US CFTC fines energy traders
The U.S. Commodity Futures Trading Commission ordered TOTSA TotalEnergies Trading SA on August 27 to pay a fine of $48 million for alleged gasoline price manipulation. Ian McGinley, CFTC Director of Enforcement, said that the CFTC had "guarded the integrity of the market in numerous cases during the past 20 years" by detecting these benchmark-related scheme and prosecuting them. The U.S.
Finance: Investors Become Super-Bullish on Oil
Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus vaccines were announced in late 2020.China’s exit from a zero-COVID strategy, along with hopes the global economy can avoid a recession and low oil inventories, have contributed to an extraordinary wave of buying across the petroleum…
As Omicron Concerns Ease, Oil Prices Rise
Oil prices extended gains on Tuesday with prices trading near the previous day's one-month high on hopes that the Omicron coronavirus variant will have a limited impact on fuel demand.Brent crude rose 7 cents, or 0.1%, to $78.67 a barrel, by 0728 GMT. U.S. West Texas Intermediate (WTI) crude rose 17 cents, or 0.2%, to $75.74 a barrel, gaining for a fifth straight session."Worries regarding Omicron are easing across the globe…
MARKETS: Hedge Funds Sell Oil
Hedge funds have reduced their position in petroleum futures and options for the first time in 16 weeks, the first weekly net sales since the first successful coronavirus vaccine trials were announced in early November.Hedge funds and other money managers sold the equivalent of 9 million barrels in the six most important petroleum futures and options contracts in the week to Feb.
Oil Market Stalls as Absence of Signals Compounds Summer Slowdown
Hedge funds' oil trading largely dried up last week as the normal summer holiday slowdown was compounded by an absence of price or fundamental signals about the future direction of the market.Hedge funds and other money managers purchased the equivalent of 13 million barrels in the six major petroleum futures and options contracts in the week to Aug.
Oil Futures Markets Need More Transparency
Recent turbulence in the price of light sweet crude oil futures has highlighted how little is known about the positions of traders and their impact on the formation of prices.Exchanges and regulators see the positions of all members and traders on a daily basis but the information is confidential and not available to researchers even many years afterwards.The…
As Oil Crisis Deepens, Hedge Funds Sense a Turnaround
Hedge fund managers sensed oil prices were nearing a turning point last week, and for the first time in more than two months started to add long positions in anticipation prices would bounce from an unsustainable low.Overall, hedge funds and other money managers were still net sellers of 19 million barrels of petroleum in the six most important futures…
Hedge Funds More Bullish on Oil: Kemp
Hedge funds have started to become more optimistic about the outlook for oil prices amid hopes that the United States and China will reach a trade truce and the global economy will avert recession in 2019/20.From a fundamental perspective, hedge funds are rebuilding long positions in crude and fuels because the news flow about the economy is no longer deteriorating…
Hedge Funds Turn Bearish on Oil: Kemp
By early last week, hedge funds had become the most bearish towards petroleum prices since the start of the year, as traders grew increasingly pessimistic about the global economy.Hedge funds and other money managers sold the equivalent of 95 million barrels in the six most important futures and options contracts tied to petroleum prices in the week to Oct.
