SPECIAL REPORT | June 30, 2009

Iraq's reopening belies IEA outlook

Please find attached the latest issue of The Week Ahead: Iraq’s reopening belies IEA outlook: It’s risky, but today’s tender could revamp global market

DATA INSIGHT | June 29, 2009

DOE Petroleum Supply Monthly - April 2009

DOE Petroleum Supply Monthly - Issued for April. Stocks: total commercial revised up by 6.8 million bbls combined (129.3 mmbbls above 2008) and even with March, i.e. no stock draw in 1st month of Q2. But products were revised up 11.7 mm bbls and crude down by 5 mm bbls. Of the higher estimated products stocks, distillates were revised up 2.1 mm bbls (42.2 mm bbls above 2008) Demand: revised up 187k b/d vs the weekly data, but still was down 1.3 m b/d under March as a whole. Gasoline d.....

SPECIAL REPORT | June 29, 2009

IEA Seasonal Treats

Agency issues oil and natural gas reports for summer reading

SPECIAL REPORT | June 26, 2009

June 26, 2009

Please find attached the latest issue of CFTC Commitment of Traders Report. Today’s CFTC Commitment of Traders Report shows that WTI Crude Oil non-commercial net length increased by 7k contracts (7%) in futures and options combined, almost entirely due to declining short positions, to 99k contracts of net length. Total open interest fell significantly, by roughly 175k contracts to 2.47m contracts, the lowest level since May 26. In petroleum products, net length declined in RBOB Gaso.....

SPECIAL REPORT | June 19, 2009

June 19, 2009

Non-commercial net length in WTI futures and options combined fell by nearly 26k (22%) contracts to 92k contracts of net length. This move reversed three weeks of gains in length and brings net length in line with the May 12 level of 94k contracts. Total open interest increased by 32k contracts (1.2%) to 2.6m contracts, and has grown by 291k contracts in the past four weeks. Net length in petroleum products stayed relatively flat in RBOB Gasoline at 62k contracts long, and grew by 2k co.....

DATA INSIGHT | June 17, 2009

Topsy-turvy: EIA data indicate that coal prices may establish a ceiling, not a floor for US natural gas

SPECIAL REPORT | June 16, 2009

Spread 'em! The Oct/Jan differential could be the gift that keeps giving this summer

Please find attached the latest LCM Special Report: Spread ’em! The Oct/Jan differential could be the gift that keeps giving this summer +Key takeaways:+ The fundamental outlook for October gas is bleak and growing worse. The October NYMEX natural gas contract’s sources of support are tenuous. Financial flows are expediting the emergence of physical constraints. The January contract is unlikely to plummet alongside October. There is historical precedent for a significantly .....

SPECIAL REPORT | June 15, 2009

Iranian election adds geopolitical twist to oil market

Please find attached the latest issue of The Week Ahead: Iranian election adds geopolitical twist to oil market Reinforces financial sentiment, minimizing other market fundamentals

DATA INSIGHT | June 12, 2009

June 12, 2009

Please find attached a summary of the latest CFTC Commitment of Traders Report for WTI , natural gas, RBOB and heating oil. Today’s CFTC Commitment of Traders Report is characterized by increased non-commercial net length in crude oil and petroleum products, and increasing net shorts in natural gas. For the week ending June 9, WTI crude oil non-commercial net length in futures and options combined grew by 9k contracts (8.1%) to 118k contracts. This fifth consecutive weekly increas.....

DATA INSIGHT | June 10, 2009

QE and QED: Quantitative Easing Winners and Losers

Please find attached our first LCM Research Global Quarterly, which combines our research capabilities across asset classes in the US and Europe. + Executive Summary + GREEN SHOOTS AND GREENBACKS ( DANIEL AHN ) . Despite the turnaround in sentiment and leading economic indicators, we are unwilling to call the recent rally sustainable due to continued weakness in credit and housing markets. We are concerned about the speed and uncomfortable timing of the recent expected inflation m.....