CL=F - Crude Oil Aug 20
| Pre. Settlement | N/A |
| Settlement date | 2020-07-21 |
| Open | 40.68 |
| Bid | 40.37 |
| Last price | 40.63 |
| Day's range | 39.90 - 40.95 |
| Volume | 230,798 |
| Ask | 40.37 |
- Zacks
Oil & Gas Stock Roundup: Shell & Exxon's Q2 Updates, BP's Divestment & More
Royal Dutch Shell (RDS.A) and ExxonMobil (XOM) issued updates on their upcoming Q2 earnings, while BP plc (BP) agreed to sell its global petrochemicals business for $5 billion.
- Reuters
Iran's oil storage almost full as sanctions and pandemic weigh
Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by the coronavirus pandemic, industry data showed. Total onshore crude stocks surged to 54 million barrels in April from 15 million barrels in January, and swelled further to 63 million barrels in June, according to FGE Energy. "However, it will technically not be possible to fill tanks to 100% given technical constraints at storage tanks and potential infrastructure bottlenecks," said Homayoun Falakshahi, a senior analyst at Kpler.
- FX Empire
Robust Commodity Buying Despite Mixed Price Action
The Commitments of Traders report covering positions held and changes made by money managers in the week to June 30. A week that despite mixed price performances saw funds buying 18 out of the 24 major commodity futures tracked in this. The top five included corn, natural gas, soybeans, Brent crude oil and copper.
- Reuters
Oil rises as economic data overshadows coronavirus worries
Oil prices edged higher on Tuesday as the U.S. government forecast higher fuel demand and lower production, overshadowing concerns that a surge in new coronavirus cases will hamper a demand recovery. "The market is popping because of the higher forecast demand, and jobs data," said Phil Flynn, senior analyst at Price Futures Group in Chicago. U.S. West Texas Intermediate (WTI) crude futures rose 27 cents, or 0.6%, to $40.90 a barrel, having fallen as low as $39.90.
- Reuters
Down to handful of active rigs, Canada's oil and gas drillers face permanent contraction
Canada's drilling rig count, a bellwether of the oil and gas industry's growth, has plummeted far below previous records, raising risks that much of the country's equipment will permanently fall out of service. Just 18 rigs were active last week in the world's fourth-largest oil-producing country, a fraction of even the depressed levels of a year ago, according to Baker Hughes data. The fleet looks likely to shrink 25% in the next year from the current 500, as companies decide against costly recertifications of equipment, said Kevin Neveu, chief executive of Precision Drilling Corp <PD.TO>, one of Canada's biggest drillers.
- Reuters
Indian households shun downmarket palm oil, cutting demand in lockdown
Palm oil demand in India, the world's top edible oil importer, is set to plunge this year as coronavirus lockdowns slash food service sector demand and households opt for alternatives at the supermarket. India's palm oil imports could plunge 20% from a year ago to 7.5 million tonnes in the 2019/20 marketing year ending on Oct. 31, said Angshu Mallick, deputy chief executive of Adani Wilmar, a leading edible oil refiner in the country. Edible oil consumption in India trebled over the past two decades as the population rose, incomes increased, and people started to eat out more.
- FX Empire
Oil Price Fundamental Daily Forecast – Pressured by Renewed Concerns Over Fuel Demand
Data from the American Petroleum Institute industry group at 20:30 GMT on Tuesday is expected to show a 100,000 barrel rise in gasoline stockpiles.
- Financial Times
Oil crash piles pressure on bloated refining sector
Oil refineries are struggling as the worst demand-crash in decades cascades through the industry, leaving plants around the world at risk of closure. “As long as you keep running and the rival beside you falls over you’d be OK,” Mr Gelder said.
