Oil hedging activity reaches record levels in October as traders take on market risks
Oil futures and option trading reached record levels during October as investors sought to hedge against the growing uncertainty caused by the ongoing war in the Middle East, and an upcoming bearish supply and demand forecast for 2025. This led to big swings in oil prices. By locking in an oil price, hedging can protect producers from market volatility and reduce their risk. This can give traders the opportunity to make money during volatile times.
Prices for gas in Europe are lower due to steady Russian and Norwegian supplies
The wholesale gas prices in the Netherlands and Britain fell on Thursday morning, as supplies from Russia via Ukraine remained constant. Intercontinental Exchange (ICE) traded the benchmark front-month contract Dutch TTF Hub at 35.40 Euros per megawatt (MWh), down 0.74 euros, by 8:34 GMT. The day-ahead contract on the British market was down 2.28 pence at 85.75 cents per therm. Analysts at ING reported that prices rose on Wednesday due to a mix of supply concerns. These included any impact hurricane Francine may have on U.S.
Oil Is Our Gold and We Aim to Use All of It -ADNOC
Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said.The world's transition away from fossil fuel in an effort to slash greenhouse gas emissions is expected to accelerate in coming decades, leaving many oil companies and producing nations pondering their long-term future.But for state-run ADNOC, the main oil-producing company in the United Arab Emirates…
Oil Falls as U.S. Adds New Rigs, China Weakness
Oil fell nearly 2 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, but the price is still on course for its strongest January gain for 14 years.Further weighing on oil markets, the trade dispute between the United States and China looks unlikely to end anytime soon and its impact on the Chinese economy is increasing.Brent crude oil futures were down $1.05 at $60.59 a barrel by 1300 GMT, while U.S. futures were down $1.02 at $52.67 a barrel.U.S.
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, the largest percentage decline since July 2016.Industrial…
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, oil has lost nearly 7 percent in value this month, the largest…
Rising U.S. Shale Exports Turn WTI into 24-hour Benchmark -CME
Rising U.S. crude oil exports to Europe and Asia have had a knock-on effect in the futures market, turning the U.S. West Texas Intermediate contract into a near-24 hour benchmark, exchange operator CME Group said. Owain Johnson, managing director for energy research and development at CME, said the shift has also led CME to introduce the first change to the quality of WTI crude since 1983, coming into force from January next year."Ten to 20 percent of our daily volumes are trading in European and Asian hours...
Oil Holds Just Below $80, Supported by Supply Concerns
Brent oil prices eased modestly on Wednesday but stayed near their highest level this year, supported by concerns that producers may fail to cover a supply shortfall once U.S. sanctions on Iran come into force in November.Brent, the global oil benchmark, slipped 18 cents to $78.85 a barrel by 1336 GMT, after Tuesday's 1.3 percent rise on a media report that Saudi Arabia, the world's largest oil exporter, was comfortable with prices above $80.ANZ bank…
ExxonMobil Hires Crude Trader in Singapore
Crude oil trader Michael Huang is expected to join Exxon Mobil Corp in Singapore soon as the U.S. major expands its trading team to sell its oil into China, the world's top importer of the commodity, three industry sources said. Huang was recently a Singapore-based crude trader for Chinese independent refiner Wonfull Petrochemical, purchasing feedstock for its Shandong refinery and carrying out hedging activities. He left the company in late June, the sources said on Monday.
Hedge Funds Exit Crude Oil but Stay Bullish on Fuels
For all the bullish commentary about oil prices at the moment, hedge fund managers have continued to take profits after the recent rally and are trimming their net long positions rather than adding to them.Focusing on what people do rather than what they say is one of the most important lessons for any good analyst (actions always speak louder than words).Hedge funds and other money managers cut their net long position in the six most important petroleum…
Oil Hits Two-week Low After China Hits U.S. Goods With Tariffs
U.S. crude inventories also likely saw build for 2nd week. Oil fell to its lowest in two weeks on Wednesday after China said it would impose tariffs on a number of U.S. goods including agricultural products, raising the prospect of a growing trade war that could impact global growth. China, the world's largest importer of raw materials, hit back at the Trump administration's plan to levy tariffs on $50 billion of its goods, retaliating with a list of duties on U.S. imports including soybeans, planes, cars, whiskey and chemicals.
