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

<ul>
<li>For the week ending 13/Dec, US crude inventories fell by 0.9m barrels, missing forecasts. Gasoline stocks rose more than anticipated, while distillate inventories declined more than expected.</li>
<li>US natural gas inventories fell by 125 Bcf for the week ending 13/Dec, beating analyst expectations of a 123 Bcf drawdown. Inventories are 3.8% above the 5-year seasonal average.</li>
<li>Major analysts lowered their 12-month PTs on Exxon, SLB, Halliburton, and Occidental. Also, Barclays downgraded its rating on Halliburton to Equalweight from Overweight.</li>
</ul>


For the week ending 13/Dec, US crude inventories fell by 0.9m barrels, missing forecasts. Gasoline stocks rose more than anticipated, while distillate inventories declined more than expected.
US natural gas inventories fell by 125 Bcf for the week ending 13/Dec, beating analyst expectations of a 123 Bcf drawdown. Inventories are 3.8% above the 5-year seasonal average.
Major analysts lowered their 12-month PTs on Exxon, SLB, Halliburton, and Occidental. Also, Barclays downgraded its rating on Halliburton to Equalweight from Overweight.


[ETP 2024/51] Fed’s Hawkish Tone Drags WTI Prices, Henry Hub Soars on Rising LNG Exports

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/crude-oil" target="_blank" data-smartkarma-citation="entities:22869:1" rel="noopener">Crude Oil (CL1)</a> has been steadily downtrending since June 2022. More recently (from the start of October) a flat bottom started to form, with attempts to rise higher.</li>
<li>The front-month future (Feb25) is range bound at the moment, between 71 (top) and 66 (bottom).</li>
<li>Our models see a strong barrier at 73, and a decent support at 67 for the next 2 weeks, check the insight to get all the details.</li>
</ul>



Crude Oil (CL1) has been steadily downtrending since June 2022. More recently (from the start of October) a flat bottom started to form, with attempts to rise higher.
The front-month future (Feb25) is range bound at the moment, between 71 (top) and 66 (bottom).
Our models see a strong barrier at 73, and a decent support at 67 for the next 2 weeks, check the insight to get all the details.


EQD | Crude Oil Hitting a Wall Before $73 - Eyeing $67 on the Pullback

<ul>
<li>WTI futures rose 6.1% for the week ending 13/Dec, driven by China's policy easing plans and supply concerns from sanctions on Russia and Iran.</li>
<li>WTI options Put/Call volume ratio fell 1.15 from 1.24 (06/Dec) last week, as call volume rose by 21.7% WoW while put volume increased by 12.6%.  </li>
<li>WTI OI PCR fell to 0.85 from 0.88 last week. Call OI rose by 7.0% WoW, while put OI increased by 3.3%.</li>
</ul>


WTI futures rose 6.1% for the week ending 13/Dec, driven by China's policy easing plans and supply concerns from sanctions on Russia and Iran.
WTI options Put/Call volume ratio fell 1.15 from 1.24 (06/Dec) last week, as call volume rose by 21.7% WoW while put volume increased by 12.6%.  
WTI OI PCR fell to 0.85 from 0.88 last week. Call OI rose by 7.0% WoW, while put OI increased by 3.3%.


[US Crude Oil Options Weekly 2024/50] WTI Gains on China Optimism and Sanction-Driven Concerns

Agri | Weather | Energy Transition, Mint Finance

Srinidhi Raghavendra

Agri | Weather | Energy Transition

<ul>
<li>The US oil and gas rig count remained unchanged at 589 for the week ending on 13/Dec, after rising by seven the previous week.</li>
<li>For the week ending 06/Dec, US oil production rose to a new high of 13.63m bpd from 13.50m bpd the week prior.</li>
<li>The number of active US oil rigs was steady at 482, while the US gas rig count rose by one to 103.</li>
</ul>


The US oil and gas rig count remained unchanged at 589 for the week ending on 13/Dec, after rising by seven the previous week.
For the week ending 06/Dec, US oil production rose to a new high of 13.63m bpd from 13.50m bpd the week prior.
The number of active US oil rigs was steady at 482, while the US gas rig count rose by one to 103.


