
Highway To The Danger Zone
We do, finally, seem to be, genuinely, I think, getting out of this yawn-inducing range on Brent futures.
Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
We do, finally, seem to be, genuinely, I think, getting out of this yawn-inducing range on Brent futures.
The gasoline complex has seen bears entering the market although prices still seem to be supported to some extent. Here is a summary of what happened:
The May Brent futures has slightly softened this morning with the contract opening below the $83/bbl mark and hovering around the same levels for the rest of the morning. At 10:00 GMT (time of writing), the contract was seen trading
The May Brent futures contract has experienced a mixed afternoon, rallying up from $83.01/bbl at 12:30 GMT, before seeing rejection at resistance levels around $84/bbl come 14:30 GMT and subsequently correcting downwards to trade at $82.75/bbl at the time of
Last week, the futures market was supported overall with an overall strong crude market as well as some gains in American gasoline. Here is a summary of what happened:
For the week to Feb 27, crude futures overall displayed a more bullish outlook for a third consecutive week.
The strength seen last week has continued, with May Brent futures starting the week in the $84/bbl handles, marking a 2.3% increase week-on-week.
The strength that was seen last week has continued, with May Brent futures starting the week in the $84/bbl handles, representing a 2.3% increase week-on-week. At 10:30 (time of writing), the May contract softened to $83.81/bbl.
The May Brent futures contract has been constantly shooting up over the day, crossing the $84.00/bbl mark at 16:20 GMT and trading at highs of $84.31/bbl at 16:55 GMT. The contract then softened down to $83.81/bbl at 17:30 GMT (time
These last two weeks in LNG: we saw a weak start to the fortnight in the LNG complex, continuing the bearish trend observed since the start of the winter. Apr TTF reached down to a 2.5-year low of around €23.60/MWh
The now-prompt May Brent futures contract briefly plummeted to $81.85/bbl but saw a significant surge upwards to levels surpassing $83/bbl at 10:15 GMT.
The May Brent futures contract has strengthened ahead of the Apr contract’s expiry, climbing from below $82/bbl at noon today to $82.40/bbl as of 17:15 GMT.
The market has been uninspired over the last week across the oil complex, a bit like the dull Tarantino movie “Once Upon a Time in Hollywood,” amid a now-ended IP week, which dried up markets and overflowed the Mayfair pubs.
After seeing a small slump from the day previous, the May Brent futures traded below the $82/bbl mark, softening to lows of $81.54/bbl at 8:50am GMT and trading at $81.85/bbl at 9:50 GMT (time of writing). May WTI futures were
Having edged above the $83/bbl handles in the day, the May Brent futures contract seems poised to end the afternoon lower, trading at $82.10/bbl at 16.45 GMT. EIA stats released in the afternoon saw US crude inventories rise by over
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