Latest news with #Crude
Business Insider
5 days ago
- Business
- Business Insider
BP,CVX,SHEL: Oil Stocks Drop Despite Prices Surging on Trump Trade Talks
Oil prices were higher in early trading today as progress in U.S. trade deals dampened fears of a global economic meltdown. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Total Fallout Brent crude futures, the international standard, gained 0.6% to trade at $68.90 per barrel in early trading, while West Texas Intermediate futures climbed by the same margin to $65.67 a barrel. However, the move upwards did little to boost oil stocks with BP (BP) down 0.4%, Chevron (CVX) off 0.3% and Shell (SHEL) down 0.4% in pre-market trading. Weighing on investor sentiment were Q2 results from TotalEnergies (TTE) which reported a drop in profits and revenues and issued a warning over a glut in oil supply. This, it said, was down to the unwinding of production cuts by cartel OPEC+ and weak demand from a global economic slowdown. The uptick in prices today may be the beginning of better news for the sector. Sentiment has been helped by recent U.S. trade deals with Japan and Indonesia as well as stronger optimism on a potential deal with the EU. That comes after a volatile period for oil prices, as can be seen with U.S. Crude below, because of tariff fears. Price Flow 'Buying was driven by optimism that progress in tariff negotiations with the U.S. would help avoid a worst-case scenario,' said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities. 'Still, uncertainty over U.S.-China trade talks and peace negotiations between Ukraine and Russia is limiting further gains.' He believes that the WTI price will likely remain range-bound between $60 and $70. That's a common view among analysts who have previously stated that a 'geopolitical premium' on the oil price is likely to keep the Brent price above $65. The premium refers to the continued uncertainty over conflicts in Ukraine and the Middle East. We have rounded up the best oil stocks to buy using our TipRanks comparison tool.
Observer
22-07-2025
- Business
- Observer
Geopolitical Uncertainty: Oil prices stable, gold prices rise
Muscat: Oil prices remained largely stable on Monday, with Crude trading at $68.60 and WTI at $65.85, balancing new European sanctions targeting Russian oil with concerns that escalating tariffs could stifle fuel demand, even as OPEC producers increase output. The EU's 18th sanctions package aims to cut Russia's oil revenues by banning imports of petroleum products refined from Russian crude, even when processed in third countries like India, and imposing a dynamic price cap, according to Vijay Valecha, chief investment officer, Century Financial. Despite these measures, prices haven't sharply fallen, partly due to ongoing geopolitical factors, shifting trade routes, and market uncertainties, including U.S.-China trade talks and supply disruptions like Canadian wildfires. Adding to the complexity, US President Donald Trump has threatened sanctions on Russian oil buyers and new tariffs on the EU, while upcoming Iran nuclear talks further cloud the future supply outlook, creating a tug-of-war between bearish pressures from increased supply and demand worries and bullish risks from sanctions and other uncertainties. Gold is up by about 0.55% today. From a fundamental standpoint, the ongoing episode over central bank independence and policy direction triggered safe-haven buying last week. Although the momentum seems to have faded, the tensions remain. Gold prices in Oman 24k - RO42.500 22k- RO39.750 18k- RO31.400 From a technical standpoint, the commodity is trading at the neckline of an ascending triangle formation, with a price mark of $3,364-$3,374. A break above the $3,374 price mark signals the bullish trend, with targets extending towards $3,436. On the contrary, a break of the trendline support connecting the lows of $2,832 on 28th February, $2,956 on 7th April, $3,247 on 30th June, $3,282 on 9th July, and $3,309 on 17th July triggers a bearish trend. The nearest support levels are at $3,345, followed by $3,331
Yahoo
16-07-2025
- Business
- Yahoo
Oil Ticks Higher as Traders Focus on Signs of Market Tightness
