contango Archive

Contango shrinks- Shell sells by the sea shore

[Skip to the end] OPEC cuts starting to bite. Saudis back in control of price as excess inventory dissipates. Shell Sells Oil Cargoes, Phibro Tanker Leaves Orkney by Alexander Kwiatowski Jan 27 (Bloomberg) — Royal Dutch Shell Plc sold a cargo of crude stored off the U.K. and a vessel hired by ...Read More

More Saudi cuts

[top] The consumption numbers I’ve seen show the US now about flat year over year, but markets have been telling us there’s been an inventory liquidation in progress. The contango in crude has recently come in some, but remains at what is probably ‘full carry’, and last I checked WTI was below ...Read More

Re: US DOE Text: To Resume Filling SPR ‘To Capacity

[Skip to the end] (email exchange) Right, just as prices are moving up anyway? Gasoline demand is barely down now, and seems to have gone up over the last month or so? Funds are buying/rebalancing to keep their allocation at a given % as crude underperformed last year? OPEC cuts are real ...Read More