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>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><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

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?

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>An unexpected increase in US crude oil and gasoline inventories pushed oil prices down but the ongoing conflicts capped the downside.</li>
<li>Growing natural gas output dampens Henry Hub’s uptrend. Europe will ban transshipments of Russian LNG in its ports from March 2025.</li>
<li>Chevron's Wheatstone LNG facility in Australia resumed full production. Wells Fargo lowered its target price on Shell but raised it on Occidental.</li>
</ul>


An unexpected increase in US crude oil and gasoline inventories pushed oil prices down but the ongoing conflicts capped the downside.
Growing natural gas output dampens Henry Hub’s uptrend. Europe will ban transshipments of Russian LNG in its ports from March 2025.
Chevron's Wheatstone LNG facility in Australia resumed full production. Wells Fargo lowered its target price on Shell but raised it on Occidental.


[ETP 26/2024] Oil Prices Drop on Surprise Inventory Build; Oil Majors Slide but Retain Gains

<ul>
<li>US oil rig count falls to 485 as of the week ending on 21/June, its lowest since January 2022.</li>
<li>US oil and gas rig count is falling as producers prioritize shareholder returns over increasing output.</li>
<li>Rising labour and equipment costs along with macroeconomic uncertainties further discourage producers from adding rigs.  </li>
</ul>


US oil rig count falls to 485 as of the week ending on 21/June, its lowest since January 2022.
US oil and gas rig count is falling as producers prioritize shareholder returns over increasing output.
Rising labour and equipment costs along with macroeconomic uncertainties further discourage producers from adding rigs.  


US Crude Oil Output at Risk as Rig Count Plummets

<ul>
<li>The gap between OPEC and IEA’s oil demand forecasts widened: OPEC kept its 2024 forecast at 2.25m bpd, while IEA lowered its forecast to 960k bpd from 1.1m bpd.</li>
<li>Europe’s attempt to cut Russian LNG imports grows stronger, as the French Senate Committee recommends cutting Russian dependence.</li>
<li>Since 17/June, Energy majors began recovering. Berkshire increased its holdings in Occidental, while Shell expanded its LNG market access by acquiring Pavilion Energy.</li>
</ul>


The gap between OPEC and IEA’s oil demand forecasts widened: OPEC kept its 2024 forecast at 2.25m bpd, while IEA lowered its forecast to 960k bpd from 1.1m bpd.
Europe’s attempt to cut Russian LNG imports grows stronger, as the French Senate Committee recommends cutting Russian dependence.
Since 17/June, Energy majors began recovering. Berkshire increased its holdings in Occidental, while Shell expanded its LNG market access by acquiring Pavilion Energy.


[ETP 25/2024] Energy Majors Bounce Back; Their Expansion Spree Continues

<ul>
<li>OPEC+ decided to extend production cuts to the end of 2025. It also plans to ease voluntary output cuts starting this October.</li>
<li>Easing hints sent oil prices tanking, shedding 5% over two days. Weak demand and ample supply thanks to overproduction by OPEC+ members lend little price support.</li>
<li>Summer driving season will ramp up gasoline demand. Weather might dampen demand, but panic buying will more than offset the demand pullback.</li>
</ul>


OPEC+ decided to extend production cuts to the end of 2025. It also plans to ease voluntary output cuts starting this October.
Easing hints sent oil prices tanking, shedding 5% over two days. Weak demand and ample supply thanks to overproduction by OPEC+ members lend little price support.
Summer driving season will ramp up gasoline demand. Weather might dampen demand, but panic buying will more than offset the demand pullback.


OPEC’s Hint at Easing Production Cuts Sends Oil Prices Tanking

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
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Crude Oil (CL1 COM COMDTY)

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

[ETP 26/2024] Oil Prices Drop on Surprise Inventory Build; Oil Majors Slide but Retain Gains

Inventory build-up in the US points to signs of weaker-than-expected summer demand, Nat-gas prices hit by rising output. Uptrend in oil & gas...

Mint Finance

US Crude Oil Output at Risk as Rig Count Plummets

US oil rig count continues to plummet, touching its lowest level in 2024. The current oil rig count is the lowest since January 2022, while the...

Mint Finance

[ETP 25/2024] Energy Majors Bounce Back; Their Expansion Spree Continues

Oil prices rise on seasonal demand growth and Middle East conflicts. Henry Hub slides on the forecast of cooler temperatures next week. Energy...

Mint Finance

OPEC’s Hint at Easing Production Cuts Sends Oil Prices Tanking

Oil prices tanking on OPEC’s intention to ease cuts. Seasonal demand to push gasoline demand & prices despite hurricane fears. This backdrop is...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)