(Bloomberg) -- Oil ticked higher after a two-day drop, as traders assessed signs of near-term market strength ahead of US inventory figures. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say Brent rose toward $69 a barrel, while West Texas Intermediate was near $67. Crude's near-term market structure continues to point to tightness. Brent's prompt spread — the difference between its two nearest contracts — remains more than 90 cents a barrel in backwardation, a pattern that shows traders need to pay a premium to secure more immediate supply. Meanwhile, a US industry estimate showed a small build in nationwide crude inventories, with official data due later Wednesday. Traders are likely to pay close attention to shifts in distillates — a category that includes diesel — with holdings recently touching their lowest level since 2005. Oil has gained ground so far in July, after rising in May and June. The advance has come despite market jitters triggered by US President Donald Trump's aggressive bid to reshape the global trading system, as well as a series of output hikes from OPEC+. Earlier this week, Goldman Sachs Group Inc. raised its Brent forecast for this half, although it remained cautious about 2026. 'In the very near term, price risks for crude still point higher,' said Robert Rennie, head of commodity and carbon research at Westpac Banking Corp., adding that initial signs are showing that global crude inventories are increasing again on increased production. 'Thus we see the inventory story weighing on prices, adding to the 'cap' on Brent above the $70 level.' While global crude inventories have been swelling in recent months, the bulk of the accumulation has come in markets that have relatively little impact on futures prices, according to Morgan Stanley. 'The Brent futures curve remains firmly in backwardation across the first four-to-six months — a structure that usually points to market tightness,' analysts including Martijn Rats said in a note, which highlighted what they described as an uneven distribution of inventory increases. 'The builds have been in the Pacific, but Brent is priced in the Atlantic,' they said. --With assistance from Yongchang Chin. Forget DOGE. Musk Is Suddenly All In on AI Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Hims Became the King of Knockoff Weight-Loss Drugs The New Third Rail in Silicon Valley: Investing in Chinese AI How Starbucks Is Engineering a Turnaround With Warm Vibes and Cold Foams ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
16-07-2025
- Business
- Yahoo
Oil Ticks Higher as Traders Focus on Signs of Market Tightness
(Bloomberg) -- Oil ticked higher after a two-day drop, as traders assessed signs of near-term market strength ahead of US inventory figures. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say Brent rose to $69 a barrel, while West Texas Intermediate was near $67. Crude's near-term market structure continues to point to tightness. Brent's prompt spread — the difference between its two nearest contracts — remains more than 90 cents a barrel in backwardation, a pattern that shows traders need to pay a premium to secure more immediate supply. Meanwhile, a US industry estimate showed a small build in nationwide crude inventories, with official data due later Wednesday. Traders are likely to pay close attention to shifts in distillates — a category that includes diesel — with holdings recently touching their lowest level since 2005. Oil has gained ground so far in July, after rising in May and June. The advance has come despite market jitters triggered by US President Donald Trump's aggressive bid to reshape the global trading system, as well as a series of output hikes from OPEC+. Earlier this week, Goldman Sachs Group Inc. raised its Brent forecast for this half, although it remained cautious about 2026. 'In the very near term, price risks for crude still point higher,' said Robert Rennie, head of commodity and carbon research at Westpac Banking Corp., adding that initial signs are showing that global crude inventories are increasing again on increased production. 'Thus we see the inventory story weighing on prices, adding to the 'cap' on Brent above the $70 level.' While global crude inventories have been swelling in recent months, the bulk of the accumulation has come in markets that have relatively little impact on futures prices, according to Morgan Stanley. 'The Brent futures curve remains firmly in backwardation across the first four-to-six months — a structure that usually points to market tightness,' analysts including Martijn Rats said in a note, which highlighted what they described as an uneven distribution of inventory increases. 'The builds have been in the Pacific, but Brent is priced in the Atlantic,' they said. Forget DOGE. Musk Is Suddenly All In on AI Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Hims Became the King of Knockoff Weight-Loss Drugs The New Third Rail in Silicon Valley: Investing in Chinese AI 'The Turbulence Is Brutal': Four Shark Tank Businesses on Tariffs ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
03-07-2025
- Business
- Economic Times
India to benefit from global manufacturing shift as China+1 strategy gains momentum: Ankur Jhaveri
