Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>YTD sideways congestion for the MSCI ACWI ex-US and an intact downtrend for the MSCI EM index continue to point to a risk-off environment for international equity markets, and supports our neutral outlook<em>.</em> We continue to recommend avoiding broad indexed exposure in favor of selectivity. In today’s report we highlight actionable country- and Sector-specific themes within Norway, India, Japan and Australia.</p>

YTD sideways congestion for the MSCI ACWI ex-US and an intact downtrend for the MSCI EM index continue to point to a risk-off environment for international equity markets, and supports our neutral outlook. We continue to recommend avoiding broad indexed exposure in favor of selectivity. In today’s report we highlight actionable country- and Sector-specific themes within Norway, India, Japan and Australia.

Global Ex-U.S. & EM Continue to Point to Risk-Off Environment

Global Cross-Asset Energy Analyst, VAC Investments

Aaditya Chintalapati, CFA

Global Cross-Asset Energy Analyst

VAC Investments

Thematic (Sector/Industry)

<h2>Oil Price</h2><p>Crude Oil prices remained fairly flat for the week, with markets awaiting further clarity on OPEC + Russia's likely production increases at their meeting later this month. WTI ended the week at USD 65.67/bbl (flat w/w) while Brent ended at USD 76.37/bbl. Crucially, the Brent/WTI spread remains elevated at c.USD 11/bbl, likely driven by continued robust US production growth. </p><hr><h2>Last Week in E&amp;Ps</h2><p><strong><a href="https://www.smartkarma.com/entities/22143" target="_blank" data-smartkarma-citation="entities:22143:1">Soco International PLC (SIA LN)</a></strong> ,<strong> 07 Jun</strong> - We like Soco's high-quality Vietnam production and…</p>

Oil PriceCrude Oil prices remained fairly flat for the week, with markets awaiting further clarity on OPEC + Russia's likely production increases at their meeting later this month. WTI ended the week at USD 65.67/bbl (flat w/w) while Brent ended at USD 76.37/bbl. Crucially, the Brent/WTI spread remains elevated at c.USD 11/bbl, likely driven by continued robust US production growth. Last Week in E&amp;PsSoco International PLC (SIA LN) , 07 Jun - We like Soco's high-quality Vietnam production and…

<h2>Oil Price</h2><p>Crude continues its relentless rise, with Brent briefly hitting USD 80/bbl for the first time in 4 years this week, before ending the week at USD 78.87. WTI similarly ended the week at USD 71.53. Continued OPEC + Russia compliance on oil quotas, coupled with robust Asian demand amidst risks of prolonged Iranian export disruptions underpin the oil price rally, more than making up for steady US oil production growth. We would expect the broader upward trend to stay in the near-term, with…</p>

Oil PriceCrude continues its relentless rise, with Brent briefly hitting USD 80/bbl for the first time in 4 years this week, before ending the week at USD 78.87. WTI similarly ended the week at USD 71.53. Continued OPEC + Russia compliance on oil quotas, coupled with robust Asian demand amidst risks of prolonged Iranian export disruptions underpin the oil price rally, more than making up for steady US oil production growth. We would expect the broader upward trend to stay in the near-term, with…

<h2>Oil Price</h2><p>Risk premia in the Crude Oil complex continued to underpin the oil price rally this week, with WTI and Brent ending the week up c.1.4% and 3%, respectively at USD 70.53/bbl and USD 76.94/bbl. Whilst the US withdrawal from the Iran Nuclear Deal, followed by renewed tensions in Syria - are expected to shape near-term market sentiment and keep the bullish bias, we anticipate only a modest impact to physical oil production and inventories at the moment. US sanctions on Iran could take up to…</p>

Oil PriceRisk premia in the Crude Oil complex continued to underpin the oil price rally this week, with WTI and Brent ending the week up c.1.4% and 3%, respectively at USD 70.53/bbl and USD 76.94/bbl. Whilst the US withdrawal from the Iran Nuclear Deal, followed by renewed tensions in Syria - are expected to shape near-term market sentiment and keep the bullish bias, we anticipate only a modest impact to physical oil production and inventories at the moment. US sanctions on Iran could take up to…

<h2>Oil Price</h2><p>Crude Oil had a strong week, with WTI and Brent +10% over the week, closing at USD 65.87/bbl and USD 70.5/bbl, respectively. The significant outperformance was largely driven by heightened geopolitical risk around the Iran Nuclear Deal, continued strong oil demand growth YTD in 2018, and an increased likelihood that the OPEC/Russia deal goalposts could be moved to extend it beyond Y/e-18. Crucially, we would argue the equity markets remain sceptical of the recent rally, with the…</p>

Oil PriceCrude Oil had a strong week, with WTI and Brent +10% over the week, closing at USD 65.87/bbl and USD 70.5/bbl, respectively. The significant outperformance was largely driven by heightened geopolitical risk around the Iran Nuclear Deal, continued strong oil demand growth YTD in 2018, and an increased likelihood that the OPEC/Russia deal goalposts could be moved to extend it beyond Y/e-18. Crucially, we would argue the equity markets remain sceptical of the recent rally, with the…

Norway

DNO ASA is an oil and gas operator focused on onshore and offshore exploration, development and production. The Company operates in the North Sea, the Middle East, and Africa.

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DNO ASA (DNO NO)

Global Ex-U.S. & EM Continue to Point to Risk-Off Environment

YTD sideways congestion for the MSCI ACWI ex-US and an intact downtrend for the MSCI EM index continue to point to a risk-off environment for...

Vermilion Research

Global E&Ps: Energy Weekly Vol. 20

Oil PriceCrude Oil prices remained fairly flat for the week, with markets awaiting further clarity on OPEC + Russia's likely production increases...

Aaditya Chintalapati, CFA

Global E&Ps: Energy Weekly Vol. 17

Oil PriceCrude continues its relentless rise, with Brent briefly hitting USD 80/bbl for the first time in 4 years this week, before ending the week...

Aaditya Chintalapati, CFA

Global E&Ps: Energy Weekly Vol. 16

Oil PriceRisk premia in the Crude Oil complex continued to underpin the oil price rally this week, with WTI and Brent ending the week up c.1.4% and...

Aaditya Chintalapati, CFA

Global E&Ps: Energy Weekly Vol. 14

Oil PriceCrude Oil had a strong week, with WTI and Brent +10% over the week, closing at USD 65.87/bbl and USD 70.5/bbl, respectively. The...

Aaditya Chintalapati, CFA

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