Oil market podcast archive - 2023

• January

  30 January 2023 energy update

  Investec Head of Commodities Callum Macpherson shares his insights on the fluctuation in oil prices last week and the upcoming EU embargoes on Russian refined products.

  19 January 2023 energy update

  Investec Head of Commodities Callum Macpherson looks at what 2023 holds in store for energy markets.

  16 January 2023 energy update

  Investec Head of Commodities Callum Macpherson examines the impact of the strengthening Brent price.

• February

  27 February 2023 energy update

  Investec Head of Commodities Callum Macpherson looks at some of the key topics that will be up for discussion at the International Energy Week in London this week.

  20 February 2023 energy update

  In its monthly report, the International Energy Agency has significantly increased its demand forecast for 2023, by 300kb/d. Investec Head of Commodities Callum Macpherson looks at what this means for the energy market.

  13 February 2023 energy update

  Brent rose at the end of last week after Russia announced a supply cut. Investec Head of Commodities Callum Macpherson discusses the significance of this development.

  06 February 2023 energy update

  The G7 has now agreed on a price cap on Russian refined products. Investec Head of Commodities Callum Macpherson lets us know how these caps will work and how they will impact the markets.

• March

  27 March 2023 energy update

  Brent was very soft at the start of last week, but then rebounded - Investec Head of Commodities Callum Macpherson looks at what has brought this about.

  20 March 2023 energy update

  After weeks of being fairly range bound, Brent dropped to its lowest level since December 2021 last week and is lower again this morning. Investec Head of Commodities Callum Macpherson discusses these moves.

  13 March 2023 energy update

  Investec Head of Commodities Callum Macpherson analyses the latest fall in oil prices.

  06 March 2023 energy update

  In this episode, Investec Head of Commodities Callum Macpherson discusses China's growth target and is the UAE leaving OPEC?

• April

  24 April 2023 energy update

  Brent fell back towards 80 $/b at the end of last week. Head of Commodities Callum Macpherson explains how this has happened in spite of the production cuts that have been announced.

  17 April 2023 energy update

  The International Energy Agency’s monthly report was published at the end of last week. Head of Commodities Callum Macpherson discusses what the IEA had to say about the state of the oil market.

  11 April 2023 energy update

  A week on now from the announcement of cuts to output from the Saudi’s and others, Investec Head of Commodities Callum Macpherson discusses oil market’s reaction.

  03 April 2023 energy update

  Investec Head of Commodities Callum Macpherson explains OPEC's decision to cut output and what it means for the markets.

• May

  30 May 2023 energy update

  The next OPEC+ meeting will be held on Sunday. Investec Head of Commodities Callum Macpherson discusses what might come out of that meeting.

  22 May 2023 energy update

  Investec Head of Commodities Callum Macpherson discusses the International Energy Agency’s latest monthly report on the oil market.

  09 May 2023 energy update

  Brent reached a low of 71 last week, but has now rallied back over 76$/b, Head of Commodities Callum Macpherson explains the shift.

  02 May 2023 energy update

  Brent has been trading under 80 $/b in recent days as the oil market continues to worry about the economic outlook. Head of Commodities Callum Macpherson discusses these dynamics.

• June

  26 June 2023 energy update

  There have been extraordinary events over the weekend in Russia, but this seems not to have had any impact on oil prices. Investec Head of Commodities Callum Macpherson explains.

  19 June 2023 energy update

  Investec Head of Commodities Callum Macpherson discusses the International Energy Agency’s published reports on the short-term and long-term outlook for the oil market.

  12 June 2023 energy update

  The market is still worried about demand. Investec Head of Commodities Callum Macpherson discusses the market dynamics.

  05 June 2023 energy update

  The OPEC+ has come to a complex agreement during their meeting on Sunday. Head of Commodities Callum Macpherson gives details of the decisions made.

• July

  31 July 2023 energy update

  Investec Head of Commodities Callum Macpherson examines the fundamental and macro drivers behind Brent breaking the $85 a barrel mark last week.

  24 July 2023 energy update

  It is unclear whether Saudi Arabia might extend its additional voluntary cut for another month. We discuss the sensitivity of the market to that decision

  17 July 2023 energy update

  Investec Head of Commodities Callum Macpherson unpacks the factors that pushed the global benchmark for Brent crude over the $80 mark last week, and looks at the prospects for the week ahead.

