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

Natural gas is a naturally occurring hydrocarbon gas mixture consisting primarily of methane, but commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium. It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure supplied by existing under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of chemical bonds in the gas.

<ul>
<li>WTI rebounded in March due to geopolitical risks, but oversupply concerns and Trump’s unpredictable policies may limit further gains as OPEC increases output from April.</li>
<li>Henry Hub rallied in 2025, driven by strong LNG demand, supply constraints, and below-average inventories, positioning it for sustained support despite short-term volatility.</li>
<li>Henry Hub’s technicals indicate a potential bullish reversal, while WTI’s bullish momentum shows signs of weakening, suggesting divergent trends in the near term.</li>
</ul>


WTI rebounded in March due to geopolitical risks, but oversupply concerns and Trump’s unpredictable policies may limit further gains as OPEC increases output from April.
Henry Hub rallied in 2025, driven by strong LNG demand, supply constraints, and below-average inventories, positioning it for sustained support despite short-term volatility.
Henry Hub’s technicals indicate a potential bullish reversal, while WTI’s bullish momentum shows signs of weakening, suggesting divergent trends in the near term.


WTI’s Recovery Wavers While Henry Hub Regains Momentum

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 rose $2.25/ton over the week, closing at $102.25/ton, buoyed by seasonal steel demand and technical support above 9D and 21D DMAs.</li>
<li>Implied volatility in iron ore options fell sharply YoY (ATM IV -36%, 10-delta puts -41%), making long volatility positions more affordable.</li>
<li>Futures and options open interest rose 6.85% WoW, with Financial Institutions increasing net long positions, reinforcing bullish positioning.</li>
</ul>


SGX IO Futures rose $2.25/ton over the week, closing at $102.25/ton, buoyed by seasonal steel demand and technical support above 9D and 21D DMAs.
Implied volatility in iron ore options fell sharply YoY (ATM IV -36%, 10-delta puts -41%), making long volatility positions more affordable.
Futures and options open interest rose 6.85% WoW, with Financial Institutions increasing net long positions, reinforcing bullish positioning.


[IO Technicals Weekly 2025/13]: Bullish Momentum Builds as IV Eases

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>For the week ending 21/Mar, U.S. crude inventories fell by 3.3m barrels (vs. expectations of 1.5m build), gasoline and distillate stockpiles fell less than expected.</li>
<li>US natural gas inventories rose by 37 Bcf for the week ending 21/Mar, in line with analyst expectations. Inventories are 6.5% below the 5-year seasonal average.</li>
<li>Shell to boost shareholder distributions to 40-50% of CFFO and cut costs by USD 5-7 billion by 2028. Exxon plans 250 layoffs in the UK by 2026.</li>
</ul>


For the week ending 21/Mar, U.S. crude inventories fell by 3.3m barrels (vs. expectations of 1.5m build), gasoline and distillate stockpiles fell less than expected.
US natural gas inventories rose by 37 Bcf for the week ending 21/Mar, in line with analyst expectations. Inventories are 6.5% below the 5-year seasonal average.
Shell to boost shareholder distributions to 40-50% of CFFO and cut costs by USD 5-7 billion by 2028. Exxon plans 250 layoffs in the UK by 2026.


[ETP 2025/13] WTI Climbs on Trade Disruptions, Moderate Weather Forecasts Cap Henry Hub

<ul>
<li>WTI futures rose 1.6% for the week ending 21/Mar, driven by escalating tensions in the Middle East and declining U.S. fuel inventories.</li>
<li>The U.S. rig count rose by one to 593. The oil rig count dropped by one to 486 and gas rigs rose by two to 102.</li>
<li>WTI OI PCR fell to 0.90 on 21/Mar from 0.93 on 14/Mar. Call OI decreased by 12.2% WoW, while put OI dropped by 14.6%.</li>
</ul>


WTI futures rose 1.6% for the week ending 21/Mar, driven by escalating tensions in the Middle East and declining U.S. fuel inventories.
The U.S. rig count rose by one to 593. The oil rig count dropped by one to 486 and gas rigs rose by two to 102.
WTI OI PCR fell to 0.90 on 21/Mar from 0.93 on 14/Mar. Call OI decreased by 12.2% WoW, while put OI dropped by 14.6%.


