Latest news with #NatashaKaneva
Yahoo
13-05-2025
- Business
- Yahoo
JP Morgan Says Oil Demand in Early May 'Indicates Tepid YoY Growth'
This article was first published on Rigzone here Global oil demand in early May indicates a tepid year over year growth, analysts at J.P. Morgan, including Natasha Kaneva, Head of Global Commodities Strategy at the company, said in a research note sent to Rigzone by the JPM Commodities Research team on Thursday. 'The final figures for global liquids demand in 1Q25 aligned with our forecast, increasing by 1.6 million barrels per day year over year,' the analysts said in the note. 'Preliminary data for April indicate consumption was flat with last year's levels and 500,000 barrel per day below our expectations. The weakness appears to have extended into early May,' they added. In the research note, the J.P. Morgan analysts stated that, as of May 6, global oil demand averaged 103.5 million barrels per day. They pointed out in the note that this marked an increase of 280,000 barrels per day on year ago levels, which they said 'is nearly half of the anticipated pace of 550,000 barrels per day for the month'. 'We anticipate that oil demand will likely improve in the coming weeks as the summer driving season kicks off in the northern hemisphere,' the J.P. Morgan analysts went on to state. In the note, the J.P. Morgan analysts said that, in the first week of May, 'visible OECD commercial oil stock (including the U.S., Europe, and Singapore) reported a four million barrel decline'. The analysts noted that a six million barrel drop in oil products stocks was partially offset by a two million barrel increase in crude oil stocks. 'Globally, total liquid stocks increased by eight million barrels in the first week of May, marking seven increases over the past eight weeks,' the J.P. Morgan analysts said in the research note. 'Observable oil product stocks experienced a drawdown of three million barrels, while crude stocks rose by 11 million barrels. The continued build in crude stocks is primarily driven by a significant increase in Chinese crude stocks, which reported a 26 million barrel build,' they added. Take control of your THOUSANDS of Oil & Gas jobs on Search Now >> In a research note sent to Rigzone by the JPM Commodities Research team on April 30, J.P. Morgan analysts, including Kaneva, said 'in April, global oil demand averaged 102 million barrels per day, remaining unchanged from year ago levels, making a significant shift from the 1.7 million barrel per day growth observed in the first quarter'. 'Our estimates from the Year Ahead Outlook had projected a 500,000 barrel per day growth in oil demand for April,' they added in that research note. 'The uncertainty surrounding the economic outlook likely contributed to stalled growth,' they went on to state. In that research note, the J.P. Morgan analysts highlighted that, 'in the final week of April, visible OECD commercial oil stock (including the U.S., Europe, Japan, and Singapore) reported a marginal decline of 280,000 barrels'. The analysts said in that note that an 8.4 million barrel drop in crude oil stocks was largely offset by an 8.1 million barrel increase in product stocks. For the month of April, OECD commercial stocks rose by five million barrels, the analysts stated. 'Globally, total liquid stocks rose by 17 million barrels in April, marking the third consecutive monthly increase,' the J.P. Morgan analysts highlighted in the April 30 research note. 'However, the pace of stockpiling slowed from 44 million barrels in February and 33 million barrels in March,' they added. 'Observable oil product stocks reported a modest two million barrel increase in April, marking the first monthly build in 2025. Year to date, global liquid stocks have risen by 62 million barrels, supported by a 102 million barrel increase in crude stocks, while oil products decreased by 39 million barrels,' the J.P. Morgan analysts went on to state. To contact the author, email More From The Leading Energy Platform: Europe Has 1,700 GW of Unlinked RE, Hybrid Projects: Study Eni Offers $1B Bond North America Loses Rigs for 10 Straight Weeks President Trump Visits Saudi Arabia >> Find the latest oil and gas jobs on << 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
Yahoo
30-04-2025
- Business
- Yahoo
Oil prices post biggest monthly drop since 2021 as trade war sparks recession, demand fears
