11/03/2018

OPEC daily basket price stood at $72.64 a barrel Thursday, 1 November 2018

OPEC daily basket price stood at $72.64 a barrel Thursday, 1 November 2018 Vienna, Austria, 2 November 2018--The price of OPEC basket of fifteen crudes stood at $72.64 a barrel on Thursday, compared with $75.24 the previous day, according to OPEC Secretariat calculations. (View Archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Winter oli market outlook

Winter oil market outlook The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product markets more vulnerable to developments related to the middle of the barrel. In 2017, refining margins weakened in winter and product markets were mainly sustained by firm gasoil demand.  Looking back, European diesel demand growth dropped last winter in 4Q17 from levels observed at the beginning of the year and deteriorated further in 2Q18. The trend in 3Q18 so far confirms market weakness. This general slowdown in the European gasoil market is largely a consequence of the 2015 diesel emissions controversy and higher global oil prices. Hence, in 2018 the European gasoil market has transitioned from the fastest-growing diesel market to the slowest among selected countries shown in Graph 1. In the US, while heating oil has seen pressure due to substitution by natural gas, demand for middle distillates has nevertheless been strong on healthy economic activity, including manufacturing, construction and freight movement. In the winter of 2017, refinery runs in the US were at record highs due to Hurricane Harvey, though this is not expected to be repeated this winter. Following this year’s driving season, refining margins have begun to decline seasonally, in addition to being pressured by smaller crack spreads, which could lower refinery throughput further in the months to come. In non-OECD countries, strong economic growth, particularly in India and China, has been supportive of industrial activities, such as heavy equipment operations for mining and farming and power generation, as well as passenger and commercial transportation. Diesel growth in India for 2018 continues to see strong momentum, as well as ongoing improvements in LPG requirements for residential use. In China, LPG and gasoline are the engines of demand growth, with seasonal agricultural activities providing further support for diesel demand in the coming months. With regard to oil inventories, OECD stocks have witnessed a downward trend since the implementation of the Declaration of Cooperation, with an inventory draw in all product categories compared with a year earlier. As per the latest available data, OECD commercial product stocks stood at 41 mb below the seasonal average. Looking ahead, based on current market developments, global product markets are projected to see some weakness, compared with the same quarter a year earlier. In Europe, gasoil cracks are expected to continue to come under pressure, as diesel-powered vehicles remain under scrutiny. At the same time, gasoline markets in the region are expected to show some counter-seasonal gains, providing moderate support to otherwise softening European product markets (Graph 2). In the US, the diesel market will be impacted by various factors such as weather conditions during 4Q18 and 1Q19 and the performance of the industrial and construction sectors. Meanwhile, product demand in non-OECD countries, mainly in China and India, is expected to be driven by positive GDP growth projections for those economies. In addition, limitations in refining capacity in Latin America and Africa, due to a lack of investment, will most likely continue to encourage product imports, providing additional support to global gasoline and middle distillate crack spreads. However, the current weakness in some emerging market currencies and subsidy reductions could negatively impact product demand in the emerging markets in the months to come.

