Oil Market Snapshot – October 2019
Brent has fallen back to August levels in October, trading between $58/bbl and $62/bbl. After Saudi Arabia achieved a swifter return to production than many expected, co...
Oil Market Snapshot – September 2019
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 ...
Oil Market Snapshot – July 2019
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...
Oil Market Snapshot – June 2019
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...
Oil Market Snapshot – May 2019
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...
Oil Market Snapshot – April 2019
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...
Oil Market Snapshot – March 2019
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...
Oil Market Snapshot – February 2019
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...
Oil Market Snapshot – January 2019
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...
Oil Market Snapshot – December 2018
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...