  03 July 2023 energy update

  When Saudi Arabia announced its additional one million barrel per day cut at the start of June, to apply to July it said it would only be for one month, the question is whether that cut will be extended into August. Investec Head of Commodities Callum Macpherson discusses market reaction.

• August

  21 August 2023 energy update

  Brent is lower again this week, after reaching a high of 88 a couple of weeks ago. Investec Head of Commodities Callum Macpherson explains.

  14 August 2023 energy update

  Investec Head of Commodities Callum Macpherson explains what’s behind the large increase in gas prices last week in Europe.

  07 August 2023 energy update

  Brent reached a high of over 86 $/b last week after Saudi Arabia announced that its additional voluntary cuts had been extended. Investec Head of Commodities Callum Macpherson explains why the country has done this and how significant is the move.

• September

  25 September 2023 energy update

  There was a new high in Brent - close to 96 $/b last week, but also lows close to 92 $/b. Is this a sign the rally is running out of steam? Investec Head of Commodities Callum Macpherson explains.

  11 September 2023 energy update

  Investec Head of Commodities Callum Macpherson discusses oil rallied strongly last week after Saudi Arabia announced an extension to its cuts.

  04 September 2023 energy update

  Brent reached its highest level since January this year, at the end of last week. Investec Head of Commodities Callum Macpherson explains what was driving that move.

• October

  30 October 2023 energy update

  In spite of the developments in Gaza, oil prices have not been moving much. Head of Commodities Callum Macpherson explains why.

  17 October 2023 energy update

  It is just over a week since the conflict in the Middle East, Head of Commodities Callum Macpherson takes stock of what energy markets have been doing since then.

  09 October 2023 energy update

  Brent set a low of under 84 $/b last week, rallied sharply this morning after the events that unfolded in Israel over the weekend. Head of Commodities Callum Macpherson discusses latest Brent moves.

  02 October 2023 energy update

  Brent set another new high over 97 $/b last week, but it is much lower today, Investec Head of Commodities Callum Macpherson discusses what has been behind these moves.

• November

  27 November 2023 energy update

  The weekend OPEC+ has been postponed. Investec Head of Commodities Callum Macpherson explains why this has happened.

  20 November 2023 energy update

  Last week saw further falls in oil and Brent reached a low of 76.60 $/b. Against this backdrop of weak prices, OPEC+ are meeting on this coming weekend. Investec Head of Commodities Callum Macpherson discusses how might they react to recent developments.

  13 November 2023 energy update

  The selloff in oil markets accelerated last week and Brent touched 79.20 $/b. Head of Commodities Callum Macpherson looks at the outlook.

  07 November 2023 energy update

  Oil prices have softened again as the market seems to be increasingly confident that the war in Gaza will not disrupt supplies. Investec Head of Commodities Callum Macpherson looks at the dynamics at play.

• December

  Listen to previous episodes

  11 December 2023 energy update

  Investec Head of Commodities Callum Macpherson looks back on the 2024 key events and what the outlook for 2024 is.

  04 December 2023 energy update

  The delayed OPEC+ meeting took place last Thursday. Investec Head of Commodities Callum Macpherson discusses what was discussed.

Oil market podcast archive - 2022

• January

  10 January 2022 energy market update

  OPEC met last week, after a decision in December to leave the meeting in session. Callum Macpherson gives an update on the outcomes of the meeting.

  17 January 2022 energy market update

  Investec Head of Commodities Callum Macpherson discusses his 2022 Oil Hedging Considerations note.

  24 January 2022 energy market update

  Brent came close to 90 $/barrel last week, what have been the drivers behind this? And what did the International Energy Agency have to say that interested the oil market?

  31 January 2022 energy market update

  Brent has now broken 90 $/b and we have an OPEC meeting on Wednesday, Callum Macpherson discusses what to expect out of the OPEC meeting.

• February

  07 February 2022 energy market update

  OPEC agreed to increase production at its meeting last week, but Brent has continued to rally, does this mean OPEC is not doing enough? And is the rally driven by speculators?

  22 February 2022 energy market update

  Russian President Vladimir Putin has escalated the situation in the Ukraine and Brent has set fresh highs and European gas prices are sharply higher. What can we expect next?

