brent

SIMON SAYS: Not many people are convinced of Big Export Volumes from the U.S. But I am!

Submitted by Simon Hill on Mon, 12/09/2019 - 17:00

Yesterday we were looking at the OPEC announcement to cut crude oil production by 500 M Bbls/d, and the subsequent announcement that Saudi Arabia would maintain its voluntary and additional 400 M Bbls/d production drop. Just to show how difficult it is to gauge reality from rumour, there were strong noises coming out that earlier, Saudi Arabia and Venezuela had actually proposed a 500 M Bbls/d increase, even though this was of course strenuously denied.

SIMON SAYS: Is flat price trading a thing of the past?

Submitted by Simon Hill on Thu, 06/13/2019 - 16:52

There’s nothing like an incident to spark price movement. Thursday morning’s suspected attack near the entrance to the Persian Gulf have stoked, not only fears of a military confrontation between the U.S. and Iran, but also the oil price, up as high as 4.5% on early trades. This just seems a few hours after all the talk was about oil prices sinking 4% on the back of faltering demand.