Rohstoffthread / CCG-Hauptthread

edel- und industriemetalle auf dem vormarsch:
#Gold

Gold

Symbol:
Gold
#Silber

Silber

Symbol:
Silber
#Platin

Platin

Symbol:
Platin
#Kupfer

Kupfer

Symbol:
Kupfer


edelmet.PNG
edel- und industriemetalle:
#Gold

Gold

Symbol:
Gold
#Silber

Silber

Symbol:
Silber
#Platin

Platin

Symbol:
Platin
#Kupfer

Kupfer

Symbol:
Kupfer

kommen heute, nach dem starken anstieg der vergangenen tage zurück. der
#Gold

Gold

Symbol:
Gold
-future gibt hierbei das terrain oberhalb der 2k-$-marke wieder auf.
edel- und industriemetalle:
#Silber

Silber

Symbol:
Silber
und
#Platin

Platin

Symbol:
Platin
außerordentlich,
#Kupfer

Kupfer

Symbol:
Kupfer
not bad und
#Gold

Gold

Symbol:
Gold
auch mit dabei.
edelmet.PNG
 
servus miteinand! :bye: wünsche allen ein ruhiges wochenende. in 1 monat ist bereits holy evening! :fenster:
 
NATURAL GAS FUTURES LOWER ON MIXED WEATHER OUTLOOK -- MARKET TALK
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

27 November 2023, 15:47

0847 ET - Natural gas futures are trading at lows not seen since late September with forecasts of a few days' frosty weather that should support demand tempered by milder temperatures seen later in the week. "This should be another volatile week of trade in the natural gas markets, especially with expiration of Dec'23 options and futures Mon-Tue," NatGasWeather.com says in a report. The December futures contract, which expires Tuesday, is off 3.9% at $2.743/mmBtu and gas for January delivery is down 3.7% at $2.889/mmBtu.
(anthony.harrup@wsj.com)(END) Dow Jones NewswiresNovember 27, 2023 08:47 ET (13:47 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.
 
OIL FUTURES LOWER AS OPEC MEETING APPROACHES -- MARKET TALK
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

27 November 2023, 16:00

0900 ET - Crude oil futures are lower after five weeks of declines with markets looking to Thursday's meeting of OPEC and its allies for some clarity on production plans. Oil for January delivery is down 0.9% at $74.88 a barrel, but above the recent low of $72.16 on Nov. 16 that followed an outsized build in US crude stockpiles. Prices were pressured last week when OPEC delayed its meeting to Nov. 30 amid reports of disagreement among African members, and then said the meeting will be held online. "The market remains technically weak ahead of this week's OPEC meeting," Peter Cardillo, chief market economist at Spartan Capital, says in a note. "We think this week's gathering by OPEC+ members will result in even lower prices as the group remains splintered."
(anthony.harrup@wsj.com)(END) Dow Jones NewswiresNovember 27, 2023 09:00 ET (14:00 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.
 
servus miteinand! :danke: boah, ist das jetzt schon eine dräge veranstaltung an den finanzmärkten. und es sind noch 4 wochen bis zum jahresende. :sick: ich wünsche dennoch allen eine gute handelswoche! :up:
 
NATURAL GAS FUTURES SETTLE LOWER ON WEATHER OUTLOOK -- MARKET TALK
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

27 November 2023, 21:42

1441 ET - Natural gas futures settle lower as milder weather forecasts for the near term, above-average storage for the season, and near-record US production keep the market in a bearish mood. "Although deviations from normal will decline beyond this week, the short-term temperature forecasts suggest a much larger storage to kick off the significant part of the heating cycle next month than expected just a couple weeks ago," Ritterbusch says in a report. "Overall, this looks like a market that can gravitate a bit lower." The December contract, which expires Tuesday, settles down 2.1% at $2.794/mmBtu, and natural gas for January delivery falls 1.8% to $2.946/mmBtu.
(anthony.harrup@wsj.com) (END) Dow Jones NewswiresNovember 27, 2023 14:42 ET (19:42 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.
 
und keine Glöckchen.... :kichern:
 
servus kolleche. ulkige zeit mit dem motto "vieles geht, aber nur long"! ich bin zwar kein anhänger oder trader der elliott-wellen, aber ein wenig bewegter (hin und her) dürfte es nach meinem gusteau dann doch sein.
und dann komme ich in der regel spät aus dem büro, dass aktuell irgendwie für mich wenig abfällt. :evil: :kichern: das ist aber wohl der jahreszeit mit den zwei "tz" geschuldet: atzventz! :fenster:
 