#Oil Market Highlights

Oil Market Highlights
Crude Oil Price Movements In September, the OPEC Reference Basket increased sharply by almost 7%, or $4.92 m-o-m, to average $77.18/b the highest since October 2014. Crude oil futures prices also increased for the month, mainly supported by geo-political tension, growing concerns over a shortage in global oil supply and low US oil inventories, particularly in Cushing, Oklahoma. ICE Brent was $5.27 higher at $79.11/b compared with the previous month, NYMEX WTI was up $2.24 at $70.08/b and DME Oman increased by $6.08 to $78.75/b. Year-to-date (y-t-d), ICE Brent was $20.23 higher at $72.74/b, NYMEX WTI increased by $17.43 to $66.79/b and DME Oman was up $19.25 at $70.48/b, compared to the same period a year earlier. The Brent-WTI spread widened to average $9.02/b for the month. Speculative net long positions ended mixed, significantly higher for ICE Brent, while lower for NYMEX WTI. As for market structure, the backwardation in Dubai expanded sharply in September, while that of WTI eased. The Brent market structure flipped into backwardation amid concerns over a shortage global oil supply. Apart from Asian grades, the global sour discount to sweet crudes decreased due to an anticipated tightening of sour crude and high availability of sweet crude. World Economy The global economic growth forecast for 2018 was revised down slightly by 0.1 percentage point (pp) to now stand at 3.7%, due mainly to slowing growth in some emerging and developing economies. The 2019 forecast remains unchanged at 3.6%. In the OECD, growth in the US is assessed unchanged at 2.9% in 2018 and 2.5% in 2019 and Euro-zone growth remains at 2.0% for 2018 and 1.9% for 2019. GDP growth in Japan remains at 1.1% in both 2018 and 2019. In the non-OECD countries, India’s and China’s growth forecasts remains unchanged at 7.6% and 6.6% in 2018, respectively, and 7.4% and 6.2%, respectively, in 2019. Growth in Brazil was revised down by 0.1 pp to 1.1% in 2018, and by 0.2 pp to 1.8% in 2019. Russia’s GDP growth forecast is unchanged to stand at 1.6% in 2018 and 1.7% in 2019. World Oil Demand In 2018, world oil demand is expected to grow by 1.62 mb/d, a minor downward revision from last month’s projection. In the OECD region, oil demand saw healthy growth in all three main OECD regions, particularly in the Americas over 1H18. In contrast, the non-OECD region, mainly Latin America and the Middle East, saw weaker oil requirements in 1H18 as well as slower economic projections, which has led to a net downward revision of 20 tb/d from last month’s report. Total oil demand for 2018 is now estimated at 98.82 mb/d. In 2019, world oil demand growth is forecast to rise by 1.41 mb/d, a minor downward adjustment of 20 tb/d from the previous month’s assessment, mainly reflecting the less optimistic economic projections in the non-OECD regions of Latin America and the Middle East compared to last month. Total world oil demand in 2019 is now projected to surpass 100 mb/d for the first time and reach 100.23 mb/d. World Oil Supply Refinery margins in all the main trading hubs weakened in September, on retreating demand further exacerbated by nature-related events, despite the onset of peak refinery maintenance season. In the US, high refinery runs have kept product inventories well sustained fuelling bearish sentiment and thus softening the product market. In Europe, product markets lost ground, mostly pressured by gasoline, naphtha and fuel oil weakness, along with high feedstock costs, despite support from planned and unplanned outages reported during the month. In Asia, losses at the top and bottom of the barrel were partially offset by support from rising retail fuel prices due to a tightening gasoil market. Product Markets and Refining Operations Refinery margins at all main trading hubs recorded gains in August as several refinery outages prompted product supply disruptions, which led to strengthening at the top and middle of the barrel. In the US, product markets strengthened, supported mainly by higher product exports, particularly to Latin America. In Europe, declining Amsterdam-Rotterdam-Antwerp product inventories resulted in tighter product balances, which provided substantial support to refining margins. Meanwhile in Asia, refining margins strengthened on the back of lower refinery intakes caused by unplanned shutdowns and bullish market sentiment. Tanker Market Dirty tanker market sentiment was mixed in September. On average, dirty tanker freight rates were up by 4% from the month before, as a result of higher rates for Suezmax and Aframax, while VLCC rates remained flat. The overall dirty tanker market continued to suffer from an oversupply of ships, which mostly pressured freight rates. Relative gains were achieved in the Suezmax and Aframax classes due to the hurricane season, in addition to transit and port delays in several areas. Average clean tanker spot freight rates were also slightly positive, however gains were limited. Stock Movements Preliminary data for August showed that total OECD commercial oil stocks rose by 14.2 mb m-o-m to stand at 2,841 mb. This was 165 mb lower than the same time one year ago, and 47 mb below the latest five-year average. Crude stocks indicated a deficit of 6 mb, while products stocks witnessed a deficit of 41 mb. However, OECD commercial stocks remain 271 mb above the January 2014 level. In terms of days of forward demand cover, OECD commercial stocks rose by 0.5 days m-o-m in August to stand at 59.3 days. This was 3.8 days below the same period in 2017 and 2.5 days lower than the latest five-year average. Balance of Supply and Demand Demand for OPEC crude in 2018 is estimated at 32.7 mb/d, 0.8 mb/d lower than the 2017 level. In 2019, demand for OPEC crude is forecast at 31.8 mb/d, around 0.9 mb/d lower than the estimated level in 2018.  

