Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

Commodities

<ul><li>Expectations for tightening boscrudent liquids balances leading to stock draws</li><li>Historic anomaly of large surplus in products and deficit in crude</li><li>Uncertainty in market assessment of demand due to global economic moderation and potential recession</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Expectations for tightening boscrudent liquids balances leading to stock drawsHistoric anomaly of large surplus in products and deficit in crudeUncertainty in market assessment of demand due to global economic moderation and potential recessionThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: A Dichotomy in the Oil Balance

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.

<ul>
<li>US oil rig count stabilises at 479 as of the week ending on 5/July, after falling for five consecutive weeks.</li>
<li>The US natural gas rig count rose by 4 to 101, yet it remains 34 rigs lower than the count from the same week last year</li>
<li>Drilling activities in the US remain soft as upstream players prioritise shareholder returns over increasing output.</li>
</ul>


US oil rig count stabilises at 479 as of the week ending on 5/July, after falling for five consecutive weeks.
The US natural gas rig count rose by 4 to 101, yet it remains 34 rigs lower than the count from the same week last year
Drilling activities in the US remain soft as upstream players prioritise shareholder returns over increasing output.


US Oil Rig Decline Halts While Gas Rig Count Increases

<ul>
<li>US crude oil inventory declined by 12.2 million barrels as of the week ending on 28/Jun, the biggest drawdown since July 2023.</li>
<li>Henry Hub prices continued to decline from last week due to increased production and cooler weather forecasts.</li>
<li>Saudi Aramco awarded over USD 25 billion in contracts for gas expansion. Goldman Sachs lowered its target price on Saudi Aramco but maintained its “Neutral” rating.</li>
</ul>


US crude oil inventory declined by 12.2 million barrels as of the week ending on 28/Jun, the biggest drawdown since July 2023.
Henry Hub prices continued to decline from last week due to increased production and cooler weather forecasts.
Saudi Aramco awarded over USD 25 billion in contracts for gas expansion. Goldman Sachs lowered its target price on Saudi Aramco but maintained its “Neutral” rating.


[ETP 27/2024] Oil Prices Surge While Natural Gas Slides; Energy Majors' Gains Slowdown

<ul>
<li>Occidental trades at higher PE and PB valuations than Exxon Mobil, Chevron, Shell, TotalEnergies, and BP. European oil majors are cheaper than American peers.  </li>
<li>Occidental has been the Permian Basin's leading oil and gas producer for the past five years. </li>
<li>Occidental expects to close the USD 12 billion CrownRock acquisition by August. The deal is anticipated to boost its oil output by 170k bpd. </li>
</ul>


Occidental trades at higher PE and PB valuations than Exxon Mobil, Chevron, Shell, TotalEnergies, and BP. European oil majors are cheaper than American peers.  
Occidental has been the Permian Basin's leading oil and gas producer for the past five years. 
Occidental expects to close the USD 12 billion CrownRock acquisition by August. The deal is anticipated to boost its oil output by 170k bpd. 


Berkshire's Bullish Bet on Occidental Fails to Sway Market Sentiments

<ul><li>Global oil prices are on the rise, with Brent oil projected to average $84 in the third quarter and potentially reaching $90 by August or September</li><li>Demand for oil products is strong, especially in the US market, with record summer travel expected to drive up consumption</li><li>Chinese demand for oil is also increasing, with the country adding to its strategic reserves and seeing a surge in crude imports</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global oil prices are on the rise, with Brent oil projected to average $84 in the third quarter and potentially reaching $90 by August or SeptemberDemand for oil products is strong, especially in the US market, with record summer travel expected to drive up consumptionChinese demand for oil is also increasing, with the country adding to its strategic reserves and seeing a surge in crude importsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: If You Need Oil This Summer, Who You Gonna Call?

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.

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Crude Oil (CL1 COM COMDTY)

Global Commodities: A Dichotomy in the Oil Balance

Oil prices are expected to decrease in the fourth quarter of 2025 due to tightening balances, with global oil demand growth projected at 1.4...

At Any Rate

US Oil Rig Decline Halts While Gas Rig Count Increases

US oil & gas rig count rebounds after four weeks of decline, with gas rigs boosting the total while oil rigs remain stable. In the Permian Basin,...

Mint Finance

[ETP 27/2024] Oil Prices Surge While Natural Gas Slides; Energy Majors' Gains Slowdown

US crude oil inventory sees the biggest drawdown since July 2023. TotalEnergies exits South Africa to focus on Namibia. Jefferies cuts Chevron's...

Mint Finance

Berkshire's Bullish Bet on Occidental Fails to Sway Market Sentiments

Berkshire buys Occidental shares for nine straight trading days between 5/Jun-17/Jun. Occidental has the largest acreage in the Permian and has...

Mint Finance

Global Commodities: If You Need Oil This Summer, Who You Gonna Call?

High oil prices, tight market conditions, and strong global demand expected to drive prices up to $90 by August or September, with China increasing...

At Any Rate

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