• 3 minutes e-car sales collapse
  • 7 minutes Energy Armageddon
  • 11 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 14 days How Many Wells From 1 Onshore Rig?
  • 21 days Сryptocurrency predictions
  • 21 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 24 days What Will We Do Without Oil
Are Oil Stocks Too Good For ESG Investors To Pass Up?

Are Oil Stocks Too Good For ESG Investors To Pass Up?

It’s self-evident that the excellent…

The Only Really Bullish Factor In Oil Markets

The Only Really Bullish Factor In Oil Markets

With oil prices under pressure…

The Oil Price Collapse Continues After Brief Respite

The Oil Price Collapse Continues After Brief Respite

Bearish sentiment continues to dominate…

Editorial Dept

Editorial Dept

More Info

Premium Content

Collective SPR Release Eases Energy Crisis Fears

Numbers Report – April 08, 2022

In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. SPR Release Cools Down Historic Backwardation

- The collective release of 180 million barrels from the United States and IEA member countries has flattened oil futures’ forwards curve, easing fears of unprecedented tightness in the markets.

- The Biden Administration’s pledge to release 180 million barrels over the next six months exceeds the scope of IEA releases, however oddly enough one-third of the US SPR drawdown will be made under the aegis of the international organization.

- The prospect of a sizeable SPR volume hitting the markets also brought Middle East benchmarks Dubai, Oman and Murban some 70% down compared to their early-March peak.

- Backwardation in the Brent complex has eased to its lowest in three months, with the ICE Brent six-month spread now trending at $5 per barrel.

2. Ukraine War Exacerbates Risks of LNG Tightness

- Russia’s invasion of Ukraine will render gas market volatility much worse than it used to be, making gas shortages a much more immediate and realistic scenario, absent any demand shocks such as coronavirus lockdowns.

- Endowed with…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News