10/31/2018

SLD $CL_F short strangle

CL JAN19 - 60 Put - 73 Call Short Strangle; SLD @ $1110
Expiry in 44 days
Margin impact $3400

Why? OVX


9/12/2018

TODAY IN ENERGY: The United States is now the largest global crude oil producer

Yeah…

TODAY IN ENERGY: Wednesday, September 12, 2018

The United States is now the largest global crude oil producer

The United States likely surpassed Russia and Saudi Arabia to become the world's largest crude oil producer earlier this year, based on preliminary estimates in EIA's Short-Term Energy Outlook (STEO). In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the United States surpassed Russia in crude oil production for the first time since February 1999.

See graph and read more...

Today in Energy, published every weekday, brings you short, timely articles with graphics on energy facts, issues, and trends. Questions, comments, story suggestions? Email us at todayinenergy@eia.gov.

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Brazil - IBGE raises 2018/19 coffee output estimate to 57.4 mln bags

9/10/2018

SOLD 1 CL FOP Nov'18 70 CALL @ 1.2

 

NQ delta is -22 now, Theta 220

 

 

Sld 1 NQ 710/7750 short strangle @ 55, expiry 18 day´s

 

SOLD 1 NQ FOP Sep14'18 7300 PUT @ 23 against short NQ

 

 

SOLD 1 NQ FOP Sep14'18 7500 CALL @ 31

 

 

ICO report shows lowest prices since 2013

India - Coffee Board sees 2018/19 crop loss of 1.4 mln bags

Uganda - Coffee exports fall 8% in July 2018

International - Certified arabica stocks rise above 2.2 mln bags

International - Tenderable robusta stocks rise to 1.243 mln bags

Brazilian Robusta exports grow more than 500 per cent

Coffee prices in August fall to 57-month low

https://icocoffeeorg.tumblr.com/post/177839830440

image

3/07/2018

Sugar news alert: Sugar futures ease as India output forecast hiked,boosting export talk

 

Sugar news alert

Wednesday:07 March 2018

Sugar futures ease, as India output forecast hiked, boosting export ideas

The Indian Sugar Mills Association lifts substantially its forecast for India's sugar output, spurring talk of the country's return to net exports

http://www.agrimoney.com/NewsletterRead.cfm/footer_1037_D97F12B7-EE56-715F-D76CD3919FFAD082_1.gif

 

3/03/2018

SOFTS-NY cocoa climbs to 14-month high, raw sugar edges up https://af.reuters.com/article/commoditiesNews/idAFL8N1QK3CK

Coffee Crop

Deep in Brazil's Mountains, a Coffee Boom Is Ready to Take Hold https://www.bloomberg.com/news/articles/2018-03-02/deep-in-brazil-s-mountains-a-coffee-boom-is-ready-to-take-hold

3/01/2018

#COFFEE EXPORTATIONS IN 2017/18 CONTINUE TO MOVE AT A SLOW PACE

Cepea, February 16, 2018 – Green coffee shipments started 2018 at a slow pace and may continue slow throughout this 2017/18 season. This scenario has been observed since 2017, because of refrained sellers, low supply in Brazil and the low interest of purchasers, who may wait for the beginning of the 2018/19 national crop to buy higher volumes. Besides the positive biennial cycle for arabica next crop, good weather conditions have helped the grains filling process for both varieties, arabica and robusta, and crops renewal, mainly for robusta, which may allow a large crop this year.

