>Oils update: Oil - WTI (AUG) 75.85 -0.48% Oil - WTI (JUN) 76.4 -0.48% Oil - Brent (NOV) 78.41 +0% Oil - Brent (JUL) 79.95 -0.49% Gasoline 2.5118 -0.66% London Gas Oil 690 -0.55% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-30 ^18:49:44 ^EDT-0400

>Energy update: Oil - WTI (undated) 76.67 -0.49% Oil - Brent (undated) 80.09 -0.67% Natural Gas 2.299 -5.59% Heating Oil 2.4177 -1.24% Gasoline 2.5664 +0.21% London Gas Oil 703 -1.39% Carbon Emissions 9358 -1.96% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-26 ^11:05:26 ^EDT-0400

>Oils update: Oil - WTI (AUG) 76.63 +0.2% Oil - WTI (JUN) 77.26 +0.19% Oil - Brent (JUN) 80.86 +0.08% Oil - Brent (JUL) 80.7 +0.09% Gasoline 2.5677 +0.27% London Gas Oil 714 +0.08% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-25 ^21:04:25 ^EDT-0400

>WTI Oil Drops 2.3% to $76.98; Would Be Lowest Settle Value Since March 31

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-04-25 ^10:14:59 ^EDT-0400

>Oils update: Oil - WTI (AUG) 78.42 +0.27% Oil - WTI (JUN) 78.96 +0.27% Oil - Brent (JUN) 82.89 +0.21% Oil - Brent (JUL) 82.7 +0.22% Gasoline 2.62 +0.26% London Gas Oil 735 +0.12% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-24 ^21:43:33 ^EDT-0400

>WTI Crude-Oil Sheds Declines, Climbs 1.2% to $78.81 a Barrel

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-04-24 ^10:29:08 ^EDT-0400

>Oils update: Oil - WTI (AUG) 76.66 -0.9% Oil - WTI (JUN) 77.17 -0.94% Oil - Brent (JUN) 80.96 -0.89% Oil - Brent (JUL) 80.77 -0.88% Gasoline 2.5502 -1.22% London Gas Oil 717 -0.57% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-23 ^22:50:52 ^EDT-0400

Norway is a country. Alberta is not.

Norway’s oil is not super difficult to extract. Albertas is difficult to extract.

Norway has access to international markets and pricing. Alberta does not have direct access to ports and is subject to lower WTI pricing.

> Does anyone know how to confirm, visualize and/or quantify the roll yield in a futures ETF like Ipath OIL?

I use tradingview, for WTI crude, you would use symbol USOIL for the continuous spot price. If you compare USOIL to ETF OIL or USO, a spread forms after March of last year where USO and OIL outperformed due to the positive roll yield from backwardation. I didn't really dig deep into the contracts and rolling schedules for OIL or USO, but it seems like there is very little to no difference between the 2 post-2020 crash. To quantify the exact roll yield is a lot more complicated, especially since USO for example holds the next 7 futures contracts at different weights with different amounts of backwardation. It's also not guaranteed as you get the outperformance only if backwardation is sustained. Using CME's quotes, it seems like the yearly roll yield is about 3%, as long as the backwardation structure is sustained. However this changes by the day, as a backwardated oil market can become looser and futures turn into a contango structure before you get the 3%.

>Oils update: Oil - WTI (AUG) 76.58 -0.11%
Oil - WTI (JUN) 77.3 -0.13%
Oil - Brent (JUN) 80.99 -0.14%
Oil - Brent (JUL) 80.73 -0.1%
Gasoline 2.5696 +0.17%
London Gas Oil 719 +0.04% > #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-20 ^23:49:19 ^EDT-0400

80$ WTI is a near perfect price for OPEC, do you think 120$ wti would be sustainable for them? At 80$ everyone is chill and O&G prints FCF. Long Oil equities here

>WTI Oil Stays Lower, Down 1.8% at $79.44 After Unexpected Rise in U.S. Gasoline Inventories

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-04-19 ^10:33:41 ^EDT-0400

Western select, WTI and Brent aren’t even the same type of oil.

Looks like it happened in 2020.

This is from investopedia:

The May 2020 futures contract for a barrel of WTI sank into negative territory for the first time ever in April 2020, as oil producers desperately tried to unload crude oil into a market that was suddenly massively oversupplied.

I remember this. I think I remember buying WTI stock for just under 2 dollars.