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. Commodity Futures Trading Commission said on Friday. Reporting by Scott DiSavino
Low-sulphur Gasoil Deliveries Slip to 3 Year Low
Deliveries of low-sulphur gasoil for February fell to 495 lots, or 49,500 tonnes, the lowest level since February 2015, InterContinental Exchange data showed on Monday. The contract expired at $556 a tonne, down from $615.50 at January's expiry, when deliveries reached 528 lots. Reporting by Vijaykumar Vedala in Bengaluru
Coal Delays Seasonal Price Decline
It's getting to the time of year when a seasonal decline in thermal coal prices in Asia is to be expected as winter's demand peak passes - but so far the power station fuel is defying gravity. The price of spot cargoes of thermal coal from Australia's Newcastle port, a regional benchmark, ended at $108.75 a tonne on Jan. 19, within touching distance of the $109.50 reached on Jan. 17, which was the highest in a year. The price has rallied 5.8 percent since the end of last year and by 18 percent since the most recent trough of $92.20 a tonne on Nov. 23.
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, helped by production curbs by OPEC and Russia, as well as by healthy demand growth.
ICE Moving Oil Contracts to U.S. as MiFID II Implement
The Intercontinental Exchange (ICE), one of the world's biggest commodity exchanges, is shifting the trading of some oil contracts to the United States, the exchange said in a statement, as customers balk at new European Union rules. The EU's revamped Markets in Financial Instruments Directive, known as MiFID II, aims to curb speculative trading and make markets more resilient. The rules came into force last week. ICE said in a statement that 245 futures and options contracts in North American oil and natural gas liquids would move to ICE Futures U.S.
Speculators Cut U.S. NatGas Net Longs for 4th Week in Five
U.S. natural gas speculators cut their net long positions for the fourth out of the past five weeks on expectations supplies will be adequate this winter with storage near normal levels, output at record highs and forecasts for another warm winter. Speculators in four major New York Mercantile Exchange (NYMEX) and Intercontinental Exchange (ICE) markets reduced bullish bets by 17,232 contracts to 225,644 in the week to Oct. 24, the U.S. Commodity Futures Trading Commission said on Friday. Reporting by Scott DiSavino
Oil Stabilizes After OPEC Comments
U.S. oil production, refineries reopen after storm Nate as investors raise bullish bets on WTI - CFTC. Oil prices stabilised on Monday after one of the most bearish weeks in months, propped up by OPEC comments signalling the group and other producers may take further action to restore market balance in the long term. Oil production platforms in the Gulf of Mexico started returning to service after Hurricane Nate had forced the shutdown of more than 90 percent of crude output in the area. The prospective restarts kept price gains in check.
Speculators Cut U.S. NatGas Net Longs Again - CFTC
U.S. natural gas speculators cut their net long positions for a second week in a row on less cold winter forecasts and an increase in production to record levels. Speculators in four major New York Mercantile Exchange (NYMEX) and Intercontinental Exchange (ICE) markets reduced their bullish bets by 28,839 contracts to 225,886 in the week to Oct. 3, the U.S. Commodity Futures Trading Commission said on Friday. Reporting by Scott DiSavino
Oil Slips But Hovers Near Recent Highs
Gulf refineries restarting after Hurricane Harvey as U.S. U.S. crude oil prices slipped below $50 per barrel on Monday but stayed close to multi-month highs amid a drop in shale drilling and as refineries continued to restart after Hurricane Harvey. U.S. West Texas Intermediate (WTI) crude futures were down 27 cents at $49.62 at 1115 GMT, but still close to Thursday's near-four month high of $50.50. Brent crude futures were 33 cents lower at $55.29 a barrel, near an almost five-month high of $55.99 touched on Thursday. "Demand forecasts from OPEC and IEA ...
