{"id":9433,"date":"2024-11-25T11:38:35","date_gmt":"2024-11-25T16:38:35","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=9433"},"modified":"2024-12-11T11:39:27","modified_gmt":"2024-12-11T16:39:27","slug":"energy-commodities-strengthen","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/pt\/energy-commodities-strengthen\/","title":{"rendered":"Energy Commodities Strengthen"},"content":{"rendered":"\n\n\n
Energy commodities strengthened on intensified geopolitical tensions, but fundamentals could hide mixed signals for the long run.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Crude Oil<\/p>\n

Oil prices increase +5% w\/w on decreased output<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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  • WTI crude oil futures rose above $71.2 per barrel, driving prices to a weekly gain of over 5%, the most in two months, on expectations of recovery in demand and further supply risks.<\/li>\n
  • The US S&P PMI rose to 55.3 in November, marking the fastest private sector growth since April 2022, lifting the demand outlook from the world’s top fuel consumer.<\/li>\n
  • Meanwhile, China unveiled measures to boost foreign trade, raising expectations for higher energy product imports.<\/li>\n
  • In turn, risks to fuel exports from Russia emerged after Ukraine launched its second Western-supplied missile into Russia.<\/li>\n
  • Markets are now eyeing the OPEC+ meeting on December 1st, with speculation that output increases may be delayed once again.<\/li>\n<\/ul>\n

    Gasoline<\/p>\n

    Gasoline appreciated despite unexpected strengthened inventory<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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    • US gasoline futures settled above $2.06 per gallon, a two-week high as investors were evaluating mixed supply signals and the impact of geopolitical tensions on oil prices.<\/li>\n
    • The API recently noted a 2.48-million-barrel decline in gasoline inventories, supporting gasoline prices.<\/li>\n
    • However, EIA data reported a 2.05-million-barrel build in gasoline stockpiles for the week ending November 15th, surpassing the forecast of a 1.62-million-barrel increase and easing concerns about supply constraints.<\/li>\n
    • Equinor restored production at Western Europe’s largest oilfield after a power outage, but ongoing supply constraints at Kazakhstan’s Tengiz field, operating at 28-30% reduced output due to repairs, supported prices.<\/li>\n<\/ul>\n

      Natural Gas<\/p>\n

      Natural Gas futures reached 1-year high<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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      • US natural gas rices fell to $3.2\/MMBtu after touching a one-year high of $3.35 on November 21st amid an ample output next year.<\/li>\n
      • The EIA noted that US drillers are expected to raise output for the first time since the pandemic next year amid higher export capacity and global demand for US LNG.<\/li>\n
      • Still, prices remained nearly 20% higher in November as forecasts of colder weather expedited expectations on the start of storage withdrawing season.<\/li>\n
      • Data from the EIA showed that gas storage fell by 3 bcf on the week ending November 15th instead of expectations of a 5 bcf build, as relatively low prices in the prior week drove producers to cut output.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"

        Energy commodities strengthened on intensified geopolitical tensions, but fundamentals could hide mixed signals for the long run. Crude Oil Oil prices increase +5% w\/w on decreased output WTI crude oil futures rose above $71.2 per barrel, driving prices to a weekly gain of over 5%, the most in two months, on expectations of recovery in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9433","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/9433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/comments?post=9433"}],"version-history":[{"count":1,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/9433\/revisions"}],"predecessor-version":[{"id":9434,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/9433\/revisions\/9434"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/media?parent=9433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/categories?post=9433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/tags?post=9433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}