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Archive for March, 2016

March 31st, 2016

PVM Midday Report 31 March 2016

Headlines

Asian imports of Iranian crude oil hit two-year high of 1.28 mbpd in February
Reuters oil price poll sees Brent and WTI averaging $40.90/bbl and $39.70/bbl in 2016
Eurozone remains in deflation;…


March 31st, 2016

US commercial and crude oil stocks hit fresh highs

A mixed set of data from the EIA on US oil inventories eventually turned out to be more on the negative side. To begin with, total commercial oil inventories rose…


March 31st, 2016

Lower, but keep an eye on RBOB for guidance

Introduction.  The contracts are once again in trouble and struggling. The main prop – RBOB – fell apart yesterday afternoon and has closed below all the short term (s/t) MAs….


March 30th, 2016

PVM Midday Report 30 March 2016

Headlines

IEA chief claims Iranian crude output will rise by 500,000 bpd within one year of sanction relief
API reports smaller-than-expected US crude build; Cushing stocks draw for second week
Japanese industrial output…


March 30th, 2016

Neutral Zone production to resume gradually

If yesterday’s price action is anything to go by then one might conclude that after a two-month rally the top has been reached earlier this month and the risk is…