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 08/Nov, US crude inventories rose by 2.1m barrels, surpassing expectations of a 0.4m barrel increase. Meanwhile, gasoline and distillate stocks unexpectedly declined.</li>
<li>US natural gas inventories rose 42 Bcf for the week ending 08/Nov, exceeding analyst expectations of a 34 Bcf buildup. Inventories are 6.1% above the 5-year seasonal average.</li>
<li>Occidental beat revenue and EPS estimates by 0.7% and 34.8%, respectively led by higher hydrocarbon output. Analysts upgraded their 12-month PTs on Occidental, Chevron, Exxon, and Halliburton.</li>
</ul>


For the week ending 08/Nov, US crude inventories rose by 2.1m barrels, surpassing expectations of a 0.4m barrel increase. Meanwhile, gasoline and distillate stocks unexpectedly declined.
US natural gas inventories rose 42 Bcf for the week ending 08/Nov, exceeding analyst expectations of a 34 Bcf buildup. Inventories are 6.1% above the 5-year seasonal average.
Occidental beat revenue and EPS estimates by 0.7% and 34.8%, respectively led by higher hydrocarbon output. Analysts upgraded their 12-month PTs on Occidental, Chevron, Exxon, and Halliburton.


[ETP 2024/46] WTI Drops on Strong Dollar, Henry Hub Gains on Lower Output and Better Demand Outlook

<ul>
<li>WTI futures gained 1.3% for the week ending 08/Nov, boosted by OPEC’s output delay but weighed down by a strong dollar and weak economic data from China.</li>
<li>WTI options Put/Call volume ratio remained unchanged at 0.66 from last week (01/Nov), as call volume increased by 24.3% WoW and put volume grew by 24.7%.  </li>
<li>WTI OI PCR inched up to 0.77 from 0.75 (01/Nov) last week. Call OI grew by 4.8% WoW, while put OI rose by 7.4%.</li>
</ul>


WTI futures gained 1.3% for the week ending 08/Nov, boosted by OPEC’s output delay but weighed down by a strong dollar and weak economic data from China.
WTI options Put/Call volume ratio remained unchanged at 0.66 from last week (01/Nov), as call volume increased by 24.3% WoW and put volume grew by 24.7%.  
WTI OI PCR inched up to 0.77 from 0.75 (01/Nov) last week. Call OI grew by 4.8% WoW, while put OI rose by 7.4%.


[US Crude Oil Options Weekly 2024/45] WTI Uptrend Halted by Strong Dollar and Weak Economic Data

<ul>
<li>The US oil and gas rig count remained unchanged for the third week in a row, remaining at 585 for the week ending on 08/Nov.</li>
<li>For the week ending 01/Nov, US oil production remained at a record output of 13.5 million bpd for the fourth consecutive week.</li>
<li>For the week ending 08/Nov, US energy producers added two rigs in Oklahoma and one each in Pennsylvania and Wyoming, while cutting three rigs in Louisiana and one in Colorado.</li>
</ul>


The US oil and gas rig count remained unchanged for the third week in a row, remaining at 585 for the week ending on 08/Nov.
For the week ending 01/Nov, US oil production remained at a record output of 13.5 million bpd for the fourth consecutive week.
For the week ending 08/Nov, US energy producers added two rigs in Oklahoma and one each in Pennsylvania and Wyoming, while cutting three rigs in Louisiana and one in Colorado.


US Rig Count Unchanged for Third Week in a Row as Oil and Gas Rigs Remain Steady

<ul>
<li>For the week ending 01/Nov, US crude inventories rose by 2.1m barrels, contrary to expectations of a 0.3m barrel decrease. Gasoline and distillate stocks also bucked forecasts of a decline.</li>
<li>US natural gas inventories rose 69 Bcf for the week ending 01/Nov, higher than analyst expectations of a 67 Bcf buildup. Inventories are 5.8% above the 5-year seasonal average.</li>
<li>Halliburton missed revenue and EPS estimates by 2.2% and 2.7%. While Aramco beat revenue and EPS estimates by 11.2% and 2.2%. Numerous analysts upgraded their 12-month PT for Chevron.</li>
</ul>


For the week ending 01/Nov, US crude inventories rose by 2.1m barrels, contrary to expectations of a 0.3m barrel decrease. Gasoline and distillate stocks also bucked forecasts of a decline.
US natural gas inventories rose 69 Bcf for the week ending 01/Nov, higher than analyst expectations of a 67 Bcf buildup. Inventories are 5.8% above the 5-year seasonal average.
Halliburton missed revenue and EPS estimates by 2.2% and 2.7%. While Aramco beat revenue and EPS estimates by 11.2% and 2.2%. Numerous analysts upgraded their 12-month PT for Chevron.