  28 February 2022 energy market update

  Since the Russian invasion of Ukraine Brent broke 100 $/b for the first time since 2014, Investec Head of Commodities Callum Macpherson discusses some of the key issues for the energy market where the conflict is concerned.

• March

  07 March 2022 energy market update

  Last week Brent broke through the 100 $/b mark and on Monday it came close to 140$/b, Head of Commodities Callum Macpherson discusses the unfolding events that are pushing up the price of oil.

  14 March 2022 energy market update

  Investec Head of Commodities Callum Macpherson discusses the oil price, Iran deal and the moves in the price of diesel and jet fuel.

  28 March 2022 energy market update

  Brent softer on Monday morning ahead of the OPEC+ meeting on Thursday.

• April

  04 April 2022 energy market update

  Brent came down again last week after the announcement of a release of crude from US strategic reserves, does the news of the reserve release ease supply issues for now?

  25 April 2022 energy market update

  The market has two main considerations; disruption from the war in the Ukraine and Covid outbreaks in China. How is the market reacting to these uncertainties?

• May

  03 May 2022 energy market update

  What should the market expect form the OPEC meeting on Thursday?

  10 May 2022 energy market update

  Brent traded as high as 114 $/b last week, Head of Commodities Callum Macpherson explains what’s behind this move.

  23 May 2022 energy update

  Brent traded over 115 $/b last week, does this mean brent is breaking out of its range? Investec Head of Commodities Callum Macpherson discusses the latest on the oil price.

  31 May 2022 energy update

  In this episode, Head of Commodities Callum Macpherson discusses China easing restrictions in some areas, the EU deal imposing an oil embargo against Russia and the upcoming OPEC meeting.

• June

  06 June 2022 energy update

  In this episode, Head of Commodities Callum Macpherson discusses market reaction to OPEC+ increasing output.

  20 June 2022 energy update

  The International Energy Agency’s monthly oil report was very bullish and yet oil prices fell heavily last week, Head of Commodities Callum Macpherson discusses the latest from the report.

  27 June 2022 energy update

  Head of Commodities Callum Macpherson discusses Iran talks, Russian oil prices and the oil market.

• July

  04 July 2022 energy update

  Brent is trading much lower than last week, Head of Commodities Callum Macpherson discusses the factors behind this.

  11 July 2022 energy update

  Brent traded under US$100/b for the first time since April, what is behind this? And is Covid playing a part again?

  18 July 2022 energy update

  What is driving the weaker price of oil? And what has US President Joe Biden achieved with his Middle East visit?

  25 July 2022 energy update

  Brent is back at over 100$/b, but remians soft and EU weakens some sanctions on Russia, listen to the discussion with Head of Commodities Callum Macpherson.

• August

  30 August 2022 energy update

  Head of Commodities Callum Macpherson gives an update on the oil price and market ahead of the OPEC+ meeting next week.

• September

  05 September 2022 energy update

  Head of Commodities Callum Macpherson gives an update on the price cap on Russian oil and what to expect from the OPEC+ meeting this week.

  13 September 2022 energy update

  Head of Commodities Callum Macpherson discusses what OPEC+'s decision to cut production mean for the balance of market.

  20 September 2022 energy update

  Head of Commodities Callum Macpherson discusses some big moves in gasoil and if the energy plan will help European markets.

  26 September 2022 energy update

  Brent traded under 85 $/b on Monday morning, taking it back to the lows at the start of March. Why has oil weakened so much? Head of Commodities Callum Macpherson discusses the latest on the oil market.

• October

  10 October 2022 energy update

  OPEC+ announced a 2million b\d cut last week, what will this mean for production?

  17 October 2022 energy update

  The International Energy Agency published its latest monthly report last week, warning about the risk of price spikes tipping the global economy into recession. What does all of this mean for oil prices?

  24 October 2022 energy update

  Brent traded below 90$/b last week and is not much higher on Monday. Last week, the US announced a reserve release, how much impact has this had on oil markets? And can the US continue releasing reserves in this way?

  31 October 2022 energy update

  Brent traded at its highest levels since early October last week, but is lower on Monday, what is driving the market at the moment? And a look at gas prices in Europe – the spot price is very low, but the futures are very low.

• November

  07 November 2022 energy update

  Contrary to recent rumours about China relaxing its zero covid policy, China has confirmed it will stick with the policy. What does this mean for oil?

  14 November 2022 energy update

  There were some big swings in oil prices last week, Head of Commodities Callum Macpherson discusses what’s behind this.

