$WTI

W & T Offshore Inc

  • NEW YORK STOCK EXCHANGE INC.
  • Energy Minerals
  • Oil & Gas Production

PRICE

$5.72 β–Ό-0.175%

Extented Hours

VOLUME

3,775,101

DAY RANGE

5.48 - 5.85

52 WEEK

2.64 - 9.01

Join Discuss about WTI with like-minded investors

TR
@trademaster #TradeHouses
12 minutes ago

By Alex Lawler LONDON (Reuters) -Oil hit a six-month low on Wednesday after a brief rally as concerns about the prospect of a global recession that would weaken demand overshadowed a report showing lower U.S. crude and gasoline stocks. Figures on Wednesday did little to improve the economic backdrop, showing British consumer price inflation jumped to 10.1% in July, its highest since February 1982, intensifying a squeeze on households. Brent crude fell as low as $91.51, the lowest since February, and by 1331 GMT was up 20 cents, or 0.2%, at $92.54. U.S. West Texas Intermediate (WTI) crude rose 57 cents, or 0.7%, to $87.10. "The oil market is struggling to shake off recession fears, and there is little to suggest that this will change any time soon," said Stephen Brennock of oil broker PVM. Earlier, prices gained support from a report showing lower U.S. crude and fuel stocks. Crude stocks fell about 448,000 barrels and gasoline by about 4.5 million barrels, said sources citing American Petroleum Institute figures on Tuesday. Official inventory data from the Energy Information Administration is out at 1430 GMT. [EIA/S] Oil has soared in 2022, coming close to an all-time high of $147 in March after Russia's invasion of Ukraine exacerbated supply concerns. Prices have fallen since as those concerns were edged out by the prospect of recession. "There are growing downside risks as a result of the growth outlook and ongoing uncertainty around Chinese COVID restrictions," said Craig Erlam of brokerage OANDA. An exodus of participants, especially hedge funds and speculators, has made daily price swings far greater than in previous years. On the oil supply front, the market is awaiting developments from talks to revive Iran's 2015 nuclear deal with world powers, which could eventually lead to a boost in Iranian oil exports if a deal is reached. The European Union and United States said on Tuesday they were studying Iran's response to what the EU has called its "final" proposal to save the deal.

5 Replies 6 πŸ‘ 6 πŸ”₯

TR
@trademaster #TradeHouses
18 minutes ago

By Emily Chow KUALA LUMPUR (Reuters) -Oil prices rose over $1 on Wednesday, rebounding from six-month lows hit the previous day, as an unexpectedly large drop in U.S. oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by the prospect of a global recession. Brent crude futures were last up 82 cents, or 0.9%, to $93.16 a barrel by 0630 GMT. West Texas Intermediate (WTI) crude futures also rose 85 cents, or 1%, to $87.38 a barrel. The contracts slumped about 3% on Tuesday as weak U.S. housing starts data spurred concerns about a potential global recession. "A drawdown of U.S. gasoline stockpiles for a second straight week has reassured investors that demand is resilient, prompting buys," said Kazuhiko Saito, chief analyst at Fujitomi Securities Co Ltd. "Still, the oil market is expected to stay under pressure, with fairly high volatility, due to worries over a potential global recession," he said. U.S. crude and fuel stocks fell in the latest week, according to market sources citing American Petroleum Institute figures on Tuesday. Crude stocks declined by about 448,000 barrels for the week ended Aug. 12. Gasoline inventories fell by about 4.5 million barrels, while distillate stocks were down by about 759,000 barrels, according to the sources. An extended Reuters poll showed on Tuesday that crude inventories probably dropped by around 300,000 barrels last week and gasoline stockpiles likely fell 1.1 million barrels, while distillate inventories rose. "There are a number of bearish factors and downside risks for oil at the moment, from the threat of recession to the poor data in China and the possibility of a nuclear deal between the U.S. and Iran," said Craig Erlam, senior market analyst at Oanda. "But crude has pulled back a long way and we can't forget that this remains a very tight market in the short term." Oil supply could rise if talks to revive the Iran's 2015 nuclear deal with world powers are successful, which would remove sanctions on Iranian oil exports, analysts said. The European Union and United States said on Tuesday they were studying Iran's response to what the EU has called its "final" proposal to save the deal after Tehran called on Washington to show flexibility. "When WTI prices were well north of $100, the revival of the Iranian nuclear agreement looked like a potentially winning mid-term issue but it appears to be a less compelling case in the current price and security context," said RBC Capital analyst Helima Croft in a note on Wednesday. "We would note that the Europeans are likely more incentivised to secure a deal given the looming supply shortage the continent faces when Russian sanctions come on in December." The EU will stop buying all Russian crude oil delivered by sea from early December and ban all Russian refined products two months later as part of sanctions imposed over Moscow's invasion of Ukraine. Russia calls its actions there "a special operation".

15 Replies 6 πŸ‘ 4 πŸ”₯

TR
@trademaster #TradeHouses
2 hours ago

By Lawrence White LONDON (Reuters) - European stocks crept sluggishly higher on Tuesday as investors sought safety in defensive names, while risk aversion likewise lifted the safe haven dollar following weak Chinese and U.S. economic data that stoked fears of a global recession. The dollar briefly hit a one-week high as investors piled back in having ditched the greenback last week following lower-then-expected U.S. inflation data, while the Aussie, euro and Chinese yuan buckled. Europe's benchmark STOXX index climbed 0.3% to hit a 10-week high and mark a fifth straight session of gains, led by mining companies as London-listed BHP Group (NYSE:BHP) reported strong results. But S&P 500 futures and Nasdaq futures dipped, indicating a likely weaker direction for U.S. markets when they open later. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.03% after gains earlier in the day. MSCI's benchmark index has gained 5% from the year's lows but is still down 15% this year. Just as investors were taking heart from a four-week rally in global equities that pushed markets to their highest in more than three months, Monday's weak Chinese activity data spanning industrial output and retail sales hit sentiment. Also, U.S. single-family homebuilders' confidence and New York state factory activity fell in August to their lowest since near the beginning of the COVID-19 pandemic, a further sign the world's largest economy is softening as the Federal Reserve raises interest rates. The picture was mixed across Asian bourses on Tuesday, with Tokyo and Taiwan benchmarks flat, while South Korean stocks put on 0.2%. Chinese stocks gave up early gains as growth concerns remained after data showed economic activity and credit expansion slowed sharply in July, prompting the central bank to unexpectedly cut interest rates. The blue-chip CSI 300 index slipped 0.2% after dipping on Monday. Bond markets, meanwhile, continued their tussle between fears over inflation and recession, which are particularly acute in the euro zone. Germany's 10-year yield, the benchmark for the euro zone, was up 3 basis points (bps) to 0.932%, holding below a two-week high of 1.025% touched last Friday. DOLLAR HAVEN Investors' latest move to the safety of the dollar came after the raft of weak global economic indicators. The U.S. economy contracted in the first and second quarters, amplifying a debate over whether the country is, or will soon be, in recession. On Tuesday, the dollar index, which measures the greenback against six major peers, rose as high as 106.87, its strongest since Aug. 8. The euro, the most heavily weighted currency in the dollar index, dropped 0.28% to 1.01305. The Australian and New Zealand dollars were put on the defensive by frail global data. Brent crude futures fell 1% to $94.11 as the bleak economic data from top crude buyer China renewed concerns of a global recession, and the market monitored talks on a reviving deal that could allow more Iranian oil exports. WTI crude futures shed 0.98% to $88.52 a barrel. Spot gold dipped slightly to $1,775.6 per ounce as the stronger dollar dented bullion's appeal and investors watched for signs of future rate hikes by the federal reserve.

