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☆ Premarket stocks: What the OPEC cuts mean for Putin and Russia
▼ + stars: | 2023-04-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

OPEC+ was formed in 2016 to coordinate and regulate oil production and stabilize global oil prices. What it means for Putin: OPEC+’s decision to cut oil production could have big implications for Russia. After Russia invaded Ukraine last year, the United States and United Kingdom immediately stopped purchasing oil from the country. Higher-priced oil could help Russia pay for its war on Ukraine and also boosts revenue in Saudi Arabia. Current regulations, Dimon argued, could actually lull banks into complacency without actually addressing real system-wide banking issues.

☆ Buying the dip on energy stocks? Wall Street pros name their top picks
▼ + stars: | 2023-03-28 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Energy was the second-best-performing sector of the S & P 500 last week, as investors flocked back into the stocks amid a recent dip in oil prices. Thummel also likes two energy infrastructure stocks — Cheniere Energy and Energy Transfer . He likes Viper Energy Partners , which owns a royalty portfolio of oilfield assets. "Viper Energy has one of the largest backlogs of tier-one locations in the [Permian] basin. Viper Energy is thus able to leverage improving energy prices while having "strong" downside support, according to Davolos.

☆ 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.

☆ Iran says deal reached with US for prisoner swap
▼ + stars: | 2023-03-12 | by ( Parisa Hafezi | ) www.reuters.com time to read: +3 min

Some Iranian media reported last week that Iran had reached a prisoner swap deal in exchange for the release of $7 billion in frozen Iranian oil funds under U.S. sanctions in South Korea. In 2018, then-U.S. president Donald Trump ditched a 2015 nuclear deal between Iran and six powers and reimposed sanctions that have crippled the Islamic Republic's economy. The deal imposed restrictions on Iran's nuclear activities in exchange for lifting international sanctions. In reaction to Washington's sanctions, Tehran has gradually violated curbs of the pact on its nuclear programme. The deal imposed restrictions on Iran's nuclear activities in exchange for lifting international sanctions.

☆ Oil funds and a Turkey ETF were 2022 market winners, but Russia and crypto tanked
▼ + stars: | 2022-12-27 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN —Oil stocks skyrocketed in 2022, so it’s no surprise funds that track the energy sector were Wall Street winners this year. The iShares MSCI Turkey exchange-traded fund had more than doubled as of December 19, according to data from Morningstar Direct. The Turkish economy has slowed recently as unemployment has risen, but the instability has not hurt Turkish stocks. Other US and international oil funds and ETFs were also at the top of Morningstar Direct’s list. (Morningstar Direct provided CNN Business with a ranking of the best and worst mutual funds and ETFs for 2022, excluding so-called leveraged funds that make outsized bets on stock market indexes.)

☆ Oil hedge funds' highs and lows as geopolitics cloud outlook
▼ + stars: | 2022-12-12 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

King says he avoided steep losses by trading commodities other than those attached to the oil price. Bumper performances at other oil funds have also been curtailed. Industry data suggests the performance of oil funds in 2022 was varied. Reuters Graphics Reuters GraphicsHedge funds that traded energy commodities using systematic - or computer-led - strategies show a narrower performance range. Among the top, Arion Investment Management's systematic energy fund is up 31% for the year so far.

Sales over the two most recent weeks totalled 149 million barrels, the fastest rate since early March, in the immediate aftermath of Russia’s invasion of Ukraine. Similar to the week before, last week’s selling was concentrated in crude (-89 million barrels), specifically in Brent (-71 million barrels). Two-week crude sales totalled 137 million barrels, with Brent totalling 100 million barrels, according to position records published by ICE Futures Europe and the U.S. Commodity Futures Trading Commission. The number of crude positions, WTI as well as Brent, fell to just 306 million barrels (9th percentile for all weeks since 2013) down from 443 million barrels (40th percentile) on Nov. 8. The ratio of bullish long positions to bearish short ones fell to 3.28:1 (27th percentile) from 5.36:1 (62nd percentile) two weeks earlier.

LONDON, Nov 21 (Reuters) - Oil prices were hit by an abrupt reversal of sentiment last week, with investors selling at the fastest rate for four months, as the economic outlook worsened and fears eased that the G7 price cap on Russian crude would disrupt its exports. The most recent week saw sales concentrated in Brent (-30 million barrels) and NYMEX and ICE WTI (-19 million) with lighter sales in European gas oil (-5 million), U.S. gasoline (-4 million) and U.S. diesel (-4 million). As a result, Brent futures prices and calendar spreads retreated as traders prepared for a relatively hard landing for the global economy which will likely cut oil consumption absolutely or at least relative to the previous trend. Related columns:- Oil investors set for supply fall to offset weak economy (Reuters, Nov. 15)- Hedge funds tempted back into crude oil market by limited supply (Reuters, Nov. 7)- Oil funds trapped between low inventories and slowing economy (Reuters, Oct. 31)- Oil investors on defensive as recession forces intensify(Reuters, Oct. 24)John Kemp is a Reuters market analyst. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

