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July 15th, 2016

PVM Midday Report 15 July 2016

Chinese refinery crude throughputs hit record high on daily basis of 10.97 mbpd in June
BoAML sees Brent and WTI rising to $55 and $54/bbl respectively by year-end
Chinese 2Q GDP annual…


July 15th, 2016

Gasoline hangover

The world is in the midst of a gasoline glut. US inventories are at seasonally high levels and a surge in Chinese refining activity has triggered an unprecedented oversupply across…


July 15th, 2016

Recovery potential whilst RBOB is above the 5 and 8 day MAs.

Introduction.  The contracts are very well supported, for the most part, by the 100 and 200 day MAs, and the odd c/p. The crudes for example held the 100 day…


July 14th, 2016

PVM Midday Report 14 July 2016

Headlines

BoE keeps interest rates on hold at historic low of 0.5%, hints at stimulus in August
Singapore fuel oil stocks hit three-week high of 27.545 million bbls
BoJ officials quash hopes of…


July 14th, 2016

It’s products and not crude that is bearish

Looking at the latest supply/demand forecast from the IEA one has the impression that the agency is the most bullish of the three. First of all, the IEA, just like…