that U.S. demand has exceeded supply for most of the last 5 months. The main cause is lower net imports, not higher domestic consumption, and that is probably not sustainable.

World Stocks Hit Another All-Time High As Crude, Treasurys Drop

World stocks hit a new record high on Monday, as U.S. index futures followed Asian stocks on better-than-expected company earnings and strong US jobs data deflected attention from the rising geopolitical tension over North Korea's nuclear program. European stocks traded near session lows while Crude oil prices fall. The Bloomberg Dollar Spot Index was little changed.

Rig Count Drops For 3rd Time In 6 Weeks As US Shale Heavyweights Boost Production

The pace of US oil rig count growth has slowed dramatically in the last six weeks as the lagged response to oil prices indicated. While US oil production continues to trend higher, in lagged response to the rise in rigs, it is also nearing its apex. However, four U.S. shale companies recently reported second-quarter production that beat targets and increased their respective full-year output growth guidance.

Dow Set To Open Above 22,000 As Global Stocks Levitate Higher

Welcome to August: you may be surprised to learn that S&P 500 futures are once again levitating, higher by 0.3%, and tracking European and Asian markets, with DJIA futures higher by over 100 points this morning, the Dow Jones is set to open above 22,000, a new all time high as Asian stocks hit a new decade high.

Rig Count Rises By Just 2 As Goldman Expects Oil Market To Rebalance By Early 2018

With WTI heading for its best week since 2016, demand and inventory data is trumping production for now and today's Baker Hughes rig count data did nothing to change that as, following last week's 1 rig drop, producers only added 2 oil rigs in the last week. Judging by the lagged correlation to WTI, rig counts are stalling as expected...

What Trump's Venezuela Sanctions Will Do To Oil Prices: Barclays Explains

"A sharper and longer disruption could raise oil prices at least $5-7/b and flatten the curve structure despite an assumed return of some OPEC supply, a more robust US shale response, and weaker demand. It may be just the opportunity OPEC needs to exit its current strategy." - Barclays

Global Stocks Jump, Crude Booms As Yellen Looms

S&P futures were fractionally higher (+0.1% to 2,476) with all eyes on the Fed's rate decision as investors await another earnings deluge from companies including Facebook, Coca-Cola and Boeing. Asian and European shares were also higher, the Dollar rebound continued while oil rose above $48 as copper hit a two year high.