Video Of The Day – CNBC: Oil’s Market Muscle
Discussing the rising price of oil and its impact on the markets with David Lutz of Stifel Nicolaus, Mohamed El-Erian of PIMCO and Saud Masud of the SM Advisory Group.
Posts Tagged ‘Crude Oil’
Rig Count Weekly – February 19, 2011
Number of crude oil drilling rigs fell for 7; Number of natural gas drilling rigs fell for 1.
Tanker Weekly – February 19, 2011
Baltic Dirty Tanker Index rose 10.5%; Baltic Clean Tanker Index was up 3.6%.
The demand is somewhat stronger, but my guess is that supply will emerge and rates will remain range bound.
U.S. Petroleum Weekly – February 17, 2011
Markets well supplied, demand weak, refiners cutting refining capacity and crude oil imports. Record high WTI – Brent pricing disparity.
Rig Count Weekly – February 14, 2011
Number of crude oil drilling rigs fell for 13; Number of natural gas drilling rigs fell for 5.
On world scale number of oil & gas drilling rigs fell for 6 in January.
Tanker Weekly – February 14, 2011
Baltic Dirty Tanker Index rose 5.7%; Baltic Clean Tanker Index fell 3.5%.
Some supply/demand tightens into the end of February, but my guess is that supply will emerge and rates will remain range bound.
U.S. Petroleum Weekly – February 10, 2011
Crude oil stocks rising, markets well supplied, demand weak. The price of oil mostly unchanged.
Tanker Weekly – February 5, 2011
Baltic Dirty Tanker Index rose 1.5%; Baltic Clean Tanker Index fell 1.7%.
Again: too many available ships for the cargoes offered. We could see some positive freight rate developments if Egypt unrests affect Suez canal normal operation.
U.S. Petroleum Weekly – February 3, 2011
Crude oil stocks rising, markets well supplied, demand weak. The price of oil, nevertheless, is on the rise.
Tanker Weekly – January 30, 2011
Baltic Dirty Tanker Index fell 0.9%; Baltic Clean Tanker Index rose 1.7%.
My comment remains the same: too many available ships for the cargoes offered. We could see some positive freight rate developments if Egypt unrests affect Suez canal normal operation.
U.S. Petroleum Weekly – January 27, 2011
Crude oil stocks rose 4.8 million barrels; Gasoline stocks increased 2.4 million barrels; Distillate stocks fell 0.1 million barrels; Propane/propylene stocks were down 3.3 million barrels; Other oils stocks decreased 2.1 million barrels; Total crude oil and petroleum stocks were 2.4 million barrels higher for the week.
Refinery utilization fell 1.2% to 81.8%.
Implied crude oil demand rose 0.2 million barrels.
Crude oil and petroleum product net imports rose 0.2 million barrels to 9.7 million barrels.
Crude oil stocks rising, markets well supplied, demand weak.
Recent weeks are marked by record WTI vs. Brent crude price spread which is at record high of 11.2 USD per barrel. My best guess is that this is caused by three major factors: oversupplied U.S. market, smaller negative roll yield in Brent (or even positive roll on some contracts), coming CFTC futures position limits.
What this means for the crude oil price? I would say WTI is better proxy for oil price than Brent.
Rig Count Weekly – January 23, 2011
Number of crude oil drilling rigs rose for 9; Number of natural gas drilling rigs fell for 4.
Tanker Weekly – January 23, 2011
Baltic Dirty Tanker Index fell 7.6%; Baltic Clean Tanker Index rose 0.2%.
My comment remains the same: too many available ships for the cargoes offered. From the crude oil demand side it also feels the bullishness from the end of the last year has abated.
U.S. Petroleum Weekly – January 22, 2011
Crude oil stocks rose 2.6 million barrels; Gasoline stocks increased 4.4 million barrels; Distillate stocks were up 1.1 million barrels; Propane/propylene stocks were down 5.4 million barrels; Other oils stocks decreased 2.4 million barrels; Total crude oil and petroleum stocks were 2.4 million barrels higher for the week.
Refinery utilization fell 3.4% to 83.0%.
Implied crude oil demand fell 0.9 million barrels.
Crude oil and petroleum product net imports rose 0.2 million barrels to 9.5 million barrels.
Crude oil stocks rising, markets well supplied, demand weak.
Tanker Weekly – January 16, 2011
Baltic Dirty Tanker Index fell 7.3%; Baltic Clean Tanker Index rose 2.4%.
Markets well supplied with ships available, clean rates probably rose on clean products being shipped to tight West European markets.