Virtual Conference to Focus on Transatlantic Marine Renewables
Marine industry experts from Portugal and Canada are staging a special Blue Economy conference to spark transatlantic business growth. WavEC Offshore Renewables is teaming up with the Embassy of Canada to Portugal to host ‘Advancing the Blue Economy through Intercontinental Collaboration’. It runs on December 09 and 10.The two-day online event includes a world-class roster of speakers. They will share knowledge on floating offshore wind, alongside latest advances in wave power…
Over-extended Oil Prices Were Primed For a Fall
Pay attention to what traders actually do, not what they say, is one of the most important principles for successful oil market analysis.Despite all the bullish commentary around oil prices in recent weeks, there was plenty of forewarning prices were primed for a setback.By the middle of April, hedge funds had accumulated a near-record net long position in crude and products futures and options equivalent to 1.4 billion barrels.Bullish long positions outnumbered bearish short positions by an unprecedented ratio of almost 14:1…
Hedge Funds Turn Bearish on Oil, Refined Fuels
Hedge funds and other money managers were turning increasingly bearish towards oil even before prices plunged on Thursday. Hedge funds cut their net long position in the three main futures and options contracts linked to Brent and WTI by 97 million barrels in the week to May 2 (http://tmsnrt.rs/2pqzvW4). Bullish long positions were trimmed by 31 million barrels while bearish short positions increased by 65 million barrels according to data published by regulators and exchanges.
Volatility, Flash Events in Oil Markets: Kemp
Crude oil prices have been more volatile this year than at any time since the financial crisis of 2008/09 and before that 1991, according to standard measures of price variability. Some of the increase in volatility is more apparent than real, however, as every $1 per barrel move translates into a larger shift in percentage terms now that prices have halved from $100 per barrel to less than $50. The chief of the U.S. Commodity Futures Trading Commission (CFTC) warned a conference last week the oil market had already experienced 35 "flash events" since the start of the year.
IMF: Gulf Can cope with Cheap Oil
The Arab energy exporting states of the Gulf can cope comfortably with sliding oil prices, an International Monetary Fund official said on Tuesday, as a plunge in regional stock markets showed some local investors were panicking. Brent crude oil dropped below $60 a barrel on Tuesday for the first time since 2009, from around $115 as recently as June. If those levels persist next year, the six rich nations of the Gulf Cooperation Council will face the most dramatic change in their fortunes since the global economic crisis in 2008.
