Market Update 06/03 – 10/03
The finance sector has been hit hard by the decline in GL which led to subsequent declines in MTLS and SAWAD as well. But the story now is around oil again, we chart out the demand/supply internally and regardless of what the news continues to say we have been seeing supply continually increasing in the past 12 months regardless decline and rebound of oil prices.
Bo Stenberg
Titillating commentary on spot/futures can be found at oilprice.com. Relatively speaking, PTTEP remains curiously resilient. The spot value of their inventory still in the ground is down 14% since New Year’s, with the downside break-out not until 8th March. The FT did report on KSA “coordination” with NYMEX traders, ahem. Long side of this trade was bloated…. From the film, “Margin Call”: It is not panic if you are first out the door.