Base metal prices continue their upward trajectory. Meanwhile, we have identified several potentially bullish items (and a few bearish items) related to growing demand and rising supply-chain costs. Metals Factors…
Since mid-February, Bakken Clearbrook prices have rallied into positive territory versus WTI for the first time since April 2020. Weather-induced supply disruptions have been the main contributor to the positive…
The three major agencies (EIA, IEA, OPEC) released their monthly reports this week, and each marginally cut 2021 worldwide demand growth estimates from the prior month. However, the bigger picture…
Lower supply expectations in the U.S. and abroad, and expectations for a recovery in global oil demand, will support prices through the end of 2021, according to the EIA.The EIA…
Natural gas withdrawals, which typically begin in mid-November in the U.S., are likely to begin about two weeks early this year. Implied daily gas-storage changes over the past week have…
Crude oil prices in 2021 face an uphill battle with demand forecast to improve gradually and OPEC holding plenty of dry powder Our view on crude oil prices is neutral…
Lower natural gas production could mean a tighter propane balance this winter. However, there are headwinds that could limit a higher price outlook past the next five-months. Pre-Covid, propane production…
Libyan daily oil production has climbed to 500 MBbl/d, from 150MBbl/d earlier this month, according to Bloomberg. The country’s largest oil field, The Sharara, lifted its force majeure on October…