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DAVID LENNOX
On This Day in History, June 8: Porsche is born, Ghostbusters release, Siam renamed Thailand, Orwell's Nineteen Eighty-Four published, NFL merger announced, Robert F. Kennedy laid to rest and other major eventsOn This Day in History, June 8, the world witnessed events that shaped politics, warfare, literature and culture. The Viking raid on Lindis...- Can crude prices fall to $100 or below? David Lennox explains“If there was a real crunch coming in the oil prices and it did start to surge a lot higher, we would start to see US production coming bac...
- Will oil cross $147 or be back below $100? David Lennox analyses“If energy sanctions are imposed against Russia, then the previous oil price highs will be taken out. If that does not happen and we do not...
- Oil prices set to rally in 2021: David LennoxAs more US dollars are being put into circulation, that is raising the price of gold, says David Lennox.
- Brent should stay at $30 for some time with potential downside risk'Traders pricing a lot of moving parts in their forecasts'
- Market getting mixed signals from Opec and its allies: David Lennox, Fat ProphetsIf OPEC, US do not cap production, there would be considerable pain for oil prices, says Lennox.
- If Saudi Arabia is not careful, oil prices could go sub $50: David Lennox, Fat ProphetsWe have a range of $74-84 for the calendar year and even that looks far off, says Lennox
- Still think Brent will finish the year at $74-84: David Lennox, Fat ProphetsIf countries like India are allowed to import from Iran, then market will continue as normal, says Lennox
- Brent crude to continue to be volatile in $74-84 range: David Lennox, Fat ProphetsDon’t read too much into Khashoggi event, says the Fat Prophets research analyst
- Logistics chain, not dollar index, influencing oil price: David Lennox, Fat Prophets“With Iran sanctions, 2 million barrels of oil will go out of the supply chain.”
- Expect Brent price to move in $70-74 range in near term: David Lennox, Fat ProphetsEnd of year price estimate for Brent is still in $74-$84 range, says Lennox.
- Without US oil supply, crude prices could touch $90-95: David Lennox, Fat Prophets“Significant improvement in demand is being forecast coming into the summer period in the northern hemisphere.”
- Expect volatility in aluminium and broader commodities' pricing: David Lennox, Fat Prophets“Synchronised economic growth provides a very good tailwind for broader commodities”
- Expect WTI crude at $70-80 and Brent at $74-84 by end of CY18: David Lennox“There has been no mention at all of either oil or natural gas in tariff notifications.”
- Crude oil prices should remain soft in near term: David LennoxIraq and Libya are already starting to stretch their production.
- Near term, crude could settle at $40-$42 a barrel: David Lennox, Fat ProphetsThe markets are now getting concerned that US production is again on the increase.
- Not expecting much from Opec meeting: David Lennox, Resource Analyst, Fat Prophets“History is against OPEC coming out with any decision and then sticking with it as we have seen time and time again”
- Till 2016 end, oil unlikely to move beyond $50: David Lennox, Fat Prophets“The 700,000 barrel cut that they suggested is in the middle of no man’s land as the surplus we is about 1 million barrels.”
- Difficult for oil prices to establish a floor: David Lennox, Fat ProphetsWe will need to see some action on the supply side to actually rein in a production deficit of 1.5 million barrels of oil a day, says Lenno...
- Q2 US GDP at 3.7% main reason for 10% surge in crude oil prices: David Lennox, Fat ProphetsThat is what is driving the prices of the crude up. Don't forget that the US is still the biggest consumer of petroleum products.
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