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☆ Vandana Insights: U.S. sanctions on Iran, Venezuela won't impact oil
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael-Iran conflict: Market could be 'gradually recalibrating' what to expect, analytics firm saysVandana Hari, founder of Vandana Insights, discusses how Middle East tensions might affect the oil market.

Persons: Vandana Hari Organizations: Israel Locations: Iran

☆ Dichotomy between OPEC, IEA outlooks has left the market 'quite befuddled,' energy analyst says
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDichotomy between OPEC, IEA outlooks has left the market 'quite befuddled,' energy analyst saysVandana Hari, founder of energy firm Vandana Insights, says OPEC has a more optimistic outlook on oil demand than the market consensus.

Persons: Vandana Hari Locations: OPEC

☆ China’s largest oil supplier in 2023 was Russia
▼ + stars: | 2024-01-22 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Russia surpassed Saudi Arabia to become China’s largest oil supplier in 2023, according to the latest Chinese customs data. That helped Russia overtake Saudi Arabia as China’s largest crude oil supplier for the year. The Middle East country shipped 85.96 million metric tons of crude oil to China in 2023, down 2% from 2022. Russia now accounts for 19% of China’s oil imports, while Saudi Arabia makes up 15%. Russia became China’s largest oil supplier eight years ago, but it fell behind Saudi Arabia between 2019 and 2021, when the Gulf nation boosted its energy trade with Beijing.

Persons: ”, Vandana Hari, Hari, That’s, Xi Jinping, Mikhail Mishustin, ” Xi, Xi Organizations: Hong Kong CNN —, China’s, Administration, Customs, West, Vanda Insights, Saudi, Moscow, Russian, Xinhua Locations: Hong Kong, Hong Kong CNN — Russia, Saudi Arabia, Ukraine, China, Russia, Gulf, Beijing, Moscow, India, Singapore, Iraq, leapfrog, The, Saudi

☆ Oil slides as Saudi price cuts counter Middle East worries
▼ + stars: | 2024-01-08 | by ( ) www.cnbc.com time to read: +2 min

In an aerial view, oil storage tanks at the Enterprise Sealy Station are seen on August 28, 2023 in Sealy, Texas. Oil prices fell by more than 3% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting supply concerns generated by escalating geopolitical tension in the Middle East. On Sunday rising supply and competition with rival producers prompted Saudi Arabia to cut the February official selling price (OSP) of its flagship Arab Light crude to Asia to the lowest level in 27 months. A Reuters survey on Friday found that OPEC oil output rose in December as increases in Iraq, Angola and Nigeria offset continuing cuts by Saudi Arabia and other members of the wider OPEC+ alliance. "However, that doesn't take into account the fact that geopolitical tensions in the Middle East are undeniably rising again, which will mean limited downside."

Persons: John Evans, Tony Sycamore, Antony Blinken, Vandana Hari Organizations: Enterprise, Brent, West Texas, PVM, Reuters, West, Vanda Insights, Libya's National Oil Corporation Locations: Sealy , Texas, Saudi Arabia, Yemeni, Red, Asia, Iraq, Angola, Nigeria, OPEC, Saudi, Gaza, West Bank, Lebanon, Syria

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford//File Photo Acquire Licensing RightsNEW DELHI, Oct 24 (Reuters) - Oil prices rose on Tuesday, recovering some of the previous day's losses, as investors remained nervous that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region, causing potential supply disruptions. But Israel continued its bombardment of Gaza on Monday after launching air strikes over southern Lebanon overnight. U.S. crude stockpiles were expected to have risen last week, while distillate and gasoline inventories fell, a preliminary Reuters poll showed on Monday. Reporting by Mohi Narayan in New Delhi and Yuka Obayashi in Tokyo; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Nick Oxford, Yuki Takashima, Israel, Vandana Hari, Takashima, Mohi Narayan, Yuka Obayashi, Sonali Paul Organizations: REUTERS, Brent, U.S, West Texas, Nomura Securities, Vanda Insights, American Petroleum Institute, Energy Information Administration, U.S . Department of Energy, Thomson Locations: Cushing , Oklahoma, DELHI, Israel, U.S, Gaza, Lebanon, Palestinian, OPEC, China, New Delhi, Tokyo

☆ There is a geopolitical risk for oil prices, says analyst
▼ + stars: | 2023-10-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is a geopolitical risk for oil prices, says analystVandana Hari of Vandana Insight says there is a geopolitical risk for oil prices if the Israel-Hamas conflict widens into a regional war causing distribution supplies from the Middle East.

