A closer look at fund managers' energy market futures and options positioning
A closer look at underlying storage conditions for EU member states shows uneven exposure to winter ‘25-’26 supply risks
OPEC8+ production jumped another 349 kb/d M/M in July to an aggregate 31.7 MMb/d, coming in 371 kb/d higher than the group’s intended output after another month of unmet compensation commitments.
BH's latest data suggest the market may see meaningful differences between actualized OPEC8+ production and the 1.1+ MMb/d of announced supply growth due to hit the market in the next two months.
Today’s EIA data showed PADD 2 net inputs gained ~76 kb/d W/W to 4.21 MMb/d last week, marking the eighth week out of the past nine with top-decile throughput relative to the past ten years (seasonally-adjusted).
The ISM U.S. Manufacturing PMI registered 48.0 in July, down 1 point from June and the fifth consecutive month of contraction.
Solar generation growth remained a powerful source of demand destruction for the South Central gas market this month, as ERCOT’s average mid-day solar generation jumped more than 47% above average rates from July 2024.
Global floating crude stocks gained sharply last week, picking up 15.95 MMb W/W to 82.27 MMb
Guyana’s crude oil production averaged 664 kb/d in June 2025, a slight dip from the record average of 667 kb/d in May but enough to raise average 1H25 output to 639 kb/d versus 623 kb/d in the same period last year.
