Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Commodities

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>As US rate hikes are pushed out, the long end of the bond market continues to weaken</li>
<li>October should provide the resolution as to whether the market catches up or catches down</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
As US rate hikes are pushed out, the long end of the bond market continues to weaken
October should provide the resolution as to whether the market catches up or catches down


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.

<ul><li>Crude oil futures pared early losses on Thursday as geopolitical tensions and the crunch on refined products offset the bounce in supplies from the Middle East.</li><li>Front-month Dec26 ICE  Brent futures were 4.6% higher at $ 102.49/b (2054 BST), while Nov26 NYMEX  WTI was at $93.14/b , up 3% versus Wednesday's settle.</li><li>Oil prices rebounded on reports that China would implement a ban on refined product exports, adding to Russia's suspension on fuel exports and the US weighing up its own diesel ban.</li></ul>

Crude oil futures pared early losses on Thursday as geopolitical tensions and the crunch on refined products offset the bounce in supplies from the Middle East.Front-month Dec26 ICE  Brent futures were 4.6% higher at $ 102.49/b (2054 BST), while Nov26 NYMEX  WTI was at $93.14/b , up 3% versus Wednesday's settle.Oil prices rebounded on reports that China would implement a ban on refined product exports, adding to Russia's suspension on fuel exports and the US weighing up its own diesel ban.

Oil futures: Crude higher amid ongoing tensions, products crunch

<ul><li>Crude oil futures were consolidating the previous session's firm gains on Friday amid stalled talks between the US and Iran, plus fears of a further military build-up in the Middle East.</li><li>Front-month Dec26 ICE  Brent futures were 0.25% higher at $102.57/b (0140 BST), while Nov26 NYMEX WTI was at $93.02/b , up 0.15% versus Thursday's settle.</li><li>Prices moved higher on Thursday following US media reports that the aircraft carrier USS Theodore Roosevelt will arrive in the region by the end of November.</li></ul>

Crude oil futures were consolidating the previous session's firm gains on Friday amid stalled talks between the US and Iran, plus fears of a further military build-up in the Middle East.Front-month Dec26 ICE  Brent futures were 0.25% higher at $102.57/b (0140 BST), while Nov26 NYMEX WTI was at $93.02/b , up 0.15% versus Thursday's settle.Prices moved higher on Thursday following US media reports that the aircraft carrier USS Theodore Roosevelt will arrive in the region by the end of November.

Oil futures: Crude consolidates gains as geopolitical tensions rise

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>News that the U.S. is sending another aircraft carrier to the Gulf plus renewed tanker attacks provides support for our thesis, though the carrier move is a “rotation.”    </li>
<li>Nonetheless, the carrier rotation in tandem with the tanker attacks do not serve as a foundation for building mutual trust, as the “proposals” intended.</li>
<li>While none of this <em>guarantees</em> a renewal of major military action, at the least it does not <em>negate</em> our previously discussed fourth quarter scenario</li>
</ul>


News that the U.S. is sending another aircraft carrier to the Gulf plus renewed tanker attacks provides support for our thesis, though the carrier move is a “rotation.”    
Nonetheless, the carrier rotation in tandem with the tanker attacks do not serve as a foundation for building mutual trust, as the “proposals” intended.
While none of this guarantees a renewal of major military action, at the least it does not negate our previously discussed fourth quarter scenario


Morning Market Notes: U.S. Aircraft Carrier Moves, Tanker Attacks Support Our Fourth Quarter Thesis

<ul><li>Crude oil futures were climbing higher on Wednesday as negotiations between the US and Iran reached another stalemate in New York after Washington pushed back on a key condition from Tehran.</li><li>Dec26 ICE Brent futures were 2% higher at  $98.10/b (2029 BST), while Nov26 NYMEX  WTI was at $90.56/b , up 1.3% versus Tuesday's settle.</li><li>Benchmarks recovered from one-week lows after US President Donald Trump rejected the possibility of lifting sanctions on Iran, which Tehran's negotiating team has insisted is a prerequisite before moving forward.</li></ul>

Crude oil futures were climbing higher on Wednesday as negotiations between the US and Iran reached another stalemate in New York after Washington pushed back on a key condition from Tehran.Dec26 ICE Brent futures were 2% higher at  $98.10/b (2029 BST), while Nov26 NYMEX  WTI was at $90.56/b , up 1.3% versus Tuesday's settle.Benchmarks recovered from one-week lows after US President Donald Trump rejected the possibility of lifting sanctions on Iran, which Tehran's negotiating team has insisted is a prerequisite before moving forward.

Oil futures: Crude higher as Trump pushes back on Iran terms

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)

Overview #80 — The Equaliser

A review of recent events/data impacting our investment themes and outlook. We look at rate hike expectations in the US post the recent economic...

Rikki Malik

Oil futures: Crude higher amid ongoing tensions, products crunch

Crude oil futures pared early losses Thursday as geopolitical tensions and the crunch on products offset the bounce in Middle East supplies...

Quantum Commodity Intelligence

Oil futures: Crude consolidates gains as geopolitical tensions rise

Crude oil futures were consolidating the previous session's firm gains on Friday amid stalled talks between the US and Iran, plus fears of a...

Quantum Commodity Intelligence

Morning Market Notes: U.S. Aircraft Carrier Moves, Tanker Attacks Support Our Fourth Quarter Thesis

U.S. aircraft carrier movement, new tanker attacks in the Strait of Hormuz all support our fourth quarter thesis that a deal will remain elusive...

William H Brown III

Oil futures: Crude higher as Trump pushes back on Iran terms

Crude oil futures were climbing higher as negotiations between the US and Iran reached another stalemate in New York....

Quantum Commodity Intelligence

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