Commodity Context

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A very ugly week for crude knocks prices back by $7/bbl despite no major oil-related news, the most since New Year rout, with both calendar and crack…
Rory Johnston
Assessing the ongoing recovery in aviation activity and jet fuel demand with high-frequency nowcast estimates
Rory Johnston
2

January 2023

Weird Friday rout pulls crude lower on technical signals despite absence of relevant news, while now fully backwardated Brent futures curve better…
Rory Johnston
Liquids market balance tightened to a narrow surplus in November on the back of strong Asian demand growth and lower OPEC and Brazilian supply.
Rory Johnston
Another solid week for crude, up $2.40/bbl on further China reopening optimism, though the journey through the week was bumpy given hawkish Fed…
Rory Johnston
Comparing the outlooks and material forecast assumptions for the oil market in 2023 between major public forecasting agencies
Rory Johnston
Crude rose nearly $7/bbl for the best weekly performance in more than 3 months, but gains were driven more by the anticipation of future Chinese buying…
Rory Johnston
Updates along the US SPR's new and bumpy refill road
Rory Johnston
Oil market trips out the gate in first week of 2023 as Brent sinks below $80/bbl to its lowest weekly close in a month and prompt calendar spreads flip…
Rory Johnston
October was another record month for continental liquids production with monthly output gains seen across crude oil, natural gas liquids, and biofuels.
Rory Johnston
5 key themes that drove the oil market to the second-highest level on record before ultimately giving almost all of it back
Rory Johnston

December 2022

Crude finishes 2022 on a positive note, gaining ~$2/bbl on the week and ending the year with the Brent futures curve completely backwardated for the…
Rory Johnston
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© 2023 Rory Johnston
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