Crude oil prices capped their worst monthly drop since November 2021 as fears over a global economic downturn and demand shock as a result of tariffs come as the supply of oil is about to surge. West Texas Intermediate (CL=F) futures fell more than on Wednesday to settle at $58.21 a barrel, while Brent crude (BZ=F), the international benchmark, also dropped to close at $63.12. Oil prices sank to session lows after a Reuters report indicated OPEC leader Saudi Arabia, is willing to live with lower prices for a prolonged period, hinting a faster unwind of production cuts in order to expand market share. WTI crude oil prices have lost roughly 16% this month, while Brent crude has dropped closer to 17%. Wednesday's drop followed data that showed the US economy contracted in the first quarter for the first time in three years. Labor market data also showed slower hiring in the US than forecast, a signal that tariffs may be weighing on economic growth. Read more: What Trump's tariffs mean for the economy and your wallet These reports followed data out of China this week that showed factory activity in the country contracting at the fastest rate in over a year, stoking further worries that the US-China trade spat will hurt growth and, in turn, global oil demand. China is the world's largest crude oil importer. An hike in supply is also expected next month from the Organization of Petroleum Exporting Countries and its allies (OPEC+) led by Saudi Arabia. A recent report from Reuters suggested that another increase in production is being contemplated to take effect in June. The S&P 500 (^GSPC) has been in recovery mode in recent weeks, recovering some of its steep early April declines amid an optimistic tone from Trump officials on tariff reprieves and potential deals. Oil prices, however, have not seen the kind of support from investors enjoyed by stocks during a moderating of trade tensions through April. "While the recent de-escalation in trade talks has certainly reduced the probability of a bear case, that doesn't imply that the 'Trump put' extends over the energy sector, as President Trump and his aides continue to pursue lower oil and gasoline prices — as low as $50 per barrel," wrote JPMorgan's Natasha Kaneva and her team on Tuesday. On the demand side, "the markets may be underestimating the final tariff levels that the Trump administration plans to impose on US imports," said Kaneva. On the consumer side, gas prices have actually risen over the month of April amid increased demand and better weather across much of the country. Data from AAA showed the average per-gallon cost of regular gas stood at $3.18 as of Wednesday, up from $3.16 a month ago. Still, these prices are down sharply from last year, when the price of a regular gallon of gas stood at $3.66. Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Sign in to access your portfolio
Yahoo
30-04-2025
- Business
- Yahoo
Oil prices on track for biggest monthly drop since 2021 as trade war sparks recession, demand fears
Crude oil prices are headed for their worst monthly drop since 2021 as fears over a global economic downturn and demand shock as a result of tariffs come as the supply of oil is about to surge. West Texas Intermediate (CL=F) crude oil prices, the US benchmark, were down over 3.5% on Wednesday to trade as low as $58.20 a barrel, while Brent crude (BZ=F), the international benchmark, also fell over 3.5% to as low as $60.93 a barrel. WTI crude oil prices have lost over 16% this month, while Brent crude has dropped closer to 17%, the largest monthly decline since November 2021. Wednesday's drop followed data out early Wednesday that showed the US economy contracted in the first quarter for the first time in three years. Labor market data also showed slower hiring in the US than forecast, a signal that tariffs may be weighing on economic growth. Read more: What Trump's tariffs mean for the economy and your wallet These reports followed data out of China this week that showed factory activity in the country contracting at the fastest rate in over a year, stoking further worries that the US-China trade spat will hurt growth and, in turn, global oil demand. China is the world's largest crude oil importer. An increase in supply is also expected next month from the Organization of Petroleum Exporting Countries and its allies (OPEC+), putting pressure on prices. A report from Reuters suggested that another increase in production is being contemplated to take effect in June. The S&P 500 (^GSPC) has been in recovery mode in recent weeks, recovering some of its steep early April declines amid an optimistic tone from Trump officials on tariff reprieves and potential deals. Oil prices, however, have not seen the kind of support from investors enjoyed by stocks during a moderating of trade tensions through April. "While the recent de-escalation in trade talks has certainly reduced the probability of a bear case, that doesn't imply that the 'Trump put' extends over the energy sector, as President Trump and his aides continue to pursue lower oil and gasoline prices — as low as $50 per barrel," wrote JPMorgan's Natasha Kaneva and her team on Tuesday. On the demand side, "the markets may be underestimating the final tariff levels that the Trump administration plans to impose on US imports," said Kaneva. On the consumer side, gas prices have actually risen over the month of April amid increased demand and better weather across much of the country. Data from AAA showed the average per-gallon cost of regular gas stood at $3.18 as of Wednesday, up from $3.16 a month ago. Still, these prices are down sharply from last year, when the price of a regular gallon of gas stood at $3.66. Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Sign in to access your portfolio
Yahoo
27-04-2025
- Business
- Yahoo
Is Endeavour Silver Corp. (EXK) the Best Precious Metals Stock to Buy According to Analysts?
