Independent Price Reporting Agency, QC Intel

Quantum Commodity Intelligence

Independent Price Reporting Agency

QC Intel

We are an independent price reporting agency (PRA) providing price assessments, original news and trade data for the global energy transition markets.

Our mission is to bring greater transparency to these rapidly developing markets, powering transactions and helping the world to decarbonize as efficiently as possible.

Commodities

<ul><li>Crude oil futures were trading sideways on Wednesday as a huge build in US inventories balanced out a market still watching for signs of a change to restricted traffic through the Strait of Hormuz.</li><li>Oct26 ICE Brent was down 0.2% on the day in a choppy session at  $88.71/b at 2045 BST, while September NYMEX WTI was off 0.4% at  $82.91/b .</li><li>The benchmarks have gained sharply since the start of the week, including an advance of about 5% on Monday, and recorded their highest settlements since 31 July earlier in the session as the nearby Brent contract peaked at $90.09/b before retreating.</li></ul>

Crude oil futures were trading sideways on Wednesday as a huge build in US inventories balanced out a market still watching for signs of a change to restricted traffic through the Strait of Hormuz.Oct26 ICE Brent was down 0.2% on the day in a choppy session at  $88.71/b at 2045 BST, while September NYMEX WTI was off 0.4% at  $82.91/b .The benchmarks have gained sharply since the start of the week, including an advance of about 5% on Monday, and recorded their highest settlements since 31 July earlier in the session as the nearby Brent contract peaked at $90.09/b before retreating.

Oil futures: Crude sideways after big US build, Hormuz watched

<ul><li>Crude oil futures pared earlier gains Tuesday on reports a US-Iran peace deal was close, after fresh attacks on shipping in the Red Sea and Gulf of Oman pushed benchmarks higher.</li><li>Oct26 ICE  Brent futures were up 1.3% from Monday's close at $88.89/b at 2022 BST, having earlier topped $90/b, while Sep26 NYMEX  WTI was 1.4% higher at higher at  $83.24/b .</li><li>Benchmarks softened after Pakistan signalled progress on an Iran-US deal that could see commercial shipping return to the Strait of Hormuz.</li></ul>

Crude oil futures pared earlier gains Tuesday on reports a US-Iran peace deal was close, after fresh attacks on shipping in the Red Sea and Gulf of Oman pushed benchmarks higher.Oct26 ICE  Brent futures were up 1.3% from Monday's close at $88.89/b at 2022 BST, having earlier topped $90/b, while Sep26 NYMEX  WTI was 1.4% higher at higher at  $83.24/b .Benchmarks softened after Pakistan signalled progress on an Iran-US deal that could see commercial shipping return to the Strait of Hormuz.

Oil futures: Brent pulls back on reports of US-Iran deal

Independent Energy Equities & Commodities Research, WHB Energy Research LLC

William H Brown III

Independent Energy Equities & Commodities Research

Independent energy equity and commodity boutique

WHB Energy Research LLC

WHB Energy Research LLC is an independent energy industry equity and commodity boutique
providing analysis and trading/investment recommendations to hedge funds, mutual funds, oil
and gas producing companies, energy consuming companies and high net worth individuals.
WHB Energy Research LLC fills a major void by providing top level fundamental and
qualitative research complemented by state of the art quantitative modeling. WHB Energy
Research LLC also engages in physical oil trading activity as an agent/intermediary and also
provides expert witness consultation and testimony. From 2003-2005 Mr. Brown established and
managed an energy hedge fund for a single investor/client. Specialties: Economic and financial
analysis and forecasting of the NYMEX, ICE, and international physical petroleum markets and
energy equities in the integrated, independent producer, refining, drilling, service, and
transportation sectors.

<ul>
<li>Oil market participants are now trying to decide if the prompt NYMEX crude oil contract can challenge the upper end of our previously delineated trading range.          </li>
<li>We will see over the next few days whether traders are anticipating “duration,” i.e. a further tightening of the market, or renewed strikes if President Trump’s patience runs out again.                     </li>
<li>We will be so bold to suggest that the “duration” scenario would imply a slow and progressive rise in oil prices, whereas the military scenario would imply increased volatility.              </li>
</ul>


Oil market participants are now trying to decide if the prompt NYMEX crude oil contract can challenge the upper end of our previously delineated trading range.          
We will see over the next few days whether traders are anticipating “duration,” i.e. a further tightening of the market, or renewed strikes if President Trump’s patience runs out again.                     
We will be so bold to suggest that the “duration” scenario would imply a slow and progressive rise in oil prices, whereas the military scenario would imply increased volatility.              


Morning Market Notes: For Crude Oil Prices, a Slow and Steady Rise, or Extreme Volatility?

