• The Crude Chronicles – Episode 44

    Weakening Risk Sentiment Subdues Oil Recovery The CFTC COT report for the week through June 15th shows that the net long position saw a reduction of 21, 637 contracts, taking the total position to 546,272 contracts. This latest adjustment in WTI positioning reflects the return of fresh risk factors over recent weeks which have created […]

  • The Crude Chronicles – Episode 43

    Risk Sentiment Recovers, Helping Oil Prices WTI prices have seen a week of much reduced volatility with the market trading a subdued $5 dollar range over the week. Despite the lack of volatility, the market is at least on course to end the week in the green currently as the broad rebound in risk sentiment […]

  • The Friday Forex Takeaway – Episode 38

    Key Points from This Week Fed Delivers Warning Message At the June FOMC this week, the Fed held its monetary policy at current levels. However, the statement and comments following the meeting were decidedly dovish with Fed chairman Powell warning the markets that the economic recovery from the covid-19 crisis would not be quick or […]

  • The Crude Chronicles – Episode 42

    Stifled Action Despite Important Developments It’s been an interesting week for oil albeit a somewhat frustrating once as despite some key developments we haven’t seen much market movement. OPEC+ agreed to extend the current production cuts by a further month at a special meeting held this week. The extension was well signalled and did little […]

  • The Crude Chronicles – Episode 41

    Mixed EIA Report WTI prices were seen extending their recent rally this week as global investor appetite continued to improve despite the ongoing unrest in the US. Oil prices have seen steady buying over recent weeks as global stay-at-home measures have continued to be reduced. With many economies making firm tracks towards full reopening, the […]

  • The Crude Chronicles – Episode 40

    Rising Risk Factors Blunt Recovery Optimism The crude oil market has retreated lower again this week following initial strength. Firmer risk sentiment at the start of the week, in response to optimistic reports of the work underway to develop a COVID-19 vaccine, had helped lift oil prices which have been higher over recent weeks as […]

  • The Friday Forex Takeaway – Episode 35

    Key Points From This Week Trump Steps Up Rhetoric Against China The ongoing tensions between the US and China dominated the early part of the week with Trump stepping up threats against the world’s second-largest economy over its alleged role in the COVID-19 outbreak. Trump has threatened china with the cancellation of the current trade […]

  • The Crude Chronicles – Episode 39

    Oil Demand Continues To Rise The oil market has seen a further recovery this week amidst a broad pickup in risk sentiment as global stay-at-home measures continue to ease. Parts of America have been re-opening over recent days as well as some European countries, fuelling hopes of a return to normality as more businesses begin […]

  • The Friday Forex Takeaway – Episode 34

    Key Points from This Week RBNZ Signals Negative Rates Likely The RBNZ increased the size of its QE program at its May monetary policy meeting this week by nearly double from $33 billion to $60 billion. Warning over the continued impact of the global economic downturn the RBNZ also warned that negative rates could be […]

  • The Crude Chronicles -Episode 38

    Oil Recovery Rally Loses Steam The oil market has seen a week of heavily reduced volatility compared with  price movements registered over the prior weeks. In the aftermath of the heavy selling which rocked the market just three weeks ago, WTI has since recovered and traded higher, reversing some of these losses. However, the recovery […]

  • The Crude Chronicles – Episode 37

    Recovery Rally Marches On The CFCT COT position report showed that investors increased their net long exposure by 35% last week, with the total upside position rising to a fresh 16 week high. Long positions have been building steadily following the explosive rout seen at the end of April when the continuous futures contract dropped […]

  • The Crude Chronicles – Episode 35

    Negative Oil Prices Crude oil prices have seen record moves this week as the capitulation in concerns for the demand outlook resulted in a downside shock with prices breaking below $0 for the first time on record. Printing lows of -$37.63 on Monday at the worst of the decline. The dramatic sell-off comes on the […]

  • The Crude Chronicles – Episode 32

    Oil Demand Cratering The WTI markets has seen another round of selling this week as the global situation continues to draw concern for the demand outlook. The rebound in risk assets over the prior week has stalled this week as news of a soaring US death toll, and expectations of an extension to the lockdown […]

  • The Crude Chronicles – Episode 30

    WTI long Positions Reduced Again The CFTC COT positioning report showed that net long positions in WTI crude dropped by 972 contracts last week to 387,397 contracts in total. The move was the result of a 24,635 contract short position which overtook the 23,663 contract long position. WTI prices have seen a steady cascade lower […]

  • The Crude Chronicles – Episode 29

    The latest CFTC COT positioning report showed that net long positions in WTI crude were reduced by 43,097 contracts last week taking the total position to 388,369 contracts. It is safe to say that this reduction will have no doubt been amplified over recent days in light of the developments we have seen. COVID-19 Recession […]