We recently published a list of . In this article, we are going to take a look at where Endeavour Silver Corp. (NYSE:EXK) stands against other best precious metals stocks to buy according to analysts. Gold prices set new records in early 2025, driven by growing interest in gold as a safe haven asset amid rising tariffs and trade wars between the United States and China. The precious metal exceeded $3,000/oz recently. Lately, gold is acting both as a hedge against inflation and a competitor to yield-earning assets like the US Treasurys. This has created what analysts call a 'smile profile,' where gold tends to go up whether US yields rise or fall. Natasha Kaneva, head of Global Commodities Strategy at J.P. Morgan, commented: 'We maintain our multi-year bullish outlook on gold. From a macro perspective, a universal tariff scenario would likely supercharge the broad price effects for precious metals. Boosted economic growth concerns and higher inflation risks could continue to fuel strong investor demand for gold.' Similarly, Jim Wyckoff, a senior analyst at Kitco Metals, said on April 15: 'Traders are waiting for the next major fundamental development to drive the gold market, but the charts remain bullish. There's still safe-haven demand.' In line with that, European private banking firm Commerzbank wrote in a note to investors: 'The rise in the gold price is also partly in line with the continuing weakness of the dollar, which points to a gradual erosion of the U.S. currency's status as a safe asset – gold is likely to be an alternative for many USD investors.' Goldman Sachs has lifted its gold price forecast from $3,300 to $3,700 per ounce by the end of 2025. This forecast is supported by higher central bank purchases and increased ETF inflows amid growing global economic uncertainty. President Trump's unpredictable trade policies are the basis for this market upheaval. While gold remains a haven in volatile times, it lacks income-generating potential and incurs storage costs. Still, mining stocks are also gaining appeal, with lower energy costs boosting profits. According to the Silver Institute, the silver market is moving towards its fifth consecutive year of a supply deficit in 2025, with demand exceeding supply again. Industrial use, especially in green tech, electric vehicles, and electronics, is driving much of this demand and is expected to reach a new record this year. Prices also rebounded in early 2025, partly due to growing uncertainty around President Trump's potential tariff policies, which have resulted in more short covering and deliveries of silver into CME warehouses. At the same time, ongoing global and economic concerns have helped push investors back toward safe-haven assets like silver. Still, silver investment has faced some challenges. Ongoing concerns about China's economy have held back demand, and the persistently high gold-to-silver ratio suggests that investors still favor gold. Overall, silver demand is expected to stay steady at around 1.2 billion ounces. While industrial and retail investment will rise, jewellery and silverware demand, especially in India, is expected to fall due to high local prices. For this article, we searched multiple credible websites to compile a large list of US-listed precious metals stocks. Next, we manually searched for the average upside potential of each stock and selected 13 stocks with the highest values. The list below is ranked in ascending order of the upside potential as of April 16. We have also mentioned the hedge fund sentiment as per Insider Monkey's database of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A bird's eye view of a team in protective gear operating heavy machinery in a silver extraction site. Number of Hedge Fund Holders: 19 Average Upside Potential: 37.41% Endeavour Silver Corp. (NYSE:EXK) is a Vancouver-based mining company that works on discovering and developing silver and gold projects in Mexico, Chile, and the United States. EXK is one of the best metal stocks to monitor. On April 10, H.C. Wainwright reaffirmed a Buy rating on EXK with a price target of $7.25. Endeavour Silver's production dropped recently, mainly because of lower output at the Guanaceví mine, though the higher silver grades at Bolañitos helped balance things out. H.C. Wainwright expects a significant boost in production starting in late 2025, especially with the upcoming Terronera project and the recent Kolpa acquisition. On April 8, Endeavour Silver Corp. (NYSE:EXK) concluded a prospectus offering, raising $45 million by issuing 11.6 million shares at $3.88 each. The money will be used to finance the $145 million purchase of Compañia Minera Kolpa S.A. and its Huachocolpa Uno Mine. The deal is still waiting on regulatory approvals but is expected to close in about 60 days. According to Insider Monkey's fourth quarter database, 19 hedge funds were bullish on Endeavour Silver Corp. (NYSE:EXK), up from 9 funds in the preceding quarter. D E Shaw was the leading stakeholder of the company, with 2.36 million shares worth $8.6 million. Overall, EXK ranks 9th on our list of best precious metals stocks to buy according to analysts. While we acknowledge the potential of precious metals stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than EXK but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
26-04-2025
- Business
- Yahoo
Is Integra Resources Corp. (ITRG) the Best Precious Metals Stock to Buy According to Analysts?
