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.

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Commodities

<ul>
<li>WTI futures rose by 1.6% for the week ending 11/Oct, as the simmering tensions in the Middle East outweighed persistent demand concerns.</li>
<li>WTI options Put/Call volume ratio fell to 0.52 from 0.64 (04/Oct) as put volume dropped by 50.9% WoW while call volume fell by 39.8%.</li>
<li>WTI OI PCR was unchanged at 0.76 compared to last week. Call OI rose by 5.7% WoW, while put OI grew by 5.8%.</li>
</ul>


WTI futures rose by 1.6% for the week ending 11/Oct, as the simmering tensions in the Middle East outweighed persistent demand concerns.
WTI options Put/Call volume ratio fell to 0.52 from 0.64 (04/Oct) as put volume dropped by 50.9% WoW while call volume fell by 39.8%.
WTI OI PCR was unchanged at 0.76 compared to last week. Call OI rose by 5.7% WoW, while put OI grew by 5.8%.


[US Crude Oil Options Weekly 2024/41] China's Weakness Poses Risk to WTI's Recent Two-Week Gains

<ul>
<li>The US oil and gas rig count rose by one to 586 for the week ending 11/Oct, marking an increase after falling for three consecutive weeks.</li>
<li>The US oil rig count increased by two to 481. Meanwhile, gas rigs decreased by one to 101, after gaining six rigs over the last two weeks.</li>
<li>For the week ending 11/Oct, US energy producers added six rigs in Texas and one in Oklahoma but cut two each in Pennsylvania, Louisiana, and New Mexico.</li>
</ul>


The US oil and gas rig count rose by one to 586 for the week ending 11/Oct, marking an increase after falling for three consecutive weeks.
The US oil rig count increased by two to 481. Meanwhile, gas rigs decreased by one to 101, after gaining six rigs over the last two weeks.
For the week ending 11/Oct, US energy producers added six rigs in Texas and one in Oklahoma but cut two each in Pennsylvania, Louisiana, and New Mexico.


US Rig Count Rises After Falling for Three Consecutive Weeks

<ul>
<li>For the week ending 04/Oct, US crude inventories rose by 5.8m barrels, exceeding expectations of a 2m barrel build. However, gasoline and distillate stockpiles fell more than expected.</li>
<li>US natural gas inventories rose by 82 Bcf for the week ending 04/Oct, higher than analyst expectations of a 73 Bcf buildup. Inventories are 5.1% above the 5-year seasonal average.</li>
<li>Chevron and Shell experienced target price upgrades, while Schlumberger and Occidental’s target prices were cut. Notably, BNP Paribas downgraded Exxon to Underperform from Neutral.</li>
</ul>


For the week ending 04/Oct, US crude inventories rose by 5.8m barrels, exceeding expectations of a 2m barrel build. However, gasoline and distillate stockpiles fell more than expected.
US natural gas inventories rose by 82 Bcf for the week ending 04/Oct, higher than analyst expectations of a 73 Bcf buildup. Inventories are 5.1% above the 5-year seasonal average.
Chevron and Shell experienced target price upgrades, while Schlumberger and Occidental’s target prices were cut. Notably, BNP Paribas downgraded Exxon to Underperform from Neutral.


[ETP 2024/41] WTI Rises Amid Supply Disruption Fears; Nat-Gas Demand Wanes Due to Hurricane Milton

<ul>
<li>WTI futures rose by 9.1% for the week ending 04/Oct, its strongest weekly gain since October 2022. The surge was led by escalating tensions between Israel and Iran.</li>
<li>WTI options Put/Call volume ratio fell to 0.64 (04/Oct) from 0.76 (27/Sep) as call volume jumped by 120% WoW while put volume grew by 86.6%.</li>
<li>WTI OI PCR fell to 0.76 for the week ending 04/Oct from 0.77 last week. Call OI rose by 11.4% WoW, while put OI grew by 10.4%.</li>
</ul>


WTI futures rose by 9.1% for the week ending 04/Oct, its strongest weekly gain since October 2022. The surge was led by escalating tensions between Israel and Iran.
WTI options Put/Call volume ratio fell to 0.64 (04/Oct) from 0.76 (27/Sep) as call volume jumped by 120% WoW while put volume grew by 86.6%.
WTI OI PCR fell to 0.76 for the week ending 04/Oct from 0.77 last week. Call OI rose by 11.4% WoW, while put OI grew by 10.4%.


