World of Oil Derivatives Greg Newman

Crude futures climbed over the week, surpassing $84/bbl on Monday morning, which was the first weekly gain in 3 weeks.Heating oil and gas oil were the most negative in the refinery margin change this week. We saw strength come back into EBOB and Gasoil which has helped the products we look at in the swaps market in Europe see greater strength.James says the macro news last week was the US CPI data, which is falling again. There was also weaker than expected retail sales and industrial product...

On today's show, James discusses the recent break out in the equity markets, and the huge surge higher in commodities with a particular focus on silver. Copper and Gold are at all-time highs and silver has broken out aggressively from of a key resistance level at $30, which previously acted as triple top. Nickle, Tin, Zinc, Aluminium and other metals are surging higher and even orange juice is trading at all-time highs.Last week's data has created some interesting moves in the markets. US CPI...

Brent crude is consolidating around $82-83/bbl. The big story over the weekend was Iraq’s oil minister, Hayyan Abdul, saying on Saturday that Iraq would not agree to renew cuts, but flipped on Sunday, saying that Iraq will continue to cooperate with other member states about this cut. Looking to the refinery margins, spreads have collapsed with stop outs driving the movement. There was a significant drop in RBBR, down to just $21.50/bbl in Jul. There has been a build in EIA gasolin...

Welcome back to Macro Mondays with James Brodie - Trends, Risk & Analysis. On today's show James looks back on last week's disappointing data, this weeks upcoming CPI data, and key levels in markets, particularly looking at equities, fixed income and also gold. Precious metals are rallying again. The PBOC bought gold for 18th straight month in April, adding 60k Troy ounces to its reserves. In fact, Global central banks have bought 2,100 tonnes of gold in the last 2 years.&...

If you would like to access our free comprehensive monthly oil report as mentioned in the podcast, click here: https://www.onyxhub.co/dashboards/oil-market-report-may/In last week's podcast, we had started to see pressure in the crude futures contracts, and we've slid to a new low of this cycle today at $82.30/bbl.Refinery margins were the major reason for bullish Brent over the past few months, however now it’s the major reason market sentiment has flipped. Margins have strengthened sl...

Welcome back to the third episode of Macro Mondays with James Brodie - Trends, Risk & Analysis.On today's show James discusses softening economic data out of the US, where there are murmurs of stagflation, the less hawkish Fed Chairman Powell and the weaker than expected employment data.He also examines the big movers for this week. USDJPY with 2 rounds of intervention and cocoa has also fallen 41.5% in just 3 days. There's no key economic data in the week ahead so the market will trend o...