We recently published a list of . In this article, we are going to take a look at where Integra Resources Corp. (NYSEAMERICAN:ITRG) stands against other best precious metals stocks to buy according to analysts. Gold prices set new records in early 2025, driven by growing interest in gold as a safe haven asset amid rising tariffs and trade wars between the United States and China. The precious metal exceeded $3,000/oz recently. Lately, gold is acting both as a hedge against inflation and a competitor to yield-earning assets like the US Treasurys. This has created what analysts call a 'smile profile,' where gold tends to go up whether US yields rise or fall. Natasha Kaneva, head of Global Commodities Strategy at J.P. Morgan, commented: 'We maintain our multi-year bullish outlook on gold. From a macro perspective, a universal tariff scenario would likely supercharge the broad price effects for precious metals. Boosted economic growth concerns and higher inflation risks could continue to fuel strong investor demand for gold.' Similarly, Jim Wyckoff, a senior analyst at Kitco Metals, said on April 15: 'Traders are waiting for the next major fundamental development to drive the gold market, but the charts remain bullish. There's still safe-haven demand.' In line with that, European private banking firm Commerzbank wrote in a note to investors: 'The rise in the gold price is also partly in line with the continuing weakness of the dollar, which points to a gradual erosion of the U.S. currency's status as a safe asset – gold is likely to be an alternative for many USD investors.' Goldman Sachs has lifted its gold price forecast from $3,300 to $3,700 per ounce by the end of 2025. This forecast is supported by higher central bank purchases and increased ETF inflows amid growing global economic uncertainty. President Trump's unpredictable trade policies are the basis for this market upheaval. While gold remains a haven in volatile times, it lacks income-generating potential and incurs storage costs. Still, mining stocks are also gaining appeal, with lower energy costs boosting profits. According to the Silver Institute, the silver market is moving towards its fifth consecutive year of a supply deficit in 2025, with demand exceeding supply again. Industrial use, especially in green tech, electric vehicles, and electronics, is driving much of this demand and is expected to reach a new record this year. Prices also rebounded in early 2025, partly due to growing uncertainty around President Trump's potential tariff policies, which have resulted in more short covering and deliveries of silver into CME warehouses. At the same time, ongoing global and economic concerns have helped push investors back toward safe-haven assets like silver. Still, silver investment has faced some challenges. Ongoing concerns about China's economy have held back demand, and the persistently high gold-to-silver ratio suggests that investors still favor gold. Overall, silver demand is expected to stay steady at around 1.2 billion ounces. While industrial and retail investment will rise, jewellery and silverware demand, especially in India, is expected to fall due to high local prices. For this article, we searched multiple credible websites to compile a large list of US-listed precious metals stocks. Next, we manually searched for the average upside potential of each stock and selected 13 stocks with the highest values. The list below is ranked in ascending order of the upside potential as of April 16. We have also mentioned the hedge fund sentiment as per Insider Monkey's database of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). An aerial view of a vast mining project in a remote area of a landscape. Number of Hedge Fund Holders: 5 Average Upside Potential: 63.53% Integra Resources Corp. (NYSEAMERICAN:ITRG) is a Vancouver-based mining company exploring and developing gold and silver projects across the western US. The company has a number of early-stage exploration properties in Idaho, Nevada, and Arizona. ITRG is one of the best metal stocks to buy. Integra became a gold producer in November 2024 after acquiring Florida Canyon Gold. From then until year-end, the company produced nearly 11,000 ounces of gold, contributing to a record 72,229 ounces for the full year, which exceeded expectations. Integra Resources Corp. (NYSEAMERICAN:ITRG) posted $9.5 million in net income for Q4 and ended 2024 with $52.2 million in cash and $64.4 million in working capital, while spending $14.2 million on exploration projects. On March 27, H.C. Wainwright assigned a Buy rating to Integra Resources Corp. (NYSEAMERICAN:ITRG) and lifted the price target to $2.75 from $2. Analysts see Integra's pivot from being a gold developer to an actual producer, especially with cash flowing in from the Florida Canyon operation, as a major step forward. With over $50 million in cash and strong financials, analysts are optimistic about the company's strong growth potential. According to Insider Monkey's fourth quarter database, 5 hedge funds were bullish on Integra Resources Corp. (NYSEAMERICAN:ITRG), compared to 3 funds in the prior quarter. was the largest stakeholder of the company, with 15.7 million shares valued at $13.5 million. Overall, ITRG ranks 3rd on our list of best precious metals stocks to buy according to analysts. While we acknowledge the potential of precious metals stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than ITRG but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