  21 November 2022 energy update

  There were sharp falls in oil prices at the end of last week, as Brent fell below 86 $/b. Investec Head of Commodities Callum Macpherson discusses these developments and what to expect from the upcoming OPEC meeting.

  28 November 2022 energy update

  There have been extraordinary scenes of lockdown protests in China over the weekend, Investec Head of Commodities Callum Macpherson discusses the significance of this is for energy markets.

• December

  05 December 2022 energy update

  OPEC+ met over the weekend, Investec Head of Commodities Callum Macpherson unpacks some of the decisions announced.

  12 December 2022 energy update

  Investec Head of Commodities Callum Macpherson discusses what was behind heavy falls in oil prices last week and how OPEC+ could react to market developments.

2021

• January

  11 January 2021 oil market update

  Brent has performed very well since the new year began increasing to $56 per barrel. We take a look at why this has occurred and what may happen in the near future. 

  18 January 2021 oil market update

  This week we talk through the 2021 Oil Hedging Considerations pieces which Callum Macpherson's team issued at the end of last week.

  25 January 2021 oil market update

  It's been a relatively quiet week for oil markets. Callum Macpherson unpacks the recent events impacting the markets this week. 

• February

  1 February 2021 oil market update

  Again the oil market has been little moved over the last week as Brent continues to trade around 55 dollars per barrel. 

  8 February 2021 oil market update

  Brent is trading at $60 per barrel for the first time since January 2020. Callum Macpherson analysis how this is possible considering demand is weaker now than it was then. 

  15 February 2021 oil market update

  Brent has continued to increase in price and has even come close to $64 per barrel today. We take a look at what is driving this move. 

• March

  01 March 2021 oil market update

  Brent breached $67 per barrel at the end of last week but is slightly lower this morning. We take a look at what to expect this week in the oil markets. 

  08 March 2021 oil market update

  Brent breached $70 per barrel at the end of last week but is slightly lower this morning. We take a look at what to expect this week in the oil markets. 

  15 March 2021 oil market update

  Brent is hovering around the $70 per barrel mark at the moment. But the large increase in US inventories reported last week has not impact price. We discuss this in our latest podcast. 

  29 March 2021 oil market update

  Oil markets have been watching the drama of the ship stuck in the Suez Canal. Reports this morning suggest the ship has been partially re-floated. We take a look at how this has impacted the market. 

• April

  6 April 2021 oil market update

  After last week's meeting, OPEC+ have reached a deal to increase output. Callum Macpherson discusses the details of what was agreed in this week's podcast. 

  12 April 2021 oil market update

  It’s now a week since OPEC announced its supply increase and the market seems to have taken this supply increase in its stride. We take a look at whether oil prices will continue in the low 60s for the foreseeable future.

  19 April 2021 oil market update

  This week, Callum takes a look at the IEA report and what it had to say about the state of the oil market.

  26 April 2021 oil market update

  This week, we take a look at what OPEC might be speaking about ahead of a meeting on Wednesday.

• May

  04 May 2021 oil market update

  OPEC has decided to stick to its planned increases for July and yet the market has rallied, head of commodities Callum Macpherson analyses why this may be. 

  10 May 2021 oil market update

  Head of commodities, Callum Macpherson takes us through the recent cyberattack that affected a pipeline in the US. 

  17 May 2021 oil market update

  In this week's podcast, Callum discusses the possibility of breaking the $70 per barrel oil price and the conclusion to the cyber attack on the colonial pipeline in the US. 

  24 May 2021 oil market update

  The price of oil managed to break $70 per barrel last week but not for very long. Callum Macpherson takes a look at what drove this as well as other factors impacting the market. 

• June

  7 June 2021 oil market update

  This week Investec's head of commodities Callum Macpherson discusses the recent OPEC meeting and the reasoning behind the decision to increase production in June and July by 700,000 barrels. 

  14 June 2021 oil market update

  The G7 Meeting has been going on in recent days and tackling climate change has been one of the key themes. We discuss what has been agreed and how might it affect energy markets in the years ahead. 

  21 June 2021 oil market update

  In this week's podcast, we discuss the impact of the newly elected president in Iran and the increase of oil prices to $75 per barrel off the back of the US inventory report, published on Wednesday. 

