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 06/Sept, US crude inventories increased by 0.8m barrels, lower than the 0.9m barrel forecast. Gasoline stockpiles rose unexpectedly, while distillate inventories grew more than anticipated.</li>
<li>US natural gas inventories rise 40 Bcf for the week ending 06/Sep, lower than analyst expectations of a 49 Bcf buildup. Inventories are 9.6% above the 5-year seasonal average.</li>
<li>BP, Occidental Petroleum, and Exxon Mobil see target price cuts. Schlumberger announces breakthrough in Lithium production.</li>
</ul>


For the week ending 06/Sept, US crude inventories increased by 0.8m barrels, lower than the 0.9m barrel forecast. Gasoline stockpiles rose unexpectedly, while distillate inventories grew more than anticipated.
US natural gas inventories rise 40 Bcf for the week ending 06/Sep, lower than analyst expectations of a 49 Bcf buildup. Inventories are 9.6% above the 5-year seasonal average.
BP, Occidental Petroleum, and Exxon Mobil see target price cuts. Schlumberger announces breakthrough in Lithium production.


[ETP 2024/37] Oil Prices Rebound but Weak Demand Limits Gains, Nat-Gas Rises on Output Cuts

<ul>
<li>US natural gas prices rose 7% for the week ending 06/Sep, boosted by higher cooling demand, rising LNG exports, falling output, and moderate build-up in US natural gas storage.</li>
<li>Henry Hub Put/Call volume ratio fell to 1.06 (10/Sep) from 1.17 (04/Sep) as put volumes fell by 17.9% WoW, while call volumes declined by 9.6%.</li>
<li>Put OI increased for expiries on 25/Sep, Oct, and Nov. While call OI picked up for contracts expiring in Dec, Jan, Feb, and Mar. </li>
</ul>


US natural gas prices rose 7% for the week ending 06/Sep, boosted by higher cooling demand, rising LNG exports, falling output, and moderate build-up in US natural gas storage.
Henry Hub Put/Call volume ratio fell to 1.06 (10/Sep) from 1.17 (04/Sep) as put volumes fell by 17.9% WoW, while call volumes declined by 9.6%.
Put OI increased for expiries on 25/Sep, Oct, and Nov. While call OI picked up for contracts expiring in Dec, Jan, Feb, and Mar. 


[US Nat Gas Options Weekly 2024/36] Henry Hub Up on LNG Exports, Output Cut Offsets Hurricane Impact

<ul>
<li>US oil and gas rig count fell by one to 582 for the week ending 06/Sep, marking a decline in rig count for the fourth consecutive week.</li>
<li>The US oil rig count is unchanged at 483 for the third consecutive week. Meanwhile, gas rigs declined by one to 94, marking their lowest level since April 2021.</li>
<li>For the week ending 30/Aug, US crude oil production stayed flat WoW at 13.3m bpd. In August, production reached a record high of 13.4m bpd on two occasions.</li>
</ul>


US oil and gas rig count fell by one to 582 for the week ending 06/Sep, marking a decline in rig count for the fourth consecutive week.
The US oil rig count is unchanged at 483 for the third consecutive week. Meanwhile, gas rigs declined by one to 94, marking their lowest level since April 2021.
For the week ending 30/Aug, US crude oil production stayed flat WoW at 13.3m bpd. In August, production reached a record high of 13.4m bpd on two occasions.


Drop in Gas Rigs Leads to Fourth Straight Weekly Decline in US Rig Count

Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

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>Since July, US macroeconomic momentum has weakened substantially.</li><li>We are now back on a negative trajectory for cyclical growth, with signs of fading momentum in some service sectors, including leisure and hospitality.</li><li>In the spring, we observed a significant build-up of orders relative to inventories as manufacturers sought to bypass the latent pressure from trade tariffs by front-loading activity.</li></ul>

Since July, US macroeconomic momentum has weakened substantially.We are now back on a negative trajectory for cyclical growth, with signs of fading momentum in some service sectors, including leisure and hospitality.In the spring, we observed a significant build-up of orders relative to inventories as manufacturers sought to bypass the latent pressure from trade tariffs by front-loading activity.

EM Watch: China was WEAKENING even before the decline in Western demand

<ul>
<li>For the week ending 30/Aug, US crude inventories fell by 6.9m barrels, surpassing analysts expectations a 600k barrel drawdown. Distillate stocks surprisingly dropped, while gasoline inventories unexpectedly rose.</li>
<li>US natural gas inventories rise 13 bcf for the week ending 30/Aug, missing analyst expectations of a 26 bcf buildup. Inventories are 10.7% above the 5-year seasonal average.</li>
<li>ADNOC to acquire a 35% stake in ExxonMobil’s proposed low-carbon hydrogen facility. BPN Paribas raised the target price on Chevron, while Grupo Santander downgraded TotalEnergies.</li>
</ul>


For the week ending 30/Aug, US crude inventories fell by 6.9m barrels, surpassing analysts expectations a 600k barrel drawdown. Distillate stocks surprisingly dropped, while gasoline inventories unexpectedly rose.
US natural gas inventories rise 13 bcf for the week ending 30/Aug, missing analyst expectations of a 26 bcf buildup. Inventories are 10.7% above the 5-year seasonal average.
ADNOC to acquire a 35% stake in ExxonMobil’s proposed low-carbon hydrogen facility. BPN Paribas raised the target price on Chevron, while Grupo Santander downgraded TotalEnergies.


[ETP 2024/36] Oil Slumps as Supply Fears Fade; Nat-Gas Soars on Rising Demand Outlook

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 2024/37] Oil Prices Rebound but Weak Demand Limits Gains, Nat-Gas Rises on Output Cuts

Oil prices rise on Hurricane impact but weak demand caps gains. Nat-gas prices rise on warmer weather forecasts and production cuts. BP,...

Mint Finance

[US Nat Gas Options Weekly 2024/36] Henry Hub Up on LNG Exports, Output Cut Offsets Hurricane Impact

Henry Hub Nat Gas prices increased 7% last week, driven by rising LNG exports and demand. The Put/Call volume ratio rebounded as put volumes rose...

Mint Finance

Drop in Gas Rigs Leads to Fourth Straight Weekly Decline in US Rig Count

For the week ending 06/Sep, US rig count fell by 1 to 582. Oil rig count was unchanged for the third straight week, while the gas rig count fell by...

Mint Finance

EM Watch: China was WEAKENING even before the decline in Western demand

Since July, US macroeconomic momentum has weakened substantially. We are now back on a negative trajectory for cyclical growth, with signs of...

Steno Research

[ETP 2024/36] Oil Slumps as Supply Fears Fade; Nat-Gas Soars on Rising Demand Outlook

WTI hit a 2024 low on Wednesday as Libyan supply crisis eased & weak manufacturing in China and US fuelled demand concerns. Nat-gas surged on...

Mint Finance

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