40 Replies 9 πŸ‘ 8 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Sam Byford (Reuters) -Asian stocks were mixed and the yen fell on Friday, capping off a back-and-forth week that saw investors split on how aggressively the Federal Reserve would raise interest rates to tackle inflation. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.1%, and Australia's AXJO was down 0.72%. Hong Kong's Hang Seng index rose 0.35%, but Chinese blue-chip stocks fell 0.1%.Japan's Nikkei was the major outlier, surging 2.43% to its highest level since January as markets reopened following a national holiday. The yen fell 1.14% and was trading at 133.245 per dollar. European stock futures gave little indication of major moves for the day ahead. FTSE 100 futures were down 0.01%, with Britain set to report second-quarter gross domestic product later in the day, while Euro Stoxx 50 futures were down 0.03%. Markets were tentative early this week ahead of key economic data out of the United States. The consumer price index (CPI) report on Wednesday showed inflation was slightly lower than expected in July, while the producer price index (PPI) unexpectedly fell for the first time since April 2020.The slight easing of inflation readings had driven global stocks higher and capped a rising dollar, until a string of Fed speakers put paid to expectations of the central bank going slow on further policy tightening. "The Fed is going to do what they said, which is whatever it takes to address inflation, so you are seeing some repositioning around that out of U.S. equities," said Carlos Casanova, senior economist at UBP. The S&P 500 closed down 0.07% and the Nasdaq Composite lost 0.58% overnight, though the Dow Jones Industrial Average rose 0.08%. San Francisco Federal Reserve Bank president Mary Daly said on Thursday that while a 50 basis point rate hike next month "makes sense" given economic data, she'd be open to a bigger hike if necessary. The rate is currently in the 2.25%-2.5% range. Chicago Fed President Charles Evans said he believed the Fed would likely need to lift its policy rate to 3.25%-3.5% this year and to 3.75%-4% by the end of next year, in line with what Fed Chair Jerome Powell signalled after the Fed's latest meeting in July. Furthermore, Minneapolis Fed President Neel Kashkari said he hadn't "seen anything that changes" the need to raise the Fed's policy rate to 3.9% by year-end and to 4.4% by the end of 2023. Chewing over those comments, investors are still unsure how set the Fed is. Odds of a 75 bps hike in September were as high as 68% earlier in the week, but are now around 34%, where they were a week ago. "There are too many uncertainties to know the path of oil and other CPI prices ahead, but the peak of inflation is clearly behind us," Nikko Asset Management chief global strategist John Vail wrote in a note. "The key question is how far and how fast it will fall. We believe inflation will be quite sticky and central banks will need to be more hawkish than consensus." U.S. 10-year Treasury yields held firm after rising overnight and were last trading at 2.8765%. The yield plummeted on Wednesday's CPI data but rebounded to a near three-week high on Thursday.In commodities, Brent crude oil futures fell 54 cents to $98.06 a barrel. U.S. West Texas Intermediate crude was also down, dropping 55 cents to $93.79. Brent is still on track to gain more than 4% this week, while WTI looks likely to mark a weekly climb of 5%. Bitcoin, the leading cryptocurrency, shaved some overnight gains and lost 1.10% to trade at $23,943. Spot gold was up 0.11% at $1,791 an ounce.

117 Replies 9 πŸ‘ 6 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Alex Lawler LONDON (Reuters) - Oil rose over $1 a barrel on Tuesday, reversing an earlier decline, after Russia said oil exports to Europe via the southern leg of the Druzhba pipeline had been suspended since early August, reviving concern about tight supply. Russian pipeline monopoly Transneft said Ukraine had suspended oil flows via the pipeline leg because Western sanctions had prevented a payment from Moscow for transit fees from going through. "Not that we need it at this point but it's another reminder of how tight the market is and how sensitive the price is to supply disruptions, particularly those from Russia," said Craig Erlam of brokerage OANDA. Brent crude was up $1.28, or 1.3%, to $97.93 a barrel at 1136 GMT, after earlier falling as low as $94.90. U.S. West Texas Intermediate (WTI) crude gained $1.18, or 1.3%, to $91.94. The Druzhba development comes as supply worries had been abating amid growing concern about a recession. Earlier, oil was under pressure from progress in talks to revive the Iran nuclear accord, which would allow higher Iranian oil exports. Tamas Varga of oil broker PVM said the pipeline halt and general scepticism surrounding the Iranian nuclear deal had likely prompted the rally. "Having said that, the suspension should really have a short-term impact, in my view," he said. The European Union on Monday put forward a "final" text to revive the 2015 deal. A senior EU official said a final decision on the proposal, which needs U.S. and Iranian approval, was expected within "very, very few weeks". Talks have dragged on for months without a deal. Still, Iran's crude exports, according to tanker trackers, are at least 1 million barrels per day below their rate in 2018 when then U.S. President Donald Trump exited the nuclear agreement, so an agreement could allow a sizeable boost in supply. Oil soared earlier in the year as Russia's invasion of Ukraine added to supply concerns, with Brent hitting $139 in March, close to its all-time high. Brent fell as low as $92.78 on Friday, its lowest since February, as the Bank of England's warning on Thursday of a drawn-out downturn intensified fears of slowing fuel use. Coming into view is the latest round of weekly U.S. oil supply reports, firstly from the American Petroleum Institute at 2030 GMT. Analysts expect a small 400,000-barrel drop in crude inventories. [EIA/S]

52 Replies 13 πŸ‘ 10 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Shadia Nasralla LONDON (Reuters) -Oil prices hovered near multi-month lows on Monday as lingering worries about demand weakening on the back of a darkened economic outlook outweighed some positive economic data from China and the United States. Erasing earlier gains, Brent crude futures were down 55 cents, or 0.6%, at $94.37 a barrel by 1331 GMT. U.S. West Texas Intermediate crude was at $88.25 a barrel, down 76 cents, or 0.9%. Front-month Brent prices last week hit the lowest since February, tumbling 13.7% and posting their largest weekly drop since April 2020, while WTI lost 9.7%, as concerns about a recession hitting oil demand weighed on prices. "Last week’s price action left no doubt that recession-driven demand concerns have the upper hand over supply fears. One could even go as far as saying the war premium has evaporated," PVM analyst Stephen Brennock said. Both contracts recouped some losses on Friday after jobs growth in the United States, the world's top oil consumer, unexpectedly accelerated in July. On Sunday, China also surprised markets with faster-than-expected growth in exports. China, the world's top crude importer, brought in 8.79 million barrels per day (bpd) of crude in July, up from a four-year low in June, but still 9.5% less than a year earlier, customs data showed. In Europe, Russian crude and oil products exports continued to flow ahead of an impending embargo from the European Union that will take effect on Dec. 5. Last week, the Bank of England warned of a protracted recession in Britain. Gasoline demand in the United States continues to weaken despite falling prices at the pump, and stockpiles are rising. [EIA/S] In terms of U.S. production, energy firms last week cut the number of oil rigs by the most since September in the first drop in 10 weeks. [RIG/U] The U.S. clean energy sector received a boost after the Senate on Sunday passed a sweeping $430 billion bill.

95 Replies 13 πŸ‘ 8 πŸ”₯

profile
@mat #FOREX
recently

wti remeber gap

53 Replies 7 πŸ‘ 6 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Shadia Nasralla LONDON (Reuters) - Oil prices inched up on Wednesday, erasing earlier losses, as the OPEC+ producer group was set for a small output increase of 100,000 barrels per day, a document seen by Reuters showed, dashing U.S. hopes of a meaningful supply boost. Brent crude futures were up 78 cents, or 0.8%, at $101.32 a barrel at 1150 GMT. West Texas Intermediate (WTI) crude futures rose 94 cents, or 1%, to $95.36 a barrel. The premium for front-month Brent futures over barrels loading in six months' time is at a three-month low, indicating worries about current tight supply are abating. Ministers for members of the Organization of the Petroleum Exporting Countries and allies including Russia, together known as OPEC+, are poised to agree the small output increase, equal to about 0.1% of global oil demand, a document showed. While the United States has asked the group to boost output, spare capacity is limited and Saudi Arabia may be reluctant to beef up output at the expense of OPEC+ partner Russia, hit by sanctions due to the Ukraine conflict. Ahead of the meeting, OPEC+ trimmed its forecast for the oil market surplus this year by 200,000 barrels per day (bpd), to 800,000 bpd, three delegates told Reuters. Meanwhile, data from the American Petroleum Institute, an industry group, showed U.S. crude stocks rose by about 2.2 million barrels for the week ended July 29. Gasoline inventories fell by 200,000 barrels and distillate stocks by about 350,000 barrels. [API/S] Official data from the U.S. Energy Information Administration (EIA) are due at 1430 GMT. [EIA/S]