  28 June 2021 oil market update

  Brent set its highest level since 2018 at $76.60 per barrel last week and so OPEC+ is looking likely to increase output when they meet up on Thursday. We discuss this and more in the latest Oil Market Update. 

• July

  05 July 2021 oil market update

  OPEC met last week but failed to reach an agreement. Discussions centred around increasing production between August and December, however, the United Arab Emirates blocked the deal. We discuss the detail behind the stalled talks in this week's podcast.

  12 July 2021 oil market update

  Brent has traded in a very wide range since last week's OPEC meeting. Callum discusses the results of the meeting, US inventories and what we should be looking out for in the oil markets this week. 

  19 July 2021 oil market update

  This week, we look at the implications of the agreed increase in oil production in May 2022, after initial resistance from the UAE. 

• August

  09 August 2021 energy market update

  Oil prices are below $70 per barrel this morning having traded lower compared to the middle of last week. We discuss what's been driving this and what it means for the oil outlook. 

  16 August 2021 energy market update

  Oil prices are still below $70 per barrel this morning having failed to bounce back after last week. We discuss what's been driving this and what it means for the oil outlook. 

  23 August 2021 energy market update

  There have been some sharp moves lower in oil prices this week. We discuss what is behind this in the latest energy market podcast. 

  31 August 2021 energy market update

  In today's energy market podcast, we take a look at the impact of Hurricane Ida on production.

• September

  13 September 2021 energy market update

  In this week's podcast, we discuss the impact of Hurricane Ida on oil production and progress being made with Iran and nuclear inspectors. 

  20 September 2021 energy market update

  In this week's podcast, we discuss the reasons behind the latest oil price rally and the causation of the recent hike in gas prices. 

  27 September 2021 energy market update

  In this week's podcast,  Brent reached a high of over 79$/b - we discuss why this happened and what is the significance of this.

• October

  4 October 2021 energy market update

  In this week's podcast, OPEC+ are meeting on Monday 4 October - what will be the possible outcomes?

  11 October 2021 energy market update

  In this week's podcast, the market has moved higher since OPEC met on 04 Ocotber 2021. Has OPEC done too little?

  18 October 2021 energy market update

  In this week's podcast, brent has broken 86 $/b and in its report published last week, the International Energy Agency has said that demand will increase because of fuel switching. How tight is the market likely to be in the coming months?

  25 October 2021 energy market update

  In this week’s episode, Brent has set a new high this morning after trading mostly sideways last week, Callum Macpherson unpacks what’s behind the latest numbers.

• November

  01 November 2021 energy market update

  In this week’s episode, we look at what's the expected outcome of the  OPEC+ meeting taking place on Thursday 4 November and with Brent off its highs - is the market worried OPEC+ might increase output?

  08 November 2021 energy market update

  In this week’s episode, Callum Macpherson unpacks market reaction after OPEC+ decided to increase output by 400kb/d, when it met last week.

  16 November 2021 energy market update

  In this week’s episode, Brent reached a high of over 79 $/b - why did this happen and what is the significance of this move?

  22 November 2021 energy market update

  In this week’s episode, the sell-off in oil deepened last week and Brent traded under 80$/b - what's driving this?

  29 November 2021 energy market update

  In this week’s episode, there was a tremendous sell-off on Friday of around 10 $/b -  the market has recovered some of those losses this morning. Was this an overreaction?

• December

  06 December 2021 energy market update

  In this week’s episode,  OPEC agreed to go ahead with their increase to output, but insisted that the meeting has not ended. Investec Head of Commodities Callum Macpherson gives an in-depth analysis.

  13 December 2021 energy market update

  In the last episode of the year, the oil market has been stronger over the last week -  is the market becoming more confident about Omicron?

2020

• January

  6 January oil market update

  We take a look at the implications for the oil market after the events surrounding Iran and what it might mean for the future. 

  13 January oil market update

  Today's podcast focuses on the 2020 oil hedging considerations piece, which you can download below.

  27 January oil market update

  We analyse the impact of the coronavirus on the oil market.

• February

  2 February oil market update

  We take a look at the further sell-off inBrent this week as lows reach 56 $/barrell.

  10 February oil market update

  There are fresh lows in Brent under 54 $/barrell last week as the coronavirus continues to spread. 

  17 February oil market update

  Brent set a new low last week, but then managed to recover sharply. We analyse this and other movements in the oil market this week.