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel In this edition of ETMarkets Smart Talk, Ankur Jhaveri , MD & CEO of JM Financial Institutional Securities Ltd., highlights how India stands to benefit from the evolving global manufacturing landscape, driven by the China+1 global companies look to diversify supply chains away from China, Jhaveri believes this structural shift presents a multi-year opportunity for also shares insights on key macro risks, sectoral valuations, policy expectations, and why rural consumption and domestic manufacturing are likely to be the twin growth engines in the coming quarters. Edited Excerpts –A) There has been a series of events in June that got investors glued on to emerging geopolitical dynamics. June has certainly been more nervous compared to May and immediate investment strategies seems to be rather said that it's not only geopolitical situation but also an expression of recent earning season that has impacted market volatility. Corporate commentary by large has been cautions, which has forced investors to re-calibrate their earning projects and multiples.A) Global environment continues to remain fluid since the change of US President. Tariffs, Monetary policy reaction, and geopolitical conflicts are driving market sentiments forward unfolding geopolitical events and finalisation of trade deals would be the key monitorable events from the market policy flip flops or further postponement of the tariff deadline would be negative for the US Dollar and hence should attract flows towards Emerging Markets.A) Global manufacturing is undergoing a shift, and the recent policy actions be it fiscal or monetary are all targeted towards benefiting the domestic manufacturing players have been diversifying their manufacturing capacities away from China, although other countries would also benefit from this shift, India too stands to gain. This is a multiyear theme and companies in the manufacturing supply chain will be the in the immediate near term we see that the conditions are aligned in favour of consumption. Easy monetary policy, Favourable weather conditions - onset of La-Nina condition and Fiscal measures like recent Tax exemption would all improve consumption demand in the domestic economy - especially rural.A) Geopolitical conflicts seem to be broadening with every passing day, its impact on crude oil depends on the incremental steps taken by these countries in be specific, the entry of US in the Iran-Israel conflict complicates the issue further, the extent of retaliation by Iran will have serious implications on Crude oil price. Brent crude price is already up 22.9% in June, Iran's decision to block the Strait of Hormuz would further fuel the imports form one fourth of India's total imports and out of 5.5 Mn Barrels per day (bpd) imports of crude oil currently, 2 Mn bpd is sourced through the Strait of its impact could be cushioned meaningfully if crude oil imports are diversified from Russia, which does not use this corridor to supply oil. We believe that proactive monetary and fiscal policies should support growth in the current fiscal, hence 6.5% growth seems achievable which should reflect in corporate earnings as well.A) Banks provide margin of safety on the valuation front, while other sectors appear to be fully priced or trade above the historical valuation should not be the only criteria in an investment decision, considering the global uncertainty in which these businesses are believe bottom up approach would be suitable in current macro environment, companies with decent earnings visibility trading at reasonable valuation would be preferred.A)It is worth highlighting that the comfortable inflation trajectory has allowed the global central banks to ease policy rates. However, it is the tariffs and the related disruption which would decide the inflation path going forward, especially in the US.A) The domestic inflation trajectory is expected to remain comfortable in the near term, which would allow the RBI to focus on growth, the governor indicated that the central bank is targeting a potential growth rate of 8%.Moreover, Governor Malhotra recently hinted that if the inflation outlook turns out to be below RBI's projection, it will open up more room for policy according to us is preparing the markets for more policy easing, however at this juncture we believe that the space for incremental policy easing if any would be restricted to the recent front-loading of rate cuts, we believe that RBI intended to deliver a positive shock to the economy which would eventually fasten the rate transmission, the advance announcement of the CRR cut was to cushion the Banking NIMs to some believe that a pickup in consumption is imminent once global shock settles and impact would be visible with a lag of a quarter or two.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