118 Replies 13 πŸ‘ 10 πŸ”₯

TR
@Trader3 #trader24-za
recently

stop on 30min close

57 Replies 8 πŸ‘ 6 πŸ”₯

profile
@mat #FOREX
recently

wti d1 gap

120 Replies 14 πŸ‘ 8 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Florence Tan SINGAPORE (Reuters) - Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures were down 82 cents, or 0.8%, at $103.15 a barrel at 0608 GMT. U.S. West Texas Intermediate crude was at $97.44 a barrel, down $1.18, or 1.2%. Fresh COVID-19 lockdowns snuffed out a brief recovery seen in June for factory activity in China, the world's largest crude oil importer. The Caixin/Markit manufacturing purchasing managers' index (PMI) eased to 50.4 in July from 51.7 in the previous month, well below analysts' expectations, data showed on Monday. Japanese manufacturing activity expanded at its weakest rate in 10 months in July, data showed on Monday. "China's disappointing manufacturing PMI is the primary factor that pressed on oil prices today," CMC Markets analyst Tina Teng said. "The data shows a surprising contraction of economic activities, suggesting that the recovery of the world-second-largest economy from the covid lockdowns may not be as positive as previously expected, which darkened the demand outlook of the crude oil markets." Brent and WTI ended July with their second straight monthly losses for the first time since 2020, as soaring inflation and higher interest rates raise fears of a recession that would erode fuel demand. ANZ analysts said fuel sales to drivers in Britain were waning, while gasoline demand remained below its five-year average for this time of the year. Reflecting this, analysts in a Reuters poll reduced for the first time since April their forecast for 2022 average Brent prices to $105.75 a barrel. Their estimate for WTI fell to $101.28. The Organization of the Petroleum Exporting Countries (OPEC)and allies including Russia, a group known as OPEC+, will meet on Wednesday to decide on September output. Two of eight OPEC+ sources in a Reuters survey said a modest increase for September would be discussed at the Aug. 3 meeting, while the rest said output would likely be held steady. The meeting comes after U.S. President Joe Biden visited Saudi Arabia last month. "While President Biden's visit to Saudi Arabia produced no immediate oil deliverables, we believe that the Kingdom will reciprocate by continuing to gradually increase output," RBC Capital analyst Helima Croft said in a note. The start of August sees OPEC+ having fully unwound record output cuts in place since the COVID-19 pandemic took hold in 2020. The group's new secretary general, Haitham al-Ghais, reiterated on Sunday that Russia's membership in OPEC+ is vital for the success of the agreement, Kuwait's Alrai newspaper reported. Meanwhile, U.S. oil production continued to climb as the rig count rose by 11 in July, increasing for a record 23rd month in a row, data from Baker Hughes showed. [RIG/U] A break for Brent prices below key support level of $102.68 could trigger a drop into the range of $99.52 to $101.26, Reuters technical analyst Wang Tao said. [TECH/C]

83 Replies 14 πŸ‘ 9 πŸ”₯

TR
@Trader3 #trader24-za
recently

The massive spread between the WTI and Brent sharply contracted from 10$ to 6$, giving 4$ bonus to arbitrageurs

112 Replies 12 πŸ‘ 12 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Shadia Nasralla LONDON (Reuters) -Oil prices rose in European trading on Friday as attention turned to next week's OPEC+ meeting and expectations that it will dash U.S. hopes for a supply boost. Brent crude futures for September settlement, due to expire on Friday, gained $3.06 to trade at $110.20 a barrel by 1325 GMT after touching their highest since July 5. The more active October contract was up $3.44 at $105.27. U.S. West Texas Intermediate (WTI) crude futures rose $3.54 to $99.96 a barrel. Both contracts are set for a second monthly loss, however, down 4.1% and 5.7% respectively. A weaker dollar and stronger equities also lent support on Friday. A fall in the dollar makes oil cheaper for buyers with other currencies. Global equities, which often move in tandem with oil prices, were up on the hope that U.S. monetary tightening would not be as hawkish as initially expected after disappointing growth figures. [MKTS/GLOB] A Reuters survey forecast Brent and U.S. crude would average $105.75 and $101.28 a barrel respectively this year. [OILPOLL] Front-month Brent futures are selling at a rising premium to later-loading months in a market structure known as backwardation, indicating tight current supply. "The oil market in Europe is considerably tighter than in the U.S., which is also reflected in the sharply falling Brent forward curve," said Commerzbank (ETR:CBKG) analyst Carsten Fritsch. A key driver will be the next meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, together known as OPEC+, on Aug. 3. OPEC+ sources said the group will consider keeping oil output unchanged for September, with two OPEC+ sources saying a modest increase would be discussed. A decision not to raise output would disappoint the United States after U.S. President Joe Biden visited Saudi Arabia this month hoping to strike a deal to open the taps. Analysts, however, said it would be difficult for OPEC+ to boost supply, given that many producers are already struggling to meet production quotas.

132 Replies 13 πŸ‘ 15 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Kanupriya Kapoor SINGAPORE (Reuters) - Asian stocks were mixed on Friday as fresh concerns about Chinese growth trumped any fillip regional markets received from brisk Wall Street earnings and some tempering of more aggressive expectations about U.S. interest rate hikes. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.31%, swinging into the red. Japan's Nikkei share average fell 0.26%, also erasing earlier gains. Pulling broader sentiment down were Chinese markets, with Hong Kong's Hang Seng index and the Shanghai composite index falling as much as 2.3% and 0.72% respectively. The Seoul index and Australia's index were up 0.40% and 0.88%, respectively. Futures markets pointed to a brisk European session with EUROSTOXX 50 futures up 0.38% and FTSE futures climbing 0.25%. The yen firmed against the dollar at 133.44, heading for its best month in two years as a fall in U.S. Treasury yields hit the greenback. Analysts say the overnight Wall Street rally could point to a disconnect between the dire reality consumers face and markets trying to leap forward and price in a Federal Reserve rate cut. "Enjoy the rally while it's there, but look carefully at the Fed messaging which depends on the course of inflation, look at the gas crisis in Europe where markets might panic, look at China still stuck in the mud because of their COVID policy," said Stephen Innes of SPI Asset Management. "We could go into deeper downswing because CPI data is slipping globally." Overnight, the Dow Jones Industrial Average rose 1.03%, the S&P 500 gained 1.21% and the Nasdaq Composite added 1.08%. Economists are debating whether the world's biggest economy is already in or on the verge of a recession, as it battles its highest inflation in four decades and gross domestic product shrinks - at a 0.9% annualized rate last quarter, after a 1.6% contraction in the quarter before that. The Federal Reserve delivered another aggressive interest rate hike of 75 basis points this week, its third this year. In Asia, investors focused on headlines that showed Beijing omitting reference to its full-year GDP growth target after a high-level Communist Party meeting, instead focusing on achieving the best possible results for the economy this year. Equities, however, rallied this week as comments by Fed Chair Jerome Powell led to speculation that rate hikes would begin to slow and eventually turn to rate cuts in 2023. Shares of Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) shot up 12% and 3%, respectively, after hours as the tech giants reported better-than-expected earnings. The yield on benchmark 10-year Treasury notes was at 2.6704% while the two-year note's yield, which typically moves in step with interest-rate expectations, was at 2.8399%. "There's this see-saw at the moment with inflation and growth concerns," said Tom Nash, fixed income portfolio manager at UBS Asset Management in Sydney, with surprisingly soft U.S. growth figures putting the focus on the latter. "When it's inflation concerns, yields are going up, when it's growth concerns yields are going down. What we're seeing at the moment is the market is putting less emphasis on inflation and more on growth." Brent crude futures turned negative, dropping 0.14% to $106.99 a barrel after hitting $108 in previous trade, and U.S. West Texas Intermediate crude (WTI) was at $96.64. Gold rose 0.38% to $1,762 an ounce, pressured by a strong dollar and Treasury yields. To read Reuters Markets and Finance news, click on the state of play of Asian stock markets please click on:

