Global Cross-Asset Energy Analyst, VAC Investments

Aaditya Chintalapati, CFA

Global Cross-Asset Energy Analyst

Thematic (Sector/Industry)

<h2>Oil Price</h2><p>Crude prices had a volatile week, with WTI ending c.2% lower at USD 58.27/bbl, while Brent was largely flat at USD 63.61/bbl. Downside pressure on WTI following the TransCanada Keystone pipeline restart early in the week was modestly moderated by the extension of OPEC cuts to end-2018 from March next year, previously. </p><p>OPEC and Russia have agreed to extend the current production cuts until the end of 2018 (previously set to expire in March 2018). In addition, Nigeria and Libya, which are…</p>

Oil PriceCrude prices had a volatile week, with WTI ending c.2% lower at USD 58.27/bbl, while Brent was largely flat at USD 63.61/bbl. Downside pressure on WTI following the TransCanada Keystone pipeline restart early in the week was modestly moderated by the extension of OPEC cuts to end-2018 from March next year, previously. OPEC and Russia have agreed to extend the current production cuts until the end of 2018 (previously set to expire in March 2018). In addition, Nigeria and Libya, which are…

<h2>Oil Price</h2><p>We saw diverging price moves across the oil complex this week. Fear of an extended supply disruption at the Keystone pipeline drove WTI to its highest weekly gain since 2015, to close the week at USD 58.63/bbl. In contrast, Brent prices only moved up modestly to close the week at USD 63.71/bbl, with traders pausing ahead of a likely extension of OPEC quota cuts during their meeting this Thursday (30 Nov). The quota cuts are currently set to expire by March 2018. However, we would argue…</p>

Oil PriceWe saw diverging price moves across the oil complex this week. Fear of an extended supply disruption at the Keystone pipeline drove WTI to its highest weekly gain since 2015, to close the week at USD 58.63/bbl. In contrast, Brent prices only moved up modestly to close the week at USD 63.71/bbl, with traders pausing ahead of a likely extension of OPEC quota cuts during their meeting this Thursday (30 Nov). The quota cuts are currently set to expire by March 2018. However, we would argue…

<h2>Oil Price</h2><p>We saw another strong week for WTI and Brent Crude prices, with both up c.2% to USD 56.74/bbl and USD 63.52/bbl, respectively. This is the highest oil price seen since mid-2015 and is driven by market anticipation of an extension to OPEC's production cut beyond March 2018. Further, heightened geopolitical risks in oil-producing countries in the Middle East (Saudi Arabia &amp; Lebanon) and Latin America also contributed to rising oil prices. This was however modestly moderated by growth in…</p>

Oil PriceWe saw another strong week for WTI and Brent Crude prices, with both up c.2% to USD 56.74/bbl and USD 63.52/bbl, respectively. This is the highest oil price seen since mid-2015 and is driven by market anticipation of an extension to OPEC's production cut beyond March 2018. Further, heightened geopolitical risks in oil-producing countries in the Middle East (Saudi Arabia &amp; Lebanon) and Latin America also contributed to rising oil prices. This was however modestly moderated by growth in…

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

<p style="text-align: justify;">In developed markets, Europe offers textbook pullback opportunities, with indices like the STOXX 600 and DAX (below) testing 200-day moving averages. Japan, too, exhibits a pullback opportunity, though much shallower in depth (a sign of strength).</p><p style="text-align: justify;">Now pan to emerging markets and you’ll find where leadership is concentrated, where the MSCI EM Index is breaking out to all-time highs, and where its relative strength trend is bottoming versus the U.S. and international markets.</p><p style="text-align: justify;">In short, the technical environment remains bullish, and so does our outlook.</p>

In developed markets, Europe offers textbook pullback opportunities, with indices like the STOXX 600 and DAX (below) testing 200-day moving averages. Japan, too, exhibits a pullback opportunity, though much shallower in depth (a sign of strength).Now pan to emerging markets and you’ll find where leadership is concentrated, where the MSCI EM Index is breaking out to all-time highs, and where its relative strength trend is bottoming versus the U.S. and international markets.In short, the technical environment remains bullish, and so does our outlook.

EM Continues to Escort Int'l Markets Higher

Energy Expert

Thierry Bros, PhD

Thierrybros.com

<p>As mentioned on 31 January 2017 in <a href="https://www.smartkarma.com/insights/energy-who-could-benefit-from-brexit" target="_blank" data-smartkarma-citation="insights:8488">Energy: Who Could Benefit from Brexit?</a>, "Independent trading houses operating in Europe (like <a href="https://www.smartkarma.com/entities/764" target="_blank" data-smartkarma-citation="entities:764:1">Glencore Plc (GLEN LN)</a>, Trafigura or Vitol) would be able to take advantage of the increased volatility and spread" and "some LNG producers close to Europe and LNG portfolio players would be able to arbitrage the EU vs the UK". Since this publication, Trafigura is seeking to reopen an LNG import terminal in the UK. </p><p>Enjoy a short updated <a href="https://www.dukascopy.com/tv/en#206316" target="_blank">webcast</a>, where I reiterate the 3…</p>

As mentioned on 31 January 2017 in Energy: Who Could Benefit from Brexit?, "Independent trading houses operating in Europe (like Glencore Plc (GLEN LN), Trafigura or Vitol) would be able to take advantage of the increased volatility and spread" and "some LNG producers close to Europe and LNG portfolio players would be able to arbitrage the EU vs the UK". Since this publication, Trafigura is seeking to reopen an LNG import terminal in the UK. Enjoy a short updated webcast, where I reiterate the 3…

Independent Trading Houses to Benefit from Brexit

United Kingdom

Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, development, and production of oil and gas fields in Northwest Europe. It has interests in six principal producing oil and gas fields in the United Kingdom and Norway, including interests in the Schooner and Ketch gas fields, and the Blane oil field in the United Kingdom; and interests in the producing Njord, Brage, and Ringhorne East fields in Norway. The company was founded in 1997 and is headquartered in Aberdeen, the United Kingdom.

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Faroe Petroleum (FPM LN)

Global E&Ps: Energy Weekly Vol. 4

Oil PriceCrude prices had a volatile week, with WTI ending c.2% lower at USD 58.27/bbl, while Brent was largely flat at USD 63.61/bbl. Downside...

Aaditya Chintalapati, CFA

Global E&Ps: Energy Weekly Vol. 3

Oil PriceWe saw diverging price moves across the oil complex this week. Fear of an extended supply disruption at the Keystone pipeline drove WTI to...

Aaditya Chintalapati, CFA

Global E&Ps: Energy Weekly Vol. 1

Oil PriceWe saw another strong week for WTI and Brent Crude prices, with both up c.2% to USD 56.74/bbl and USD 63.52/bbl, respectively. This is the...

Aaditya Chintalapati, CFA

EM Continues to Escort Int'l Markets Higher

In developed markets, Europe offers textbook pullback opportunities, with indices like the STOXX 600 and DAX (below) testing 200-day moving...

Vermilion Research

Independent Trading Houses to Benefit from Brexit

As mentioned on 31 January 2017 in Energy: Who Could Benefit from Brexit?, "Independent trading houses operating in Europe (like Glencore Plc (GLEN...

Thierry Bros, PhD

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