Oil 12 (Feb 21 - Sep 23)

[behappyalways]

Why the U.S. Stores About 400 Million Oil Barrels in Caves | WSJ
https://m.youtube.com/watch?v=6mWeBUi44r0

[behappyalways]

Global Oil Inventories Hit Lowest Level Since 2004
https://www.zerohedge.com/markets/globa ... level-2004

[winston]

Oil Poised for Second Weekly Decline on Gloomy Demand Outlook

by Yongchang Chin

Forward curve for both major benchmarks has weakened in a sign that supplies are more ample.

Source: Bloomberg

https://finance.yahoo.com/news/oil-pois ... 24956.html

[behappyalways]

World Oil Demand Topped Pre-COVID Levels In September
https://www.zerohedge.com/markets/world ... -september

[winston]

There’s a US$15 solution to the US-Saudi oil feud

By LIAM DENNING

A month ago, the White House announced a plan to refill the SPR when oil prices fell to US$67 (RM305) to US$72 (RM328) a barrel. By establishing an effective put in the market, the idea is to encourage domestic producers to drill for more oil.

Floor of about US$85 (RM387) for Saudi Arabia.

Riyadh knows Washington would release strategic barrels when the price hits, say, US$100 (RM455) but buy them back when it sinks to, say, US$75 (RM343).

The SPR, while a powerful tool, is ultimately a finite stock of oil that pales in comparison to Saudi Arabia’s 11 million-barrels-a-day flow.

Source: Bloomberg

https://www.thestar.com.my/business/bus ... i-oil-feud

[behappyalways]

Most Crucial Industrial Fuel Faces Global Shortage
https://www.zerohedge.com/commodities/m ... l-shortage

[behappyalways]

The Chartmaster on what's next for oil prices
https://m.youtube.com/watch?v=WMSMgkrczBU

[winston]

Millions of barrels of oil halted near Türkiye in sanctions mess

by Alex Longley, Sherry Su & Christopher Condon

Twenty six tankers holding more than 23 million barrels of oil from Kazakhstan were unable to pass the Bosphorus and Dardanelles straits.

Source: Bloomberg

https://www.theedgemarkets.com/article/ ... tions-mess

[winston]

Oil drops in volatile trade, records biggest weekly slump in months

Growing recession fears negated any supply woes after weak economic data from China, Europe and the United States.

“Any concerns about supply are secondary to worries about the economy”.

Putin said that the world’s biggest energy exporter could cut output in response to a price cap on its crude oil exports.

If US crude falls below US$70 per barrel, it could enter a freefall and hit the low US$60s range over the upcoming sessions.

WTI contracts switched to trade in contango over the next year for the first time since Nov 2020, with contracts for near-term delivery cheaper than one year later. A market in contango suggests less worry about the current supply situation due to weakened demand, and encourages traders to put barrels in storage.

Source: Reuters

https://www.businesstimes.com.sg/compan ... ump-months

[behappyalways]

'22.12.06【豐富│東南西北龍鳳配】Pt.1 跟著美國限制俄羅斯油價？歐洲國家真的被「魔神仔」牽走了！
https://m.youtube.com/watch?v=4NJ6Wndu844