Commodity Research Group (CRG) is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct hedging strategies.
In this podcast, Andrew Lebow and Marty Stetzer discuss oil markets, global events and metals with Ed Meir.
About the Experts
Edward Meir was named the most accurate price forecaster for base metals in 2011, 2014 and 2015 and finished second for 2013, as ranked by Metal Bulletin, a leading trade publication. Additionally, he obtained the #2 ranking for precious metals in 2014 and was third in 2013. Prior to providing research under the banner of Commodity Research Group (formerly Madison Holdings), Mr. Meir sourced nonferrous metals out of Europe, China, and Russia for a number of clients, utilizing the 9 years of trading experience he had acquired while working with UK-based trading company Trans-World Metals.
Currently, Mr. Meir’s CRG has been retained by INTL FCStone as an independent research consultant for both base and precious metals. CRG provided similar services to MF Global for eight years prior to its demise in late 2011, covering the suite of energy products as well. Mr. Meir obtained his BA in Economics from Montreal’s McGill University and his MBA from New York University. He is a long-standing registered principle with the National Futures Association and his firm is registered with the NFA as an independent introducing broker.
Andrew Lebow has been involved in the energy derivative area since 1980. He began his career with Shearson Lehman Brothers where he worked in the initial formulation and marketing of the NYMEX WTI crude contract in 1983 as well as the NYMEX gasoline contract in 1985.
Mr. Lebow has appeared before the State Government of Alaska as well as the State Department of Defense to discuss hedging techniques. Mr. Lebow is also well known as a market analyst and is quoted frequently in the financial press. He has appeared on television on CNBC, NBC, CNN, CBS, and PBS. Mr. Lebow holds a BA from Lafayette College and an MBA from the Kellogg School of Management at Northwestern University.
Marty Stetzer is president of EKT Interactive Oil and Gas Training.
Marty has been a consultant to U.S. and international oil and gas
companies since 1986, including 13 years with PriceWaterhouseCoopers.
He brings 18 years management experience with Schlumberger, Superior Oil-Mobile, Wilson Industries and Exxon.
Marty has worked with numerous national and international oil and gas company managements to help improve business performance across upstream, midstream and downstream operations.
Like many of the team, Marty is active in the Society of Petroleum Engineers and often presents at industry forums.
This is Andy LeBow of Commodity Research Group. Today I’m joined by Marty Stetzer, the president of EKT Interactive and my colleague and partner, a top rated metals analyst, Ed Meir. We’re going to be talking about energy, metals and trade amongst other things on our weekly report, a weekly podcast.
Good morning, Marty.
Good morning Andy. Nice to meet you again.
Likewise and good morning Ed.
Good morning guys.
I think I’m going to start and talk a little bit about oil. The market today is getting hit pretty hard, actually. The last two or three days has been under some severe pressure falling today by two $2 and 50 cents. Today’s May 23rd. We’re down by $2.50 and down significantly from the highs of 66.60 made earlier in the month or uh, last month. I think there are a couple of factors behind this unexpected decline. The first one, for many of you who have followed the commodity markets for years or not even for years is probably the fact that the market was lined up very much on, on the bull side.
Almost everybody was bullish on crude, including us, frankly, looking at a tightening fundamental picture, we saw a huge buildup in the speculative interests in, um, on the commitment of traders, net length just exploding over the last couple of weeks to get a WTI at least to the point where it was something like 14 to one longs to short. And just a few weeks ago it had been three to one long to short, so big speculative interests, big bullish view by us and some of the banks throwing out numbers like $90. I saw one, one bank talk about 250.
So close, but will remain to be seen.
All right. Well thanks very much Ed. And thanks Marty. Again, this is Andy Lebow from Commodity Research Group or Ed Meir from Commodity Research Group. You can see us on the internet, that’s commodityresearchgroup.com, and you can get a hold of me and also Ed, the same way at email@example.com.
Thanks again for the opportunity to participate. I always learn something when I, especially on the metal side, which is a new new field for us. And if folks are interested in continuing to learn more about our industry, the oil and gas side, to supplement the talking podcast that we do to keep you current on industry events, we now have a weekly newsletter called energized, which is a blog and links to important websites that that will keep you current on what’s happening in this important industry. It can be firstname.lastname@example.org
I would like to thank everyone for listening.