LATEST NEWS
Oil Net Short For First Time in History
By Julianne Geiger - September 13, 2024
Brent crude oil is currently priced at $72.14 per barrel, showing a slight increase of $0.17 (+0.24%) for the day. However, behind this small rise is a much larger story unfolding in the oil markets. According to energy investor and market commentator Eric Nuttall, the financial demand for oil, known as "net length," has dropped to its lowest point in history. Essentially, "net length" refers to the difference between the number of investors betting oil prices will rise (long positions) versus those betting they will fall (short positions). When net length is low, it means there is a reduced belief that prices will increase. What's even more striking is that, for the first time ever, the paper market for Brent crude is "net short."
The UK based company TORUS GROUP has doubled its cash reserve to 2 Billion Euros
By Syrus Mill - September 14, 2024
Torus Group is poised to become a major player in the provision of financial collateral in the form of SBLC or BG from Deutsche Bank in Frankfurt. Many more or less serious companies offer this type of service without having the capacity, causing a lot of suspicion in this sector of finance. TORUS GROUP works without intermediaries, with its own money and has recently doubled its cash reserves which reach more than two billion euros today. No payment of fees is required before a reassuring bank-to-bank contact for the customer and the provision of an irrevocable bank commitment document. The initial costs after RWA are very modest compared to the guaranteed sums which can reach several hundred million euros.
Saudi Arabia Set To Boost Crude Oil Supply to China in October
By Tsvetana Paraskova - September 12, 2024
Saudi Arabia is expected to increase its crude oil supply to China in October after the world’s top crude exporter cut the prices of the oil it sells in Asia, trade sources told Reuters on Thursday. The Kingdom is set to ship a total of 46 million barrels of its crude to China next month, up from an estimated 43 million Saudi barrels expected to land in the world’s largest crude importer in September. China’s biggest state refiners Sinopec and PetroChina have asked for more supply from Saudi Arabia loading for October, Reuters’ trade sources said.