Persons: Vandana Hari Organizations: Vandana Locations: Israel

☆ 'Knee-jerk surge': Oil experts predict market impact of Israel-Hamas conflict
▼ + stars: | 2023-10-08 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

EDITORS NOTE: Graphic content / TOPSHOT - A plume of smoke rises above buildings in Gaza City on October 7, 2023 during an Israeli air strike. (Photo by MAHMUD HAMS / AFP) (Photo by MAHMUD HAMS/AFP via Getty Images)Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC. "We may see a knee-jerk surge in crude prices when markets open on Monday," Vandana Hari, CEO of Vanda Insights, told CNBC via email. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza. Civilians including women, children and the elderly have been abducted, and others killed in their homes, Israeli Prime Minister Benjamin Netanyahu said.

Persons: MAHMUD HAMS, That's, Vandana Hari, Hari, —, Benjamin Netanyahu Organizations: Getty, CNBC, Vanda Insights, — Locations: Gaza City, Israel, Gaza, AFP, U.S, Union

REUTERS/Stringer Acquire Licensing RightsSept 25 (Reuters) - Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand. Both contracts fell last week, snapping a three-week winning streak, after a hawkish Federal Reserve stance rattled global financial sectors and raised oil demand concerns. Prices had rallied more than 10% in the previous three weeks on forecasts of a wide crude supply deficit in the fourth quarter after Saudi Arabia and Russia extended additional supply cuts to the end of the year. However, analysts flagged that oil prices face technical resistance at the November 2022 highs that were hit last week. In a positive sign, China's oil demand increased 0.3 million barrels per day (bpd) to 16.3 million bpd last week, partly due to a gradual recovery in jet fuel demand for international flights, they added.

Persons: Stringer, Tony Sycamore, Vandana Hari, Baker Hughes, Goldman Sachs, Mohi Narayan, Florence Tan, Sonali Paul, Christian Organizations: REUTERS, Brent, . West Texas, IG, Northern, Vanda Insights, Thomson Locations: Heilongjiang province, China, Moscow, Saudi Arabia, Russia, United States, Florence

Aug 14 (Reuters) - Oil prices declined more than 1% on Monday as concerns about China's faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts. A stronger dollar pressures oil demand by making the commodity more expensive for buyers holding other currencies. It has been singularly focused on U.S. economic optimism, to the exclusion of the increasingly stronger headwinds blowing in the eurozone and China," said Vandana Hari, founder of oil market analysis provider Vanda Insights. "A rebalancing is overdue but it may need a reality check in the markets stateside," Hari said. In the United States, the number of operating oil rigs held steady at 525 last week, after falling for eight weeks in a row, according to Baker Hughes weekly report.

Persons: Vandana Hari, Hari, Tina Teng, Brent, Baker Hughes, Florence Tan, Mohi Narayan, Tom Hogue, Sonali Paul Organizations: Brent, West Texas, U.S, Federal, Vanda Insights, CMC, Organization of, Petroleum, International Energy Agency, Thomson Locations: China, OPEC, Saudi Arabia, Russia, Russian, Ukraine, United States, Singapore, New Delhi