US Rig Count Steady After Strong Surge Last Week

<ul>
<li>OPEC cut its 2024 demand growth forecast for the fifth consecutive time this year. It lowered its 2024 and 2025 forecast 11.5% and 5.8%, respectively.</li>
<li>The EIA and IEA lowered their 2024 demand projections by 10.1% and 8.7%, respectively. However, they raised their 2025 projections by 5.7% and 11.1%, respectively.</li>
<li>The EIA reduced 2024 and 2025 price forecasts for WTI and Brent, citing higher non-OPEC+ production and subdued demand, which are expected to drive global inventory builds after Q1 2025.</li>
</ul>


OPEC cut its 2024 demand growth forecast for the fifth consecutive time this year. It lowered its 2024 and 2025 forecast 11.5% and 5.8%, respectively.
The EIA and IEA lowered their 2024 demand projections by 10.1% and 8.7%, respectively. However, they raised their 2025 projections by 5.7% and 11.1%, respectively.
The EIA reduced 2024 and 2025 price forecasts for WTI and Brent, citing higher non-OPEC+ production and subdued demand, which are expected to drive global inventory builds after Q1 2025.


OPEC Cuts Demand Forecasts for Fifth Straight Month; EIA Lowers Price Outlook on Supply Glut

United States

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.

Price Gauge
52-week Range	0.00 - 0.00
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Crude Oil (CL1 COM COMDTY)

[ETP 2024/51] Fed’s Hawkish Tone Drags WTI Prices, Henry Hub Soars on Rising LNG Exports

US crude inventories fell, but gasoline stocks rose and natural gas inventories beat expectations. Major analysts lowered PTs on Exxon, SLB,...

Mint Finance

EQD | Crude Oil Hitting a Wall Before $73 - Eyeing $67 on the Pullback

Crude Oil has been forming a flat bottom since October. The front-month future is range bound between 71 and 66, our models see a strong barrier...

Nico Rosti

[US Crude Oil Options Weekly 2024/50] WTI Gains on China Optimism and Sanction-Driven Concerns

WTI futures surged 6.1% on China policy easing and supply concerns from Russia and Iran sanctions. Put/Call volume ratio dropped as call volume...

Mint Finance

US Rig Count Steady After Strong Surge Last Week

US oil and gas rig count holds steady as US oil production reaches new high. The number of active US oil rigs was steady at 482, while the US gas...

Mint Finance

OPEC Cuts Demand Forecasts for Fifth Straight Month; EIA Lowers Price Outlook on Supply Glut

OPEC, EIA, and IEA all lowered 2024 demand forecasts citing Weak demand from China. They expect a oversupplied market in 2025 due to increased...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2024/51] Fed’s Hawkish Tone Drags WTI Prices, Henry Hub Soars on Rising LNG Exports

​US crude inventories fell, but gasoline stocks rose and natural gas inventories beat expectations. Major analysts lowered PTs on Exxon, SLB,...

Mint Finance

EQD | Crude Oil Hitting a Wall Before $73 - Eyeing $67 on the Pullback

​Crude Oil has been forming a flat bottom since October. The front-month future is range bound between 71 and 66, our models see a strong barrier...

Nico Rosti

[US Crude Oil Options Weekly 2024/50] WTI Gains on China Optimism and Sanction-Driven Concerns

​WTI futures surged 6.1% on China policy easing and supply concerns from Russia and Iran sanctions. Put/Call volume ratio dropped as call volume...

Mint Finance

US Rig Count Steady After Strong Surge Last Week

​US oil and gas rig count holds steady as US oil production reaches new high. The number of active US oil rigs was steady at 482, while the US gas...

Mint Finance

OPEC Cuts Demand Forecasts for Fifth Straight Month; EIA Lowers Price Outlook on Supply Glut

​OPEC, EIA, and IEA all lowered 2024 demand forecasts citing Weak demand from China. They expect a oversupplied market in 2025 due to increased...

Mint Finance

US crude inventories fell, but gasoline stocks rose and natural gas inventories beat expectations. Major analysts lowered PTs on Exxon, SLB,...

Crude Oil has been forming a flat bottom since October. The front-month future is range bound between 71 and 66, our models see a strong barrier...

WTI futures surged 6.1% on China policy easing and supply concerns from Russia and Iran sanctions. Put/Call volume ratio dropped as call volume...

US oil and gas rig count holds steady as US oil production reaches new high. The number of active US oil rigs was steady at 482, while the US gas...

OPEC, EIA, and IEA all lowered 2024 demand forecasts citing Weak demand from China. They expect a oversupplied market in 2025 due to increased...