Top Managed Futures News, Listings, Member Posts, Managed Futures Daily Indices and more!

2yrs ago Managed Futures blog.pricegroup Views: 514

The oil market continued it’s come back as the bull market is firmly re-establishing itself. The market surged with reports that Russia is ready to introduce a ban and gasoline exports as soon as next week amid record high wholesale prices on the Russian exchange. Bloomberg news reported that the price of 95 octane gasoline exceeded 60,000 rubles for the first time in history of the Saint Petersburg international Mercantile exchange. This report shows that the global market for product is tight and is also very supportive for the price of oil. The news drove our RBob gasoline futures and crude oil went along for the ride.

This news is not insignificant because according to Bloomberg, Russia exported 5,830,000 tons of gasoline or 15% of its total production. That means the buyers of Russian gasoline will have to find product elsewhere and we know, based on current inventory numbers, that those supplies are getting harder to find.

It’s has also been reported that China released 20 million barrels of sour crude to try to cool down oil prices. We think this will backfire on China because sometimes when you release oil to try to cool down prices it only feeds a stronger sentiment in the market. The reason why supplies are tight is due to demand being ravenous so those extra barrels will only encourage more demand because prices will be lower.

So sum sum things up for the crude oil market, we have to look at all the following. We have seen the return of gasoline demand. Jet fuel demand is coming back as well with the re-opening of the economy and trade is going pretty strong. We still have to live with some concerns about covid-19 variants. It does not look like we’re anywhere close to lifting sanctions on Iranian oil. And OPEC plus is showing extreme discipline on the production side. Supplies at the Cushing, Oklahoma delivery point have been falling and are getting to the lowest levels we’ve seen since 2018 and could be headed towards their minimum operating levels. So what we’re saying is basically most of the fundamentals driving the energy sector are still extremely bullish. Unless we get a headline to the contrary, one would assume that we are going to resume the bull market and stretch out to new highs in the next couple of weeks.

John Kemp at Reuters points out that, “U.S. natural gas prices have hit multi year high which should conserve the scarce stocks of natural gas. Camp says he expects more gas focus drilling and switch back towards coal fire generation this summer. In the meantime the heat wave that’s going to come across the country is going to keep those air conditioners humming. Electricity generation is going to be strong and that is going to support natural gas prices.

Thanks,
Phil Flynn

Take the time to invest in yourself and tune to the Fox Business network because they are invested in you!

You can also sign up today for the Phil Flynn Daily Trade Levels that cover every major futures market and can be used for day trading, swing trading and position training with entry, exit and stop points. Just call Phil Flynn today at 888-264-5665 or you can email [email protected]


Today's Managed Futures Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.