DESPITE THE OFF-SEASON PERIOD, QUOTES DROP IN BRAZIL #sugar

According to the last report released by Unica (Brazilian Sugarcane Industry Association), in the current crop (until Feb. 1, 2018), mills from central-southern BR have produced 35.831 million tons of sugar. If forecasts are confirmed, sugar production will decrease by 4 – 5 million tons in the 2018/19 crop.



Sugar



How to trade Coffee

Learn How to Trade Coffee: The Largest Soft Commodity in the World

2/23/2018

Brazilian farmers hold out for higher #coffee prices

Brazilian coffee farmers see current prices as insufficient to cover costs and have no intention of selling at the moment, despite a looming record crop, producers and market experts told Reuters.
https://af.reuters.com/article/commoditiesNews/idAFL8N1QD3AH

Short coffee?

Short coffee

Among soft commodities, arabica coffee futures rediscovered forward gears, rebounding 1.7% to 120.90 cents a pound for May delivery, for the first positive session in five.

Headway was helped by a stronger real, which gained 0.6% against the dollar, so boosting the value of assets in which Brazil is a major trading force.

Furthermore, bulls were encouraged by data showing a jump in open interest on Wednesday of 7,519 contracts to 230,077 contracts – fresh positions which, in a falling market, would appear to be short bets.

This provoked ideas of something of an overhang of short coffee bets, with many taken out at low prices, making them vulnerable to any rise in prices.

Brazil’s Cooxupé, the world’s largest coffee growers’ co-operative of coffee farmers, forecast that its exports of the bean will grow by 8% to 4.4m bags in 2018, bolstered by rising production.

Cooxupé’s chief executive, Carlos Paulino da Costa, told Reuters that the co-operative was expecting deliveries of 6m bags of coffee from its farmers in 2018, up from 4.7m bags last year.

Associated farmers’ total output, including coffee sold elsewhere, will reach 8.4m bags, up from 6.7m bags in 2017.

2/16/2018

2/09/2018

#Crypto mining projected y-o-y return @ HashFlare, weekly update

Profitability is off sharply from last week (2/2/2018)

TODAY IN ENERGY: U.S. energy-related CO2 emissions expected to rise slightly in 2018, remain flat in 2019

 

Energy Information
                    Administration (EIA) Logo - Need Help? 202-586-8800

TODAY IN ENERGY: Thursday, February 8, 2018

U.S. energy-related CO2 emissions expected to rise slightly in 2018, remain flat in 2019

EIA estimates that U.S. energy-related carbon dioxide (CO2) emissions declined by 861 million metric tons (14%) from 2005 to 2017. In the latest Short-Term Energy Outlook, EIA projects that CO2 emissions will rise 1.8%, from 5,143 million metric tons in 2017 to 5,237 million metric tons in 2018, then remain virtually unchanged in 2019. In 2019, energy-related CO2 emissions will be about 13% lower than 2005 levels.

See graph and read more...

Today in Energy, published every weekday, brings you short, timely articles with graphics on energy facts, issues, and trends. Questions, comments, story suggestions? Email us at todayinenergy@eia.gov.

Now you can publish or promote Today in Energy content on your website. Go to our outreach page for banners and badges, and to find widgets with the code that pull each day's Today in Energy

 

BOUGHT 100 $VXX @ 51

Cover

SOLD 100 $VXX @ 52.0911

Short

1/17/2018

SOLD some RIOT and HMNY put´s

Now full of Blockchain´s naked put´s. Finally decent IV to sell, between 110-210%.
OSTK, KODK, RIOT and HMNY

SOLD 1 SB FOP May'18 0.13 PUT @ 0.003

Now I sit and wait with #Sugar, burning Theta.


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