Commodity Update; Crude Oil – 18 May 2015

Brent crude and WTI hold ground above $60 level as inventories drop and rig count falls further

Since our last update Brent and WTI crude have continued their ascent as inventory drawdown quickened in North America while the rig count has also fallen further.

According to Baker Hughes data the number of Shale oil rigs in North America has now fallen by 973 since last May, leaving the total number […]

Commodity Update; Crude Oil – 12 April 2015

Q1 commercial crude inventories at highest for 80 years in the US, imports rise

Since our last update, crude oil prices have held up relatively well, with Brent crude remaining comfortably above $55 and WTI crude above $47.50.

This has been despite a 2.5% increase in commercial crude oil inventories during the last 10 days, which has brought the total number of commercial barrels in storage to the highest level in […]

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Commodity Update; Crude Oil – 24 March 2015

Brent crude clings onto some of its gains as WTI heads toward new lows

Brent remains perched above the $50 per barrel level while WTI fell to new lows in March as the North American benchmark remained under pressure from high levels of oversupply.

9.8 million barrels per day were pumped in North America during the week ending 13 […]

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Commodity Update; crude Oil – 02 March 2015

Crude prices hold onto gains as rig counts fall further in North America

Since appearing to bottom at $45 (Brent) & $43 (WTI) per barrel during early January, crude oil prices have rebounded sharply to reach highs of $62 & $54 respectively.

This has been the result of reports that the rig count during January (number of active oil […]

Commodity Update, Crude Oil – 26 January 2015

Brent/WTI spread widen as Brent trades sideways and WTI remains under pressure

Crude oil spreads widened last week as the death of Saudi Arabian King Abdullah gave fleeting hope to oil speculators in Europe, while a surge in crude oil inventories in the US pushed WTI crude close to new lows at $44.00 per barrel.

The previous week also saw repeated volleys of statements released from Saudi Ministers, first in the wake of King Abdullah’s death, then as a result of appearances at […]