Oil is up again today as buyers realise just how big a week it is, Iranian elections upcoming, the Putin-Biden talks, the Fed meeting and the IEA volte face. Shell consider a sale of $10bn of Permian assets and Scirocco have made moves into the sustainable area while Challenger update on Saffron-2. Sound have done a very smart deal in Morocco and Helium One Global have started the drill bit spinning.
Oil bounces big time, both yesterday and today as President Trump talks to MbS who possibly along with Putin may cut 10-15m b/d, Opec+ announce a virtual meeting on Monday morning, but will Putin dial-in, Zoom or MS Teams it? I interviewed Angus Energy MD, George Lucan yesterday and we had an interesting chat about what is an interesting play. Finally Hunting swap their 6c final with a 3c second interim after yesterday Wood Group withdrew its announced divvi altogether.
Friday went pear shaped again as a combination of demand led factors brought oil back. Today a quick mention of Shell who have found around $10bn of cost cuts from the portfolio. Sundry companies will delay results after a request from the FCA and Petro Matad had an operations update I will talk about tomorrow after a chat with Mike Buck.
WTI $47.82 +16c, Brent $50.79 +33c, Diff -$2.97 +17c, NG $3.23 +3c Oil price So, the story goes like this, the momentum of the market is downwards it is only ...
WTI $50.44 +61c, Brent $52.51 +65c, Diff -$2.07 +4c, NG $3.05 +1c Oil price With the Opec machine working flat out to keep the kettle boiling, this time finding a ...
WTI $41.92 -$1.00, Brent $43.47 -$1.40, Diff $1.55 -40c, NG $2.67 -4c Oil price The oil price continues to drift off, with only the inventory stats seeming to influence at ...
WTI $33.27 -70c, Brent $33.75 -48c, Diff $-48c +22c, NG $2.38 +12c Oil price Further weakness in the oil price yesterday as the China crisis played on, at least the ...
WTI $34.73 -22c, Brent $36.88 -18c, Diff $2.15 -8c, NG $1.77 +1c Oil price Falls of 89c and $1.44 on the week for WTI and Brent respectively seem like quite ...
WTI $35.62 -$1.14, Brent $37.93 -$1.80, Diff $2.31 -66c, NG $1.99 -3c Oil price Its squeaky bum time in the oil industry as the crude price has fallen every day ...
WTI $41.08 +$1.14, Brent $43.84 +$1.35, Diff $2.76 +21c, NG $2.18 +2c Oil price So, it's the Opec meeting today and barring any last minute change of heart expect a ...