In today’s briefing:
- Supply Glut to Press Down WTI Crude Prices in 2025
- Nickel markets look ahead at battery, steel sector stimulus, Indonesian growth
- [US Crude Oil Options Weekly 2024/52] WTI Rises as Crude Stockpiles Fall and China Outlook Improves
- [US Nat Gas Options Weekly 2024/52] Henry Hub Slips Amid Modest Natural Gas Storage Withdrawal
- [Tire Market] CEAT Acquires Michelin Arm As Latter Enters SUV Tire Market In India
- JSW Energy X O2 Power: 25 GW Powerhouse
- Element Solutions Inc.: Will Its Power Electronics Expansion Be A Potential Game Changer? – Major Drivers
Supply Glut to Press Down WTI Crude Prices in 2025
- Trump’s pro-oil stance is expected to weigh on prices by boosting U.S. output in an oversupplied market. Like in his first term, he aims to expand drilling in federal lands.
- During Trump’s first term, federal land leases averaged 1.62 million acres annually, a stark contrast to Biden’s 138,000 acres, implying a dramatic 91% decline.
- Rising U.S. oil production has reduced OPEC+ share to 48% from 55% in 2016. OPEC+ fears further U.S. output growth under Trump could weaken its ability to sustain prices.
Nickel markets look ahead at battery, steel sector stimulus, Indonesian growth
- Nickel market focusing on developments in Indonesia, China, and US policies
- Impact of policy changes on nickel demand in the battery sector
- Potential diversification in ownership of Indonesian nickel projects due to concerns over Chinese stakeholding.
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[US Crude Oil Options Weekly 2024/52] WTI Rises as Crude Stockpiles Fall and China Outlook Improves
- WTI futures rose 1.6% for the week ending 27/Dec, led by China’s planned stimulus initiative and declining U.S. crude oil stockpiles.
- WTI options Put/Call volume ratio rose to 0.97 from 0.95 (20/Dec) last week, as call volume grew by 22.3% WoW while put volume increased by 25.2%.
- WTI OI PCR rose to 0.89 from 0.87 last week. Call OI inched up by 1.8% WoW, while put OI rose by 3.6%.
[US Nat Gas Options Weekly 2024/52] Henry Hub Slips Amid Modest Natural Gas Storage Withdrawal
- US natural gas prices fell by 9.7% for the week ending 27/Dec, as volatile weather forecasts and a smaller-than-expected drawdown in natural gas inventories offset rising LNG exports.
- Henry Hub Put/Call volume ratio jumped to 1.05 from 0.60 (20/Dec) the previous week as call volumes dropped by 73.1% WoW, while put volumes fell by 52.4%.
- Henry Hub OI PCR inched up to 0.85 from 0.84 compared to last week. Call OI fell by 17.1% WoW, while put OI decreased by 16.5%.
[Tire Market] CEAT Acquires Michelin Arm As Latter Enters SUV Tire Market In India
- CEAT buys Off-Highway Tires (OHT) business and Camso brand for US$225 million
- CEAT to access 40 global OEMs and a vast network of OHT distributors
- Michelin expands Chennai TBR tire plant, spending US$66 million
JSW Energy X O2 Power: 25 GW Powerhouse
- The acquisition of O2 Power brings with it a robust portfolio of 4,696 MW of renewable energy assets, wherein JSWE’s Current operational capacity stands at 7740 MW
- JSW Energy’s total locked-in generation capacity will reach nearly 24,708 MW by June 2027, marking a substantial increase of 23% from its previous capacity of 20,012 MW
- JSW Energy can leverage its in-house EPC and O&M capabilities to unlock further value from the 4.7 GW portfolio.
Element Solutions Inc.: Will Its Power Electronics Expansion Be A Potential Game Changer? – Major Drivers
- Element Solutions Inc. reported its financial results for the third quarter of 2024, showcasing notable growth and strategic initiatives that both bolster and challenge the company’s outlook.
- On the positive side, the company demonstrated a consistent strategic execution by targeting high value segments within the electronics supply chain.
- This focus has allowed it to benefit from trends like advanced packaging and power electronics, especially in sectors like high-performance computing, electric vehicles (EVs), and semiconductor assembly.