>[My Long-Term Portfolio] I am currently long on the following assets:

1. WTI Crude Oil
2. NG Natural Gas
3. NQ Main Nasdaq 100
4. FTSE China H50

Agree. In addition to serving as a conduit for criminal transfer, you are one EMP or space weather event (or less) from never being able to reaccess it. It is backed by nothing, otherwise, there would be no 'stablecoin' where the backing is supposedly there but whose assets would clearly keep the value anchored. Tulips, SPACS, Cabbage patch kids. Maybe you can trade Bitcoin, but you are betting on sentiment and that's it. You are buying what is behind door #3, like the game show, except that you want to sell it before you open it because there is nothing back there. Anyone that thinks otherwise, including these guys that are big fans on the business channels, go on and on, when pressed, that the value is in Blockchain. OK. Not worth the market cap, sorry. There is a simple premise that should be followed. In a deflationary scenario, even assets that ARE backed by something fall precipitously, and some stay there. Bitcoin is a hustle, at least. The poor bastard that bought a barrel of WTI at 120 bucks got his oil. What will you get for your Bitcoin when you are the one at the peak? There are PLENTY of guys who worked on Wall Street that jumped off of the tops of buildings when...well, you know the ending.

We aren't even in summer yet and WTI is back above $80. Total gasoline stocks are 4.7% below where they were the first week of April 2022, and product supplied is up 5.5% from 2022. Buckle up buckaroo.

WTI breaking 90 will be cray

>WTI Oil Climbs 2% to $83.12; Would Be Highest Closing Price in Nearly 5 Months

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-04-12 ^12:15:27 ^EDT-0400

The latest inflation numbers don't take into account the rise in gas prices this month. Prior to OPEC+'s announced production cut the price of WTI oil had been down below $70bbl. It's now over $80 last I checked prompting a couple quick ups in gas prices.

I've also noticed a leveling and in some areas decrease in grocery prices. Bought bone-in ribeye steaks for $6.99lb the other day. So I'm happy.

>WTI Crude Stays Higher, Up 1.4% at $82.69 After Mixed EIA Data on U.S. Oil Inventories

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-04-12 ^10:32:54 ^EDT-0400

I have $9 WTI calls that are currently worth $0.01 for 07/21. I purchased at $0.15. Call me the ultimate regard.

It lags WTI pump won’t carry over until the next report

>OIL PRICES EXTEND GAINS; WTI FUTURES RISE BY $1 TO SESSION HIGH OF $82.77/BBL

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-04-12 ^09:46:33 ^EDT-0400

needs to sustain over 82/83 wti. it's been bouncing off that for months.

Crude WTI $81 😮

>Oils update: Oil - WTI (MAY) 79.92 +0.19% Oil - WTI (JUN) 79.94 +0.19% Oil - Brent (JUN) 84.32 +0.15% Oil - Brent (JUL) 83.93 +0.14% Gasoline 2.7929 +0.34% London Gas Oil 779 +0.15% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-10 ^20:54:53 ^EDT-0400

In April of 20 when WTI hit less than $14/Bbl it was a loud shout to buy into energy. I responded, but it takes a loud shout to get me to do anything. My next moves are planned but the buy point is about 30% less than current pricing. Hopefully we never hit that buy point. I am good if we don't.

>Energy update: Oil - WTI (undated) 80.6 -0.08% Oil - Brent (undated) 84.74 -0.19% Natural Gas 2.229 +4.89% Heating Oil 2.6566 +0.39% Gasoline 2.7722 -0.56% London Gas Oil 779 +0.23% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-10 ^09:38:19 ^EDT-0400

Maybe WTI is a factor 🤔

Guy, if you're going long on oil stocks, it's really not hard to figure out.

Oil prices and recessions are cyclical and they're correlated (not necessarily causative though).

When crude drops some sectors can capture a savings on fuel, i.e transportation - which is good for their bottom line. When crude prices are high, transportation costs are high, that's passed to the consumer and so on.

Go look for the break-even points for new drills for some of the big operators. When the price drops (say for WTI) below the break-even and assuming your truly holding long, start loading up...you'll do fine.

>Energy update: Oil - WTI (undated) 80.7 -0.01% Oil - Brent (undated) 84.95 -0.02% Natural Gas 2.157 -2.75% Heating Oil 2.6756 -1.55% Gasoline 2.7942 -0.45% London Gas Oil 783 -1.25% Carbon Emissions 10552 +0.07% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-06 ^11:49:55 ^EDT-0400

You know how I know you are regarded? wti up over 10% in past 3 days and now down .7% today and you are asking why oil is dying. you def aint flairy or any other form of rich due to your expert financial analysis.

