Lower U.S. Oil Output Is Positive For Oil And Risk Assets

By Warren C. Smith, MRB – The Macro Research Board   The rebound in risk assets since mid-February should persist as investors slowly unwind their fears of a recession. Sentiment is still fragile and economic activity will be slow to improve (and choppy), but it is becoming clear that the markets significantly overreacted to weak […] Read more »

Low Oil Prices: A Supply, Not A Demand Issue

MRB oil Feb 3 lead article

By Peter Perkins and Phillip Colmar, MRB – The Macro Research Board   The collapse in oil prices is being driven primarily by supply rather than demand factors. The decline in oil prices over 2014 and 2015 coincided with a massive increase in crude oil inventories. It is also important to note that global oil […] Read more »

Global Energy Stocks: The Worst May Be Over

By Salvatore Ruscitti, of MRB – The Macro Research Board   We recently upgraded energy stocks to neutral from underweight. Downside risks to oil prices and rising costs for oil producers were key reasons behind our downgrade of the sector in May 2013. Our cautious stance worked out well as a supply-induced bear market in […] Read more »

Oil Price Risks to the Upside into 2016 Says Astenbeck’s Andy Hall

Headline and derricks 650 by 567

By Andrew Hall, CEO and Chairman of Astenbeck Capital Management   Despite generally supportive economic data, markets were unnerved in June by the sharp selloff in the Chinese stock market and the specter (yet again) of a Greek default. Metals prices were pummeled for no apparent reason and oil drifted to the lower end of […] Read more »