GLOBAL ENERGY ROUNDUP: MARKET TALK
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

28 November 2023

0842 ET - Crude oil futures edge higher with the market looking to this week's meeting of OPEC and its allies and the EIA's crude and products inventories report. Expectations of possible deeper production cuts have diminished since OPEC delayed its meeting to Nov. 30. The EIA's stocks report is due Wednesday. "Cushing could be poised for another significant build that would suggest further weakening in WTI structure," Ritterbusch says in a note. WTI for January delivery is up 0.2% at $75.04. (anthony.harrup@wsj.com)

0838 ET - Natural gas struggles for traction as a cold snap across much of the US favors demand for the next day or two, but milder conditions are forecast later in the week. Natural gas for January delivery is down 0.6% at $2.929/mmBtu, unable to hold on to earlier modest gains. With US production near record highs and storage above average for the season, focus remains firmly on the winter weather outlook. "We continue to give bears the benefit of the doubt they're in control as long as they hold Jan'24 under $3," NatGasWeather.com says in a report. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires November 28, 2023 12:17 ET (17:17 GMT) Copyright (c) 2023 Dow Jones & Company, Inc.
 
NYMEX OVERVIEW: PETROLEUM FUTURES HIGHER AHEAD OF THURSDAY'S OPEC+ MEETING -- OPIS
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

28 November 2023, 19:28

Crude and refined product futures were all higher near midday Tuesday, boosted by speculation over a possible extension or expansion of production cuts by OPEC and its allies ahead of their Thursday meeting.
OPEC+ members are expected to discuss the cartel's 2024 production targets as Saudi Arabia's 1-million-b/d and Russia's 300,000-b/d output reductions are set to expire at year's end.
The NYMEX January West Texas Intermediate crude contract was up $1.95 to $76.75/bbl as of noon ET and the February WTI contract was $1.85 higher at $76.95/bbl.
The January Brent crude contract was $1.95 higher at $81.95/bbl and February Brent was up $1.90 to $81.75/bbl.
The oil benchmarks have settled lower in the last four sessions.
Refined product futures were also in rally mode. The more-active NYMEX January RBOB contract was up 5.5cts to $2.2005/gal and the front-month December RBOB contract added 5.2cts to $2.232/gal.
The NYMEX January ULSD contract was ahead by 6.95cts to $2.8225/gal and the December ULSD contract was 7.25cts higher at $2.9105/gal.
In U.S. spot fuel markets, West Coast cash gasoline premiums strengthened across the board, after Chevron Corp.
#CHV(852552)

Chevron Corp.

154,54 €
08:00:23
+0,00 €
+0,00 %
Hoch: 155,10 €
Tief: 152,94 €

Symbol:
CHV
WKN:
852552
ISIN:
US1667641005
154,54 +0,0%
on Monday said its Richmond refinery in Northern California was hit by a power outage that affected operations.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
--Reporting by Frank Tang, ftang@opisnet.com;
Editing by Jeff Barber, jbarber@opisnet.com (END) Dow Jones Newswires November 28, 2023 12:28 ET (17:28 GMT) Copyright (c) 2023 Dow Jones & Company, Inc.
 
Nighthawk, Moneta sign all-share merger agreement

2023-11-28 09:29 ET

Also News Release (C-ME) Moneta Gold Inc

Mr. Keyvan Salehi reports

NIGHTHAWK AND MONETA ANNOUNCE AT-MARKET MERGER TO CREATE A LEADING CANADIAN GOLD DEVELOPMENT COMPANY


Nighthawk Gold Corp. and Moneta Gold Inc. have entered into an arrangement agreement for an at-market merger, whereby Moneta will acquire all of the issued and outstanding common shares of Nighthawk, in exchange for common shares of Moneta by way of a plan of arrangement (with the resulting entity referred to MergeCo).

Pursuant to the terms of the arrangement agreement, Nighthawk shareholders will receive 0.42 of a Moneta share (on a preconsolidation basis) for each Nighthawk share held (the exchange ratio). Existing Nighthawk and Moneta shareholders will own approximately 34 per cent and 66 per cent, respectively, of MergeCo on a fully diluted in-the-money basis (prior to the completion of the concurrent financing, which is further described below).

