Oil Price The United States is likely to tighten the sanction enforcement on Iran’s crude oil exports over the Hamas-Israel war and the Iranian backing of Hamas, Helima Croft, the head of global commodity strategy at RBC Capital Markets, told CNBC on Wednesday. “The Biden administration is desperate to contain this war, they clearly do not want it spilling beyond Gaza,”
Oil Price Crude oil prices have found a floor and the only way they can go from here would be higher. That’s according to RBC commodity analysts Helima Croft and Michael Tran, as quoted by Bloomberg. “We remain constructive on the fundamental framework, and in fact, we would not be the least bit surprised if the lows of the year
CNBC The fortunes of the oil market have turned around dramatically in the past month. This time last month, investors were watching the futures market in disbelief. The May contract for West Texas Intermediate oil was set to expire, and prices did the unthinkable — they plunged 300% in one day, deep into negative territory. In the spot market all across North America, prices
From Bloomberg Supply and demand both falling quickly, says BofA’s Blanch, Energy investors beat sector ‘to death’: RBC Capital Markets Oil flirted with bear-market territory as Saudi Arabia insisted OPEC will avert a global supply glut after international trade brinkmanship triggered the steepest monthly slump this year. Futures gained as much as 2.1% in New York on Monday before surrendering
RBC Capital Markets analysts said while oil production in crisis-plagued Venezuela is poised to “plunge” in 2018, the extent of its losses could be far worse than investors were anticipating From CNBC An attendant sits at a closed Petroleos de Venezuela SA (PDVSA) gas station in Caracas, Venezuela, on Friday, Sept. 22, 2017. Oil traders expecting steep production losses from
U.S. crude oil stocks at this point in 2017 have dropped below the record highs of 2016. But inventories are still high. So in the face of predicted increasing oil production from shale in 2017, rebalancing inventories will be difficult, if it is even possible. However, a rebalance is still plausible according to an RBC Capital Markets report that identified
Canada’s big three banks all beat quarterly estimates Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce all topped profit estimates despite their exposure to the embattled oil and gas sector. Gross impaired loans to the oil and gas sector increased at all three lenders, but each saw strong results in other sectors. CIBC CIBC reported a
Canadian banks have $80 billion of exposure to oil including untapped loans Canada’s top banks have a combined exposure of C$107 billion (USD$80 billion) to the oil and gas industry, inclusive of untapped credit lines, reports Bloomberg. Canadian Imperial Bank of Commerce said in its earnings call that total exposure to oil and gas firms rose to C$18.7 billion in
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