Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

<ul>
<li>U.S. oil producers need prices between USD 61-70 per barrel to maintain profitability. With prices around USD 60 per barrel, drilling activity is likely to decrease.</li>
<li>Rising tariffs and trade uncertainty are increasing oilfield equipment costs and threatening production growth in the United States.</li>
<li>While Saudi Arabia faces fiscal pressures and OPEC supply constraints, Petrobras benefits from low breakeven costs, no OPEC restrictions, and strong investment.</li>
</ul>


U.S. oil producers need prices between USD 61-70 per barrel to maintain profitability. With prices around USD 60 per barrel, drilling activity is likely to decrease.
Rising tariffs and trade uncertainty are increasing oilfield equipment costs and threatening production growth in the United States.
While Saudi Arabia faces fiscal pressures and OPEC supply constraints, Petrobras benefits from low breakeven costs, no OPEC restrictions, and strong investment.


The Diverging Impact of Falling Crude Prices on Various Oil Producing Regions

<ul>
<li>Crude prices plunged to multi-year lows amid rising global supply and trade tensions, stoking demand fears and slowing U.S. shale activity.</li>
<li>Oilfield services firms are underperforming peers as falling rig counts and steel tariffs drive up costs and erode margins.</li>
<li>With fixed-cost-heavy models and fewer upstream clients, the sector faces amplified downside risks and limited pricing power in the near term.</li>
</ul>


Crude prices plunged to multi-year lows amid rising global supply and trade tensions, stoking demand fears and slowing U.S. shale activity.
Oilfield services firms are underperforming peers as falling rig counts and steel tariffs drive up costs and erode margins.
With fixed-cost-heavy models and fewer upstream clients, the sector faces amplified downside risks and limited pricing power in the near term.


Oilfield Services Industry to Bear the Brunt of Falling Oil Prices

Metals, Ores, and Mining Firms, Mint Finance

Pranay Yadav

Metals, Ores, and Mining Firms

Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, deep purple, to rusty red. The iron itself is usually found in the form of magnetite (Fe3O4, 72.4% Fe), hematite (Fe2O3, 69.9% Fe), goethite (FeO(OH), 62.9% Fe), limonite (FeO(OH).n(H2O)) or siderite (FeCO3, 48.2% Fe).

<ul>
<li>SGX IO Futures gained $2.69/ton this week, closing at $100.24/ton on April 23, breaking above the R1 level of $99.00/ton.</li>
<li>Managed Money flipped to net short while Physicals turned net long, signaling a major positioning shift</li>
<li>MACD divergence and RSI at 51.09 reflect building bullish momentum despite prices trading below long-term moving averages.</li>
</ul>


SGX IO Futures gained $2.69/ton this week, closing at $100.24/ton on April 23, breaking above the R1 level of $99.00/ton.
Managed Money flipped to net short while Physicals turned net long, signaling a major positioning shift
MACD divergence and RSI at 51.09 reflect building bullish momentum despite prices trading below long-term moving averages.


[IO Technicals Weekly 2025/17] Bullish Momentum Builds

<ul>
<li>For the week ending 18/Apr, U.S. crude inventories rose by 0.2m barrels (vs. expectations of a 0.7m barrel fall). Gasoline and distillate stockpiles fell more than expected.</li>
<li>Henry Hub is headed for a fourth straight weekly decline. U.S. natural gas inventories rose by 88 Bcf, exceeding analyst expectations of a 69 Bcf build.</li>
<li>Analysts cut price targets for Exxon, Chevron, Occidental, and Halliburton. Activist investor Elliott raised its stake in BP to just over 5% via derivative contracts.</li>
</ul>


For the week ending 18/Apr, U.S. crude inventories rose by 0.2m barrels (vs. expectations of a 0.7m barrel fall). Gasoline and distillate stockpiles fell more than expected.
Henry Hub is headed for a fourth straight weekly decline. U.S. natural gas inventories rose by 88 Bcf, exceeding analyst expectations of a 69 Bcf build.
Analysts cut price targets for Exxon, Chevron, Occidental, and Halliburton. Activist investor Elliott raised its stake in BP to just over 5% via derivative contracts.