>Energy update: Oil - WTI (undated) 80.27 -0.51% Oil - Brent (undated) 84.46 -0.44% Natural Gas 2.194 +1.43% Heating Oil 2.6807 +0.86% Gasoline 2.7626 +1.39% London Gas Oil 785 +0.28% Carbon Emissions 10521 +1.54% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-05 ^10:40:20 ^EDT-0400

>WTI Oil Stays Lower, Down 0.3% at $80.51 Despite Declines in U.S. Oil and Fuel Supplies

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-04-05 ^10:34:00 ^EDT-0400

Wti comin up, headed for $85

Oil failing to break 82 wti again womp womp

Man I really hope you all got your oil calls on this little dip today. Who knows when we'll see WTI down at 80 again.

>WTI Oil Climbs 1.6% to $81.73; Would Be Highest Closing Price Since Nov. 16, 2022

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-04-04 ^09:25:11 ^EDT-0400

God Damn Oil Markets.

Late 2022 : Biden : Release more Oil from the SPR. We will refill it at around $70.

March 16 2023 : WTI falls to $65, Biden Admin - Bros, we're going to see where the prices land. This shit does not happen in a day. Banks are failing, we have bigger problems.

APR 2: OPEC - The American's aren't buying. Aren't they in an escalating conflict in with their SPR at historic lows? China hasn't reopened fully yet, but it's getting there. Our incomes could be hit in the next 2 months. Are these idiots high? Fuck this shit. Time to cut production.

Summer 2023 : Seasonally high demand, oil production cut, high gas and energy prices. Everyday consumers will once again have to pay more for gas.

Shithousery at it's finest.

Yeah, from what I can tell, March headline CPI at least is likely to be fine.

It's the future in which might be murkier, but in reality, WTI and commodities still have a long way to go before they're a worthy discussion, and really they have a long way to go and need to sustain to boot (some of the folks that were chirping with oil especially...I feel like they've forgotten where it was in the summer last year).

Yeah, even with all the hoopla we had, WTI is not at a level where it's meaningful right now ultimately.

Now maybe it gets there, but the fact that you got some major chirping from the oil bulls immediately yesterday has me doubtful. And really, we need to start with it getting over $84 and holding strong over it before we can begin to discuss this.

I am betting big on oil in the short to mid-term! Specifically undervalued WTI offshore!

https://www.reuters.com/business/energy/sarabia-other-opec-producers-announce-voluntary-oil-output-cuts-2023-04-02/

>Energy update: Oil - WTI (undated) 80.2 +5.94% Oil - Brent (undated) 84.48 +5.8% Natural Gas 2.134 -4.86% Heating Oil 2.6551 +1.46% Gasoline 2.745 +2.52% London Gas Oil 785 +2.03% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-03 ^12:10:47 ^EDT-0400

The gap will generally be bigger with higher price and tighter OPEC controls, as OPEC exports have much less influence on US prices (WTI) than on European prices (Brent).

I bought PBR.A @9.9 in early February. By late February it went down to 8.5 when WTI was 67, 15 month low. Even today it is 9.5 My only consolation is their 4Q22 dividend is $1.06. Hopefully with higher oil price I can collect 4* 1.06 = $4.24 dividend this year

80.06 May contacts

Onus is definitely more on team bear here for the first time in a while to put up the burden of proof. While it’d be stupid by me to rule a secular bear out entirely, for the time being it’s not likely to pan out here.

I’d say maybe 30% chance at most right now and even in that case, it’s likely that folks continue to feel pain for now to try to push that way.

Yes, this take is mostly not focused on macro fundamentals, which I have no trouble with admitting aren’t great, but perhaps there’s a reason for them being ignored.

There are two macro pieces that won’t be ignored if they crop up outside potential bank problems, one would be WTI finally gets into the strong uptrend team oil has been craving (which frankly, I’m still in show me mode here considering that you had oil bulls chirping immediately yesterday) and two would be if it turns out that Q1 isn’t the S&P trough for earnings (if it is, it lines up perfectly with where it bottomed, if not, then there should be more to go).

WTI is just about $80, dropped to $65 a week or two ago which is still in highly profitable territory but against the general consensus of fundamental oil demand and supply. Ive got small and mid caps making lots of money relative to their price.

