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 06/Dec, US crude inventories fell by 1.4m barrels, beating expectations of a 1m barrel decrease. However, gasoline and distillate stocks rose more than expected again.</li>
<li>US natural gas inventories fell by 190 Bcf for the week ending 06/Dec, beating analyst expectations of a 175 Bcf drawdown. Inventories are 4.6% above the 5-year seasonal average.</li>
<li>Wells Fargo raised its 12-month PT for Chevron but lowered targets for Shell and Occidental. Exxon targets a CAGR of 10% in earnings and 8% in cash flow through 2030.</li>
</ul>


For the week ending 06/Dec, US crude inventories fell by 1.4m barrels, beating expectations of a 1m barrel decrease. However, gasoline and distillate stocks rose more than expected again.
US natural gas inventories fell by 190 Bcf for the week ending 06/Dec, beating analyst expectations of a 175 Bcf drawdown. Inventories are 4.6% above the 5-year seasonal average.
Wells Fargo raised its 12-month PT for Chevron but lowered targets for Shell and Occidental. Exxon targets a CAGR of 10% in earnings and 8% in cash flow through 2030.


[ETP 2024/50] WTI Rebounds on Outlook of Better Demand in 2025; Henry Hub Rises but Remains Volatile

<ul>
<li>For the week ending 29/Nov, US crude inventories fell by 5.1m barrels, beating expectations of a 1.6m barrel decrease. However, gasoline and distillate stocks rose more than expected.</li>
<li>US natural gas inventories fell by 30 Bcf for the week ending 29/Nov. Inventories are 7.8% above the 5-year seasonal average.</li>
<li>UBS raised its 12-month price target on Chevron. Shell and Equinor plan to merge their UK offshore oil and gas assets to create a new company.</li>
</ul>


For the week ending 29/Nov, US crude inventories fell by 5.1m barrels, beating expectations of a 1.6m barrel decrease. However, gasoline and distillate stocks rose more than expected.
US natural gas inventories fell by 30 Bcf for the week ending 29/Nov. Inventories are 7.8% above the 5-year seasonal average.
UBS raised its 12-month price target on Chevron. Shell and Equinor plan to merge their UK offshore oil and gas assets to create a new company.


[ETP 2024/49] WTI Recovers on OPEC Extending Cuts; Henry Hub Drops on Volatile Weather Forecasts

<ul>
<li>For the week ending 22/Nov, US crude inventories fell by 1.8m barrels, beating expectations of a 1.3m barrel decrease. However, gasoline and distillate stocks rose more than expected.</li>
<li>US natural gas inventories fell by 2 Bcf for the week ending 22/Nov, missing analyst expectations of a 4 Bcf decline. Inventories are 7.2% above the 5-year seasonal average.</li>
<li>Analysts raised their 12-month price targets on Chevron while trimming their targets for Exxon and Occidental. Both JP Morgan and Morgan Stanley reiterated their Overweight ratings on Reliance Industries.</li>
</ul>


For the week ending 22/Nov, US crude inventories fell by 1.8m barrels, beating expectations of a 1.3m barrel decrease. However, gasoline and distillate stocks rose more than expected.
US natural gas inventories fell by 2 Bcf for the week ending 22/Nov, missing analyst expectations of a 4 Bcf decline. Inventories are 7.2% above the 5-year seasonal average.
Analysts raised their 12-month price targets on Chevron while trimming their targets for Exxon and Occidental. Both JP Morgan and Morgan Stanley reiterated their Overweight ratings on Reliance Industries.


[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

<ul>
<li>For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.</li>
<li>US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.</li>
<li>TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.</li>
</ul>


For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.
US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.
TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.


[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

<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

France

TotalEnergies SE operates as an energy company. The Company produces, transports, and supplies crude oil, natural gas, and low carbon electricity, as well as refines petrochemical products. TotalEnergies owns and manages gasoline filling stations worldwide.

Price Gauge
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TotalEnergies (TTE US)

[ETP 2024/50] WTI Rebounds on Outlook of Better Demand in 2025; Henry Hub Rises but Remains Volatile

US crude inventories fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories beat expectations. Wells Fargo...

Mint Finance

[ETP 2024/49] WTI Recovers on OPEC Extending Cuts; Henry Hub Drops on Volatile Weather Forecasts

US crude inventories fell more than expected, while gasoline and distillate stocks rose. Natural gas inventories also fell, UBS raised Chevron's...

Mint Finance

[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

Mint Finance

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2024/50] WTI Rebounds on Outlook of Better Demand in 2025; Henry Hub Rises but Remains Volatile

​US crude inventories fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories beat expectations. Wells Fargo...

Mint Finance

[ETP 2024/49] WTI Recovers on OPEC Extending Cuts; Henry Hub Drops on Volatile Weather Forecasts

​US crude inventories fell more than expected, while gasoline and distillate stocks rose. Natural gas inventories also fell, UBS raised Chevron's...

Mint Finance

[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

​US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

Mint Finance

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

​US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

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 inventories fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories beat expectations. Wells Fargo...

US crude inventories fell more than expected, while gasoline and distillate stocks rose. Natural gas inventories also fell, UBS raised Chevron's...

US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

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