In connection with the transaction, Nighthawk has entered into an agreement with SCP Resource Finance LP, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought-deal basis, 36,765,000 subscription receipts of Nighthawk at a price of 34 cents per subscription receipt for aggregate gross proceeds of $12,500,100 (the concurrent financing). The net proceeds of the concurrent financing are expected to be used by MergeCo to finance the exploration and advancement of the Tower Gold project and Colomac gold project, and for working capital and general corporate purposes.

Keyvan Salehi, president, chief executive officer and director of Nighthawk, and Josef Vejvoda, interim CEO and chairman of Moneta, jointly commented: "We believe that the transaction presents an exciting opportunity to create a leading gold development company by bringing together two cornerstone assets in Canada. The combined company will benefit from a strong balance sheet, led by a skilled leadership team and a high-quality portfolio anchored by two robust, large-scale assets in established and emerging mining camps. We believe that MergeCo offers a truly unique value proposition, and we look forward to working towards unlocking significant value for shareholders of the MergeCo."


......

https://www.stockwatch.com/News/Item/Z-C!NHK-3485307/C/NHK
 
NATURAL GAS FUTURES WEIGHED DOWN BY WEATHER -- MARKET TALK
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

29 November 2023, 15:38

0838 ET - Natural gas futures are lower as milder-than-usual weather forecasts for the end of the week and beyond continue to temper demand expectations. A drop in production yesterday over a pipe issue was resolved and output should return to near record levels today, while LNG exports fell, NatGasWeather.com says in a report. Meanwhile, "US weather patterns remain emphatically warm/red/bearish for Dec 2-12." Natural gas for January delivery is off 0.3% at $2.828/mmBtu. (anthony.harrup@wsj.com)(END) Dow Jones NewswiresNovember 29, 2023 08:38 ET (13:38 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.
=> ist so kalt der winter ... :winter:
 
OIL GAINS FURTHER AMID BLACK SEA STORM DISRUPTIONS, OPEC+ MEETING UNCERTAINTIES -- MARKET TALK
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

29 November 2023, 16:04

1404 GMT - Oil prices are rising further amid supply disruptions caused by a storm in the Black Sea region and as the market awaits OPEC+'s decision on output policy. Brent crude and WTI are up 1.2% and 1.5% at $82.44 a barrel and $77.52 a barrel, respectively. A severe storm has disrupted loadings at Russia's port of Novorossiysk and at the Caspian Pipeline Consortium terminal, causing a decline in Kazakhstan's oil production. Meanwhile, all eyes are on OPEC+'s upcoming meeting amid speculation that the cartel might be targeting deeper output cuts. ING analysts say in a note they can't rule out the risk of a further delay if the group fails to reach a preliminary deal.
(giulia.petroni@wsj.com) (END) Dow Jones NewswiresNovember 29, 2023 09:04 ET (14:04 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.
 
CRUDE OIL UP AS OPEC PRODUCTION CUTS MULLED -- MARKET TALK
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

29 November 2023, 20:03

1303 ET - Crude oil futures got a push immediately following a report from The Wall Street Journal that OPEC+ is considering a cut of as much as 1 million barrels a day -- but those gains have dissipated some as trading remains volatile ahead of an official announcement. Saudi Arabia is said to be a proponent of the cut, while African nations and the UAE are believed to be against it. Other data like rising crude inventories reported by the EIA are also playing into the choppy trading. WTI is up 1.8% to $77.75 a barrel, while global benchmark Brent is up 1.4% to $82.61 a barrel.
(kirk.maltais@wsj.com; @kirkmaltais) (END) Dow Jones NewswiresNovember 29, 2023 13:03 ET (18:03 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.
 
Montage Gold CFO Kondo to resign for Lucara gig

2023-11-28 20:22 ET - News Release



Mr. Rick Clark reports

MONTAGE PROVIDES PROJECT AND CORPORATE UPDATES


Montage Gold Corp. has provided an update on exploration and development activities at the Kone gold project (KGP), along with a corporate update regarding executive transition in the chief financial officer role.

