Jonathan's Feed
Apr 11, 2015

Big funds turn bullish on oil; Hall bets on rally H2 onwards

NEW YORK (Reuters) – Big money investors are calling a bottom in oil prices, U.S. government data showed on Friday, with hedge fund heavyweight Andy Hall predicting “much stronger prices” from the second half onwards.

Money managers and other big speculators in U.S. crude oil futures and options raised net long positions that call for higher prices by some 52 million barrels in the week to April 7, data from the U.S. Commodity Futures Trading Commission showed.

Apr 8, 2015

US oil output is falling! Or maybe not – market’s data quandary

NEW YORK, April 8 (Reuters) – The immediate outlook for U.S.
oil production has rarely been more important for the financial
world, with traders scrutinizing every scrap of data for signs
of a sustained pull-back in output. It has also rarely been
harder to predict.

Until late last year, a handful of energy analytics firms
had honed the art of real-time oil production forecasts to a
near science, running reams of information through complex
models that account for everything from a well’s production
curve to weather patterns. With the price slump, however, these
firms are struggling to keep up with the rapid pace of change.

Apr 2, 2015

Nuclear deal means more Iran oil – just not this year

WASHINGTON/NEW YORK (Reuters) – A framework accord to curb Iran’s nuclear program forged on Thursday could eventually allow Tehran to reclaim lost ground in the global oil market. Yet the deal all but guarantees that cannot happen before next year.

By ensuring that sanctions remain intact until Western powers are satisfied Tehran is adhering to the terms, and giving negotiators until June 30 to hammer out a comprehensive agreement, the deal offers little chance for any significant increase in exports until 2016.

Apr 2, 2015

Analysis: Nuclear deal means more Iran oil – just not this year

WASHINGTON/NEW YORK (Reuters) – A framework accord to curb Iran’s nuclear programme forged on Thursday could eventually allow Tehran to reclaim lost ground in the global oil market. Yet the deal all but guarantees that cannot happen before next year.

By ensuring that sanctions remain intact until Western powers are satisfied Tehran is adhering to the terms, and giving negotiators until June 30 to hammer out a comprehensive agreement, the deal offers little chance for any significant increase in exports until 2016.

Mar 31, 2015

Analysis – U.S. may skirt oil storage crisis as drivers hit the road

NEW YORK (Reuters) – A month ago, it seemed inevitable: a massive global oversupply of crude oil production would overwhelm storage tanks in Oklahoma and fill supertankers off Singapore.

Now, there are growing signs that the U.S. oil market can avoid the doomsday scenario in which it runs out of room to stockpile surplus crude, a development that oil traders worried would send crude prices into another tailspin.

Mar 31, 2015

U.S. may skirt oil storage crisis as drivers hit the road

NEW YORK (Reuters) – A month ago, it seemed inevitable: a massive global oversupply of crude oil production would overwhelm storage tanks in Oklahoma and fill supertankers off Singapore.

Now, there are growing signs that the U.S. oil market can avoid the doomsday scenario in which it runs out of room to stockpile surplus crude, a development that oil traders worried would send crude prices into another tailspin.

Jan 29, 2015

As gasoline prices drop, Americans swing to favor oil exports

NEW YORK, Jan 29 (Reuters) – Americans are more likely than
ever to favor easing a ban on exporting crude oil, so long as it
does not lead to higher gasoline prices that have recently sunk
to near $2 a gallon, according to a new Reuters-IPSOS poll.

In questions posed to more than 2,000 voting-age Americans
earlier this month, around 45 percent generally agreed that oil
drillers should be allowed to export domestic crude abroad,
while just over 30 percent broadly disagreed. In September,
supporters and opponents were both at around 40 percent.

Jan 14, 2015

Morgan Stanley names new commodity chiefs in surprise switch

NEW YORK, Jan 14 (Reuters) – Morgan Stanley appointed
two new executives on Wednesday to run one of Wall Street’s last
big commodity trading operations following the unexpected
departure of the previous co-heads.

Nancy King and Peter Sherk, insiders who have worked in the
bank’s commodities group for more than a decade, have taken on
day-to-day responsibility for the business, effective
immediately, according to a memo sent by Colm Kelleher,
president of institutional securities.

Jan 12, 2015

U.S. oil tanks barely one-third full beckon crude contango play

NEW YORK (Reuters) – The U.S. oil storage trade is back – and may be bigger than ever.

Six years ago, the financial crisis led to a sudden surplus of oil and a collapse in prices, spurring a classic low-risk trade that’s set to make a comeback: buying crude to store in onshore tanks or floating tankers, since oil costs $8 a barrel less now than what futures buyers will pay in a year.

Dec 31, 2014

U.S. opening of oil export tap widens battle for global market

WASHINGTON/NEW YORK (Reuters) – The Obama administration has opened a new front in the global battle for oil market share, effectively clearing the way for the shipment of as much as a million barrels per day of ultra-light U.S. crude to the rest of the world.

The Department of Commerce on Tuesday ended a year-long silence on a contentious, four-decade ban on oil exports, saying it had begun approving a backlog of requests to sell processed light oil abroad. It also issued a long-awaited document outlining exactly what kinds of oil other would-be exporters can ship.