- Reuters
Stocks, oil slip but Chinese stocks rumble on
Investor caution over renewed coronavirus-related lockdowns buoyed the dollar and snuffed a five-day rally in most world equity markets on Tuesday, but was not enough to halt a hot streak in Chinese stocks. U.S. Treasury yields ticked lower as a rising caseload of COVID-19, the respiratory disease caused by the novel coronavirus, raised concerns about economic reopening plans. Investors remain concerned about the U.S. economic outlook, said Jim Barnes, director of fixed income for Bryn Mawr Trust in the Philadelphia suburb of Berwyn.
- FX Empire
Gold Price Prediction – Prices Rally Hitting Fresh 8-Year Highs on Strong ISM Services Report
Strong gains in Chinese equities spilled over into US stocks which paved the way for higher gold prices. Stronger than expected US ISM services numbers helped add to riskier assets, which have been highly correlated gold, helping to buoy the yellow metal.
- FX Empire
Crude Oil Price Forecast – Crude Oil Markets Continue to Test Upside
The crude oil markets rallied a bit against the backdrop of a positive Monday but find quite a bit of noise just above that they need to deal with.
- FX Empire
Gold Price Forecast – Gold Markets Continue to Look Strong
Gold markets went back and forth on Monday, reaching towards the $1800 level but it looks like we still have the same resistance in that region.
- FX Empire
Oil Settles Above The Key $40 Level
Oil continues its upside move and heads towards the test of the next resistance level at $41.50.
- FX Empire
E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Strong Over 26298, Weak Under 25938
The direction of the September E-mini Dow Jones Industrial Average on Monday is likely to be determined by trader reaction to the 50% level at 25938.
- FX Empire
GBP/JPY Price Forecast – British Pound Continues to See Volatility Against Yen
British pound rallied a bit on Monday. This was helped by Chinese equities kicking off with the bank, bringing up the amount of risk appetite around the world.
- Motley Fool
Why Occidental Petroleum Stock Rocketed 41% in June
Shares of Occidental Petroleum (NYSE: OXY) leaped 41.3% in June, according to data provided by S&P Global Market Intelligence. Occidental's stock started June on a high note. Two other factors added fuel to Occidental's rally last month.
- FX Empire
Crude Oil Price Update – Trader Reaction to $40.65 Sets the Tone
Today’s session begins with the market up six days from its last main bottom. This means we should start watching for signs of a top.
- FX Empire
U.S. Stocks Set To Open Higher As Traders Bet On Swift Recovery
S&P; 500 futures are pointing to a higher open amid global market optimism.
- FX Empire
We See 7% Upside to Avangrid $46 Target And 11% Total Return: Morgan Stanley
“Avangrid has above-average EPS growth potential from utility and renewables opportunities, along with upside options not yet priced in,” wrote Morgan Stanley.
- FX Empire
Gold Price Futures (GC) Technical Analysis – Strengthens Over $1787.00, Weakens Under $1780.90
The direction of the August Comex gold futures contract on Monday will likely be determined by the pair of 50% levels at $1787.00 and $1780.90.
- Investing.com
Watch Now: Here's What's Moving Markets - July 7 (Video)
Investing.com - Our senior markets analyst Jesse Cohen gives us his top five things to know in financial markets on Tuesday, July 7, including:
- FX Empire
Gold Got Inside Flat
Gold is looking quite stable during the second week of July – the asset is trading at $1785.40 USD after updating its last week’s highs at $1807.70.
- Reuters
Coal India workers strike cuts output by 56% - official
A strike at Coal India Ltd <COAL.NS> cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a senior company official told Reuters. The world's largest coal miner's production fell to 573,000 tonnes per day over the three days, compared with a June average output of 1.29 million tonnes per day. Offtake by customers, such as power generators, fell nearly 62% to an average of about 536,000 tonnes per day, the official said.
- Reuters
Saudi Arabia ups August crude prices to Asia
Saudi Arabia's state oil producer Aramco has hiked official selling prices (OSPs) for its crude to Asia by $1 a barrel in August, and raised the OSPs for almost all grades to Europe and the United States. Saudi Arabia has set the August price to Asia at plus $1.20 a barrel versus the Oman/Dubai average, Aramco said in a statement on Monday.
