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 23/Aug, US crude inventories fell by 846k barrels, while analysts expected a 2.7 mb drawdown. Gasoline stocks dropped more than expected, while distillate inventories unexpectedly rose.</li>
<li>US natural gas inventories rise 35 bcf for the week ending 23/Aug, exceeding analyst expectations of a 33 bcf buildup. Inventories are 12.1% above the 5-year seasonal average</li>
<li>Exxon expects global crude oil demand to remain around 100m bpd through 2050. Brokerages lowered target prices on Occidental and Halliburton.</li>
</ul>


For the week ending 23/Aug, US crude inventories fell by 846k barrels, while analysts expected a 2.7 mb drawdown. Gasoline stocks dropped more than expected, while distillate inventories unexpectedly rose.
US natural gas inventories rise 35 bcf for the week ending 23/Aug, exceeding analyst expectations of a 33 bcf buildup. Inventories are 12.1% above the 5-year seasonal average
Exxon expects global crude oil demand to remain around 100m bpd through 2050. Brokerages lowered target prices on Occidental and Halliburton.


[ETP 2024/35] Crude Oil Slips Amid Demand Concerns; Nat-Gas Under Pressure from Oversupply

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Cross Asset Strategy

<ul><li>Hello everyone, and welcome back to our weekly positioning watch.</li><li>Markets have found their way back to pre-NFP levels as the storm seems to have calmed in equity markets.</li><li>Meanwhile, fixed income markets are focused on four rate cuts, despite many taking the NFP revisions last week too seriously, likely underestimating the impact of immigration on payroll data.</li></ul>

Hello everyone, and welcome back to our weekly positioning watch.Markets have found their way back to pre-NFP levels as the storm seems to have calmed in equity markets.Meanwhile, fixed income markets are focused on four rate cuts, despite many taking the NFP revisions last week too seriously, likely underestimating the impact of immigration on payroll data.

Positioning Watch – No Signs of a Recession in Positioning Data Yet

<ul>
<li>US oil and gas rig count fell by one to 585 for the week ending 23/Aug, marking a decline in rig count for the second straight week.</li>
<li>US oil rig count was unchanged at 483, after falling by two the week prior. Gas rigs fell by one to 97, after rising by one the previous week.</li>
<li>For the week ending 16/Aug, US crude oil production rose back to its record high of 13.4m bpd, after slipping down to 13.3m bpd the week prior.  </li>
</ul>


US oil and gas rig count fell by one to 585 for the week ending 23/Aug, marking a decline in rig count for the second straight week.
US oil rig count was unchanged at 483, after falling by two the week prior. Gas rigs fell by one to 97, after rising by one the previous week.
For the week ending 16/Aug, US crude oil production rose back to its record high of 13.4m bpd, after slipping down to 13.3m bpd the week prior.  


US Rig Count Drops for Second Consecutive Week as Gas Rigs Dip

<ul>
<li>For the week ending 16/Aug, US crude inventories dropped by 4.6 mb, exceeding the expected 2 mb drawdown. Gasoline and distillate stocks also declined, surpassing analyst expectations.</li>
<li>US natural gas inventories rise 35 bcf for the week ending 16/Aug, exceeding analyst expectations of a 26 bcf buildup. Inventories are 12.6% above the 5-year seasonal average.</li>
<li>UBS cut its target prices on Halliburton and Schlumberger but raised it for ExxonMobil and Occidental. Jefferies lowered its target price on Chevron.</li>
</ul>


For the week ending 16/Aug, US crude inventories dropped by 4.6 mb, exceeding the expected 2 mb drawdown. Gasoline and distillate stocks also declined, surpassing analyst expectations.
US natural gas inventories rise 35 bcf for the week ending 16/Aug, exceeding analyst expectations of a 26 bcf buildup. Inventories are 12.6% above the 5-year seasonal average.
UBS cut its target prices on Halliburton and Schlumberger but raised it for ExxonMobil and Occidental. Jefferies lowered its target price on Chevron.


[ETP 2024/34] Oil Slips on Weak Economic Indicators in US & China; Nat Gas Battles Oversupply

<ul>
<li>US oil and gas rig count fell by two to 586 for the week ending 16/Aug, indicating a decline for the second time in three weeks.</li>
<li>US oil rig count fell by two to 483, after rising by three the previous week. Gas rigs increased by one to 98, after declining for three straight weeks.</li>
<li>For the week ending 09/Aug, US crude oil production fell back to 13.3m bpd, after hitting its record high of 13.4m bpd the week prior.  </li>
</ul>


US oil and gas rig count fell by two to 586 for the week ending 16/Aug, indicating a decline for the second time in three weeks.
US oil rig count fell by two to 483, after rising by three the previous week. Gas rigs increased by one to 98, after declining for three straight weeks.
For the week ending 09/Aug, US crude oil production fell back to 13.3m bpd, after hitting its record high of 13.4m bpd the week prior.  


United States

Natural gas is a naturally occurring hydrocarbon gas mixture consisting primarily of methane, but commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium. It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure supplied by existing under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of chemical bonds in the gas.

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Natural Gas (NATURAL GAS COMDTY)

[ETP 2024/35] Crude Oil Slips Amid Demand Concerns; Nat-Gas Under Pressure from Oversupply

Weak U.S. crude withdrawal heightens demand concerns, while Libya and Israel-Hamas supply risks offer support. Exxon sees strong oil demand until...

Mint Finance

Positioning Watch – No Signs of a Recession in Positioning Data Yet

Hello everyone, and welcome back to our weekly positioning watch. Markets have found their way back to pre-NFP levels as the storm seems to have...

Steno Research

US Rig Count Drops for Second Consecutive Week as Gas Rigs Dip

For the week ending 23/Aug, the US rig count fell by 1 to 585. Oil rig count stayed flat while the gas rig count fell by 1. US crude output inched...

Mint Finance

[ETP 2024/34] Oil Slips on Weak Economic Indicators in US & China; Nat Gas Battles Oversupply

Despite US crude stock plunging 4.6mb, prices fell on weak economic data from the US & China. The EU reached its 90% gas storage goal early. UBS...

Mint Finance

Dip in Oil Rigs Drives US Rig Count Down

For the week ending 16/Aug, the US rig count fell by 2 to 586. Oil rig count fell by 2 while the gas rig count rose by 1.US crude output rolled...

Mint Finance

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