But the difference between brent and wti usually sits at $5

Spot? Spot is useless for something as large as the SPR refilling. They need to take out large swaths of forward contracts, such as the below

https://www.cmegroup.com/markets/energy/crude-oil/west-texas-intermediate-wti-crude-oil-calendar-swap-futures.html

Pick any random month you want like Oct 2023 or Feb 2024. You can see that months delivery price and how it’s moved over the last few years. The price has been below $72 almost every month since October of last year…likely because the market expected that was the floor and that the Government would be buying those barrels with everything they had.

As for not selling any barrels in 2023? Try Google…..

https://www.reuters.com/business/energy/us-sell-26-mln-bbls-oil-reserves-mandated-by-congress-2023-02-13/

Looking at the WTI price history, there was one week in which prices were within their buyback price and it was two weeks ago. I'd hardly call that numerous.

But you said that they have kept releases from the SPR going like clockwork. They haven't had any releases all year.

$80 Brent, $70 WTI

It’s a position iv held for a few weeks since wti was around 66, thinly traded

No, WTI hit around $67 and the SPR wasn't filled.

The reserves were down for maintenance is what they said.

This is something only people that don't understand anything about the oil industry would say. Not all oil is equivalent. Not all refineries are equivalent. The market has found the most efficient solution and that is exporting the naphtha heavy US WTI and WTL bbls and importing heavier bbls of crude from the international market for more Jet, diesel, and asphalt (this is ab oversimplification) yield.

7:27 pm cdt and May WTI crude futures trading at $80.18. Yeah, refilling with a 6 handle is exactly what was promised. Sure.

Ah yes cutting production because they're tired of WTI and Brent being so low

Gotta make up for a it somewhere

The WTI vs. Brent spread is under $4 right now. Short on domestic oil/pipeline companies for the time.

>Energy update: Oil - WTI (undated) 81.05 +7.06% Oil - Brent (undated) 85.47 +7.04% Natural Gas 2.124 -5.31% Heating Oil 2.7188 +3.89% Gasoline 2.7809 +3.86% London Gas Oil 807 +4.89% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-04-02 ^18:52:40 ^EDT-0400

go to marketwatch.com search crude oil wti

Crude oil (WTI) up 7% on open. There is more excitement and celebration on my Twitter feed than after a certain someone got indicted a few days ago

WTI. Damn

>WTI CRUDE FUTURES OPEN UP OVER $81 BBL

^FXHedge ^@Fxhedgers ^at ^2023-04-02 ^18:01:11 ^EDT-0400

I'm curious to see if the new quarter leads to a change in leadership again, of course while there is decent fundamental reason for it to occur, considering that you have some oil bulls really chirping already without the move even happening yet in WTI/Brent...we'll see.

If it doesn't, then maybe we see 14k trade by summer on the Nasdaq and see a good bit of tears about it since it feels like folks WANT to push to the 2022-esque trade bad at times to me (which would be long oil/short everything else big time or long value/short tech stocks).

Yeah, I was saying elsewhere that my guess would be that WTI gaps up 2% or so tomorrow, but then disappoints for the oil bulls with how the year has gone for them so far in 2023.

But then I remembered that there's a CTA issue here along with there being quite a bit of shorts now. Most of the time, this is telegraphed, but this catches them off guard now and could cause quite a squeeze in oil.

This might be the major break team oil was waiting for. The only thing is, is there is still a long, long way to go for them in the short term, as to me, I need to see a strong uptrend over $80 for the narrative to start changing.

The world produces about 100 million b/d of oil. This cut represents about a 1% reduction in world production. The elasticity of demand for oil is about -0.1, so when you reduce supply 1% the resulting price fluctuation is about 10%.

Using WTI we'll call the bottom baseline at $70/b and the upper threshold at $75/b. If we assume the same will happen this time, we could expect it to reach somewhere back between $77/b and $83/b.

1 million barrels per day is nothing, watch WTI spike back up to $80 though.

And this is where I'm going to repost this:

https://twitter.com/bespokeinvest/status/1641502320029495297

I'm really not joking at all when I say underestimate the inflation comps for March-June at your own risk. For 8% inflation by August to have any shot in the US at least, you're pretty much calling for 1%+ inflation reads on a MoM basis starting in April, which is not likely unless you get WTI $120+ to trade very, very quickly (and frankly I doubt it without more than this, you likely need global tensions to spark).

These comps are just LAUGHABLY impossible.

The bear case for inflation that makes a lot more sense is just that we keep getting .5 MoM reads beginning in April (as March CPI is very likely around .2).