82 Replies 11 πŸ‘ 11 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Alex Lawler LONDON (Reuters) - Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker demand and a looming U.S. interest rate hike. Industry group the American Petroleum Institute said on Tuesday crude stocks fell by 4 million barrels, four times the forecast decline. [API/S] The Energy Information Administration's official figures are out at 1430 GMT. "Coupled with the Fed decision on interest rates, today is sure to be a heavy U.S.-centric session," said Stephen Brennock of oil broker PVM. Brent crude rose $1.04, or 1%, to $105.44 a barrel at 1145 GMT. U.S. West Texas Intermediate (WTI) crude gained $1.16, or 1.2%, to $96.14. "It looks the more vulnerable from a technical perspective, and a large gain by official U.S. crude inventories tonight could spark more selling," said Singapore-based analyst Jeffrey Halley of brokerage OANDA, referring to WTI. Oil has soared in 2022, reaching a 14-year high of $139 a barrel in March after Russia's invasion of Ukraine added to supply worries and as demand recovered from the pandemic. Since then, concerns of economic slowdown and rising interest rates have weighed, despite supply outages in Libya and Nigeria and cuts in Russian gas flows to Europe. Gas flows through the Nord Stream 1 pipeline fell to a fifth of the pipeline's capacity on Wednesday, while Italy's Eni said it will receive lower volumes from Russia's Gazprom (MCX:GAZP). Later on Wednesday the U.S. Federal Reserve is expected to announce an aggressive rate rise of 75 basis points, a prospect that analysts said was limiting the rally. A large rate hike would add to concern about the demand outlook and a stronger dollar, which would make dollar-denominated commodities more expensive for other currency holders. (Addiitonal reporting by Emily Chow in Kuala Lumpur, Editing by Louise Heavens)

127 Replies 8 πŸ‘ 9 πŸ”₯

TR
@Trader3 #trader24-za
recently

SYMBOL There is currently 9,5$ spread between the Brent and the WTI. Sell Short the Brent, Buy long the WTI @market@equivalent for some 4-5$ hedging gains

86 Replies 12 πŸ‘ 7 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Kevin Buckland TOKYO (Reuters) - Asian stocks lost ground on Monday, retreating from over three-week highs as worries about a global economic downturn sapped investors' risk appetite. Bond yields eased amid bets that an expected U.S. recession would slow the Federal Reserve's aggressive tightening campaign, with markets looking for policy clues from its two-day Federal Open Market Committee meeting which begins on Tuesday. At the same time, the dollar built on its recovery from a 2-1/2-week low against major peers, supported by demand for the U.S. currency as a safe haven. "Risk markets are obviously priced for some kind of slowdown, but are they priced for an outright recession? I would argue no," said Ray Attrill, head of currency strategy at National Australia Bank (OTC:NABZY). "In that sense, it's hard to say we've reached a bottom as far as risk sentiment is concerned." Japan's Nikkei retreated 0.75%, while Chinese blue chips lost 0.82%. Hong Kong's Hang Seng slid 0.75%, with its tech index tumbling 1.96%. MSCI's broadest index of Asia-Pacific shares lost 0.54% to 158.80, after touching the highest since June 29 at 160.03 on Friday. U.S. S&P 500 emini futures slipped 0.08%, pointing to an extension of the benchmark's 0.93% slump on Friday, when a survey showed business activity contracting for the first time in nearly two years amid persistently heated inflation and rapidly rising interest rates. Earlier that day, data also showed euro zone business activity unexpectedly shrank. Nasdaq futures were about flat, following a 1.77% tumble for the tech-heavy stock index, as the bottom dropped out from under Snap Inc (NYSE:SNAP) after the Snapchat owner posted its weakest-ever sales growth. [.N] Investors are on guard this week for how much a strong dollar will hurt financial results from heavyweights Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), among others. In Europe, EURO STOXX 50 index futures pointed 0.61% lower, and FTSE futures slid 0.52%. The dollar index - which measures the safe-haven currency against six major peers - was little changed at 106.64, after climbing off a 2-1/2-week low of 106.10 reached Friday. The greenback added 0.11% to 136.235 yen, while the euro slipped 0.04% to $1.02075. The 10-year U.S. Treasury yield was little changed at 2.785% after sliding from as high as 3.083% over the previous two sessions. Equivalent Japanese government bond yields dropped to the lowest since March 10 at 0.18%, and Australian yields dipped to the lowest since May 31 at 3.285%. The Fed concludes a two-day meeting on Wednesday and markets are priced for a 75 basis-point rate hike, with about a 9% chance of a full one percentage-point increase. Crude oil fell on concern that higher U.S. rates would limit fuel demand growth. Brent crude futures for September settlement dropped 48 cents, or 0.5%, to $102.72 a barrel and U.S. West Texas Intermediate (WTI) crude futures for September delivery fell 65 cents, or 0.7%, to $94.05 a barrel, both down for a fourth day. Gold was steady at $1,725.17 per ounce, getting support from lower bond yields. Bullion could push through resistance at around $1,770 if the Fed delivers a "dovish hike" on Wednesday, meaning forward guidance for a slowing in the pace of hikes for the remainder of the year, Chris Weston, head of research at brokerage Pepperstone, wrote in a client note. "The yellow rock works in this backdrop where traders are questioning if the USD is our default hedge against equity drawdown," Weston said. "I am warming to gold."

107 Replies 12 πŸ‘ 11 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Julia Payne LONDON (Reuters) -Oil prices fell on Friday on a weakening global demand outlook and the resumption of some Libyan crude oil output. Brent crude futures fell 55 cents to $103.32 a barrel by 1251 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down $1.05 to $95.30 a barrel. The global economy looks increasingly likely to be heading into a serious slowdown, just as central banks aggressively reverse ultra-loose monetary policy adopted during the pandemic to support growth, data showed on Friday. "Things are still negative on the economic front, but we are still in a structural shortfall for prompt oil and that means physical buyers will be there to support dips knowing the uncertainty of what lies ahead on the geopolitical front," said Stephen Innes, managing partner at SPI Asset Management. Innes said investors had next week's U.S. Federal Reserve decision on interest rates firmly on their minds. Fed officials have indicated that the central bank would likely raise rates by 75 basis points at its July 26-27 meeting. "While 75 is in the cards, guidance will be important and any softening in the rate hike outlook would be great for global growth," Innes added. While signs of softening U.S. demand weighed on oil prices and sent benchmark contracts sliding around 3% in the previous session, tight global supplies continued to keep the market buoyed. Supply fears were easing slightly though after Libya resumed production at several oil fields earlier this week. "Libyan production is recovering, but with clashes in the capital no one knows how long the production recovery will hold," Giovanni Staunovo, an analyst at UBS, said, referring to clashes between rival factions in Libya amid growing concern that a political standoff could prompt renewed conflict. Staunovo also said the market will look to preliminary OPEC production estimates for guidance next week. WTI has been pummelled over the past two sessions after data showed that U.S. gasoline demand had dropped nearly 8% from a year earlier in the midst of the peak summer driving season, hit by record prices at the pump. In contrast, signs of strong demand in Asia propped up the Brent benchmark, putting it on course for its first weekly gain in six weeks. Demand in India for gasoline and distillate fuels rose to record highs in June, despite higher prices, with total refined product consumption running at 18% more than a year ago and Indian refineries operating near their busiest levels ever, RBC analysts said. "This signals much more than a strong recovery from COVID-plagued years," RBC analyst Michael Tran said in a note.

