Oil insights with Harry Tchilinguirian | How Short is too Short? | S1 E5
Episode description
This episode of Oil Insights was recorded on 10th September, 2024 at 11am BST. Research Associate Vincent Wu guest hosts alongside Research Analyst Mita Chaturvedi as Harry Tchilinguirian attends APPEC in Singapore.
In this week's episode of Oil Insights, Vincent and Mita delve into the current state of the oil market and discuss the potential for a significant price reversal given the ultra-short positioning by money managers, including CTAs. Amid prevailing economic uncertainty, sluggish Chinese demand and the anticipation of additional OPEC+ barrels, bulls seem to have given up as the market accepts a lower flat price environment.
The team discusses OPEC+ strategy as of late, alongside the downgrading of forecasts by trade houses and Wall Street banks, and more. They also focus on the LPG market as this week's featured product. Mita explains how shifting to winter specification gasoline blending has injected new support into butane, while international propane saw a standout performance this week despite a bearish futures market.
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