The Fuelers Private Limited’s Post

EM’s will be largely impacted by Brent YTD in less than 3 months it’s up 10% We are headed to $95 But my macro charts suggest $120-$140 on Oil Esp interest rates in India will be impacted quite negatively It’s been sideways to outperforming US but we will test this CY 7.70 YTM

Petrol price goes up by Rs9.66 per litre

The Chart below shows petrol prices over a period of 25 years. What do you notice ?

Government increased petrol price by Rs1.35/lit to Rs248.38/lit; IFEM rises by Rs4.17/lit, PDL unchanged at Rs60/lit.

Petrol prices may rise by Rs2.50 to Rs2.80 per litre, while HSD could increase by Rs8 to Rs8.50 per litre Read: https://lnkd.in/dkAVjiZN

🚨 Fuel Price Alert! 🚨 Petrol and diesel prices in Pakistan are set to rise by Rs. 45 per liter following new IMF demands. Understand the economic impact and what this means for you. Stay informed and prepared! #FuelPriceHike #EconomicImpact #PakistanFuelPrices Read More: https://lnkd.in/dxYTBvaV

#EURUSD: EU CPI nos came in as expected- flat and sticky; the Ukraine developments caused a sell off which was then bought into; the key level is now 1.0600; a break opens up 1.0636; support below 1.0600 firmly at 1.0535; sell on rise

Nov Brent futures premium over Dubai partials has inverted in recent sessions, with Dubai, “oddly outperforming” according to one trader. Today Brent reclaimed some ground. Weak macros have failed to shake prompt strength out of Brent; front spread rose to 53c of backwardation. Consensus from APPEC was overwhelmingly negative, OPEC let a little air out of their ballooned demand forecast, and today the IEA revised down their demand forecast for 2024, it’s not a pretty picture. With very few trading months left for 2024 oil, where is the strength coming from? Or, as old sage Fereidun Fesharaki said at the 40-year anniversary gathering of FGE, ‘Where is the weakness coming from?’ He noted that the oil figures are showing inventory depletion, and his numbers do not show anywhere near a contraction in demand. On the contrary FGE sees a 1.4mb/d demand growth y/y. But FGE also noted Gunvor only see 650kb/d demand growth, meaning they acknowledge the wide gulf in estimates. Yes, inventories in the US have depleted, but isn’t that what is supposed to happen in the summer months? #Derivatives #OOTT

The rally in Euro stalled yesterday after the Industrial Production numbers for January 2024 in Europe came in far lower than expected. Brent Crude rose to 84.25 as US gasoline inventories shrank and Russian OIl refineries were attacked. The Yuan has neared 7.20 yet again as rising mortgage delinquencies as sparking worries about property crisis in China. USD INR should be under pressure due to the above factors. It may open around 82.86. The likely range for the day is 82.82 to 82.94.

Monday Blues 😳 oil price hike results to the prices of basic commodities, fares, and other necessities to go up. May we consider reinsvesting right now to help beat inflation and increase our purchasing power? Let me present our plans