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Matt Smith

China woes hit pause for crude rally

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Suckerpinch, suckerpunch, for the first day of the month. We kick off September carrying the baggage that we picked up last month – that of economic fears ignited by China. Overnight PMI numbers from the world’s largest energy consumer (and second largest economy) has done little (well, nothing) to dissuade this notion. The official PMI […]
Categories: Crude oil
Specialist Michael Pistillo, left, works with traders Gregory Rowe, center, and William McInerney on the floor of the New York Stock Exchange, Thursday, Aug. 27, 2015. U.S. stocks closed sharply higher after China's main stock index logged its biggest gain in eight weeks.  The Dow Jones industrial average climbed 369.26 points, or 2. 3 percent, to 16,654.77. (AP Photo/Richard Drew)

Oil market screaming lower to start the week

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Allrightee folks, this week is set to be a scream (R.I.P. Wes Craven) as we shimmy from August into September (hark, 114 shopping days until Xmas), and into a deluge of new economic data. Chinese equities overnight have wilted into the end of the month, racking up a 12.5% loss for August, while we’ve had […]
Categories: Crude oil, Gasoline

Crude retracing after a rampant rally

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On this final Friday in August, the crude complex is looking lower into the weekend after yesterday’s nutty 10% rally. The rollercoaster ride across financial markets continues apace, with Chinese equities rallying nearly 5% amid further market intervention from Chinese authorities to prop it up up. Overnight we have had a number of economic data […]

Commentary: 10 challenges faced by the global LNG market

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We recently looked at the restart of the first Japanese nuclear reactor in four years, and assessed its impact on Japanese oil demand. It was somewhat burying the lede, however, not to address the impact on LNG demand. So with Japan’s developments still fresh in our minds, here are ten challenges faced by the global LNG […]

Commentary: Crude swept along with the improving mood in global markets

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To celebrate Pee Wee Herman’s 63rd birthday, markets are having their own big adventure today. Overnight equity markets have been racing higher, catching up with yesterday’s effervescent rally in the US. Just as we saw a vicious cycle of selling earlier in the week, positive sentiment is traveling across the time zones like a game […]
Categories: General
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Stabilizing markets overnight give way to a midweek crude move higher

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After last week’s EIA inventory report yielded a lower refining/higher imports-sponsored build to crude stocks, last night’s 7.3 million barrel drop from the API report is indicating we should see a fairly hefty draw from the EIA this morning. After last night’s last-minute sell-off in US equities, risk appetite has picked itself up again and […]
Categories: Gasoline
(Fotolia)

Commentary: What a nuclear restart means for Japanese oil demand

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With so much focus on the level of Chinese oil imports, impending US LNG exports, and India’s rising coal consumption, it goes somewhat by the wayside that Japan is one of the largest global consumers of all three of these commodities. Japan is the third largest consumer of oil (although soon to be fourth), the […]
Categories: LNG
Photographer: Andrey Rudakov/Bloomberg

Commentary: A Potential Turning Point in Commodities?

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Part of life is accepting your shortcomings, and trying to move beyond them. For example, I have had to come to terms with the fact I will never be able to dunk, or write ‘citizen’ without questioning its spelling. (Every single time). When it comes to trading, there is a limitation known as cognitive dissonance, […]

Commentary: The Latest Lifting of Fuel Subsidies in the Middle East

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In recent days the United Arab Emirates (UAE) has announced it will be cutting fuel subsidies starting August 1. It joins a growing list of countries that are taking the opportunity from a precipitous drop in oil prices in the last year to unwind longstanding subsidies. While advantageous for the Gulf state’s finances, the brunt of […]

Commentary: Key turning points in the energy complex

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(source: Wikipedia) To be honest, I had not heard of the phrase ‘Jumping The Shark‘ until recently (I’m not talking about surfer Mick Fanning either). It’s not like I didn’t watch ‘Happy Days’ when I was growing up, I just don’t remember that episode. For those unaware, ‘Jumping The Shark‘ is a term used to […]