  24 February oil market update

  It's International Petroleum Week in London this week. We review this and other factors impacting the oil market.

• March

  2 March oil market update

  Oil markets suffered heavy falls as signed increased of the coronavirus spreading outside of China.

  30 March oil market update

  We take a look at the latest oil movements as the continued virus outbreak puts more pressure on the oil markets. 

• April

  6 April oil market update

  Last Thursday President Trump sparked some activity in the oil markets and Brent even went over 50% at one point, we take a look at all of this in the latest oil market update. 

  14 April oil market update

  Over the weekend OPEC+ reached an historic deal with the US and others and agreed to a dramatic cut in production and yet the market has hardly moved. We review this and other market movements.

  20 April oil market update

  Last week we were talking about the possibility of the market moving lower and that is certainly what happened. Brent traded under 27 $/b earlier this morning. 

  27 April oil market update

  There was a dramatic and historic downturn last week as May WTI went as low as -40 $/barrell. We discuss this and whether it's a one-off or a sign of things to come. 

• May

  4 May oil market update

  We take a look at whether the crisis for oil has surpassed as the market becomes more positive. 

  11 May oil market update

  Last week, the oil market was relatively stable and Brent hovered around 30 $/b - we analyse this and more in this week's podcast.

  18 May oil market update

  Last week oil, again, traded in quite tight range around 30$/b. But at the end of the week the market moved higher - we analyse this and more in this week's podcast.

  26 May oil market update

  The bank holiday caused a minor rally in oil prices yesterday, perhaps due to what Exective Director of the International Energy Agency, Fatih Birol, said regarding peak oil demand. We discuss this and more in this week's podcast. 

• June

  1 June oil market update

  There has been a strong start for Brent this week, we take a look at the latest increase and more in this week's oil market update. 

  8 June oil market update

  Brent broke 43 $/Barrell this morning after OPEC agreed to extend its cuts. We take a look at the changes outlined. 

  15 June oil market update

  This week we take a look at the downturn for Brent and where it may go from here. 

  22 June oil market update

  Brent rallied back up towards the highs of the month at the end of last week around 43 $/b, we discuss this and morein this week's podcast. 

  29 June oil market update

  In this week's podcast, we discuss whether the fears of a second coronavirus outbreak are behind the softening in Brent. 

• July

  06 July oil market update

  Brent is back up to the top of the range at over 43 $/barrell, we discuss this and the large fall in US inventories as well. 

  13 July oil market update

  The market has been very range bound again over the last week, Callum delves into this, the IEA's monthly report and the possibility of OPEC+ extending cuts again. 

  20 July oil market update

  There has been, again, very little movement in markets this week. However, we take a look at the sharp fall in US inventories and where the market might go from here.

  27 July oil market update

  Brent did trade a little higher last week, but still did not break $45 per barrell. We take a look at this and other things to look out for this week. 

   

• August

  03 August oil market update

  We finally saw some movement in Brent last week as it traded under 41.50 on Thursday, we take a look at what might be behind this recent move. 

   

  10 August oil market update

  Brent traded over 46 dollars per barrel last week, which is actually the highest since early March. We analyse this and what the recent Covid data can tell us about demand outlook. 

   

  17 August oil market update

  In this week's podcast we respond the International Energy Agency's July report. 

   

  24 August oil market update

  The oil market was softer at the end of last week with Brent touching a low of 43.50 $/b, but still relatively range bound.

   

• September

  7 September oil market update

  Brent reached $41.50 per barrel earlier today. We analyse this and US inventory numbers and gasoline demand.

   

  21 September oil market update

  Callum Macpherson looks back on a volatile week for the oil market and examines the significance of recent moves. 

  29 September oil market update

  The oil market appears to have quietened down again, we analyse why it has settled down and the rising strength in diesel demand. 

• October

  5 October oil market update

  Due to a number of reasons including; coronavirus and uncertainty over President Trump's health, Brent traded down to its lowest levels since June last week. Callum Macpherson reviews this and what may happen in the next few days. 

  12 October oil market update

  Brent rallied strongly at the end of last week, possibly due to Hurricane Delta passing through. We analyse this and other factors impacting oil price this week. 

• November

  2 November oil market update

  We saw a break out in the range last week and Brent moved down to the mid-30s, Callum analyses the contributing factors. 

