Oil Market Snapshot – January 2018
Brent has exceeded $71/bbl intraday on January 25th, the highest level since May 2015. However, record net longs from money managers underpin the possibility of a correc...
Oil Market Snapshot – December 2017
Brent holds above $63/bbl as Forties pipeline shutdown amplifies bullish sentiment. As futures continue to rise, so do our latest price forecasts with our global supply a...
Oil Market Snapshot – November 2017
Brent holds above $60/bbl as speculators amass record net long positions in the run up to OPEC’s 173rd meeting on 30th November. Futures pricing indicates a market in ...
Oil Market Snapshot – October 2017
Brent has steadily recovered to ultimately breach $60/bbl in October after a sharp sell-off at the end of September from highs of $59.09/bbl. Clashes in the Kurdish reg...
Oil Market Snapshot – September 2017
Brent has risen to c. $58/bbl in September as IEA demand forecasts increase, while geopolitical risk threatens 500,000 b/d of Iraqi supply. Our demand forecast remains u...
Oil Market Snapshot – August 2017
Brent remains at c. $52/bbl as falling US inventories and rig counts indicate the market is tightening, though Hurricane Harvey has shut-in US refining capacity. The IEA...
Oil Market Snapshot – July 2017
Falling US inventories and firm words after the OPEC/non-OPEC compliance meeting help lift prices, even as Ecuador announces it will leave the agreement. Brent has ris...
Oil Market Snapshot – June 2017
With fear and loathing of the OPEC deal high in the market, we make the case that the deal has been a qualified success. Brent fell to c. $45/bbl in mid-June despite d...
Oil Market Snapshot – May 2017
Oil falls as OPEC extends the production deal, but if politics is the art of the possible, is the market expecting too much? Brent broadly recovered to c. $54/bbl from...
Oil Market Snapshot – April 2017
OPEC is doing better on compliance - so why is market confidence waning? Brent rallied in early April on confidence in an OPEC deal extension. However, Brent struggle...