95 Replies 14 πŸ‘ 8 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Jeslyn Lerh and Sonali Paul SINGAPORE (Reuters) -Oil prices climbed in Asia trading on Friday, rebounding from previous declines amid supply tightness and geopolitical tensions, even though weakened demand in the United States has cast a shadow on the market this week. Brent crude futures rose $1.61, or 1.6%, to $105.47 a barrel by 0630 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained $1.43, or 1.5%, to $97.78 a barrel. "Things are still negative on the economic front, but we are still in a structural shortfall for prompt oil and that means physical buyers will be there to support dips knowing the uncertainty of what lies ahead on the geopolitical front," said Stephen Innes, managing partner at SPI Asset Management. Innes said investors had next week's U.S. Federal Reserve decision on interest rates firmly on their minds. Fed officials have indicated that the central bank would likely raise rates by 75 basis points at its July 26-27 meeting. "While 75 is in the cards, guidance will be important and any softening in the rate hike outlook would be great for global growth," Innes added. While signs of softening U.S. demand weighed on oil prices and sent benchmark contracts sliding around 3% in the previous session, tight global supplies continued to keep the market buoyed. "Despite the sharp decline in oil prices, the outlook for the supply issue remains problematic. Until proven evidence for softened demands comes into sight, the (Ukraine) war-intensified supply shortage will keep the oil prices staying strong," said Tina Teng, an analyst at CMC Markets. WTI has been pummelled over the past two sessions after data showed that U.S. gasoline demand had dropped nearly 8% from a year earlier in the midst of the peak summer driving season, hit by record prices at the pump. In contrast, signs of strong demand in Asia propped up the Brent benchmark, putting it on course for its first weekly gain in six weeks. Demand in India for gasoline and distillate fuels rose to record highs in June, despite higher prices, with total refined product consumption running at 18% more than a year ago and Indian refineries operating near their busiest levels ever, RBC analysts said. "This signals much more than a strong recovery from COVID-plagued years," RBC analyst Michael Tran said in a note.

86 Replies 6 πŸ‘ 9 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Florence Tan (Reuters) -Oil prices slumped more than $1 a barrel on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product demand weakens. Brent crude prices for September fell $1.50, or 1.4%, to $105.85 a barrel by 0645 GMT, while U.S. West Texas Intermediate (WTI) crude for August slipped $1.40, or 1.3%, to $102.82 per barrel. The WTI contract will expire later on Wednesday. The more active September WTI contract was at $99.09 a barrel, down $1.65. Oil prices whipsawed in the previous session, caught in a tug-of-war between supply fears due to Western sanctions on Russia and pressures on indications from central bankers that they will raise interest rates to combat inflation. Both contracts settled about 1% higher on Tuesday on tight supplies globally which have also kept the prompt Brent intermonth spreads in wide backwardation at about $4.40 a barrel. Front-month prices are higher than those in future months in a backwardated market, indicating tight supplies. On Friday, open interest in New York Mercantile Exchange futures fell to their lowest since September 2015 as investors cut risky assets like commodities, worried that the Federal Reserve will keep raising U.S. interest rates. "People have been switching out of Delta 1 products – just being long the futures or long via the index – into options because of the sharp pullback," Stephen Innes, managing partner at SPI Asset Management, said in a note. "They have changed from being completely exposed to the downside to exploring it via options, tending towards buying calls, call spreads, and selling puts." In the United States, crude stocks rose by about 1.9 million barrels for the week ended July 15, according to market sources citing American Petroleum Institute figures on Tuesday. That was close to the forecast for a rise of 1.4 million barrels in a Reuters poll. Official weekly crude and fuel inventory data from the U.S. Energy Information Administration (EIA) is expected on Wednesday at 1530 GMT and traders are watching out for implied demand. [EIA/S] The U.S. 3:2:1 and gasoline crack spreads - measures of refining profit margins - both fell to their lowest since April on Tuesday, indicating weaker fuel demand.

48 Replies 11 πŸ‘ 12 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Ahmad Ghaddar LONDON (Reuters) -Oil prices fell 2% on Tuesday after soaring by more than $5 barrel in the previous session, weighed by fears that an economic slowdown will hit oil demand, but tight supplies and a weaker dollar curbed some losses. Brent crude futures for September settlement fell $1.62 or 1.5% to $104.65 a barrel by 1153 GMT. The contract rose 5.1% on Monday, the biggest percentage gain since April 12. WTI crude futures for August delivery fell by $1.87, or 1.8%, to $100.73 a barrel. The contract climbed 5.1% on Monday and the largest percentage gain since May 11. The August WTI contract expires on Wednesday and the more actively traded September contract was at $97.66 a barrel, down $1.76, or 1.8%. The International Monetary Fund on Tuesday warned that any Russian action to stop supplying Europe with gas would trigger economic contractions of more than 5% over the next year in the Czech Republic, Hungary, Slovakia and Italy, the Financial Times reported. Russia's Gazprom (MCX:GAZP) told customers in Europe it cannot guarantee gas supplies because of "extraordinary" circumstances, according to a letter seen by Reuters. Expectations for an increase in U.S. crude inventories also weighed on prices. A preliminary Reuters poll showed that U.S. crude and distillate supplies may have risen last week while gasoline stockpiles likely fell. Oil prices have been whipsawed between concerns about supply as Western sanctions on Russian crude and fuel supplies over the Ukraine conflict have disrupted trade flows to refiners and end-users and rising worries that central bank efforts to tame surging inflation may trigger a recession that would cut future fuel demand. "Prices climbed aggressively as the tight state of affairs on the supply front shifted back into the spotlight," Stephen Brennock from brokerage PVM said. U.S. President Joe Biden visited top oil exporter Saudi Arabia last week, hoping to strike a deal on an oil production boost to tame fuel prices. However, officials from Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC), did not give clear assurances an output increase was secured. The kingdom's foreign minister said on Tuesday that he saw no shortage of oil in the market, but a lack of oil refining capacity, making it necessary to invest more in capacity to process crude oil into various oil products. "As of today, we don't see a lack of oil in the market. There is a lack of refining capacity, which is also an issue, so we need to invest more in refining capacity," Foreign Minister Prince Faisal bin Farhan Al Saud told reporters in Tokyo. Oil prices were backed by a softer U.S. dollar on Tuesday, which stood around a one-week low, making greenback-dominated oil slightly cheaper for buyers holding other currencies.

150 Replies 6 πŸ‘ 11 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Stephanie Kelly and Muyu Xu (Reuters) -Oil rose slightly on Tuesday, paring earlier losses and after soaring by more than $5 barrel in the previous session, amid concerns about tight supply. Brent crude futures for September settlement gained 17 cents to $106.51 a barrel by 0645 GMT. The contract rose 5.1% on Monday, the biggest percentage gain since April 12. WTI crude futures for August delivery rose by 36 cent to $102.96 a barrel. The contract climbed 5.1% on Monday and the largest percentage gain since May 11. The August WTI contract expires on Wednesday and the more actively traded September future was at $99.74 a barrel, up 32 cents. Oil prices have been whipsawed between concerns about supply as Western sanctions on Russian crude and fuel supplies over the Ukraine conflict have disrupted trade flows to refiners and end-users and rising worries that central bank efforts to tame surging inflation may trigger a recession that would cut future fuel demand. The underlying supply/demand imbalance is as tight as ever," said Jeffrey Halley, senior market analyst at OANDA, in a note. "Oil prices may have peaked, but they certainly don't look like they're going materially lower from here unless we get a huge surprise from OPEC+." U.S. President Joe Biden visited top oil exporter Saudi Arabia last week, hoping to strike a deal on an oil production boost to tame fuel prices. However, officials from Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC), did not give clear assurances an output increase was secured. Warren Patterson, head of Commodities Strategy at ING, said in a note that the market has had time to digest President Biden's visit with a conclusion that it is unlikely that OPEC and its allies including Russia, known as OPEC+, will increase output more aggressively than planned in the short term. Oil prices were backed by a softer U.S. dollar on Tuesday, which stood around a one-week low level, making greenback-dominated oil slightly cheaper for buyers holding other currencies. "A weaker USD provided support to the market, along with the broader commodities complex," ING's Patterson said. The forecast of oil inventories in the U.S., the world's biggest oil consumer, was that crude and distillate supplies may have risen last week while gasoline stockpiles likely fell, according to a preliminary Reuters poll.