  16 November oil market update

  We take a look at how the news of a potential Covid-19 vaccine will have on the oil market. 

  23 November oil market update

  Brent rallied up to 46 dollars per barrel this morning in response to positive news surrounding Covid-19 vaccines. We take a look at what this may mean for OPEC heading into 2021. 

  30 November oil market update

  OPEC and its associates have a lot to think about as its two-day meeting starts today (Monday 30 November). 

• December

  7 December oil market update

  OPEC emerged after agreeing on a deal concerning oil demand. Callum analyses this and the impact on the oil market. 

2019

• January

  21 January oil market update

  In this episode we take a look ahead to 2019 and the commodities team's recent hedging considerations 2019 report.

  28 January oil market update

  This week's episode focuses on the impact of the political movements in Venezuela on the oil market.

• February

  25 February oil market update

  This week's episode centres on more news coming from Venezuela, easing trade tensions between the US and China, and a look ahead towards petroleum week.

• March

  4 March oil market update

  In this episode, we take a look at some month end data from Bloomberg and the key learnings from International Petroleum week hosted in London last week.

  11 March oil market update

  In a slightly quieter week for the oil market, we take a look at the restart in oil production in Libya and the possibility of a breakout for Brent.

  18 March oil market update

  We give our reaction to Brent reaching a new high of the year and what impact, if any, the recent IEA report had on the markets.

  25 March oil market update

  In this week's podcast we take a look at the movements in Brent recorded last week and where it might be heading in the future.

• April

  2 April oil market update

  Brent reached an new high of the year at 69.5 $ per barrel recently, we take a look at this, the trade discussions between China and US, and whether Brent can hit the 70 $ per barrel mark.

  8 April oil market update

  Historically, Libyan oil production has suffered from political instability, and over the weekend there have been reports of fighting near Tripoli as forces loyal to General Haftar advanced on the city. Callum analyses this and the overall disruption in Libya's oil production.

  15 April oil market update

  In this week's episode we shift our focus slightly from oil to gas and discuss the similarities between the gas market and the oil market.

  29 April oil market update

  Brent rallied to a new high of the year last week to over 75$/b, but was back below 72 by the end of the week. We take a look at what was driving this.

• May

  7 May oil market update

  This week we discuss the surprise twist in the US/China trade talks, the US sending an aircraft carrier to the Middle East, and whether increases in US crude inventories suggest the market is over-supplied.

  13 May oil market update

  In this episode we are joined by head of upstream oil and gas advisory, Jonathan Wolf, to talk about developments in US production and the outlook for US shale.

  20 May oil market update

  This week, we will be looking at the International Energy Agency's latest report on the state of supply and demand in the oil market, the drone attacks on Saudi oil infrastructure and what this might mean for oil markets and the technical outlook on Brent.

• June

  3 June oil market update

  Following the fall in oil prices in the recent days - we take a look at the drivers behind this and what it might mean for the OPEC meeting later this month.

  10 June oil market update

  Oil fell further last week, so we take a look at whether we have seen the low for now and consider the outlook for US summer demand.

  17 June oil market update

  We take a look at the reported attacks on tankers in the gulf and a relatively negative report from the IEA in this week's podcast.

  24 June oil market update

  With Brent rallying very sharply last week and US/China trade talks possibly restarting, we take a look at a potentially positive week for oil.

• July

  1 July oil market update

  With a busy weekend with the G20 summit in Osaka taking place, we take a look at this and other news impacting the oil market.

  8 July oil market update

  We take a look at what has been impacting oil prices this week including movements at the latest OPEC meeting and what impact the incident involving the British seized Iranian oil tanker.

  15 July oil market update

  It was quite a mixed week last week with the market moving significantly higher due to tensions in the gulf and a fall in US inventories. We review this and the news coming from the International Energy Agency.

  29 July oil market update

  There hasn’t been much movement in oil prices over the last week, but we did see a large draw in US inventories. We explore that, the IHS report on shale investor pressure and upcoming events which could affect Brent’s recent stability.

• August

  5 August oil market update

  There were some sharp movements lower in the oil markets at the end of last week. We analyse this and how it may impact outlook.

  12 August oil market update

  It was another week of very sharp movement lower last week, we take a look at the drivers behind that and what to look out for in the week ahead.

  19 August oil market update

  The high of 61.50 $/barrel did not last long last week as it decreased down to 57.67. We take a look at why it has been so choppy.

