Hints and tips:
...WTI, the US benchmark, gained $2.16 to $121.56 a barrel....
...The accountability level for crude oil is 10m barrels’ worth of contracts — a long way below USO’s peak holdings....
...“ICE would love this to be a giant contract,” says Campbell Faulkner, chief data analyst at OTC Global Holdings, a Houston-based energy broker....
...Mr Trump won 61 per cent of the vote in Arkansas and, buoyed by support in other rust belt and southern states, took the White House....
...The Treasury’s Government Account (TGA) deposits at the Fed, another line item on the liability side of the balance sheet, does not rust the plumbing....
...Brent crude is up 0.7 per cent at $63.57 a barrel and WTI, the US benchmark, is 0.4 per cent higher at $57.54 a barrel....
...With US companies holding $2.1tn abroad to avoid paying taxes (the largest chunk of it horded by intellectual property rich firms), and wages stagnant, this argument will only gain steam....
...Virtu had said Mr Viola would step down as chairman if confirmed, though it said TJMT Holdings, a Viola family trust, would continue to be the company’s majority shareholder....
...In Asian trade on Thursday, Brent was down 0.1 per cent at $48.65 a barrel and WTI was up 0.2 per cent at $47.13....
...is holding above $40....
...Public scrutiny of any deal involving the UK’s rust belt steel industry is high. Better for Greybull to seek support than risk demonisation as a furtive financial fly-by-night....
...The drop for stocks came even as crude oil maintained an early advance that had provided Wall Street with some much-needed initial support, with both Brent and WTI holding well above the $30 a barrel mark...
...Both Brent and WTI are now within $4 a barrel of surpassing the lows hit at the depths of the financial crisis, but unlike 2008/9, this time the crash has not been caused by a sudden collapse in demand....
...The Brent crude April contract is down 1.2 per cent to $33.82 a barrel and the US-based WTI contract for March is losing 1.5 per cent to $31.16....
...Investors buying and holding an oil ETF have the odds stacked against them....
...WTI had fallen about 50 per cent since June 2014, but borrowing bases were typically cut by only about 15 per cent. There is still new financing available for E&P companies in the debt markets, too....
...“Prompt-month WTI contracts are starting to feel the pinch of mounting crude oil storage concerns,” said Michael Loewen, commodity strategist at TD Securities....
...Meanwhile, WTI prices, the US benchmark, fell more than 10 per cent to $66.15 a barrel. Carnival Corp gained 5 per cent to $44.16....
...Nymex July WTI crude was about $107 per barrel early on Monday, close to its highest level so far this year....
...The upward moves followed the after-the-bell release of mixed earnings statements from several Japanese banks and airlines on Thursday, including Nomura and ANA Holdings, the parent of All Nippon Airways...
...We suggest holding on to the time spread until late this year (and then decide at that time whether to hold it for longer if the market remains very over supplied)....
...“WTI Cushing [the US benchmark] is from a bunch of fields. Brent is at least four major brand names. Dubai crude is three names....
...Related links: Online showrooms and digital dealerships revolutionise car buying – FT Mind the WTI-Brent spread! – FT Alphaville The crude market in perspective - FT Alphaville...
...“Before Brent came into the index … we wouldn’t necessarily have had a core holding in Brent,” said Peter Kocubinski, who manages $150m as head of JP Morgan Asset Management’s commodity investment team....
...Asian stocks fell and WTI crude oil rallied above $100for the first time in nine months on political turmoil in Egypt and shrinking US stockpiles....
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