OILX News and Press, UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B From 02/07/23

Summary One of the key assumptions behind commodity markets is that it is economic demand that drives pricing. It has been long-conflated that sentiment drives economic activity and that certain correlated indicators are believed to be economic measures and good predictors of future eco...

Summary A day after the Fed’s announcement, the ECB raised its key interest rate 0.5% to 2.5% on Thursday. This was the fifth straight increase in the ECB’s key interest rate. Bond investors are fully expecting inflation to cool off, and that the Fed’s key interest ...

Summary Why Chinese demand will drive oil prices this year. Oil supplies have been softer, but that trend is unlikely to continue. Have oil prices bottomed for 2023? The price of crude has been hovering around $80 per barrel, mainly on concerns about global demand ...

Summary After a year best forgotten, 2023 has started out with a bang. January was a strong month that gave equity investors a timely relief rally. While this was a welcomed development, I am concerned that equity prices are getting too disconnected from reality. We have a challenging m...

Summary U.S. November production decreased by 35 kb/d to 12,375 kb/d. Since the beginning of April 2021 through to the week ending July 29, 2022, the US added horizontal oil rigs at a rate of close to 3.82 rigs/wk, orange OLS line, and peaked at 551 rigs in the week ending July 29. ...

Summary A truly exceptional year, 2022 was dominated by historically high inflation, sharply rising interest rates and a surge in bond yields. With inflation now peaking and labor markets cooling, the environment enables central banks to slow and potentially pause interest-rate hikes. ...

Summary As we head into the end of January, technical conditions in major stock indexes are showing a lot of strength. We think a bear market that could easily trim 50% from indexes is in the cards, but timing is everything. We find price action-driven measures more reliable than su...

Summary The rise in the volume of U.S crude oil looks set to partially offset any decline in Russian crude oil that is sold into the region. U.S. crude accounts for around 12% of EU refinery processing volumes. European refiners have processed greater volumes of WTI-linked crudes in...

Summary We continue to hold our overweight defense-aerospace position in the US Equity ETF portfolio. We have increased our position exposure to the domestic US oil sector with two selected ETFs. I think that oil prices are headed higher or staying in the range of high $70s or $80s....

Summary After a record-setting 2022, energy sector earnings are likely to generally decline in 2023, though forecasts point to another strong year by historical standards. Even with a year-over-year earnings decline, energy companies can continue to execute on free cash flow generation ...