[ETP 2025/17] WTI Tumbles Amid U.S. Trade Policy Uncertainty, Henry Hub Continues to Slide

Equity Bottom-Up

Schlumberger Limited is an oil services company. The Company, through its subsidiaries, provides a wide range of services, including technology, project management and information solutions to the international petroleum industry as well as advanced acquisition and data processing surveys.

<ul>
<li>Schlumberger will report its Q1 earnings on 25/Apr, with revenue and EPS projected to fall sequentially and annually due to subdued oil prices and demand.</li>
<li>Schlumberger's OI PCR at 0.70, signalling neutral sentiment, with a 96% IV percentile indicating high volatility.</li>
<li>For the 25/Apr expiry, SLB’s OI shows calls concentrated at strikes 42, 43, and 45, while puts dominate at 34, 33, and 32, with lower put OI at key levels.</li>
</ul>


Schlumberger will report its Q1 earnings on 25/Apr, with revenue and EPS projected to fall sequentially and annually due to subdued oil prices and demand.
Schlumberger's OI PCR at 0.70, signalling neutral sentiment, with a 96% IV percentile indicating high volatility.
For the 25/Apr expiry, SLB’s OI shows calls concentrated at strikes 42, 43, and 45, while puts dominate at 34, 33, and 32, with lower put OI at key levels.


[Pre Earnings Options Flash] Schlumberger’s Options Data Suggests Mixed Signals Ahead of Q1

Mint Finance
Deep Fundamental Analysis

The Diverging Impact of Falling Crude Prices on Various Oil Producing Regions

U.S. oil producers face profitability challenges with prices near USD 60/b, while trade uncertainty raises equipment costs. Saudi Arabia struggles...

Mint Finance

Oilfield Services Industry to Bear the Brunt of Falling Oil Prices

Crude prices drop due to supply surge and trade tensions, impacting oilfield services firms with rising costs and limited pricing power.

Mint Finance

[IO Technicals Weekly 2025/17] Bullish Momentum Builds

IO rose this week, driven by improved U.S.-China trade sentiment, strong Chinese steel production, and shifting investor positioning. Technicals...

Mint Finance

[ETP 2025/17] WTI Tumbles Amid U.S. Trade Policy Uncertainty, Henry Hub Continues to Slide

US crude inventories rose unexpectedly, while gasoline and distillate stockpiles fell. Analysts lowered price targets for major oil companies,...

Mint Finance

[Pre Earnings Options Flash] Schlumberger’s Options Data Suggests Mixed Signals Ahead of Q1

Schlumberger's Q1 earnings expected to decline due to low oil prices, with neutral sentiment and high volatility in options market for 25/Apr expiry.

Mint Finance

The Diverging Impact of Falling Crude Prices on Various Oil Producing Regions

​U.S. oil producers face profitability challenges with prices near USD 60/b, while trade uncertainty raises equipment costs. Saudi Arabia struggles...

Mint Finance

Oilfield Services Industry to Bear the Brunt of Falling Oil Prices

​Crude prices drop due to supply surge and trade tensions, impacting oilfield services firms with rising costs and limited pricing power.

Mint Finance

[IO Technicals Weekly 2025/17] Bullish Momentum Builds

IO rose this week, driven by improved U.S.-China trade sentiment, strong Chinese steel production, and shifting investor positioning. Technicals...

Mint Finance

[ETP 2025/17] WTI Tumbles Amid U.S. Trade Policy Uncertainty, Henry Hub Continues to Slide

​US crude inventories rose unexpectedly, while gasoline and distillate stockpiles fell. Analysts lowered price targets for major oil companies,...

Mint Finance

[Pre Earnings Options Flash] Schlumberger’s Options Data Suggests Mixed Signals Ahead of Q1

​Schlumberger's Q1 earnings expected to decline due to low oil prices, with neutral sentiment and high volatility in options market for 25/Apr expiry.

Mint Finance

U.S. oil producers face profitability challenges with prices near USD 60/b, while trade uncertainty raises equipment costs. Saudi Arabia struggles...

Crude prices drop due to supply surge and trade tensions, impacting oilfield services firms with rising costs and limited pricing power.

US crude inventories rose unexpectedly, while gasoline and distillate stockpiles fell. Analysts lowered price targets for major oil companies,...

Schlumberger's Q1 earnings expected to decline due to low oil prices, with neutral sentiment and high volatility in options market for 25/Apr expiry.