Oil Falls as Concern Deepens Over Global Economic Outlook
Oil prices dropped on Monday as concern over the global economy put crude on track for its biggest monthly fall since mid-2016.Brent crude oil futures had fallen 58 cents to $77.04 a barrel by 1423 GMT. U.S. crude futures were down 63 cents at $66.96 a barrel.Even with U.S. sanctions on Iranian exports due to come into force in under a week, oil has lost nearly 7 percent in value this month…
Oil Falls on Gloomier Economic Forecast
Fund managers cut bullish crude holdings to 15-month low.Oil prices fell on Monday, as concern over the global economy put crude on track for its biggest monthly fall since mid-2016.Brent crude oil futures were down 34 cents at $77.28 a barrel at 1005 GMT, while U.S. crude futures fell by 30 cents to $67.29.Even with U.S. sanctions on Iranian exports due to come into force in under a week…
Low U.S. Gas Market Stocks Tempered by Mild El Niño Forecast: Kemp
U.S. natural gas stocks are going into winter at the lowest level for fifteen years despite a slightly faster rate of injections into storage over the summer than in 2016 or 2017.Low inventories have encouraged hedge funds to build their largest position in futures and options for more than eight years and pushed benchmark prices to their highest level…
Oil Rises to $76 as OPEC+ Committee Sees Production Increasing
Brent oil prices rose to near $76 a barrel on Monday as a committee monitoring a deal on oil output curbs between OPEC and non-OPEC producers saw production rising while a U.S.-China trade dispute capped gains.International Brent crude oil futures were at $76.04 per barrel at 1326 GMT, up 22 cents from their last close.U.S. West Texas Intermediate (WTI)…
Oil Slips as Focus Shifts to Demand in Coming Months
Oil prices edged lower on Monday as troubled emerging markets and trade tensions dented the outlook for fuel demand, though U.S. sanctions against Iran could mean tighter supply ahead. Brent crude futures fell 14 cents to $72.67 a barrel by 11:18 a.m. EDT (1518 GMT). U.S. West Texas Intermediate (WTI) crude fell 29 cents to $67.34 a barrel.Futures have struggled to find a footing since Wednesday…
Brent Tilts into the Red, but U.S.-China Trade Truce Limits Losses
Brent crude oil declined on Monday, surrendering early gains, though the prospect of an easing in trade tensions between the United States and China helped to stem losses.Brent crude futures eased by 12 cents to $78.39 a barrel by 1352 GMT, having reached a session high of $79.19. U.S. crude futures were up 30 cents at $71.55."Oil prices are finely balanced in today’s trading session. Ramping up of oil production in the U.S.
Speculators Boost U.S. Natgas Net Longs
U.S. natural gas speculators boosted their net long positions for the first time in five weeks, betting prices will rise as exports increase and inventories remain well below normal for this time of year. Speculators in four major New York Mercantile Exchange (NYMEX) and Intercontinental Exchange (ICE) markets added to their bullish bets by 24,673 contracts to 211,680 in the week to March 6, the U.S.
Oil Retreats but Prices Still Supported
Brent, WTI are up more than 13 pct since early December; rising U.S. oil production nevertheless remains a threat to tightening markets. Oil prices weakened following early gains on Wednesday, but remained underpinned by tightening supply and strong global demand. Tighter fundamentals have lifted both crude futures benchmarks about 13 percent above levels in early December…
Surge in U.S. Shale Hedging to Boost 2018 Drilling
When oil prices rocketed towards $60 a barrel this fall, U.S. shale producers hedged more barrels of oil during the quarter than in at least three years, which could help propel the country to record crude production by next year. quarter. sales. million bpd in 2018, which would be an all-time record for U.S. drilling. pressure prices in the near term. a leading indicator of future supplies.
Statoil to Pay a $4 Mln Fine Over Swaps Manipulation
Statoil ASA will pay $4 million to settle U.S. charges that the energy company tried to manipulate a key propane benchmark in order to benefit its NYMEX-cleared swaps position, the Commodity Futures Trading Commission (CFTC) said on Tuesday. In a statement, the U.S. regulatory agency said Norway-based Statoil in late 2011 had attempted to manipulate the Argus Far East Index, a key index of propane prices.
Brent Holds Above $60 on Expected Output Cut
Saudi Arabia, Russia favour extending oil output cuts. Brent oil held above $60 a barrel on Monday, near its highest since mid-2015, on expectations OPEC-led production cuts would be extended beyond March although rising Iraqi exports put a lid on prices. Benchmark Brent crude futures were 7 cents higher at $60.51 per barrel at 1050 GMT, close to their highest since July 2015. They are 36 percent above the 2017 lows marked in June. U.S.