>[Long-term Band Period] Reference Period: Daily K to Weekly K (suitable for fund technical analysis)

WTI crude oil: Currently priced at $75.7. On the daily chart, crude oil prices rebounded strongly from oversold levels and took down the $73.5 resistance level on Thursday, recovering most of last week's losses. On the weekly chart, crude oil is still below the $79.5 resistance level and has not successfully broken through since falling below the weekly resistance line on July 16 last year. We did not take any long or short positions this week and are currently in a state of watching and waiting. Next week, we will short near the $79

In an ironic twist, here is precisely why oil is likely to continue to disappoint in 2023.

Still too many oil bulls despite the fact it's gotten bruised and battered and is a severe underperformer for 2023.

While I can't see it going too low, I have my doubts that you see WTI $100+ print this year.

(before you start...call me when WTI actually breaks and holds over $80 consistently instead of getting slapped back there)

Hmmm a couple of comments / questions on this post, OP

>Boycotting these industries may not create substantial change, as other investors may still fill the void.

Very true - I work in institutional financial advisory in the energy industry. We've seen a fuckton of institutions including in their mandates that they won't sink capital into traditional oil and gas activities.......which is fine, most public E&P's have barely increased their capital budgets for this very reason (cost of capital).

But at the same time.......that just opens the doors for private operators to spend like crazy on exploratory drilling (lookin' at you Hilcorp....)

>Investing in controversial industries contributes to the continuation of harmful practices.

True. Boycotting an industry - at the individual level - isn't going to accomplish anything other than virtue signaling (and probably poor risk-adjusted returns to boot). However, this works at the institutional level, noted above.

>Ethical investing in industries such as renewable energy and sustainable agriculture has the potential for both financial gains and positive societal impacts.

Institutions were thinking the same thing during 2021. They're pulling back now and are much more wary with management teams promising +100% unlevered IRRs by the time they're hitting runrate on ambitious, capital intensive projects

>Investors should consider the long-term consequences of supporting controversial industries, which may suffer from changing regulations and public sentiment.

True, but often times (at least in the energy transition space), I've found most retail investors are pretty clueless on the inner workings of how renewable energy companies generate cash flow and what that means to you as a provider of equity capital - e.g. knowing what a RIN or LCFS curve is and how they both move in relation to WTI/HH; how complicated financial structures work, especially when they're capitalized with pretty exotic private debt / equity instruments like convertible pref shares or using debt from any of the private credit shops out there; among other things)

>OIL PRICES EXTEND GAINS, WTI RISES $1 TO SESSION HIGH OF $74.18/BBL

^First ^Squawk ^@FirstSquawk ^at ^2023-03-30 ^10:44:46 ^EDT-0400

>WTI Oil Rises 1.6% to 2-Week-High $74.37 After EIA Reports Large Drop in U.S. Crude Inventories

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-03-29 ^10:32:59 ^EDT-0400

>Oils update: Oil - WTI (MAY) 73.77 +0.76% Oil - WTI (JUN) 73.89 +0.74% Oil - Brent (JUN) 78.55 +0.51% Oil - Brent (JUL) 78.36 +0.49% Gasoline 2.6887 +0.21% London Gas Oil 778 -0.13% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-28 ^20:21:39 ^EDT-0400

You dum dums get into oil. Wti broke thru 70 and closed above, yesterday. Section rotation back into oil.

>Oils update: Oil - WTI (MAY) 72.68 -0.22% Oil - WTI (JUN) 72.77 -0.23% Oil - Brent (JUN) 77.35 -0.46% Oil - Brent (JUL) 77.26 -0.48% Gasoline 2.6506 -0.23% London Gas Oil 784 -0.28% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-28 ^00:14:10 ^EDT-0400

Not refilling SPR while WTI Crude was below $70 tells me that they KNOW a recession is imminent and this shit is going lower

Wti broke 70. Time to go long vis-a-vis uco.

>Oils update: Oil - WTI (MAY) 69.74 +0.69% Oil - WTI (JUN) 69.88 +0.66% Oil - Brent (JUN) 75.1 +0.68% Oil - Brent (JUL) 75.01 +0.64% Gasoline 2.5632 +0.16% London Gas Oil 774 +0.53% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-26 ^18:47:10 ^EDT-0400

I think watching the markets over nvda and wti (early to middle of last year) helped me. There is no secret. Watch for dips. Make sure you have a stoploss set each time. Be willing to leave after modest gains.

Also, it didn't hurt that nvda is overpriced all year. However, I always thought that it would get back to 280 at some point this year. It seemed like investers moved their money out of the banking sector to tech towards the middle of last year.