[US Crude Oil Options Weekly 2025/12] WTI Marks Second Weekly Gain on Rising Geopolitical Tensions

<ul>
<li>For the week ending 21/Mar, U.S. natural gas prices fell by 3% due to milder weather forecasts and larger-than-expected build in the U.S. natural gas inventories.</li>
<li>Henry Hub dropped by 6.4% on 20/Mar (Thu) after the EIA reported a 9 Bcf build in U.S. inventories. Prices ended the week below the 9-day and 21-day moving averages.</li>
<li>Henry Hub OI PCR increased to 1.05 on 21/Mar from 1.03 on 14/Mar. Call OI rose by 3.6% WoW, while put OI grew by 5%.</li>
</ul>


For the week ending 21/Mar, U.S. natural gas prices fell by 3% due to milder weather forecasts and larger-than-expected build in the U.S. natural gas inventories.
Henry Hub dropped by 6.4% on 20/Mar (Thu) after the EIA reported a 9 Bcf build in U.S. inventories. Prices ended the week below the 9-day and 21-day moving averages.
Henry Hub OI PCR increased to 1.05 on 21/Mar from 1.03 on 14/Mar. Call OI rose by 3.6% WoW, while put OI grew by 5%.


[US Nat Gas Options Weekly 2025/12] Henry Hub Falls for Second Week on Milder Weather Outlook

Mint Finance
Deep Fundamental Analysis

WTI’s Recovery Wavers While Henry Hub Regains Momentum

Geopolitical risks boost WTI in March, but oversupply and Trump policies may cap gains; Henry Hub rallies in 2025 on LNG demand and supply...

Mint Finance

[IO Technicals Weekly 2025/13]: Bullish Momentum Builds as IV Eases

Iron ore gained on seasonal demand and easing macro concerns, with technical indicators flashing bullish. Falling IV and rising institutional long...

Mint Finance

[ETP 2025/13] WTI Climbs on Trade Disruptions, Moderate Weather Forecasts Cap Henry Hub

US oil inventories fell more than expected, while natural gas inventories rose in line with expectations. Shell to increase shareholder...

Mint Finance

[US Crude Oil Options Weekly 2025/12] WTI Marks Second Weekly Gain on Rising Geopolitical Tensions

WTI futures rose due to Middle East tensions and lower U.S. fuel inventories, while U.S. rig count saw a slight increase. OI PCR fell with...

Mint Finance

[US Nat Gas Options Weekly 2025/12] Henry Hub Falls for Second Week on Milder Weather Outlook

U.S. natural gas prices fell by 3% last week due to milder weather forecasts and larger inventories, with Henry Hub dropping 6.4% on 20/Mar.

Mint Finance

WTI’s Recovery Wavers While Henry Hub Regains Momentum

​Geopolitical risks boost WTI in March, but oversupply and Trump policies may cap gains; Henry Hub rallies in 2025 on LNG demand and supply...

Mint Finance

[IO Technicals Weekly 2025/13]: Bullish Momentum Builds as IV Eases

Iron ore gained on seasonal demand and easing macro concerns, with technical indicators flashing bullish. Falling IV and rising institutional long...

Mint Finance

[ETP 2025/13] WTI Climbs on Trade Disruptions, Moderate Weather Forecasts Cap Henry Hub

​US oil inventories fell more than expected, while natural gas inventories rose in line with expectations. Shell to increase shareholder...

Mint Finance

[US Crude Oil Options Weekly 2025/12] WTI Marks Second Weekly Gain on Rising Geopolitical Tensions

​WTI futures rose due to Middle East tensions and lower U.S. fuel inventories, while U.S. rig count saw a slight increase. OI PCR fell with...

Mint Finance

[US Nat Gas Options Weekly 2025/12] Henry Hub Falls for Second Week on Milder Weather Outlook

​U.S. natural gas prices fell by 3% last week due to milder weather forecasts and larger inventories, with Henry Hub dropping 6.4% on 20/Mar.

Mint Finance

Geopolitical risks boost WTI in March, but oversupply and Trump policies may cap gains; Henry Hub rallies in 2025 on LNG demand and supply...

US oil inventories fell more than expected, while natural gas inventories rose in line with expectations. Shell to increase shareholder...

WTI futures rose due to Middle East tensions and lower U.S. fuel inventories, while U.S. rig count saw a slight increase. OI PCR fell with...

U.S. natural gas prices fell by 3% last week due to milder weather forecasts and larger inventories, with Henry Hub dropping 6.4% on 20/Mar.