<ul><li>Crude futures opened the week higher as Iran dug in on its conditions to open the Strait of Hormuz, while investors continued to face uncertainty around the wider geopolitical situation.</li><li>Oct26 ICE  Brent futures were 4.5% higher at $87.34/b (2029 BST), versus an intraday high of $87.93/b, while Sep26 NYMEX WTI was at $81.85/b , up 4.7% versus Friday's settle.</li><li>Prices firmed after Iran's Supreme National Security Council set out a list of six conditions over the weekend it says must be met before the Strait of Hormuz can fully reopen.</li></ul>

Crude futures opened the week higher as Iran dug in on its conditions to open the Strait of Hormuz, while investors continued to face uncertainty around the wider geopolitical situation.Oct26 ICE  Brent futures were 4.5% higher at $87.34/b (2029 BST), versus an intraday high of $87.93/b, while Sep26 NYMEX WTI was at $81.85/b , up 4.7% versus Friday's settle.Prices firmed after Iran's Supreme National Security Council set out a list of six conditions over the weekend it says must be met before the Strait of Hormuz can fully reopen.

Oil futures: Crude higher amid tense standoff over Strait of Hormuz

<ul>
<li>Given yesterday’s rally, oil market participants may believe, correctly in our view, that the Strait of Hormuz will be “closed” indefinitely</li>
<li>In addition, however, some funds also believe, also possibly correctly, that President Trump will lose patience with “waiting it out” and launch major military strikes down the road.                    </li>
<li>We have pulled our recommendation to buy NYMEX CL calendar spreads because the market now believes that the stalemate will last longer than anticipated.             </li>
</ul>


Given yesterday’s rally, oil market participants may believe, correctly in our view, that the Strait of Hormuz will be “closed” indefinitely
In addition, however, some funds also believe, also possibly correctly, that President Trump will lose patience with “waiting it out” and launch major military strikes down the road.                    
We have pulled our recommendation to buy NYMEX CL calendar spreads because the market now believes that the stalemate will last longer than anticipated.             


Morning Market Notes: Indefinite Stalemate or Will President Trump Run Out of Patience?

United States

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

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Crude Oil (CL1 COM COMDTY)

Oil futures: Crude sideways after big US build, Hormuz watched

Crude oil futures were trading sideways on Wednesday as a huge build in US inventories balanced out a market............

Quantum Commodity Intelligence

Oil futures: Brent pulls back on reports of US-Iran deal

Crude oil futures extended the early-week sharp gains on Tuesday as widening differences between the US and Iran dimmed hopes of an agreement...

Quantum Commodity Intelligence

Morning Market Notes: For Crude Oil Prices, a Slow and Steady Rise, or Extreme Volatility?

Oil market participants are debating if NYMEX crude oil can reach upper end of our trading range, anticipating market tightening or increased...

William H Brown III

Oil futures: Crude higher amid tense standoff over Strait of Hormuz

Crude futures opened the week higher as Iran dug in on its conditions to open the Strait of Hormuz, while investors continued to face uncertainty...

Quantum Commodity Intelligence

Morning Market Notes: Indefinite Stalemate or Will President Trump Run Out of Patience?

Oil traders and funds anticipate the Strait of Hormuz will be closed indefinitely, leading to a shift in market sentiment. Some funds also predict...

William H Brown III

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Oil futures: Crude sideways after big US build, Hormuz watched

Crude oil futures were trading sideways on Wednesday as a huge build in US inventories balanced out a market............

Quantum Commodity Intelligence

Oil futures: Brent pulls back on reports of US-Iran deal

Crude oil futures extended the early-week sharp gains on Tuesday as widening differences between the US and Iran dimmed hopes of an agreement...

Quantum Commodity Intelligence

Morning Market Notes: For Crude Oil Prices, a Slow and Steady Rise, or Extreme Volatility?

​Oil market participants are debating if NYMEX crude oil can reach upper end of our trading range, anticipating market tightening or increased...

William H Brown III

Oil futures: Crude higher amid tense standoff over Strait of Hormuz

Crude futures opened the week higher as Iran dug in on its conditions to open the Strait of Hormuz, while investors continued to face uncertainty...

Quantum Commodity Intelligence

Morning Market Notes: Indefinite Stalemate or Will President Trump Run Out of Patience?

​Oil traders and funds anticipate the Strait of Hormuz will be closed indefinitely, leading to a shift in market sentiment. Some funds also predict...

William H Brown III

Oil market participants are debating if NYMEX crude oil can reach upper end of our trading range, anticipating market tightening or increased...

Oil traders and funds anticipate the Strait of Hormuz will be closed indefinitely, leading to a shift in market sentiment. Some funds also predict...