Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>For the week ending 04/Apr, U.S. crude inventories rose by 2.6m barrels (vs. expectations of 2.2m rise), and gasoline stockpiles fell less than expected.</li>
<li>US natural gas inventories rose by 57 Bcf for the week ending 04/Apr, missing analyst expectations of a 60 Bcf build. Inventories are 2.1% below the 5-year seasonal average.</li>
<li>Trump cancelled BP and Shell’s licenses for gas projects in Venezuela. UBS lowered its price target for Chevron, Exxon, Occidental, Halliburton, and Schlumberger.</li>
</ul>


For the week ending 04/Apr, U.S. crude inventories rose by 2.6m barrels (vs. expectations of 2.2m rise), and gasoline stockpiles fell less than expected.
US natural gas inventories rose by 57 Bcf for the week ending 04/Apr, missing analyst expectations of a 60 Bcf build. Inventories are 2.1% below the 5-year seasonal average.
Trump cancelled BP and Shell’s licenses for gas projects in Venezuela. UBS lowered its price target for Chevron, Exxon, Occidental, Halliburton, and Schlumberger.


[ETP 2025/15] Tariff Pause Halts Slide in WTI and Henry Hub but U.S.-China Tensions Weigh on Prices

Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

<ul><li>*YTD our absolute return strategy is up 7,5% Commodities Crash after Trump’s Tariff Nightmare In his mission to re-shore critical industries, raise revenue for the U.S. and narrow the deficit, Trump rolled out aggressive tariffs on virtually all countries (except Russia, Cuba and North Korea).</li><li>The new 10% tariff baseline is roughly triple the average US tariff rate before Trump reclaimed power in January and the calculation behind each tariff rates seems insane.</li><li>“We will charge them approximately half of what they are and have been charging us,” Trump said of the reciprocal tariffs.</li></ul>

*YTD our absolute return strategy is up 7,5% Commodities Crash after Trump’s Tariff Nightmare In his mission to re-shore critical industries, raise revenue for the U.S. and narrow the deficit, Trump rolled out aggressive tariffs on virtually all countries (except Russia, Cuba and North Korea).The new 10% tariff baseline is roughly triple the average US tariff rate before Trump reclaimed power in January and the calculation behind each tariff rates seems insane.“We will charge them approximately half of what they are and have been charging us,” Trump said of the reciprocal tariffs.

Commodities Crash after Trump’s Tariff Nightmare

Geopolitical Analyst, Steno Research, Steno Research

Mikkel Rosenvold

Geopolitical Analyst, Steno Research

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>President Trump very clearly lost his patience over the weekend and sharpened his rhetoric against Putin sharply (Iran too – more on that later).</li><li>Trump is now threatening third-party tariffs on countries buying Russian oil – namely China and India, of course.</li><li>To me, this is a sign that Putin is dragging out the negotiations, leveraging the fact that he is in no hurry to reach a peace agreement.</li></ul>

President Trump very clearly lost his patience over the weekend and sharpened his rhetoric against Putin sharply (Iran too – more on that later).Trump is now threatening third-party tariffs on countries buying Russian oil – namely China and India, of course.To me, this is a sign that Putin is dragging out the negotiations, leveraging the fact that he is in no hurry to reach a peace agreement.

The Drill: The Commodity Doom-Loop into Liberation Day

<ul>
<li>For the week ending 28/Mar, U.S. crude inventories rose by 6.2m barrels (vs. expectations of 0.2k fall), and gasoline stockpiles fell less than expected.</li>
<li>US natural gas inventories rose by 29 Bcf for the week ending 28/Mar, exceeding analyst expectations of a 27 Bcf build. Inventories are 4.3% below the 5-year seasonal average.</li>
<li>Chevron sold its Texas gas assets for USD 525 million, while Exxon, Occidental, Schlumberger, and Aramco had their price targets cut.</li>
</ul>


For the week ending 28/Mar, U.S. crude inventories rose by 6.2m barrels (vs. expectations of 0.2k fall), and gasoline stockpiles fell less than expected.
US natural gas inventories rose by 29 Bcf for the week ending 28/Mar, exceeding analyst expectations of a 27 Bcf build. Inventories are 4.3% below the 5-year seasonal average.
Chevron sold its Texas gas assets for USD 525 million, while Exxon, Occidental, Schlumberger, and Aramco had their price targets cut.