Aug 14 (Reuters) - Oil prices eased on Monday as concerns about China's faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts. A stronger dollar pressures oil demand by making the commodity more expensive for buyers holding other currencies. "A rebalancing is overdue but it may need a reality check in the markets stateside," Hari said. In the United States, the number of operating oil rigs held steady at 525 last week, after falling for eight weeks in a row, according to Baker Hughes weekly report. Reporting by Florence Tan in Singapore and Mohi Narayan in New Delhi; Editing by Sonali Paul and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Vandana Hari, Hari, Tina Teng, Brent, Baker Hughes, Florence Tan, Mohi Narayan, Sonali Paul, Tom Hogue Organizations: Brent, West Texas, U.S, Federal, Vanda Insights, CMC, Organization of, Petroleum, International Energy Agency, Thomson Locations: China, OPEC, Saudi Arabia, Russia, Russian, Ukraine, United States, Singapore, New Delhi

2 oil consumer, while Libya resumed production on the weekend. "The GDP came in below expectations, so will do little to ease concerns over the Chinese economy," said Warren Patterson, ING's head of commodities research. "Apparent oil demand grew at a strong pace year on year, but the market seems focused on the headline (GDP) numbers," Patterson said. "They are stockpiling crude at low prices, and waiting for recession to hit the West before going full on with stimulus," Grasso said. Reporting by Florence Tan and Mohi Narayan; Editing by Tom Hogue and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: China's, Warren Patterson, ING's, Patterson, Stefano Grasso, Grasso, El, Vandana Hari, Hari, Florence Tan, Mohi Narayan, Tom Hogue, Sonali Paul Organizations: Brent, U.S . West Texas, National Bureau, Statistics, Shell, Vanda Insights, Thomson Locations: China, Libya, U.S, Beijing, 8VantEdge, Singapore, Nigerian, Russia, Moscow, Saudi Arabia

☆ Vanda Insights: Saudi extension of oil cuts was baked into price
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVanda Insights: Saudi extension of oil cuts was baked into priceSaudi Arabia says it will extend oil cuts until August. CNBC's Dan Murphy speaks to Vandana Hari, founder and CEO of Vanda Insights, ahead of a OPEC seminar in Vienna.

Persons: CNBC's Dan Murphy, Vandana Hari Organizations: Insights, Vanda Insights Locations: Saudi Arabia, Vienna

☆ Oil rises on large US stock draws, but rate hike fears linger
▼ + stars: | 2023-06-28 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +3 min

June 28 (Reuters) - Oil prices edged higher on Wednesday after industry data showed a larger-than-expected drawdown of U.S. inventories, signalling robust demand from the world's biggest oil consumer, but the gains were limited by worries over interest rate hikes. Both contracts had fallen by about 2.5% in the previous session on signals that central banks may not be done with interest rate hikes. "Tuesday's slump took Brent and WTI close to support levels that have held through the price dives of the past couple of months," said Vandana Hari, founder of oil market analysis provider Vanda Insights. Higher interest rates can weigh on economic activity and oil demand. Analysts said that markets have struggled to shake off fears that higher interest rates will weigh on global growth and oil demand.

Persons: Brent, WTI, Vandana Hari, Hari, Christine Lagarde, Mohi Narayan, Arathy Somasekhar, Muralikumar Anantharaman, Jamie Freed, Gerry Doyle Organizations: Brent, U.S, West Texas, Vanda Insights, American Petroleum Institute, Analysts, European Central Bank, Federal Reserve, National Australia Bank, Thomson Locations: Saudi, China

☆ Oil higher on large US stock draws, but rate hike fears linger
▼ + stars: | 2023-06-28 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +3 min

June 28 (Reuters) - Oil prices edged higher on Wednesday after industry data showed a larger-than-expected drawdown of U.S. inventories signalling robust demand from the world's biggest oil consumer, but the gains were limited by worries over interest rate hikes. Both contracts had fallen by about 2.5% in the previous session on signals that central banks may not be done with interest rate hikes. "Tuesday's slump took Brent and WTI close to support levels that have held through the price dives of the past couple of months," said Vandana Hari, founder of oil market analysis provider Vanda Insights. Higher interest rates can weigh on economic activity and oil demand. Analysts said that markets have struggled to shake off fears that higher interest rates will weigh on global growth and oil demand.

