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>For the week ending 28/Mar, U.S. natural gas prices gained 4.6% due to rising LNG exports and a drop in daily natural gas output.</li>
<li>Henry Hub gained 1.7% on 27/Mar (Thu), driven by lower output, record LNG exports, and stronger demand forecasts, despite a build in U.S. natural gas storage.</li>
<li>Henry Hub OI PCR decreased to 0.98 on 28/Mar from 1.05 on 21/Mar. Call OI fell by 10.1% WoW, while put OI dropped by 16.1%.</li>
</ul>


For the week ending 28/Mar, U.S. natural gas prices gained 4.6% due to rising LNG exports and a drop in daily natural gas output.
Henry Hub gained 1.7% on 27/Mar (Thu), driven by lower output, record LNG exports, and stronger demand forecasts, despite a build in U.S. natural gas storage.
Henry Hub OI PCR decreased to 0.98 on 28/Mar from 1.05 on 21/Mar. Call OI fell by 10.1% WoW, while put OI dropped by 16.1%.


[US Nat Gas Options Weekly 2025/13] Henry Hub Rebounds on Declining Output and Rising LNG Exports

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>WTI futures rose 1.6% for the week ending 28/Mar, driven by escalating trade tensions and declining U.S. crude oil inventories.</li>
<li>The U.S. rig count fell by one to 592. The oil rig count dropped by two to 484, and gas rigs rose by one to 103.</li>
<li>WTI OI PCR grew to 0.91 on 28/Mar from 0.90 on 21/Mar. Call OI increased by 7.0% WoW, while put OI grew by 7.3%.</li>
</ul>


WTI futures rose 1.6% for the week ending 28/Mar, driven by escalating trade tensions and declining U.S. crude oil inventories.
The U.S. rig count fell by one to 592. The oil rig count dropped by two to 484, and gas rigs rose by one to 103.
WTI OI PCR grew to 0.91 on 28/Mar from 0.90 on 21/Mar. Call OI increased by 7.0% WoW, while put OI grew by 7.3%.


[US Crude Oil Options Weekly 2025/13] WTI Climbed on Tariffs and Inventory Draws

<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

<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