Montage is nearing completion of the environmental and social impact assessment (ESIA) for the KGP, which is expected to be formally submitted in December, 2023, initiating the environmental validation process for the KGP. Montage expects to complete this process and receive environmental approvals in Q1 2024. Montage is also in the late stages of the updated definitive feasibility study (DFS) for the KGP and expects to release results of the study in January, 2024.

Initial discussions in respect of financing for the development of the KGP are continuing and management is very encouraged with the early interest Montage is receiving. Upon the release of the DFS in January a formal project financing process will be initiated.

Exploration at the KGP is continuing and currently focused on high-priority targets, including at Yere North and Diouma North, both of which areas are showing potential to be the next satellite deposits within the KGP. The company looks forward to providing further updates and drill results in the new year.

The company also discloses that Glenn Kondo, chief financial officer of Montage, has been appointed to the role CFO of Lucara Diamond Corp. (Lucara), as part of a series of management changes at Lucara. Mr. Kondo will also continue to serve as CFO of Montage until the end of Q1 2024 as part of an agreement with Lucara to ensure an orderly transition within the Lundin Group and to allow Montage sufficient time to appoint a new CFO. Mr. Kondo previously served as CFO of Lucara from 2011 to 2018, during which time Lucara successfully entered production at its Karowe diamond mine in Botswana.

Rick Clark, Montage chief executive officer, commented: "We are very pleased with the continued progress at the KGP. The near-term submission of the ESIA is a key milestone for the project and positions Montage to make a development decision in early 2024. We are also very excited with our ongoing drilling campaign to identify further high-grade deposits to add to the KGP mine plan. We look forward to updating shareholders on this progress in early 2024.

"Finally, I would like to thank Mr. Glenn Kondo for his contributions to Montage over the past four years since its creation as a junior private company in 2019 and its transition to a public West African gold exploration and development company poised to develop the exciting KGP. Mr. Kondo has worked within the Lundin Group of Companies for 13 years, many of which were at Lucara and we wish him well in his return to Lucara and thank him for his continued support of Montage."

About Montage Gold Corp.

Montage is a Canadian-based precious metals exploration and development company focused on opportunities in Ivory Coast. The company's flagship property is the Kone gold project, located in northwestern Ivory Coast, covering a total area of 2,258 square km and which now hosts an indicated mineral resource of 4.83 Moz of gold, plus an inferred mineral resource of 320,000 ounces. The company released the results of a definitive feasibility study on the KGP on Feb. 14, 2022, which included a probable mineral reserve of 161.1 Mt grading 0.66 g/t for 3.42 Moz of gold, supporting a 15-year gold project producing an estimated 3.06 Moz of gold over life of mine, with average annual production of 207,000 oz, and estimated peak production of 320,000 oz. The company is looking to deliver an updated definitive feasibility study by year-end 2023 which will incorporate the new indicated mineral resource from Gbongogo Main.

In addition to the growing resource and reserve base at the KGP, the company has an extensive exploration target pipeline all sitting within trucking distance of the planned central milling facility that positions the KGP for significant long-term upside.

Montage is progressing the KGP toward a development decision in early 2024 with permitting and project financing activities commencing in Q4 2023. Montage has a management team and board with significant experience in discovering and developing gold deposits in Africa, including the successful sale of Red Back Mining Inc. and Orca Gold Inc.


https://www.stockwatch.com/News/Item/Z-C!MAU-3485971/C/MAU
 
Discovery Silver Announces Management Change

2023-11-29 09:00 ET - News Release



TORONTO, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) announces the departure of Tony Esplin as Chief Operating Officer of the Company.

With the recent additions to the management team and Board of Directors announced on August 24, 2023, the Company is well positioned to advance Cordero through its Feasibility Study and toward a construction decision. The Feasibility Study continues to progress well and remains on track for delivery in the first quarter of 2024.

Tony Makuch, President & CEO, states: “We are very grateful for the contributions Tony has made in advancing Cordero over the last couple of years and we wish him all the best in his future endeavours.”

About Discovery

Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits. The PFS completed in January 2023 demonstrates that Cordero has the potential to be developed into a highly capital efficient mine that offers the combination of margin, size and scalability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico.