Persons: Brent, WTI, Vandana Hari, Hari, Christine Lagarde, Mohi Narayan, Arathy Somasekhar, Muralikumar Anantharaman, Jamie Freed Organizations: Brent, U.S, West Texas, Vanda Insights, American Petroleum Institute, Analysts, European Central Bank, Federal Reserve, National Australia Bank, Thomson Locations: Saudi, China

☆ Oil markets shrug off Russian political turmoil
▼ + stars: | 2023-06-26 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

Brent crude futures were up 38 cents, or 0.5%, at $74.23 a barrel by 1040 GMT. U.S. West Texas Intermediate crude (WTI) was up 28 cents, or 0.4%, at $69.44. A clash between Moscow and Russian mercenary group Wagner was averted on Saturday after the heavily armed mercenaries withdrew from the southern Russian city of Rostov under a deal that halted their rapid advance on the capital. However, the challenge has raised questions about President Vladimir Putin's grip on power and some concern about possible disruption of Russian oil supply. "China's economic growth has been a nightmare for commodity markets, particularly in oil and industrial metals," CMC Markets analyst Tina Teng said in a note.

Persons: Brent, Wagner, Vladimir Putin's, Vandana Hari, Goldman Sachs, Tina Teng, Noah Browning, Florence Tan, David Goodman Organizations: . West Texas, Vanda Insights, U.S . Federal, CMC, Thomson Locations: Moscow, Russian, Rostov, Russia, U.S

☆ Oil steady after U.S. debt deal but rate hike worries linger
▼ + stars: | 2023-05-29 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

May 29 (Reuters) - Oil prices were steady on Monday after U.S. leaders reached a tentative debt ceiling deal, possibly averting a default in the world's largest economy and oil consumer, but concerns about further interest rate hikes capped gains. Analysts said the provisional deal has taken pressure off the markets, offering a relief rally in risk assets, including crude oil. Still, analysts see any boost in oil prices from the debt deal as short-lived. The U.S. Federal Reserve may still raise interest rates in June, IG's Sydney-based analyst Tony Sycamore said: "Higher U.S. rates are a headwind for crude oil demand," he added. However, comments from Russian oil officials and sources, including Deputy Prime Minister Alexander Novak, indicate the world's third-largest oil producer is leaning towards leaving output unchanged.

Companies Baker Hughes Co FollowMay 29 (Reuters) - Oil prices rose on Monday after U.S. leaders reached a tentative debt ceiling deal, possibly averting a default in the world's largest economy and oil consumer, although concerns about further interest rate hikes capped gains. Analysts said the provisional deal has taken pressure off the markets, offering a relief rally in risk assets, including crude oil. Analysts see the boost in oil prices from the debt deal as short-lived. "Higher U.S. rates are a headwind for crude oil demand," he added. Future oil output growth in the U.S., the world's biggest producer, also may slow as energy firms cut rigs for a fourth week.

☆ There's 'a little more headroom' for oil prices, analyst says
▼ + stars: | 2023-05-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's 'a little more headroom' for oil prices, analyst saysVandana Hari of Vanda Insights says, however, that worries about a U.S. credit crunch and China's lackluster recovery will continue to weigh on sentiment in the oil complex.

Summary U.S. crude stockpiles rise 5 mln bbl -EIAReuters poll forecast 900,000 bbl U.S. crude drawdownIEA predicts demand will outpace supply by 2 mln barrels per dayTOKYO, May 17 (Reuters) - Oil prices settled up about $2 on Wednesday as optimism over oil demand and U.S. debt ceiling negotiations outweighed worries about abundant supply. West Texas Intermediate U.S. crude settled up $1.97 or 2.8% to $72.83. President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default. The International Energy Agency on Tuesday predicted demand would outpace supply by 2 million barrels per day (bpd) in the second half of the year, with China making up 60% of oil demand growth in 2023. Markets are in a "wait-and-watch mode" over the outcome of the debt ceiling negotiations, said Vandana Hari, founder of oil market analysis provider Vanda Insights.