[ETP 2024/45] WTI Drops on Trump’s Win and Rising Inventories, Henry Hub Gains on Supply Disruptions

<ul>
<li>WTI futures fell 3.2% for the week ending 01/Nov, as Israel’s limited strike on Iran offset unexpected declines in US crude and gasoline inventories.</li>
<li>WTI options Put/Call volume ratio fell to 0.66 from 0.80 last week (25/Oct), as call volume increased by 40.6% WoW and put volume grew by 15.1%.  </li>
<li>WTI OI PCR inched up to 0.75 from 0.74 (25/Oct) last week. Call OI grew by 3.8% WoW, while put OI rose by 4.1%.</li>
</ul>


WTI futures fell 3.2% for the week ending 01/Nov, as Israel’s limited strike on Iran offset unexpected declines in US crude and gasoline inventories.
WTI options Put/Call volume ratio fell to 0.66 from 0.80 last week (25/Oct), as call volume increased by 40.6% WoW and put volume grew by 15.1%.  
WTI OI PCR inched up to 0.75 from 0.74 (25/Oct) last week. Call OI grew by 3.8% WoW, while put OI rose by 4.1%.


[US Crude Oil Options Weekly 2024/44] WTI Failed to Recover Losses Last Week Despite Macro Tailwinds

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 2024/46] WTI Drops on Strong Dollar, Henry Hub Gains on Lower Output and Better Demand Outlook

US crude inventories rose more than expected, while gasoline and distillate stocks fell; nat-gas stocks also exceeded analyst expectations....

Mint Finance

[US Crude Oil Options Weekly 2024/45] WTI Uptrend Halted by Strong Dollar and Weak Economic Data

WTI prices ended the week higher but faced strong downward pressure from a rising dollar and economic weakness from China. The put-call volume...

Mint Finance

US Rig Count Unchanged for Third Week in a Row as Oil and Gas Rigs Remain Steady

US oil and gas rig count steady at 585, US oil production at record high of 13.5 million bpd for fourth week. Slight changes in rig activity...

Mint Finance

[ETP 2024/45] WTI Drops on Trump’s Win and Rising Inventories, Henry Hub Gains on Supply Disruptions

US crude and natural gas inventories rose above expectations, while Halliburton missed estimates and Aramco exceeded them. Analysts upgrade target...

Mint Finance

[US Crude Oil Options Weekly 2024/44] WTI Failed to Recover Losses Last Week Despite Macro Tailwinds

WTI prices ended the week lower, unable to recover from early losses, despite positive US and China economic data. The put-call volume ratio...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2024/46] WTI Drops on Strong Dollar, Henry Hub Gains on Lower Output and Better Demand Outlook

​US crude inventories rose more than expected, while gasoline and distillate stocks fell; nat-gas stocks also exceeded analyst expectations....

Mint Finance

[US Crude Oil Options Weekly 2024/45] WTI Uptrend Halted by Strong Dollar and Weak Economic Data

WTI prices ended the week higher but faced strong downward pressure from a rising dollar and economic weakness from China. The put-call volume...

Mint Finance

US Rig Count Unchanged for Third Week in a Row as Oil and Gas Rigs Remain Steady

​US oil and gas rig count steady at 585, US oil production at record high of 13.5 million bpd for fourth week. Slight changes in rig activity...

Mint Finance

[ETP 2024/45] WTI Drops on Trump’s Win and Rising Inventories, Henry Hub Gains on Supply Disruptions

​US crude and natural gas inventories rose above expectations, while Halliburton missed estimates and Aramco exceeded them. Analysts upgrade target...

Mint Finance

[US Crude Oil Options Weekly 2024/44] WTI Failed to Recover Losses Last Week Despite Macro Tailwinds

WTI prices ended the week lower, unable to recover from early losses, despite positive US and China economic data. The put-call volume ratio...

Mint Finance

US crude inventories rose more than expected, while gasoline and distillate stocks fell; nat-gas stocks also exceeded analyst expectations....

US oil and gas rig count steady at 585, US oil production at record high of 13.5 million bpd for fourth week. Slight changes in rig activity...

US crude and natural gas inventories rose above expectations, while Halliburton missed estimates and Aramco exceeded them. Analysts upgrade target...