On Behalf of the Board of Directors,Tony Makuch, P.EngPresident, CEO & Director

For further information contact:

Forbes Gemmell, CFAVP Corporate DevelopmentPhone: 416-613-9410Email: forbes.gemmell@discoverysilver.comWebsite: www.discoverysilver.com

https://www.stockwatch.com/News/Item/Z-C!DSV-3486536/C/DSV
 
Management hat das Unternehmen nun auf die richtige Bahn gebracht...

Monument Reports First Quarter Fiscal 2024 (“Q1 FY2024”) Results

2023-11-30 03:44 ET - News Release



VANCOUVER, British Columbia, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its first quarter of fiscal 2024 production and financial results for the three months ended September 30, 2023. All amounts are expressed in United States dollars (“US$”) unless otherwise indicated (refer to www.sedar.com for full financial results).

President and CEO Cathy Zhai commented, "Q1 FY2024 was a significant quarter for Selinsing Gold Mine as we achieved commercial production of gold concentrate from the sulphide plant, which reached 90% of its design capacity. We also improved our operational efficiency by completing the explosive depot, increasing our mining capacity with more drill rigs and operating hours, and generating cash flow from gold concentrate sales. At Murchison, we initiated a review of the project's potential cash flow and exploration plans based on previous drill results, while maintaining our plant and facilities for future production, with fully operational site accommodations and catering facilities.”

First Quarter Highlights:

  • The throughput of the Selinsing sulphide gold treatment plant achieved 90% of design capacity for the 30-day period up to August 16, 2023, thereby achieving the requirement for commercial production.
  • Mining capacity increased with ten grade control drill rigs and additional drillers now on site and expanded drilling hours.
  • Completion of explosive depot construction in July 2023 accommodated shortage of explosive deliveries.
  • Cash flow successfully generated throughout the quarterly gold concentrate sales after the first sale occurring in June 2023.
    • Gold produced from the flotation plant:
    • 7,243 ounces (“oz”) of gold produced (Q1 FY2023: nil ounce);
    • 4,607oz gold sold at average realized price of $1,939/oz for an estimated $6.91 million (Q1 FY2023: nil);
    • Cash cost per ounce for gold sold at $847/oz (Q1 FY2023: nil);
    • Gross margin at $3.01 million (Q1 FY2023: nil).
    • All-in sustaining cost (“AISC”) decreased to $957/oz (Q1 FY2023: $ 2,677/oz) (section 15 “Non-IFRS Performance Measures”) when transiting to concentrate production from gold billion production.
  • The AUD$1 million contingency was realized from the 2021 Tuckanarra transaction, when a major milestone of resources was delivered by Odyssey.
First Quarter Production and Financial Highlights

.....

https://www.stockwatch.com/News/Item/Z-C!MMY-3487983/C/MMY
 
#Silber

Silber

Symbol:
Silber
-future: th bei 25.310$ (dec-23). der nearest future (und damit der liquideste mar-24) lief bis 25.700$) :eek:
 
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CRUDE PRICES SET TO RISE IN UNDERSUPPLIED MARKET, UBS SAYS -- MARKET TALK
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

1 December 2023, 10:59

0859 GMT - Oil prices are expected to rise in the coming months in an undersupplied market following additional OPEC+ cuts, but compliance levels among member states will be closely watched, UBS's Giovanni Staunovo says in a note. "As those are voluntary cuts, market participants seem to be concerned that a large fraction of those new pledged cuts won't get implemented," the analyst says. The removed barrels should return to the market only gradually at the end of the first quarter, keeping the oil market in deficit in the first half, Staunovo says. Even more barrels could be removed if the compliance rate of the group improves, he says.
(giulia.petroni@wsj.com) (END) Dow Jones NewswiresDecember 01, 2023 03:59 ET (08:59 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.
 
Fundamentale Nachricht
Kupfer: Hohe Angebotsrisiken
#Kupfer

Kupfer

Symbol:
Kupfer

von Tomke Hansmann11:29 Uhr, 01.12.2023
Das Erzangebot dürfte in den kommenden Jahren aufgrund einer stotternden Produktion in Top-Produzentenländern wie Chile und Peru nur schwer mit einer voraussichtlich steigenden Nachfrage mithalten, sodass jegliche Angebotsausfälle Commerzbank-Analystin Thu Lan Nguyen zufolge den Markt schnell verknappen könnten.
https://stock3.com/news/kupfer-hohe-angebotsrisiken-13691876
 
