Weekly Fundamentals - Unprecedented Production Outage the Key for Crude's Rally

Crude oil had another solid week with both benchmarks breached US$ 50/bbl briefly before retreat. The front-month WTI contract ended the week +3.31% higher while the Brent contract was up +1.23%. Settling at US$49.33 on Friday, WTI crude prices trades at a premium (+US$0.01/bbl) over Brent crude for the first time since January 22, 2016. We believe the bigger-than-expected decline in US crude inventory, continuing decline in US production and the aftermath of wildfires in Alberta, Canada... <div class="feedflare"><a href="http://feeds.feedburner.com/~ff/OngFocus?a=CeIyogcLshs:Wg4Ger5Br1c:yIl2AUoC8zA"><img border="0" src="http://feeds.feedburner.com/~ff/OngFocus?d=yIl2AUoC8zA" /></a> <a href="http://feeds.feedburner.com/~ff/OngFocus?a=CeIyogcLshs:Wg4Ger5Br1c:V_sGLiPBpWU"><img border="0" src="http://feeds.feedburner.com/~ff/OngFocus?i=CeIyogcLshs:Wg4Ger5Br1c:V_sGLiPBpWU" /></a> <a href="http://feeds.feedburner.com/~ff/OngFocus?a=CeIyogcLshs:Wg4Ger5Br1c:F7zBnMyn0Lo"><img border="0" src="http://feeds.feedburner.com/~ff/OngFocus?i=CeIyogcLshs:Wg4Ger5Br1c:F7zBnMyn0Lo" /></a> <a href="http://feeds.feedburner.com/~ff/OngFocus?a=CeIyogcLshs:Wg4Ger5Br1c:qj6IDK7rITs"><img border="0" src="http://feeds.feedburner.com/~ff/OngFocus?d=qj6IDK7rITs" /></a> <a href="http://feeds.feedburner.com/~ff/OngFocus?a=CeIyogcLshs:Wg4Ger5Br1c:l6gmwiTKsz0"><img border="0" src="http://feeds.feedburner.com/~ff/OngFocus?d=l6gmwiTKsz0" /></a> <a href="http://feeds.feedburner.com/~ff/OngFocus?a=CeIyogcLshs:Wg4Ger5Br1c:gIN9vFwOqvQ"><img border="0" src="http://feeds.feedburner.com/~ff/OngFocus?i=CeIyogcLshs:Wg4Ger5Br1c:gIN9vFwOqvQ" /></a></div> <img alt="" height="1" src="http://feeds.feedburner.com/~r/OngFocus/~4/CeIyogcLshs" width="1" /><br /> <br /> from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/weekly-fundamentals-unprecedented-production-outage-the-key-for-crudes-rally--2016052833000/

Weekly Fundamentals - Unprecedented Production Outage the Key for Crude's Rally

Crude oil had another solid week with both benchmarks breached US$ 50/bbl briefly before retreat. The front-month WTI contract ended the wee...

Plus d'infos »