[US Crude Oil Options Weekly 2024/40] WTI Surged Amid Fears of Israeli Retaliation Against Iran

<ul>
<li>The US oil and gas rig count declined by two to 585 for the week ending 04/Oct, marking the seventh drop in eight weeks.</li>
<li>The US oil rig count fell by five to 479, its lowest since 19/Jul. Gas rigs rose by three to 102, marking its third straight weekly gain.</li>
<li>For the week ending 04/Oct, US energy producers added two rigs in Texas but cut three in New Mexico and one each in Louisiana and Oklahoma.  </li>
</ul>


The US oil and gas rig count declined by two to 585 for the week ending 04/Oct, marking the seventh drop in eight weeks.
The US oil rig count fell by five to 479, its lowest since 19/Jul. Gas rigs rose by three to 102, marking its third straight weekly gain.
For the week ending 04/Oct, US energy producers added two rigs in Texas but cut three in New Mexico and one each in Louisiana and Oklahoma.  


US Rig Count Falls for Third Straight Week as Oil Rigs Decline

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)

[US Crude Oil Options Weekly 2024/41] China's Weakness Poses Risk to WTI's Recent Two-Week Gains

WTI futures rose 1.6%, supported by escalating tensions in the Middle East, despite concerns over demand. However, a disappointing Chinese stimulus...

Mint Finance

US Rig Count Rises After Falling for Three Consecutive Weeks

For the week ending 11/Oct, the US rig count grew by 1 to 586. Oil rigs increased by 2, while gas rigs fell by 1. US oil and gas producers added...

Mint Finance

[ETP 2024/41] WTI Rises Amid Supply Disruption Fears; Nat-Gas Demand Wanes Due to Hurricane Milton

WTI prices rise as supply concerns outweigh demand worries and larger-than-expected build in US crude inventories. US nat-gas inventories also...

Mint Finance

[US Crude Oil Options Weekly 2024/40] WTI Surged Amid Fears of Israeli Retaliation Against Iran

WTI prices surged amid concerns over a potential Israeli attack on Iran's oil infrastructure. Meanwhile, the put-call volume ratio fell as the call...

Mint Finance

US Rig Count Falls for Third Straight Week as Oil Rigs Decline

For the week ending 04/Oct, the US rig count fell by 2 to 585. Oil rigs dropped by 5, while gas rigs rose by 3 again.US oil and gas producers added...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[US Crude Oil Options Weekly 2024/41] China's Weakness Poses Risk to WTI's Recent Two-Week Gains

WTI futures rose 1.6%, supported by escalating tensions in the Middle East, despite concerns over demand. However, a disappointing Chinese stimulus...

Mint Finance

US Rig Count Rises After Falling for Three Consecutive Weeks

For the week ending 11/Oct, the US rig count grew by 1 to 586. Oil rigs increased by 2, while gas rigs fell by 1. US oil and gas producers added...

Mint Finance

[ETP 2024/41] WTI Rises Amid Supply Disruption Fears; Nat-Gas Demand Wanes Due to Hurricane Milton

​WTI prices rise as supply concerns outweigh demand worries and larger-than-expected build in US crude inventories. US nat-gas inventories also...

Mint Finance

[US Crude Oil Options Weekly 2024/40] WTI Surged Amid Fears of Israeli Retaliation Against Iran

WTI prices surged amid concerns over a potential Israeli attack on Iran's oil infrastructure. Meanwhile, the put-call volume ratio fell as the call...

Mint Finance

US Rig Count Falls for Third Straight Week as Oil Rigs Decline

For the week ending 04/Oct, the US rig count fell by 2 to 585. Oil rigs dropped by 5, while gas rigs rose by 3 again.US oil and gas producers added...

Mint Finance

WTI prices rise as supply concerns outweigh demand worries and larger-than-expected build in US crude inventories. US nat-gas inventories also...