89 Replies 10 πŸ‘ 10 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Noah Browning LONDON (Reuters) -Oil prices extended gains on Monday, boosted by a weaker dollar and tight supplies as concerns over gas supply from Russia mounted, offsetting demand fears brought on by a possible recession and China lockdowns. Brent crude futures for September settlement rose by $2.34, or 2.3%, to $103.50 a barrel by 1235 GMT, having gained 2.1% on Friday. U.S. West Texas Intermediate (WTI) crude futures for August delivery were up $1.89, or 1.9%, at $99.48 after rising by 1.9% in the previous session. The U.S. dollar retreated from multi-year highs on Monday, supporting prices of commodities ranging from gold to oil. A weaker dollar makes dollar-denominated commodities more affordable for holders of other currencies. Both Brent and WTI last week registered their biggest weekly declines for about a month on fears of a recession that would hit oil demand. Russian gas export monopoly Gazprom (MCX:GAZP) declared force majeure on gas supplies to Europe to at least one major customer, according to the letter seen by Reuters, potentially ratcheting up the continent's supply crunch. A trading source said the letter concerned supplies through the Nord Stream 1 pipeline, a major supply route to Germany and beyond. "Brent crude will find support at the end of the week if Russia does not turn the gas back on to Germany after Nord Stream 1 maintenance," said OANDA senior analyst Jeffrey Halley. Meanwhile, mass COVID-testing exercises continue in parts of China this week, raising concerns over oil demand from the world's second-largest oil consumer. "Mounting demand concerns on another spike in COVID-19 cases in China amid a broader slowdown and resilient Russian output have weighed on oil prices recently," Barclays (LON:BARC) said in a note. "Yet we remain constructive as rerouting supplies will become harder as we inch closer to the implementation of EU sanctions." However, supplies remain tight. As expected, U.S. President Joe Biden's trip to Saudi Arabia failed to yield any pledge from the top OPEC producer to boost oil supply. Biden wants Gulf oil producers to step up output to help to lower oil prices and drive down inflation.

87 Replies 11 πŸ‘ 6 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Rowena Edwards LONDON (Reuters) - Oil prices rose on Friday after a U.S. official told Reuters an immediate Saudi oil output boost is not expected, with further support from indications that the U.S. central bank could raise interest rates less aggressively than anticipated. Brent crude futures for September delivery rose $1.77, or 1.79%, to $100.87 a barrel by 1206 GMT while WTI crude rose $1.32, or 1.38%, to $97.10. The U.S. Federal Reserve's most hawkish policymakers on Thursday said they favoured a rate increase of 75 basis points at its policy meeting this month, not the bigger increase traders had priced in after a report on Wednesday showed inflation was accelerating. The interest rate uncertainty and weak economic data led to Brent and WTI shedding more than $5 on Thursday to below the closing price on Feb. 23, the day before Russia invaded Ukraine, though both contracts clawed back nearly all the losses by the end of the session. U.S. President Joe Biden is set to land in Jeddah later on Friday, and had been expected to call for Saudi Arabia to pump more oil. But the United States does not expect Saudi Arabia to immediately boost oil production and is eyeing the outcome of the next OPEC+ meeting on Aug. 3, a U.S. official told Reuters on Friday. The comment comes at a time when spare capacity at members of the Organization of the Petroleum Exporting Countries (OPEC) is running low. Still, the U.S. could secure a commitment that OPEC will boost production in the months ahead in hopes that it will provide a signal to the market that supplies are coming if necessary. "[Biden's] case will have been weakened significantly by the latest price rout," said Stephen Brennock of oil broker PVM. Analysts expect continued pressure on oil from concerns over the global economy. "Brent has dipped noticeably below $100 per barrel this week. It is likely to continue sliding given that the recession fears will presumably not abate for the time being," Commerzbank (ETR:CBKG) said in a note. Bearish market sentiment has also followed renewed COVID-19 outbreaks in China, which have hampered a demand recovery. China's refinery throughput in June shrank nearly 10% from a year earlier, with output for the first half of the year down 6% in the first annual decline for the period since at least 2011, data showed on Friday.

129 Replies 11 πŸ‘ 15 πŸ”₯

profile
@heikin_friends #decarolis
recently

WTI viola a ribasso anche in chiusura daily il livello 93.70 $ ma non sono state chiusure evidenti e significative ha aggiornato i minimi del 2" trimestre del 2022 e adesso sembrerebbe avere reazione dai suddetti minimi ma non si evidenzia ancora segni di inversione sul DHA, per come la penso io ora mi aspetto un tentativo di recupero a livello MHA del livello di apertura del corpo della candela MHA livello che se ripreso entro fine mese non convalida l' inversione di tendenza sul MHA, chiudendo invece il mese al di sotto di quel livello il WTI cambierebbe il trend da rialzista a ribassista anche sul lungo periodo

104 Replies 9 πŸ‘ 12 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Jeslyn Lerh SINGAPORE (Reuters) -Oil prices rose on Friday amid prospects of a less aggressive U.S. rate hike, although worries about a recovery in demand capped gains. Brent crude futures for September delivery rose 94 cents, or 1.0%, to $100.04 a barrel by 0630 GMT, while WTI crude rose 63 cents, or 0.7%, to $96.41 a barrel. "Oil is trading very much to the beat of Federal Reserve policy and the implications it could have on both demand destruction and the U.S. dollar," said Stephen Innes, managing partner at SPI Asset Management. "With the market falling back to base-case 75 (basis point) hike next week versus 100 (basis point) yesterday, oil prices and the broader market have a little more breathing room today," Innes said. The Fed's most hawkish policymakers said on Thursday they favoured another 75-basis-point interest rate increase at the U.S. central bank's policy meeting this month, not the bigger rate raise that traders had raced to price in after a report on Wednesday showed inflation was accelerating. The rate hike uncertainty and weak economic data pushed both oil contracts to lows on Thursday that were below the close on Feb. 23, the day before Russia invaded Ukraine in what Moscow calls "a special military operation". Still, both Brent and WTI had clawed back nearly all losses by the end of the trading session. However, concerns about the outlook for demand continue to keep a lid on oil prices. "Sentiment hasn't been helped by renewed COVID-19 outbreaks in China, which threaten to halt the recovery in demand. High prices also appear to have blunted demand for gasoline in the U.S.," ANZ Research analysts said. China's refinery throughput in June shrank nearly 10% from a year earlier, with output for the first half of the year down 6% in the first annual decline for the period since at least 2011, data showed on Friday. Meanwhile, U.S. President Joe Biden will on Friday fly to Saudi Arabia, where he will attend a summit of Gulf allies and call for them to pump more oil. However, spare capacity at members of the Organization of the Petroleum Exporting Countries is running low, with most producers pumping at maximum capacity, and it is unclear how much extra Saudi Arabia can bring into the market quickly.

87 Replies 13 πŸ‘ 10 πŸ”₯

profile
@heikin_friends #decarolis
recently

Renato viene malissimo fare analisi con il futures WTI di tradingview non mi ritornano i livelli tu con quale petrolio hai riscontrato piΓΉ affidabbile e quale broker (scusa se te lo domando ma non voglio fare una comunicazione sbagliata ) πŸ€ͺ

61 Replies 8 πŸ‘ 14 πŸ”₯

profile
@heikin_friends #decarolis
recently

FUTURE CL WTI aggiunge un altra candela rossa con le prospettive di domanda piΓΉ debboli ma rimane sopra il mega supporto 94.30 $

118 Replies 13 πŸ‘ 12 πŸ”₯

profile
@mat #FOREX
recently

wti and natgas (not good idea :-( but will be :-)

150 Replies 10 πŸ‘ 10 πŸ”₯

profile
@heikin_friends #decarolis
recently

Scorte in aumento sul WTI ( Struzzoil )

86 Replies 15 πŸ‘ 12 πŸ”₯

profile
@heikin_friends #decarolis
recently

Stessa situazione per WTI a contatto con un mega supporto e in area di prezzo antecedente allo scoppio della guerra in Ucraina

