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So far Jess has created 385 blog entries.

Recovery mode

After three days of losses and a near six-dollar price rout, Brent and WTI finally managed to regain some poise yesterday. The two leading crude markers tacked on around $1/bbl on Thursday as battered oil bulls emerged from the woodwork. Price support came courtesy of simmering Middle Eastern tensions. Israel launched air strikes in south [...]

2021-08-06T09:28:45+00:00August 6th, 2021|

And nothing else matters

At this point it is worth taking stock. This week WTI has lost 7.5% of its value and Brent 6.7%. Heating Oil and RBOB have fallen 5.5% and 3.6% respectively. The front-month WTI spread has weakened 36 cents/bbl and Brent 31 cents/bbl. The Heat spread has remained relatively stable (-5 cents/bbl equivalent since Friday), Gasoil [...]

2021-08-05T07:48:35+00:00August 5th, 2021|

Iran on the naughty step again

These days there is no keeping Iran out of the headlines. Yesterday, Iranian-backed forces were suspected of being behind the seizure of a tanker off the coast of the UAE. Tehran strongly denied any involvement, even though the vessel has since been ordered to sail to Iran. The latest incident followed an attack last week [...]

2021-08-04T08:47:54+00:00August 4th, 2021|

Monday blues again

As if Joe Biden had welcomed the Iranian president-elect, Ebrahim Raisi, in the White House two days before his swearing in and as an inauguration present lifted all the sanctions the US had imposed on his country and promised him unfettered access to the international oil markets. That was the feeling after the sharp drop [...]

2021-08-03T09:43:58+00:00August 3rd, 2021|

$76 and counting

It was a case of another day, another dollar for the oil market on Thursday as the two leading crude markers approached multi-year highs. Brent topped $76/bbl for the first time in two weeks while WTI edged towards the $74/bbl mark. The latest advance came as oil bulls basked in the supportive afterglow of Wednesday’s [...]

2021-07-30T07:43:03+00:00July 30th, 2021|

Growth worries are put on hold

Uneven economic growth due to the spread of the Delta variant of the Covid virus and the inequality in vaccine rollouts is a very clear and present danger that is likely hinder unabated march higher in risky assets. Yesterday, however, these fears were on the back burner thanks to the weekly EIA report on US [...]

2021-07-29T09:06:30+00:00July 29th, 2021|

Struggling for direction

Last week’s wild price swings have given way to calmer sessions. Brent and WTI were little changed for a second day running on Tuesday. Pricing pressures have been temporarily put on hold amid the ongoing tug-of-war between Delta variant concerns and expectations of crude deficits. Yet while the energy complex settles into a holding pattern, [...]

2021-07-28T07:17:32+00:00July 28th, 2021|

Uneven recovery causes headwinds

If the impact of the Delta variant of the coronavirus has ever been in doubt it is enough to have a quick glance at the performances of assorted stock indices. The MSCI Asia-Pacific (excluding Japan) index has lost more than 4% this month, whilst the S&P 500 index has gained nearly 3%. Asian economies are [...]

2021-07-27T08:39:16+00:00July 27th, 2021|


Those returning from a week-long holiday could be forgiven for thinking that excitement has been in short supply across the oil market of late. After all, Brent only managed to gain 51 cts/bbl last week while WTI tacked on 26 cts/bbl. Yet these modest weekly changes bely what was a rollercoaster week for the energy [...]

2021-07-26T08:11:18+00:00July 26th, 2021|
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