• September

  2 September oil market update

  Now that we are in September, we review the turbulent month of August, which saw oil trade between 56 $/b and over 60 $/b.

  9 September oil market update

  The market ended quite strongly last week with Brent over 62 $/barrell, in this week's podcast we're going to be focusing on the change in oil minister in Saudia Arabia.

  16 September oil market update

  It has been a busy week in the energy markets, however all of it paled into insignificance compared with the drone attack on Saudi Arabia over the weekend.

  25 September oil market update

  A week since the attack on Saudi Arabia, the market seems to have calmed down considerably. We talk about what’s behind the scenes of this quickly faded disruption, the blame of Iran, and where Brent’s prices might go from here.

  30 September oil market update

  As the oil market continued to soften last week, we look more closely at the recovery in Saudi production since the attack, how the market has got itself comfortable with falling back to pre-attack levels and what the focus will be now.

• October

  7 October oil market update

  With Brent trading at under $57 per barrel last week, we look more closely at why the market has become so negative, and whether there is scope for it to go much lower.

  14 October oil market update

  It's been an eventful week in the oil markets, Callum Macpherson sums up last week's events, including the attack on an Iranian tanker and reports coming from the Oxford Institute of Energy Studies and the IEA.

• November

  4 November oil market update

  This week we focus on the slight dip in Brent last week and other news surrounding the oil markets including the UK Government's ban on fracking and the Aramco IPO. 

  11 November oil market update

  Brent hovered around 62 $/barrel last week, in what was a relatively range bound week. We take a look at the key events impacting the market. 

  18 November oil market update

  This week we look ahead to the OPEC meeting which is just over two weeks away.
  

  25 November oil market update

  Although it has been a quieter week, we take a look at the wider trading ranges seen in recent times as well as looking ahead to OPEC meeting next Thursday. 

• December

  2 December oil market update

  This week we anaylse the dramatic move lower in oil markets along with the potential decisions that could be taken by OPEC when they convene on Thursday. 

  9 December oil market update

  On this week's podcast, Callum reports on last Thursday's OPEC meeting, including a significant cut announcement. 

2018 podcasts

• December

  10 Dec oil market update

  Today, we discuss the latest OPEC meeting and the headline message that OPEC will be cutting production by 1.2mn barrels a day.

  3 Dec oil market update

  With oil prices recording a sharp recovery today there is a lot of noise coming from the oil market today. We also look forward to the OPEC meeting this Thursday.

• November

  26 Nov oil market update

  The price of Brent plunged to less than $60 per barrel this week, we take a look at the possible reasons behind this and whether this is in fact the lowest we'll see.

  19 Nov oil market update

  Today we’ll talk through the very heavy sell-off in oil prices last week, we will consider whether the shift in sentiment is justified by fundamentals and if it could lead to OPEC cutting production.

  12 Nov oil market update

  Today we discuss the recent OPEC meeting in Abu Dhabi, last week's sell-off, the shape of the forward curve and what to look out for in the weeks ahead.

  5 Nov oil market update

  Today we talk about US sanctions which are now in force, what caused the move lower last week and the upcoming OPEC meeting.

• October

  29 Oct oil market update

  We'll be talking about the drivers behind the heavy sell off in markets last week and touching upon the attempt by the US to delay the implementation of the Sulphur Cap in 2020.

  22 Oct oil market update

  This week we focus on Jamal Khashoggi and the possible impact this will have on oil prices.

  15 Oct Oil market update

  Brent finally falls among a number of key events in the week including the latest report from the International Energy Agency and the disappearance of the Saudi journalist, Jamal Khashoggi.

  8 Oct Oil market update

  Brent breaks through $85 per barrel, where will the market go next? We also hear from special guest Chris Brand to talk about currency.

  1 Oct Oil market update

  Today focuses on the 4 year high in Brent and what the investors have been doing in light of this.

• September

  24 Sep Oil market update

  Oil prices go above $80 a barrel and are beginning to increase further, we discuss the possible reasons behind this.

  17 Sep Oil market update

  This week we take a look at the possible implications of Hurricane Florence on the price of oil.

  11 Sep Oil market update

  After last week's low for Brent, we take a look at why it is starting to show strength once again.

  4 September: Oil market update

  In our first of a weekly podcast, we take a look at why the price of oil has spiked since last month.