Who knows? I am lucky, I guess.

NYMEX WTI Crude May futures settle at $69.26 a barrel, down 70 cents, 1.00%.

>Oils update: Oil - WTI (MAY) 69.62 -0.39% Oil - WTI (JUN) 69.77 -0.39% Oil - Brent (JUN) 75.15 -0.37% Oil - Brent (JUL) 75.06 -0.35% Gasoline 2.5693 -0.1% London Gas Oil 775 +0.66% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-23 ^22:30:19 ^EDT-0400

NYMEX WTI Crude May futures settle at $69.96 a barrel, down 94 cents or 1.33%.

that energy sell off crushed me wtf on wti lol

>U.S. WTI CRUDE OIL FUTURES FALL $1 TO $69.90/BBL

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-03-23 ^06:32:57 ^EDT-0400

>Oils update: Oil - WTI (MAY) 70.14 -0.96% Oil - WTI (JUN) 70.28 -0.94% Oil - Brent (JUN) 75.71 -0.8% Oil - Brent (JUL) 75.59 -0.77% Gasoline 2.5536 -0.55% London Gas Oil 779 -0.65% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-22 ^22:26:02 ^EDT-0400

>WTI Oil Stays Higher, Up 1.3% at $70.57 After Fed Raises Rates

^*Walter ^Bloomberg ^@DeItaone ^at ^2023-03-22 ^14:06:00 ^EDT-0400

>Energy update: Oil - WTI (undated) 70.38 +0.97% Oil - Brent (undated) 75.91 +0.99% Natural Gas 2.319 -5.5% Heating Oil 2.6291 +0.94% Gasoline 2.5583 +1.7% London Gas Oil 782 +0.71% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-22 ^13:36:05 ^EDT-0400

>Oils update: Oil - WTI (MAY) 69.31 -0.54% Oil - WTI (JUN) 69.45 -0.52% Oil - Brent (JUN) 74.76 -0.44% Oil - Brent (JUL) 74.66 -0.35% Gasoline 2.4997 -0.63% London Gas Oil 774 -0.32% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-21 ^20:32:56 ^EDT-0400

3/21

• Gold down $38 to $1938
• US 10-year yields up 13 bps to 3.60%
• US 2-year yields up 26 bps to 4.18%
• WTI crude oil up $1.86 to $69.33
• S&P 500 up 54 points, or 1.4%, to 4037
• EUR leads, NZD lags

Oil ready to pop WTI

>Oils update: Oil - WTI (MAY) 67.05 -1.09% Oil - WTI (JUN) 67.24 -1.11% Oil - Brent (JUN) 72.77 -1.07% Oil - Brent (JUL) 72.72 -1.01% Gasoline 2.4868 -0.9% London Gas Oil 765 -1.11% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-20 ^22:52:15 ^EDT-0400

I’m just ganna hold my WTI calls I scalped @ $0.10 07/21 and watch the world crumble as gas sky rockets again in the summer.

>Oils update: Oil - WTI (MAY) 64.83 -3.21% Oil - WTI (JUN) 65.04 -3.16% Oil - Brent (JUN) 70.61 -3.02% Oil - Brent (JUL) 70.63 -2.88% Gasoline 2.3996 -3.26% London Gas Oil 748 -2.86%

^IGSquawk ^@IGSquawk ^at ^2023-03-20 ^03:14:35 ^EDT-0400

>Oils update: Oil - WTI (MAY) 66.3 -1.02% Oil - WTI (JUN) 66.48 -1.03% Oil - Brent (JUN) 72.08 -1.01% Oil - Brent (JUL) 72.05 -0.92% Gasoline 2.4527 -1.12% London Gas Oil 760 -1.26% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-20 ^01:49:54 ^EDT-0400

>Oils update: Oil - WTI (MAY) 67.2 +0.33% Oil - WTI (JUN) 67.39 +0.33% Oil - Brent (JUN) 73.03 +0.3% Oil - Brent (JUL) 72.97 +0.34% Gasoline 2.483 +0.11% London Gas Oil 775 +0.64% #Oil #Brent #WTI #OOTT

^IGSquawk ^@IGSquawk ^at ^2023-03-19 ^19:05:17 ^EDT-0400

OPEC is the other big player. They cut at $90 WTI, correctly anticipating weaker demand than consensus. Now oil is diving into the 60s: will they cut? They seem to be worried about oil markets being too tight in the H2 of 2023. But they and IEA might be underestimating how much Russian supply gets to the market.

In the 60s WTI