141 Replies 12 πŸ‘ 8 πŸ”₯

profile
@heikin_friends #decarolis
recently

WTI in calo anche questa inizio di sessione - 1.70 %

124 Replies 12 πŸ‘ 10 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Noah Browning LONDON (Reuters) -Oil prices fell in volatile trade on Monday, reversing most of the previous session's gains as markets braced for an expected drop in demand because of mass testing for COVID-19 in China, which outweighed ongoing concern over tight supply. Brent crude futures fell $2.08, or 1.9%, to $104.94 by 1221 GMT after climbing 2.3% on Friday. U.S. West Texas Intermediate (WTI) crude futures declined by $2.55, or 2.4%, to $102.24, paring a 2% gain from Friday. The market was rattled by news that China had discovered its first case of a highly transmissible Omicron subvariant in Shanghai and that new cases had jumped to 63 in the country's largest city from 52 a day earlier. The discovery of the new subvariant and the highest number of daily new cases in Shanghai since May could lead to another round of mass testing, which would hurt fuel demand. "The primary driver behind the move lower is the growing concerns of a global economic slowdown and with that the affordability of sustained high oil prices," Investec Risk Solutions said in a note. "The combined impact of concerns of global economic slowdown and a renewed COVID outbreak could hardly come at a worse time for oil markets." The market remains jittery about plans by Western nations to cap Russian oil prices, with Russian President Vladimir Putin warning that further sanctions could lead to "catastrophic" consequences in the global energy market. JP Morgan said the market was caught between concern over a potential halt to Russian supplies and a possible recession. "Macro risks are becoming more two-sided. A 3 million barrel per day retaliatory reduction in Russian oil exports is a credible threat and if realised will drive Brent crude oil prices to roughly $190/bbl," the bank said in a note. "On the other hand, the impact of substantially lower demand growth under recessionary scenarios would see the Brent crude oil price averaging around $90/bbl under a mild recession and $78/bbl under a scenario of a more severe downturn." Questions also remain about how long more crude will flow from Kazakhstan via the Caspian Pipeline Consortium (CPC). Supply has continued so far on the pipeline, which carries about 1% of global oil, with a Russian court on Monday overturning an earlier ruling suspending operations there.

144 Replies 14 πŸ‘ 6 πŸ”₯

profile
@heikin_friends #decarolis
recently

WTI apre la settimana in calo e ora perde il - 2.35 %

145 Replies 15 πŸ‘ 11 πŸ”₯

profile
@mat #FOREX
recently

oil wti: risky business 4 out and new buy limits

137 Replies 10 πŸ‘ 7 πŸ”₯

profile
@heikin_friends #decarolis
recently

Accellera a ribasso anche il WTI e viola il livello di supporto intermadio di 98.92 . La linea trattegiata azzurra Γ¨ il livello del 23 02 2020 scoppio della guerra in Ucraina

82 Replies 15 πŸ‘ 15 πŸ”₯

profile
@heikin_friends #decarolis
recently

WTI prosegue la corsa a ribasso dopo la candela rossa HA di fine mese di giugno ieri si Γ¨ fermato il movimento ribassista sul livello intermedio di supporto del mese di maggio ma il vero supporto anche trimestrale Γ¨ quello a 95.600 $

70 Replies 15 πŸ‘ 12 πŸ”₯

profile
@heikin_friends #decarolis
recently

WTI -10.30 %

91 Replies 12 πŸ‘ 7 πŸ”₯

profile
@marketjay #Market Assassin Corp
recently

WTI just fell under $100

138 Replies 14 πŸ‘ 13 πŸ”₯

profile
@mat #FOREX
recently

it will be time to buy oil wti tp 113+ ?

105 Replies 12 πŸ‘ 9 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Bozorgmehr Sharafedin LONDON (Reuters) -Brent oil slipped on Tuesday as concerns of a possible global recession curtailing demand outweighed supply disruption fears, highlighted by an expected production cut in Norway. Brent crude was $1.33, or 1.2%, lower at $112.17 a barrel by 1231 GMT, while U.S. West Texas Intermediate (WTI) crude rose 30 cents, or 0.3%, to $108.73 a barrel from Friday's close. There was no settlement for WTI on Monday because of the U.S. Independence Day public holiday. Investors are becoming more concerned as the latest surge in gas and fuel prices adds to worries about recession. "Oil is still struggling to break out from its current recessionary malaise as the market pivots away from inflation to economic despair," Stephen Innes of SPI Asset Management wrote. In the euro zone, data showed business growth across the bloc slowed further last month, with forward-looking indicators suggesting the region could slip into decline this quarter as the cost of living crisis keeps consumers wary. And in South Korea, inflation hit a near 24-year high in June, adding to concerns of slowing economic growth and oil demand. Yet supply concerns still linger and earlier in the session WTI rose more than $3 and Brent more than $1 on potential output disruption in Norway, where offshore workers began a strike that will hit output. The strike is expected to reduce oil and gas output by 89,000 barrels of oil equivalent per day (boepd), of which gas output makes up 27,500 boepd, Norwegian producer Equinor has said. "Oil prices are ... benefiting from the strike in Norway, so far impacting only modest volumes, and the sharp increase in Saudi official selling prices for August, suggesting that Saudi exports might not increase that much next month," UBS analyst Giovanni Staunovo said. Saudi Arabia, the world's top oil exporter, raised August crude oil prices for Asian buyers to near record levels amid tight supply and robust demand. Meanwhile, Russia's former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to significantly less oil on the market and could push prices above $300-$400 a barrel. G7 leaders agreed last week to explore the feasibility of introducing temporary import price caps on Russian fossil fuels, including oil, in an attempt to limit resources to finance Moscow's "special military operation" in Ukraine

149 Replies 12 πŸ‘ 6 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Noah Browning LONDON (Reuters) -Oil rose on Monday as supply concerns driven by lower OPEC output, unrest in Libya and sanctions on Russia outweighed fears of demand-sapping global recession. Euro zone inflation hit yet another record high in June, strengthening the case for rapid European Central Bank rate increases, while U.S. consumer sentiment hit a record low. Brent crude rose $1.55, or 1.4%, to $113.18 a barrel by 1318 GMT after falling more than $1 in early trade. U.S. West Texas Intermediate (WTI) crude rose $1.34, or 1.2%, to $109.77. The Organization of the Petroleum Exporting Countries (OPEC) missed a target to boost output in June, a Reuters survey found. [OPEC/O] In OPEC member Libya, authorities declared force majeure at Es Sidr and Ras Lanuf ports as well as the El Feel oilfield on Thursday, saying oil output was down by 865,000 barrels per day (bpd). Meanwhile, Ecuador's production has been hit by more than two weeks of unrest that has caused the country to lose nearly 2 million barrels of output, state-run oil company Petroecuador said. Adding to potential supply woes, a strike this week in Norway could cut supply from Western Europe's largest oil producer and cut overall petroleum output by about 8%. "This backdrop of mounting supply outages is colliding with a possible shortage in spare production capacity among Middle Eastern oil producers," said Stephen Brennock of oil broker PVM, referring to the limited ability of producers to pump more oil. "And without new oil production hitting markets soon, prices will be forced higher." Brent came close this year to the 2008 record high of $147 a barrel after Russia's invasion of Ukraine added to supply concerns. Soaring energy prices on the back of bans on Russian oil and reduced gas supply has driven inflation to multi-decade highs in some countries and stoked recession fears.

