NRGO News and Press, Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E NRGO From 03/05/21

Oil prices jumped another 1.8% to over $65 a barrel overnight after OPEC+ decided not to unleash millions of barrels on to the market. The main debate at the meeting was whether to go forward with a collective production increase and if the Saudis would return the 1M bbl/day it voluntary took...

Oil prices are on the rise for a second straight session following reports that OPEC and its non-OPEC partners, an energy alliance referred to as OPEC+, might decide against increasing output at a key meeting today. Until now, the consensus view among the group appeared to be that the market ...

The rally in commodities has benefited G10 commodity FX more than EM FX so far, due in part to the UST sell-off. Looking ahead, long-term undervaluation may help RUB reap more benefits from a 2H oil rally and help BRL weather a decline in iron ore, which should hit AUD harder. A c...

While unnerving, the late-February surge in global bond yields was a game-changer for equity market leadership, with important implications for navigating the road ahead. The rebound in financials dates from last November when vaccine breakthroughs stoked hopes for the global economy ...

Shale oil was never a threat to OPEC. If anything, shale producers always benefited from OPEC’s effective market management. A subdued shale rebound is widely expected. For further details see: U.S. Shale Producers Bullish Ahead Of OPEC+ Meeting

The latest US shale capex/production guidance shouldn't surprise anyone. Reserved-based lending facility is challenged going forward meaning no more "growth at any cost". Producers learned the hard way that credit lines are not liquidity, so paying down debt is one of their bigges...

I am increasing my February West Texas Intermediate oil price forecast by $10 to $57.50 to $67.50 per barrel for March 2021. I was too conservative in my prior estimate. Oil prices moved faster and more aggressively than I expected. The reason for my latest increase is that COVID-...

The market is still assessing the resumption of US crude oil output after the fallout from the big freeze across Texas. Oil prices made another big weekly gain. WTI rose above $60 per barrel and the Brent crude price settled above $65 per barrel. For further details see: ...

We review EIA's Weekly Petroleum Status Report for the week of February 19, 2021. Crude inventories increased by 1.3M barrels and petroleum products declined by 15M barrels. US product inventories should rebalance to the 5-year average in a few more weeks, crude likely to build w/...

Two of the most important oil price reporting agencies have decided to include the physical WTI Midland and include it in the basket of European Dated Brent. Before such transatlantic benchmark conversion takes place, some questions must be addressed. If 500,000 barrels of WTI Mid...