[ETP 2025/14] WTI Plummets on Tariffs and OPEC Output Hike, Henry Hub Supported by Cooler Weather

<ul>
<li>For the week ending 21/Mar, U.S. crude inventories fell by 3.3m barrels (vs. expectations of 1.5m build), gasoline and distillate stockpiles fell less than expected.</li>
<li>US natural gas inventories rose by 37 Bcf for the week ending 21/Mar, in line with analyst expectations. Inventories are 6.5% below the 5-year seasonal average.</li>
<li>Shell to boost shareholder distributions to 40-50% of CFFO and cut costs by USD 5-7 billion by 2028. Exxon plans 250 layoffs in the UK by 2026.</li>
</ul>


For the week ending 21/Mar, U.S. crude inventories fell by 3.3m barrels (vs. expectations of 1.5m build), gasoline and distillate stockpiles fell less than expected.
US natural gas inventories rose by 37 Bcf for the week ending 21/Mar, in line with analyst expectations. Inventories are 6.5% below the 5-year seasonal average.
Shell to boost shareholder distributions to 40-50% of CFFO and cut costs by USD 5-7 billion by 2028. Exxon plans 250 layoffs in the UK by 2026.


[ETP 2025/13] WTI Climbs on Trade Disruptions, Moderate Weather Forecasts Cap Henry Hub

United States

Natural gas is a naturally occurring hydrocarbon gas mixture consisting primarily of methane, but commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium. It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure supplied by existing under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of chemical bonds in the gas.

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Natural Gas (NATURAL GAS COMDTY)

[ETP 2025/15] Tariff Pause Halts Slide in WTI and Henry Hub but U.S.-China Tensions Weigh on Prices

US oil inventories rise, gasoline stockpiles fall less than expected. Natural gas inventories miss analyst expectations. Trump cancels BP and...

Mint Finance

Commodities Crash after Trump’s Tariff Nightmare

The new 10% tariff baseline is roughly triple the average US tariff rate before Trump reclaimed power in January and the calculation behind each...

The Commodity Report

The Drill: The Commodity Doom-Loop into Liberation Day

President Trump very clearly lost his patience over the weekend and sharpened his rhetoric against Putin sharply (Iran too – more on that...

Steno Research

[ETP 2025/14] WTI Plummets on Tariffs and OPEC Output Hike, Henry Hub Supported by Cooler Weather

US oil inventories rose significantly, while gasoline stockpiles fell less than expected. Natural gas inventories also exceeded expectations,...

Mint Finance

[ETP 2025/13] WTI Climbs on Trade Disruptions, Moderate Weather Forecasts Cap Henry Hub

US oil inventories fell more than expected, while natural gas inventories rose in line with expectations. Shell to increase shareholder...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2025/15] Tariff Pause Halts Slide in WTI and Henry Hub but U.S.-China Tensions Weigh on Prices

​US oil inventories rise, gasoline stockpiles fall less than expected. Natural gas inventories miss analyst expectations. Trump cancels BP and...

Mint Finance

Commodities Crash after Trump’s Tariff Nightmare

The new 10% tariff baseline is roughly triple the average US tariff rate before Trump reclaimed power in January and the calculation behind each...

The Commodity Report

The Drill: The Commodity Doom-Loop into Liberation Day

President Trump very clearly lost his patience over the weekend and sharpened his rhetoric against Putin sharply (Iran too – more on that...

Steno Research

[ETP 2025/14] WTI Plummets on Tariffs and OPEC Output Hike, Henry Hub Supported by Cooler Weather

​US oil inventories rose significantly, while gasoline stockpiles fell less than expected. Natural gas inventories also exceeded expectations,...

Mint Finance

[ETP 2025/13] WTI Climbs on Trade Disruptions, Moderate Weather Forecasts Cap Henry Hub

​US oil inventories fell more than expected, while natural gas inventories rose in line with expectations. Shell to increase shareholder...

Mint Finance

US oil inventories rise, gasoline stockpiles fall less than expected. Natural gas inventories miss analyst expectations. Trump cancels BP and...

US oil inventories rose significantly, while gasoline stockpiles fell less than expected. Natural gas inventories also exceeded expectations,...

US oil inventories fell more than expected, while natural gas inventories rose in line with expectations. Shell to increase shareholder...