95 Replies 10 πŸ‘ 6 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Ahmad Ghaddar LONDON (Reuters) -Oil prices rose about 3% on Friday, recouping most of the previous session's declines, as supply outages in Libya and expected shutdowns in Norway outweighed expectations that an economic slowdown could dent demand. Brent crude futures were up $3.03, or 2.8%, at $112.06 a barrel by 1157 GMT, having dropped to $108.03 a barrel earlier in the session. WTI crude futures gained $2.84, or 2.7%, to $108.60 a barrel, after retreating to $104.56 a barrel earlier. Both contracts fell around 3% on Thursday, ending the month lower for the first time since November. We "still see risks to prices as skewed to the upside on tight inventories, limited spare capacity and muted non-OPEC+ supply response," Barclays (LON:BARC) said in a note. Libya's National Oil Corporation declared force majeure on Thursday at the Es Sider and Ras Lanuf ports as well as the El Feel oilfield. Force majeure is still in effect at the ports of Brega and Zueitina, NOC said. Production has seen a sharp decline, with daily exports ranging between 365,000 and 409,000 bpd, a decrease of 865,000 bpd compared to production in "normal circumstances", NOC said. Elsewhere, 74 Norwegian offshore oil workers at Equinor's Gudrun, Oseberg South and Oseberg East platforms will go on strike from July 5, the Lederne trade union said on Thursday, likely halting about 4% of Norway's oil production. Ecuador's government and indigenous groups' leaders on Thursday reached an agreement to end more than two weeks of protests which had led to the shut-in of more than half of the country's pre-crisis 500,000 bpd oil output. On Thursday, the OPEC+ group of producers, including Russia, agreed to stick to its output strategy after two days of meetings. However, the producer club avoided discussing policy from September onwards. Previously, OPEC+ decided to increase output each month by 648,000 barrels per day (bpd) in July and August, up from a previous plan to add 432,000 bpd per month. U.S. President Joe Biden will make a three-stop trip to the Middle East in mid-July that includes a visit to Saudi Arabia, pushing energy policy into the spotlight as the United States and other countries face soaring fuel prices that are driving up inflation. Biden said on Thursday he would not directly press Saudi Arabia to increase oil output to curb soaring prices when he sees the Saudi king and crown prince during a visit this month. A Reuters survey found that OPEC pumped 28.52 million bpd in June, down 100,000 bpd from May's revised total. [OPEC/O] Oil prices are expected to stay above $100 a barrel this year as Europe and other regions struggle to wean themselves off Russian supply, a Reuters poll showed on Thursday, though economic risks could slow the climb. India introduced export duties on gasoil, gasoline and jet fuel on Friday to help maintain domestic supplies, while also imposing a windfall tax on oil producers who have benefited from higher global crude oil prices.

116 Replies 8 πŸ‘ 9 πŸ”₯

profile
@heikin_friends #decarolis
recently

WTI oggi in rialzo del 1.90 % apre il MHA con una dogj sul WHA rimane in rosso e sul daily ieri ha confermato la rossa HA e se non sbaglio va per una conferma sul 30 minuti a ribasso

148 Replies 11 πŸ‘ 15 πŸ”₯

profile
@heikin_friends #decarolis
recently

WTI accellera a ribasso ma faccio presente che sul WHA aveva giΓ  dato segno di ribasso lo aspetta il supporto a 105.600 ricordo che domani comincia il terzo trimesre ( LUGLIO-AGOSTO-SETTEMBRE )

67 Replies 6 πŸ‘ 10 πŸ”₯

BI
@bigbofh #FOREX
recently

| WTI | H1 Profit:Risk - 3:1 SELL-Limit: 107.95650 , SL: 108.65 , TP: 106.01 | USDJPY | H1 Profit:Risk - 3:1 BUY-Limit: 136.24451 , SL: 136.13 , TP: 136.56

140 Replies 12 πŸ‘ 9 πŸ”₯

profile
@heikin_friends #decarolis
recently

WTI verso la conferma di una candela daily HA, ma sul settimanale incorporato dentro il grafico giornaliero HA Γ¨ rosso, premessa la chiusura di oggi potrebbe essere presa in considerazione anche come resistenza su base settimanale quindi da valutare il comportamento del prezzo su tale livello .

97 Replies 13 πŸ‘ 15 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Kevin Buckland and Sam Byford TOKYO (Reuters) - Shares rose broadly across Asia on Monday, building on morning gains and a Friday Wall Street rebound as sentiment improved and oil prices steadied, tempering fears of prolonged inflation. Treasury yields remained subdued and the dollar hovered near the lowest in more than a week as investors continued to assess the outlook for U.S. rate hikes, and the potential for a recession. Japan's Nikkei rallied 1.51%, while Australia's benchmark jumped 2.03% and looked set for its best day in more than six weeks. Chinese blue chips rose 1.17% and Hong Kong's Hang Seng advanced 2.39%. South Korea's KOSPI gained 1.83%. MSCI's broadest index of Asia-Pacific shares rose 1.81%. U.S. stock futures are up slightly by 0.8% after falling earlier in the day. On Friday, the S&P 500 surged more than 3%, adding to an almost 1% gain on Thursday. FTSE futures and EUROSTOXX 50 futures both rose 0.45% ahead of the start of European market trading. "I don't think anyone's got any smoking guns for this market right now," said Chris Weston, head of research at Pepperstone. "If you're looking for proper risk-on, all markets moving the same direction, correlation across asset classes going to 1, we’re not seeing that today." "The Aussie's the worst performer, the yen's the best performer, you're not seeing much love in crypto, there's no real move in the energy space. It's more of an equities story today." Crude oil fell in volatile trading on Monday as the market grapples with concerns that a global economic slowdown could depress demand versus worries about lost Russian supply amid sanctions over the Ukraine conflict. Both Brent and U.S. West Texas Intermediate (WTI) futures were flat on the day after back-and-forth trading in the morning. Brent is up 0.1% at $113.2 a barrel, while WTI fell 0.01% to $107.63. U.S. long-term Treasury yields hovered around 3.16% after bouncing off a two-week low just above 3% at the end of last week as traders removed bets for hikes next year, but still pondered if aggressive tightening this year could trigger a recession. Yields have dropped from 3.456%, the highest in more than a decade, reached before the mid-month Fed meeting. Then, the central bank hiked rates by 75 basis points, the biggest increase since 1994, and signalled that a similar move is possible in July. "The market remains focused in the trade-off between the policy response to high inflation and fears of a hard landing," Westpac rates strategist Damien McColough wrote in a client note. "There will be ongoing discussions as to whether long-end yields have peaked, however we would not yet expect 10-year yields to fall materially or sustainably below 3%." The dollar was steady on Monday, continuing to consolidate near the lowest since the middle of the month against major peers. The dollar index - which measures the currency versus six rivals - was little changed at 103.950, after gradually gravitating over the past few sessions toward the June 17 low of 103.83. Gold ticked 0.49% higher to $1,835.16 per ounce. Bitcoin was flat, trading at $21,170.88 after falling as low as $17,588.88 earlier this month.

86 Replies 9 πŸ‘ 14 πŸ”₯

TR
@trademaster #TradeHouses
recently

By Alex Lawler LONDON (Reuters) - Oil rose by more than $1 a barrel on Friday supported by tight supply, although crude was heading for a second weekly fall on concern that rising interest rates could push the world economy into recession. U.S. Federal Reserve Chair Jerome Powell said on Thursday the central bank's focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes that have weighed on financial markets. Brent crude was up $1.22, or 1.1%, at $111.27 a barrel by 1333 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.94, or 1.9%, to $106.21. Both benchmarks were heading for a second weekly decline. "Increasing recession fears appear to be prompting a culling of heavy speculative long positioning in both contracts, even as in the real world, energy tightness is as real as ever," said Jeffrey Halley, analyst at brokerage OANDA. Oil came close this year to an all-time high of $147 reached in 2008 as Russia's invasion of Ukraine exacerbated tight supplies just as demand has been recovering from the COVID pandemic. Crude has gained support from the almost total shutdown of output in OPEC member Libya due to unrest. The Libyan oil minister said on Thursday the National Oil Corporation chairman was withholding production data from him, raising doubts over figures he issued last week. Stephen Brennock of oil broker PVM said recession fears dominated sentiment, adding: "That being said, the consensus remains that the oil market will see high demand and tight supply over the summer months, thereby limiting the downside." The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, meet on June 30 and are expected to stick to an earlier plan to accelerate slightly hikes in oil production in July and August, rather than provide more oil. The latest U.S. oil inventory figures, which will give a snapshot of supply tightness in the top consumer, have been delayed to next week.

77 Replies 8 πŸ‘ 9 πŸ”₯

Key Metrics

Market Cap

785.92 M

Beta

0.89

Avg. Volume

4.36 M

Shares Outstanding

143.15 M

Yield

0%

Public Float

0

Next Earnings Date

2022-11-01

Next Dividend Date

Company Information

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. The Company currently has working interests in 43 producing fields in federal and state waters and has under lease approximately 737,000 gross acres, including approximately 527,000 gross acres on the Gulf of Mexico Shelf and approximately 210,000 gross acres in the Gulf of Mexico deepwater. A majority of the Company's daily production is derived from wells it operates.

CEO: Tracy Krohn

Website:

HQ: 9 Greenway Plz Ste 300 Houston, 77046-0908 Texas

Related News