Discover and read the best of Twitter Threads about #crude

Most recents (10)

German GDP down 10% in June qtr

France down 14%

Singapore minus 41%

#USGDP minus 32.9%,as per advance estimates

#COVID has inflicted universal damage--fall in India will be relatively lower&cushioned by good agri growth

Even when March qtr GDP grew 3.1%,#AgriGrowth was 5.9%
Besides Farm sector,thx to Banking clean-up,by @narendramodi govt, #Banks are doing well too

#SBI reported 81% jump in net profit at Rs 4189Cr

Yes,there was one time gain of 1540Cr--But even without this,profit grew by 15%& #NII by 19%

#GrossNPAs fell from 6.15% to 5.44% QoQ💪
#NetNPAs of #SBI fell from 2.23%,to 1.88%,in June2020 qtr

Improvement in #AssetQuality of SBI is good news&this,despite providing for #COVID19India related losses

SBI made Covid related provisions worth 1836Cr inJune qtr

Total provisions against Covid related losses are 3008Cr
Read 13 tweets
Daily Bookmarks to GAVNet 6/12/2020-2

greeneracresvaluenetwork.wordpress.com/2020/06/12/dai…

What Doctors on the Front Lines Wish They’d Known a Month Ago - The New York Times

nytimes.com/2020/04/14/nyr…

#CommonSense #Covid19 #Doctors #coronavirus
Don’t Lose the Thread. The Economy Is Experiencing an Epic Collapse of Demand. - The New York Times

nytimes.com/2020/06/06/ups…

#collapse #epic #demand #economy
Defund (and redesign) everything. - Deep Code - Medium

medium.com/deep-code/defu…

#defund #institutions #redesign
Read 12 tweets
Thread on

(a) why May WTI #Crude traded negative last night?
(b) what's retail piling longs on Oil ETFs
(c) The way forward.
It costs Dollars to store Oil. But currently there is lack of demand (Virus scare, Airlines down, cities lockdown, Borders sealed etc).

So the oil extracted from the fields need to be stored up. But there is a limit to storage.
That space is filling up fast in the past month. Little options left to store.

Now, WTI Crude (CL) is a deliverable contract which means you need to take delivery if holding a position on expiry (which is today, 21 April at NYMEX in US)

Delivery point is Cushing, Oklahoma
Read 16 tweets
#WTI #CrudeOil futures for May,expiring tomorrow,tanked 57%,to $7.98 per barrel

June contract,expiring on 19thMay, traded@ $26.62/barrel

July futures,traded@ $28/barrel

And all this,despite #OPEC's decision to cut supply by 9.7 million barrels a day,wef 1st May2020

#OilCrash
Normally,spread between #Spot &one month forward contract,is 40-50 cents

This time,spread is $10-12,implying weakness in #crudeoil,will continue

Global demand for #Oil in April 2020,was lower by 29 million barrels per day,Vs April 2019

#COVIDー19&global #lockdown, playing out
Indian #Crude basket is a derived basket of #crudeoil comprising #sourcrude(Dubai&Oman)&sweet crude(Brent)

Indian basket,aligned to #Brent crude,has fallen too,but not as much as #WTI crude

April 2020 #Brent@$20.92 per barrel March $32.01
Feb $55.70
Jan 2020@ $63.83

#OilCrash
Read 16 tweets
1/Here is why you [the market] and the @IEA have got it wrong on #IMO2020.
This is what a 'little disruption' may entail....
#OOTT
@IEA 2/ #IMO2020 crunch time for #oil product balances coming in Dec/Jan not Apr20 (as per IEA). No @IMOHQ derogations/no delays. Market is telling us so as prompt HSFO cracks collapse.
#OOTT
@IEA @IMOHQ 3/ #IMO2020 compliance is being way underestimated by @IEA. Not worth the risk for shippers. Problem with the 0.5% VLSFO alternative is that it will be available, but not compatible. Not worth the risk. Shippers will go for Marine Gasoil (MGO) in size until comfortable.
#OOTT
Read 7 tweets
Case Study for Candle Shunting!.
.
At the end of the 24th Slide you will draw Momentum & Indecision (MI) Zones.
.
You may just change the way you ever looked in Price Flow.
1/n
The Chart we will work on is here below.
.
I will try and explain each candle formed in it.
.

2/n
As per Nimblr TA this is the strength candle marked with a star which has a Candle Body that is more than 50% of Candle Height. It is called a Momentum Candle and when seen on the breakout line is also referred as Breakout Candle.
3/n
Read 57 tweets
1/#IMO2020 is the most significant change to the global refining complex in my lifetime (..however I'm a millennial..sort of) #OOTT
2/#IMO2020 is all about getting rid of ~3.0mln bbls/d of #oil demand and creating ~3.0mln bbls/d of new supply #OOTT
3/#IMO2020 is a play on how confident shippers are (or not) using this new 0.5% blend of marine fuel #oil. Its more of a problem when there is no consensus on what will be gonig into the 0.5% blend. #OOTT
Read 8 tweets
...capito perché non se ne uscirà mai..?!?!
Dollar Shortage #FED
...le due chart "chiave"
Seguire #Fed fund rate futures e Eurodollar Futures oltre al libor è l'unica cosa che conta davvero e che impatta l'economia globale e la natura dei mercato aldilà degli algos telecomandati...
Libor up by 0.35 bps
Libor at 2.61813%
SPOT LOIS at 28.513
Read 135 tweets
Good morning 😀 Another interesting week in the market. Last week, I expected SP500 to set up a relief rally. It did - but what is the outlook ahead? And the Euro....everybody was so bearish the Euro this week. What happens next? Ready for some #HZupdates?
#SP500 the big picture, I think we have the beginning of a major Bear market. We have 5 waves up since 2009 - and this is a major 5(red) top. Hence, the correction is on the entire structure. Will unfold in 3 waves (ABC). Three possible target areas. #HZupdates
#SP500 Wave A of major Bear will unfold in 5 waves. We may have seen wave 1(red) of that decline, and are currently in making of wave 2(red). This may take some weeks to unfold. If this is right, then one of the crashes, we will experience during this bear, waits ahead #HZupdates
Read 15 tweets
#akshar chemicals - FY20 would be a yr to watch. Rev/PAT going 2x, ebitda% improving ~15% to 20% as major contribution frm pigments and silica. Margins wd be more stable due to lower contribution from dye intermediates. #bodal chemicals #kiri chemucals #shree pushkar
Fairly valued at 15x at 610. Though 2 yr fwd is ~8x. #Vinyl Sulphone and #H Acid realizations have stabilized now from peaks due to #China factor last year. Capex permissions are not easy to get with dye intermediates being highly toxic.
Pigments and silica doesn't get impacted by China factor, as being products for domestic market. #Akshar Chem
Read 5 tweets

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