OPEC has delivered real, impacting cuts but has communicated poorly to a bruised and low confidence paper market setup for a "beat". This misread or (temporary) misappreciation of the crude…
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Oil prices have now recovered back into the post OPEC/NOPEC range. With OPEC’s meeting tomorrow on 25th May, we look at the most plausible outcomes, what it means for the…
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Analysing hedging flows and chart technicals have provided key inflection points for oil prices. The picture, as it currently stands, suggests that oil prices are forming a floor on the…
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Last week’s selloff to last Friday’s low of $46.65 bbl in Brent caused a lot of psychological damage in the market. As it stands today, investor positioning has “cleaned up”,…
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Consumers have an attractive opportunity to layer in hedges at current levels. Short covering should provide short-term tailwind to prices and longer term, supply/demand balance picture is ticking more positive.
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Oil is down $10 bbl since recent highs, erasing all post OPEC/NOPEC price gains. Market struggles to explain the selling, as not driven by fundamentals. Momentum funds are in position…
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For consumers, coffee prices are at an interesting level to layer in protection hedges. We believe ICE Arabica will outperform Robusta. Both look attractive up to 2 years out. We…
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