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Hit to oil output from Ida overshadows demand impact, says Goldman

(Reuters) - Goldman Sachs (NYSE:GS) said Hurricane Ida had a larger impact on oil production than on refinery demand, causing a net "bullish" impact on U.S. and global storage...
Hit to oil output from Ida overshadows demand impact, says Goldman © Reuters. FILE PHOTO: U.S. President Joe Biden, aboard the Marine One helicopter, inspects the damage from Hurricane Ida on an aerial tour of communities in Laffite, Grand Isle, Port Fourchon and Lafourche Parish, Louisiana, U.S. September 3, 2021. REUTERS/Jonathan

(Reuters) - Goldman Sachs (NYSE:GS) said Hurricane Ida had a larger impact on oil production than on refinery demand, causing a net "bullish" impact on U.S. and global storage levels.

The investment bank, in a note dated Sept. 9, described the hit to U.S. output as "historically large" and expects almost 40 million barrels of crude production to be lost, with challenges restarting the Mars stream likely until mid-October.

U.S. refiners are coming back faster than oil production, a reverse of past storm recoveries with just three of the nine refineries completely idled, accounting for about 7% of Gulf Coast refining, compared to shut-ins of two-thirds of oil output on Friday.

The impact on refining has been broadly in line with prior hurricanes, the bank said, with about 1.5 million barrels per day still offline and the recovery likely to "follow the usual exponential pattern of the disruptions halving every 10 days."

Concerns over the output shut-in due to Ida, helped drive oil prices above $70 a barrel, with Brent crude trading at $73.39, and U.S. West Texas Intermediate (WTI) crude at $70.19 by 0829 GMT.

Goldman expects a peak demand impact only about 450,000 barrels per day from the hurricane, largely due to disruptions to downstream petrochemical plants in the Gulf of Mexico which account for a large share of petrochemical capacity.

"On net, we believe the storm will have left the U.S. short of around 30 million barrels of total oil, almost entirely in products due to the impact on refinery runs versus demand," it added.

"While there is pessimism on the oil demand recovery due to the storm, reducing COVID infections, particularly in the U.S., could offset the fall in the coming weeks, with both higher U.S. margins and a tightening WTI-Brent differential."

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28-09-2021 04:33:41 (UTC+7)

EUR/USD

1.1696

+0.0003 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.1696

+0.0003 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (3)

GBP/USD

1.3701

+0.0006 (+0.05%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (4)

USD/JPY

110.99

-0.01 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (2)

AUD/USD

0.7287

+0.0001 (+0.01%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (2)

USD/CAD

1.2628

+0.0001 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (3)

EUR/JPY

129.82

+0.04 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

EUR/CHF

1.0828

+0.0005 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

Gold Futures

1,749.85

-1.85 (-0.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Silver Futures

22.637

+0.212 (+0.95%)

Summary

Neutral

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (4)

Sell (1)

Copper Futures

4.2797

-0.0058 (-0.14%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

Crude Oil WTI Futures

75.41

+1.43 (+1.93%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Brent Oil Futures

78.61

0.00 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Natural Gas Futures

5.860

+0.660 (+12.69%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

US Coffee C Futures

194.98

+0.63 (+0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

Euro Stoxx 50

4,165.48

+6.97 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,443.11

-12.37 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

DAX

15,573.88

+42.13 (+0.27%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,063.40

+11.92 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Hang Seng

24,208.78

+16.62 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,281.79

+33.71 (+1.50%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

IBEX 35

9,002.90

+129.80 (+1.46%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (2)

BASF SE NA O.N.

64.740

+1.040 (+1.63%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

Bayer AG NA

47.47

+0.99 (+2.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

196.19

+3.85 (+2.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

Adidas AG

278.80

-2.77 (-0.98%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.561

+0.328 (+5.26%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (2)

Siemens AG Class N

147.27

-0.84 (-0.57%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

11.120

+0.285 (+2.63%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

    EUR/USD 1.1696 Neutral  
    GBP/USD 1.3701 Sell  
    USD/JPY 110.99 ↑ Buy  
    AUD/USD 0.7287 Neutral  
    USD/CAD 1.2628 ↑ Buy  
    EUR/JPY 129.82 Neutral  
    EUR/CHF 1.0828 ↑ Sell  
    Gold 1,749.85 ↑ Sell  
    Silver 22.637 Neutral  
    Copper 4.2797 Neutral  
    Crude Oil WTI 75.41 ↑ Sell  
    Brent Oil 78.61 ↑ Sell  
    Natural Gas 5.860 ↑ Buy  
    US Coffee C 194.98 ↑ Buy  
    Euro Stoxx 50 4,165.48 ↑ Sell  
    S&P 500 4,443.11 ↑ Sell  
    DAX 15,573.88 ↑ Sell  
    FTSE 100 7,063.40 ↑ Sell  
    Hang Seng 24,208.78 ↑ Buy  
    Small Cap 2000 2,281.79 ↑ Sell  
    IBEX 35 9,002.90 Buy  
    BASF 64.740 ↑ Sell  
    Bayer 47.47 ↑ Buy  
    Allianz 196.19 ↑ Buy  
    Adidas 278.80 ↑ Sell  
    Lufthansa 6.561 ↑ Buy  
    Siemens AG 147.27 ↑ Sell  
    Deutsche Bank AG 11.120 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(0/ 0) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 28-09-2021 04:33:43
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ↀ Giá vàng thế giới
$1,750.17 +0.67 0.04%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
DO 0,001S-V1693017260
Dầu hỏa1564015950
ↂ Giá dầu thô thế giới
WTI $75.41 +0.29 0.38%
Brent $79.40 +0.46 0.57%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR25.993,7727.346,60
GBP30.324,2231.591,18
JPY200,45212,05
KRW16,7520,39
Cập nhật lúc 18:54:42 27/09/2021
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