8,023 Active Recruiters     Over 2 Million Candidates Globally

Advanced
  1. Keep me logged in
  2. forgot password
cancel

Checkout Jobs Basket (0)

You can checkout a maximum of 150 jobs.

Signup Better for Candidates

  • Create a free virtual CV and let recruiters find you
  • Automatically have your profile matched to suitable Oil & Gas positions
  • Link to your profile using it as a free online CV
  • Store all your employment documents to your profile for easy sending
  • Always receive feedback on positions applied for

Signup Better for Recruiters

  • Advertise Oil and Gas jobs for free
  • Suitable candidates automatically matched to your position
  • View candidate profiles for free
  • No more waiting for candidates to respond to job advertisements
  • Only ever pay when you match a candidate to a position
  • No more cold calling and sorting through out dated CVs

Morgan Stanley Sees Oil Price Risk Skewed to Upside

Published in Oil Industry News on Wednesday, 14 February 2018


Graphic for News Item: Morgan Stanley Sees Oil Price Risk Skewed to Upside

Morgan Stanley said it expects oil price risks to be skewed upwards in the months ahead despite a loss in momentum over the past couple of weeks as the market remains in deficit, which could keep the forward curve in backwardation.

The investment bank, which kept its oil price forecasts unchanged, said all main crude forward curves continued to show a healthy level of backwardation.

Last month, the bank raised its Brent price forecast to $75 per barrel for the third quarter of 2018.

“The key attraction of oil futures in recent months has been its backwardated structure, which is providing an attractive level of roll yield of 6-7 percent annualised,” Morgan Stanley analysts wrote in a note on Monday.

“This has supported prices along the forward curve in recent months.”

Backwardation, when the front-month contract is more expensive than subsequent months, makes it uneconomical to store crude, resulting in the drawdown of inventories. It is usually seen as a sign that the market is rebalancing and that prices are likely to head higher in future months.

“Despite sharp sell-offs through financial markets, the backwardation in the Brent, WTI and Dubai curves is broadly unchanged over the last few weeks,” the analysts wrote.

“The fact that the curve has stayed backwardated is a positive sign about the health of the physical market.”

Oil rose 2 percent on Monday, recovering some of last week’s steep losses as global equities steadied after their largest one-week slide in two years.

Source: www.reuters.com

Please leave comments and feedback below





Tags

global Oil and Gas, Oil and Gas Price, Oil and Gas News








Oil and Gas News Archive


Latest Oil & Gas News







Featured Companies

  • View All JobsNOVATEK

    NOVATEK is one of the largest independent natural gas producers in Russia.

    Engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons, NOVATEK have 20 years of operational experience in the Russian oil and natural gas sector.

    Visit us online: www.novatek.ru/en/

  • View All JobsChronos Oil and Gas

    Chronos Oil and Gas is one of the fastest growing and best placed recruitment agencies in the sector.

    With over 300,000 candidates on our database and an international team of specialist recruiters we work with clients to staff major projects around the world.

    Register your CV at www.chronosoilandgas.com

  • View All JobsNatural Resources

    Natural Resources is a UK based recruitment company providing personnel of all disciplines and nationalities worldwide.

    We represent clients and candidates at all levels who operate globally within oil & gas, renewables, nuclear, power, mining, marine, drilling, construction and petrochemicals. Our client base includes energy and construction.

    Visit Natural Resources at natural-resources.com