Some oil fundamentals… WSJ – Commodity Research Group

June 26, 2018 by Jim Colburn Leave a Comment

Christopher Alessi, WSJ, lays out factors driving recent price moves in oil here:

“The shutdown of a major oil-sands facility in Canada, known Syncrude, has bolstered crude prices amid signs the 360,000-barrel-a-day plant could be out of commission through July. Meanwhile, Libyan oil exports are expected to come under pressure amid heightened political tensions in the North African nation.

The boost to prices comes a day after both Brent and WTI closed down in the wake of a weekend decision by the Organization of the Petroleum Exporting Countries and its allies to begin increasing crude output by the start of next month by as much as 1 million barrels a day.”

From Barchart.com here are charts showing price action in WTI, WTI/Brent and the WTI front month spread:

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, 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 commodity hedging strategies.

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