PVM IS THE WORLD’S LEADING BROKER OF OIL INSTRUMENTS

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Iran poker

Every big price swing is followed by a retracement and when that happens the guessing game starts: is it really just a correction or the market has bottomed or peaked out and the prevailing trend is reversing? Yesterday was one of those days but in all honesty the oil complex must do much better to [...]

2022-08-09T07:29:53+00:00August 9th, 2022|

A bear’s world

The ursine community is in control of the oil market. Friday’s modest rebound couldn’t prevent the two leading crude markers from posting their biggest weekly decline since April. WTI and Brent lost more than $9/bbl over the period to trade at levels not seen since February before Russia invaded Ukraine. The US grade ended the [...]

2022-08-08T08:34:46+00:00August 8th, 2022|

Hebdomas Horribilis

Those of a bullish disposition made another beeline for the exits yesterday, so much so that oil prices fell to the lowest since the start of Russia’s war on Ukraine. WTI plunged into the $80s while Brent finished the session below $95/bbl. At the heart of the pullback is the prospect of declining demand amid [...]

2022-08-05T09:15:53+00:00August 5th, 2022|

Political balancing act

One of the relevant features of the current week was the virtual OPEC+ meeting that was expected to lay out the path the producer group would follow after the current supply agreement expires at the end of the month. There was a broad consensus amongst analysts and market players that the alliance will go for [...]

2022-08-04T13:27:48+00:00August 4th, 2022|

OPEC Day

The price action across the oil market remains jittery. The two leading crude benchmarks traded in a range of almost $4/bbl on Tuesday as tensions built ahead of this week’s main risk event. Brent and WTI initially traded around $1/bbl lower before resuming their climb to settle roughly 50 cts/bbl higher on the day. Buying [...]

2022-08-03T11:28:29+00:00August 3rd, 2022|

Global manufacturing activity breaks hard

The only bullish element of yesterday’s trading, OPEC’s struggle to increase production meaningfully, went unnoticed. The producer group, the latest Reuters survey showed, pumped 28.98 mbpd in July, up 310,000 bpd on the month. Those with quotas increased production by 240,000 bpd, 1.28 mbpd below the maximum allowed, reaching a compliance of 418%. Such a [...]

2022-08-02T08:41:48+00:00August 2nd, 2022|

The R-word

Where the US goes, the rest of the world usually follows. Market players will be hoping this old adage does not ring true in the coming months after the US economy fell into technical recession. US GDP shrank by just over 0.2% in April-June, or by 0.9% on an ‘annualised’ basis, government figures showed yesterday. [...]

2022-07-29T11:03:56+00:00July 29th, 2022|
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