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OIL MARKET FACING UNCERTAINTY AHEAD OF FIRST OPEC+ COMPLIANCE REPORT, RBC CAPITAL MARKETS SAYS -- OPIS
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

4 December 2023, 18:38

RBC Capital Markets is warning crude oil markets are likely facing about two months of uncertainty given that OPEC and its allies won't report compliance levels with recent voluntary production cuts until late January.
The bank's analysts also said that even including new supply from non-OPEC countries in 2024, they believe demand will outstrip supply for the entire year.
RBC offered no new price targets and said its estimated 2024 supply and demand balances assume complete compliance with the new OPEC quotas. It projected a 300,000 b/d stock draw in the first quarter, 500,000 b/d in Q2, 900,000 b/d in Q3 and 1.4 million b/d in the final quarter of the year.
The bank said the cuts agreed to at last week's OPEC will not be implemented until January, meaning the first reliable reports of compliance are probably about 60 days away. That will increase uncertainty in a market already dealing with ambiguity.
RBC's predicted 2024 oil market is similar to that seen from 2010 to 2019, when U.S. shale oil production was on the rise. The bank estimated U.S. crude production will rise by 400,000 b/d next year and believes output from the U.S., Brazil, Guyana and Canada will increase by a combined 1.9 million b/d by the end of next year.
While the bank believes the market will see supply deficits next year, it is in a "show me" stance with no clear catalyst for direction. Until statistics on cartel compliance are published, oil futures may in the near-term follow the path of least resistances and move lower.
The report also noted what it said were two surprises this year - an increase in U.S. oil production to about 1 million b/d and the failure of China's economy to meet expectations after it ended Covid-19 restrictions.
#China

China

Symbol:
China


This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
-Reporting by Tom Kloza, tkloza@opisnet.com; Editing by Jeff Barber, jbarber@opisnet.com(END) Dow Jones Newswires December 04, 2023 11:38 ET (16:38 GMT) Copyright (c) 2023 Dow Jones & Company, Inc.
 
NYMEX OVERVIEW: CRUDE FUTURES LOWER, WHILE REFINED PRODUCTS SEE MODEST GAINS -- OPIS
#Oel/Gas

Öl + Gas

Symbol:
Oel+Gas

4 December 2023, 19:27

Petroleum futures were posting modest moves at midday Monday as traders continue to assess the potential impact of additional OPEC+ production cuts.
Voluntary cuts agreed to last week by OPEC and its allies came as a disappointment to market bulls, who point to the cartel's failure to include strong actions to enforce compliance with the proposed output reductions.
Crude futures swung between gains and declines in morning trading at were lower near midday. The NYMEX January West Texas Intermediate contract was 52 cents at $73.55 a barrel, while February Brent was down 42 cents at $78.46/bbl. The planned additional OPEC+ cuts won't be implemented until January and the market likely won't get its first reading on compliance levels for another two months or so.
Refined products were modestly higher despite weaker crude. Timing is right for a contra-seasonal gasoline bottom that often serves as a launch pad for a late winter/early spring rally. NYMEX RBOB futures fell to an off-season low of $2.0204 a gallon on Dec. 12, 2022, and could approach a similar low in the coming days. Just ahead of midday, the NYMEX January RBOB contract was up 1.18 cents to $2.1329/gal.
U.S. spot gasoline prices were largely following the NYMEX, with the exception of Southern California, where the spot price for Los Angeles CARBOB was down 2.5c/gal. All other markets were 1ct to 1.25 cents higher in quiet trading.
Wholesale prices are now in the 1.75-$1.99/gal range for E10 or its reformulated equivalent in 33 states. Cheap gasoline has even infiltrated some Rocky Mountain markets. Retail prices wobbled aimlessly on the weekend but OPIS MarginPro data points to about a 1-cent drop in retail prices so far on Monday.
The NYMEX January ULSD contract was up 1.05 cents to $2.672/gal. Temperature forecasts for the U.S. Northeast were close to normal and cash prices for diesel were up by 0.5 cent to 1.25c/gal in all U.S. bulk markets.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
--Reporting by Tom Kloza, tkloza@opisnet.com; Editing by Jeff Barber, jbarber@opisnet.com (END) Dow Jones Newswires December 04, 2023 12:27 ET (17:27 GMT) Copyright (c) 2023 Dow Jones & Company, Inc.
 
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