OMS-1 Oil Market Snapshot – September 2019 Saudi Arabia Puts On a Brave Face After Missile Attacks

The attacks on Saudi installations at Khurais and Abqaiq appear to have had a limited effect on Brent, which is at c. $62/bbl, down from the initial 20% spike to $70/bbl ...

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OMS-1 Oil Market Snapshot – July 2019 Hormuz Tensions Support, Economy Caps Brent in July

Brent was range-bound between $62/bbl and $68/bbl in July. Tensions in the Strait of Hormuz have kept a floor under prices, while concerns over global growth have provide...

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OMS-1 Oil Market Snapshot – June 2019 Brent Cuts To $60/bbl Before US-Iran Tensions Push Oil Back To $65/bbl

Brent fell as low as $60.56/bbl on 12th June after successive US inventory builds and concerns over the global economy, before recovering above $65/bbl as tensions betwee...

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OMS-1 Oil Market Snapshot – May 2019 Risks Finely Balanced As Physical and Paper Traders Battle It Out In Brent

Brent has retreated in May, falling as low as $68.05/bbl on 23rd May as building US inventories weighed, before recovering to c. $70/bbl by the end of the month. Threats...

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OMS-1 Oil Market Snapshot – April 2019 Trump Abandons Waivers, Setting Stage for Vienna Group Increase

Brent has continued to rally in April, hitting $74/bbl on 22nd April as the US announced the end of waivers for its sanctions on Iran, and in the context of better econom...

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OMS-1 Oil Market Snapshot – March 2019 Brent Shrugs Off Weaker Economic Indicators For Now

Brent has traded around $65/bbl throughout March, as a multi-week counter-seasonal draw in US inventories balances against weaker global economic data. Our Brent 2019 fo...

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OMS-1 Oil Market Snapshot – February 2019 Brent Fails to Close Above $67/bbl as Trump Tells OPEC: "Take It Easy"

Brent came close, but could not close above $67/bbl in February, with a sharp sell-off prompted by President Trump tweeting that OPEC should “take it easy” on 25th Fe...

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OMS-1 Oil Market Snapshot – January 2019 Global Economic Worries Still Weigh As Brent Finds $60/bbl Floor

After falling $10/bbl over the Christmas period, Brent has returned to c. $60/bbl in January, in line with our expectation that the Vienna Group’s new deal has put a fl...

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OMS-1 Oil Market Snapshot – December 2018 Al-Falih’s Christmas Present Gets Lukewarm Market Reception

Brent holds around $60/bbl after the Vienna Group agrees a fresh production cut deal, in line with our expectations. The new cut is 1.2 million b/d, with 800,000 b/d from...

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OMS-1 Oil Market Snapshot – November 2018 OPEC+ "Gang of Four" Try to Fix A Hole In The Wallet

Brent tumbles to stand at $60/bbl at time of writing as stock market falls and Trump’s sanction waivers amplify fears of oversupply. Our Brent forecast averages $73.91...

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