Robert's Feed
Oct 23, 2012

Will an enlarged Rosneft shake up Russia’s oil trade?: Campbell

NEW YORK, Oct 23 (Reuters) – Rosneft will eclipse
the Western supermajors in crude output once the Russian
state-controlled oil producer takes over rival TNK-BP, but
despite its size, the company will still be relative minnow in
energy trading.

That is because Rosneft, like most of its Russian peers, has
outsourced the marketing of its crude and refined products to
foreign companies.

Oct 18, 2012

Exxon’s Celtic buy signals shift for Canada oil-Campbell

NEW YORK, Oct 18 (Reuters) – For years the energy story out
of Canada has been exclusively about the emergence of Alberta’s
oil sands as a massive, if costly new source of crude.

Indeed, the rise of the oil sands was always seen as a happy
solution to the country’s dwindling conventional oil production
and the crumbling economics of Alberta’s natural gas industry.

Sep 28, 2012

RBOB short squeeze a taste of things to come: Campbell

NEW YORK, Sept 28 (Reuters) – Get ready for a lot more
volatility in gasoline and diesel prices. Low inventories and
lots of open interest in the futures contracts portend further
short squeezes, particularly if autumn refinery maintenance
tightens supplies further.

This week’s massacre of shorts on the RBOB gasoline futures
contract is only a warning. A repeat of the situation in
gasoline next month cannot be ruled out. And the scene is being
set for brutal squeezes on distillate fuel.

Sep 17, 2012

U.S. coastal refiners’ Bakken lifeline eroding: Campbell

NEW YORK, Sept 17 (Reuters) – The proliferation of railway
facilities to move Bakken crude oil to coastal markets was
supposed to save less competitive plants on the East Coast, but
new rail links are also eroding the price benefit from
transporting the crude from North Dakota.

Two saviors of U.S. East Coast refineries this summer
promised to expand their access to cheap inland North American
crude to make the money-losing plants profitable again.

Jul 27, 2012

Oil market playing chicken with Saudi Arabia: Campbell

NEW YORK, July 27 (Reuters) – Crude oil has shown great
resilience in the face of unsupportive data over the last month,
bolstered by traders’ optimism that central banks will prime the
economic pump yet again by printing more money.

Even traders who acknowledge that sentiment may have lifted
crude temporarily out of alignment with fundamentals say they
have to keep buying. Momentum can be friendly, after all.

Jul 18, 2012

Risk mounts of autumn Brent-WTI spread blowout: Campbell

NEW YORK, July 18 (Reuters) – Stubbornly high inventories at
the Cushing, Oklahoma, delivery point for West Texas
Intermediate crude oil contract, are a ticking time bomb that
could blow out the spread between WTI and Brent futures.

Take the spread between the October WTI and Brent contracts.
Although it has jumped more than $3 a barrel since early July to
hit $14 a barrel, it is still below the $15.71 per barrel level
hit in April.

Jul 13, 2012

Corn, oil divergence is bad news for US ethanol

NEW YORK, July 12 (Reuters) – Soaring corn futures and
stagnating oil prices spell disaster for the U.S. ethanol sector
this summer. A repeat of the industry’s financial troubles from
a few years ago cannot be ruled out.

US corn futures have soared as evidence has mounted that
drought conditions will devastate this year’s crop. Front-month
corn futures have jumped 15 percent since the end of June.

Jul 13, 2012

Oil market balance emboldens Iran’s opponents: Campbell

NEW YORK, July 13 (Reuters) – Western diplomats can hardly
believe their luck. Sanctions against Iran’s oil exports are
proving more effective than hoped yet the impact on the price of
crude has so far been minimal.

It was not supposed to be this way. A decade of Iranian
intransigence over its disputed nuclear program had finally
eroded Western patience. Sanctions were supposed to be a
painful, but necessary step.

Jul 12, 2012

Corn, oil divergence spells disaster for US ethanol: Campbell

NEW YORK, July 12 (Reuters) – Soaring corn futures and
stagnating oil prices spell disaster for the U.S. ethanol sector
this summer. A repeat of the industry’s financial troubles from
a few years ago cannot be ruled out.

US corn futures have soared as evidence has mounted that
drought conditions will devastate this year’s crop. Front-month
corn futures have jumped 15 percent since the end of June.

Jul 5, 2012

How Brent’s narrow basis fueled the oil rally: Campbell

NEW YORK, July 5 (Reuters) – An explanation of why Brent
crude oil futures have jumped more than 10 percent since late
June that does not take into account the very narrow physical
basis of the contract is missing a big piece of the puzzle.

This is not to say that geopolitical tensions or investor
positioning played no role in the run-up.