IE Week in Focus | S6 E10
Listen now
Description
It's been another rangebound, albeit less bullish week in Brent futures. Crude prices came off from around $84/bbl. down to the low 80s, where it found some support on Monday. As for the refinery margin change, Dated Brent is significantly weaker. There were some significant moves in gasoline and gasoil. The latter saw a real weakness in prices amid poor European demand. Martha also looked into American refinery margins, which is also weak across the whole gasoil complex and heating oil especially. James Brodie weighs in for macro news headlines. The big news for last week was that the Nvidia earnings soared and 34 years later, while Nikkei finally broke above its 1989 high. Off the back of these huge Nvidia earnings, Greg raises an important discussion regarding the tech bubble. If everyone is in wait and see mode, regarding the tech bubble, does that not tell you that a recession is unlikely? Martha wraps up the podcast with her fuel oil trade idea, to sell the Apr/May 3.5% spread. There are both fundamental and financial flows factors with the fuel oil stock levels in the ARA being relatively high. Make sure to follow us on X, as Vincent will be posting about the Brent expiry. Follow us @Onyx__Edge. For weekly data insights, subscribe to our newsletter on LinkedIn: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7148228862387109888 If you would like to connect with any of our hosts on LinkedIn, please click on the hyperlinks below: Greg Newman:  https://www.linkedin.com/in/oilderivatives/ Vincent Wu:    https://www.linkedin.com/in/vincent-wu-099816125/ Martha Dowding: https://www.linkedin.com/in/martha-dowding-ab84801a6/ James Brodie:  https://www.linkedin.com/in/jamesbrodiecmt/ Chapters for this episode are:  0:00 Welcome  1:30 This Week in Trading  6:25 Refinery Margins 8:57 Macro Market News  13:39 "Googling Oil:" World Oil News  17:47 Trade Idea 21:02 Brent Forecast 24:07 Poll Results and Outro
More Episodes
Brent Futures have been volatile and rangebound this week, dropping to around $81/bbl and supported again over $84/bbl. With the OPEC meeting next week (and being held online), there's been conversation that Russia has overproduced oil output, but will be correcting lower after not adhering to...
Published 05/29/24
Published 05/29/24
On today's show, James focuses on the stronger-than-expected US economic data, which has pushed yields higher. He also discusses the growing concerns around employment, the booming Indian economy, weakening UKL data, and unfortunate timing with the election looming. Some charts and trade ideas...
Published 05/27/24