[1/2] Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. In the most recent week, purchases were concentrated on the crude side in NYMEX and ICE WTI (+19 million barrels) and Brent (+10 million). There was smaller buying in U.S. gasoline (+7 million barrels) and U.S. diesel (+4 million) and no change in European gas oil. As a result, the combined crude position has climbed to 443 million barrels (39th percentile for all weeks since 2013), up from 314 million barrels (10th percentile). Related columns:- Hedge funds tempted back into crude oil market by limited supply (Reuters, Nov. 7)- Oil funds trapped between low inventories and slowing economy (Reuters, Oct. 31)- Oil investors on defensive as recession forces intensify (Reuters, Oct. 24)- OPEC⁺ cut draws hedge funds back into the oil market (Reuters, Oct. 10)John Kemp is a Reuters market analyst.

LONDON, Nov 7 (Reuters) - Prospective disruption to Russia’s petroleum exports from the planned G7 price cap as well as the reduction of OPEC+ production targets are encouraging more hedge funds to build bullish positions in the crude oil market. Hedge funds and other money managers purchased the equivalent of 35 million barrels in the six most important petroleum futures and options contracts in the week ending on Nov. 1. The net position in crude had climbed to 414 million barrels (30th percentile for all weeks since 2013) up from a recent low of 14 million barrels (10th percentile) at the end of September. Since 2013, the median position in crude oil has been just over 500 million barrels, still some 90 million barrels higher than last week. Related columns:- Oil funds trapped between low inventories and slowing economy (Reuters, Oct. 31)- Oil investors on defensive as recession forces intensify (Reuters, Oct. 24)- OPEC⁺ cuts attract funds back to oil market (Reuters, Oct. 17)- OPEC⁺ cut draws hedge funds back into the oil market (Reuters, Oct. 10)- John Kemp is a Reuters market analyst.

☆ Why the energy stock rally can keep going in 2023-24 after a 60% surge this year, according to the ETF strategy lead at $18 billion SS&C ALPS
▼ + stars: | 2022-11-02 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

Energy stocks have been the biggest winners in the stock market over the last year. While nothing lasts forever, there are good reasons to think energy stocks still have plenty of bright days ahead of them, according to Paul Baiocchi. The S&P 500's energy sector is up about 60% so far this year, a remarkable result with the overall S&P 500 down nearly 20% year-to-date. Along with energy companies, he says that value stocks are better positioned than growth stocks in this higher-interest rate environment. And if energy can continue to outperform, it would be a dramatic change considering how bearish investors were about energy companies just a few years ago.

The previous four weeks saw two large purchases (+62 million and +47 million barrels) and two large sales (-34 million and -50 million barrels) as investor sentiment see-sawed. The mixed picture continued last recent week, with heavy buying of Brent (+29 million barrels), and smaller purchases of NYMEX and ICE WTI (+6 million) and U.S. gasoline (+6 million). But that was partly offset by small sales of U.S. diesel (-4 million) and European gas oil (-2 million). But uncertainty is high and confidence is low, with a net position of just 503 million barrels (33rd percentile for all weeks since 2013). Related columns:- Oil investors on defensive as recession forces intensify (Reuters, Oct. 24)- OPEC⁺ cuts attract funds back to oil market (Reuters, Oct. 17)- Diesel’s gloomy message for the global economy (Reuters, Oct. 14)- OPEC⁺ cut draws hedge funds back into the oil market (Reuters, Oct. 10)- John Kemp is a Reuters market analyst.

Oil prices rose around 4% on Monday morning. Crude oil storage tanks at the Juaymah Tank Farm in Saudi Aramco's Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. "A further uptick in trading activity coupled with tightening near-term oil fundamentals could well push oil prices back to $100/bbl," Brennock said in a research note. Storage tanks and oil processing facilities operate beside the Arabian Sea at Saudi Aramco's Ras Tanura oil refinery and terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. The upcoming OPEC+ meeting in Vienna will result in an oil production cut "of some historic kind", said CIO of Pickering Energy Partners, Dan Pickering.

☆ Oil stocks are acting like the top is in for one-time hottest trade of 2022
▼ + stars: | 2022-08-04 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

But Energy stocks are acting like this may be the top. Lately, traders have been selling off oil stocks under the theory that profits in 2023 will likely be lower than 2022, not higher. The reason: the primary determinant of oil company profits are oil prices, and estimates for oil are coming down. For much of 2022, oil has been in "backwardation": futures prices for the most immediate contracts have been higher than prices farther out. Bulls are cheering the drop in Energy No one cheering for stocks to rally are crying over the drop in oil, or the drop in oil stocks.

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