Chart 6: Gasoline Stocks in the United States
In summary, it is not wrong to see Brent Oil prices flirt with $60/bbl. given the demand and inventory situation as described above. Going forward from here, a lot will depend on how Winter develops. Given the risk reward, Oil looks quite stable here.
An important point to note is that Commodities are a resource. Either we need them or we don’t. Near term (spot) prices can rise very sharply in a short period of time if the supply is not available for that period of time. There is no doubt we can see supply match demand over the medium term but near term dynamics and inventory tightness do matter. In this case, either prices reach a level where demand is curbed, or supply catches up. It’s that simple.
Maleeha Bengali E:
mb@mbcommoditycorner.com T: +971(0) 5675 945 25
Source: JKempEnergy Chart 7: Distillate Fuel Oil Inventories in the United States
Maleeha Bengali - Founder, MB Commodity Corner This message and attachments are for the sole use of the addressee and are privileged, confidential and exempt from disclosure. If you are not the addressee, copying, dissemination, or distribution of this communication is strictly prohibited. You must delete the email and destroy any copies. In publishing research and investment recommendations, MB Commodity Corner Limited is not soliciting any action based upon it. MB Commodity Corner Limited’s publications contain material based upon publicly available information, obtained from sources that we consider reliable. However, MB Commodity Corner Limited does not represent that it is accurate and it should not be relied on as such. Opinions expressed are current opinions as of the date appearing on MB Commodity Corner Limited’s publications only. All forecasts and statements about the future, even if presented as fact, should be treated as judgements, and neither MB Commodity Corner Limited nor its partners can be held responsible for any failure of those judgements to prove accurate. It should be assumed that, from time to time, MB Commodity Corner Limited and its partners will hold investments in securities and other positions, in equity, bond, currency and commodities markets, from which they will benefit if the forecasts and judgments about the future presented in this document do prove to be accurate. MB Commodity Corner Limited is not liable for any loss or damage resulting from the use of its product. Past Performance is not indicative of Future Results.
Source: JKempEnergy
Published on 31 October, 2017 Please contact Maleeha for the source of the charts.
37 | ADMISI - The Ghost In The Machine | November/December 2017
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