Bounce
Nice bounce, can this sustain?
Apologies for the delay in this week’s report, but we have been busy updating C.O.T models here to bring you a clear and clean read on positioning that I fear a lot of the market has missed.
In this report: Deep dive machine learning analysis in C.O.T. The data lined up last week for a nice bounce Can this sustain? See below.
Articles
U.S. withdrawing forces from Iraq
Oil could hit $200 if Hormuz Strait closed, Khamenei representative warns
Ukraine attacks pipeline that sends Russian oil to Hungary and Slovakia
Drilling down on upstream oil spending
South America is fast becoming the world’s hottest oil patch
North Sea Omega Alfa oil find one of Norway’s largest in recent years
EIA: Increase in Iraqi oil exports to the US
Federal Onshore Extractive Energy Leasing
Will expanded access to US federal lands spur oil and gas output?
I’ll keep it short on the views/macro etc this week as C.O.T is all important to monitor the market at the moment.
Just a quick look, thanks to Vortexa at current oil inventory levels from around the world.
China building above range but with seasonal pattern, while Shandong is storing way above long term average levels. The only thing that comes to mind here is China knows something we all don’t regarding supply risk. OR this is just a protectionist insulating move against any future shocks.