☆ Oil falls on surprise increase to U.S. inventories
▼ + stars: | 2023-05-10 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

Summary U.S. consumer price index figures for April due on WednesdayComing up: EIA data on U.S. oil inventories at 10:30 a.m. EDTMay 10 (Reuters) - Oil prices fell on Wednesday, ending a three-day rally as an unexpected rise in U.S. oil inventories sparked demand concerns and investors awaited inflation data for a steer on U.S. interest rates. U.S. government data on oil inventories is due on Wednesday. The surprising U.S. inventory build along with lower crude imports and April's softer export growth in China exacerbated worries about global oil demand. "Crude futures were unwinding Tuesday’s modest gains early Wednesday as economic worries occupied centre stage, especially over the world’s two largest economies," said Vandana Hari, founder of oil market analysis provider Vanda Insights. OPEC and its allies, together known as OPEC+, agreed last month to cut production by 1.16 million barrels per day (bpd) from May through to the end of the year.

☆ Oil slips as recession fears loom over economic data
▼ + stars: | 2023-04-17 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

SINGAPORE, April 17 (Reuters) - Oil prices turned lower on Monday as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes, though Chinese GDP data was expected to augur well for demand growth. Both contracts notched their fourth weekly gain in a row last week, the longest such streak since mid-2022. "The oil complex continues to digest ongoing signs of a U.S. economic cool-down." Earnings from U.S. companies could also provide clues for the Fed's policy path and the dollar's trajectory. The greenback has been strengthening alongside interest rate hikes, making dollar-denominated oil more expensive for holders of other currencies.

☆ Oil edges higher as tighter supply looms, growth concerns weigh
▼ + stars: | 2023-04-10 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

"I am in the latter camp and still see prices moving higher from here as we go through the year." Adding to tightness in supply has been a shutdown of Iraq's northern exports. A deal was signed last week to restart the flows, but as of Thursday they hadn't resumed. Oil also drew support from a steeper-than-expected drop in U.S. crude inventories last week, as well as a decline in gasoline and distillate stocks, hinting at rising demand. Also coming up are monthly reports from OPEC on Thursday and the International Energy Agency on Friday, which will update oil demand and supply forecasts.

☆ Oil steadies as tighter supply balances growth concerns
▼ + stars: | 2023-04-10 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

Brent crude slipped 3 cents to $85.09 a barrel by 0816 GMT, while U.S. West Texas Intermediate crude gained 8 cents to $80.78. "I am in the latter camp and still see prices moving higher from here as we go through the year." Adding to tightness in supply has been a shutdown of Iraq's northern exports. Oil also drew support from a steeper-than-expected drop in U.S. crude inventories last week, as well as a decline in gasoline and distillate stocks, hinting at rising demand. In global financial markets, a U.S. inflation report to be released on Wednesday could help investors gauge the near-term trajectory for interest rates.

Companies Baker Hughes Co FollowApril 10 (Reuters) - Oil prices were roughly unchanged on Monday as investors weighed the prospect of tighter supplies from OPEC+ producers from May against concerns about weakening global growth that may dampen fuel demand. The group known as OPEC+ will be cutting mostly sour crude supplies from Middle East producers led by Saudi Arabia. Following the announcement, the world's top oil exporter raised its May crude prices to term customers in Asia and the United States. Separately, investors are watching the progress of talks between Iraq and Kurdistan to restart northern oil exports which could bring more sour crude to the global market. Sharp rate hikes have boosted the greenback, making dollar-denominated commodities such as oil more expensive for investors holding other currencies.

☆ Oil markets steady as investors weigh banking crisis, Russia
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: +3 min

Oil markets are closely watching the sentiment in financial market, while oil fundamentals remain sidelined, said Vandana Hari, founder of oil market analysis provider Vanda Insights. A stronger dollar makes dollar-denominated commodities more expensive for holders of other currencies and tends to weigh on demand for oil. Despite lowering output, Russia is expected to maintain crude oil exports by cutting refinery output in April, data from industry sources and Reuters calculations showed on Friday. Exports of Russian oil products have to date been more affected than crude exports by a recent European Union embargo, with tonnes of diesel stuck on ships awaiting buyers. Analysts said Russian crude inventories have been rising since September last year, and the country would likely want to avoid further stockbuilds during refinery maintenance season from March to June.

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