Fear Of An Iran War Sends Oil Prices Up – Oil Price Report

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It was the wildest week for oil in recent memory. Prices spiked, fell back again, and then rose more modestly on Thursday and Friday. There are still question marks over Saudi Arabia’s ability to repair Abqaiq on as quick a schedule as it claims and Washington and Riyadh are considering their next steps following the attack, with more military action certainly a possibility. 
 
Oil disruptions negative for gas. If oil prices move higher because of the outage in Saudi Arabia it could spark a higher rate of drilling in U.S. shale, but the likely increase in associated natural gas output is viewed as bearish for gas, according to analysts. “Appalachia producers in particular need to show restraint in order to keep the market balanced into 2020,” Goldman Sachs said in a research note. Natural gas prices have bounced off of their lows from a few months ago, but many see prices taking another downturn. A new pipeline from the Permian could capture a lot more gas that is being flared right now. Moody’s cut its medium-term gas price forecast, and downgraded Range Resources (NYSE: RRC)Antero Resources (NYSE: AR)Gulfport Energy (NASDAQ: GPOR)and cut EQT’s (NYSE: EQT) outlook to negative. 
 
Citi: Sell oil to finance shorts inequities. Citi said that a supply shock in the oil market, which could push up oil prices, could be occurring at the same time that equities tumble from their highs. The bank said that traders should sell their oil positions to finance bearish bets on equities. “Heightened geopolitics can be simultaneously negative for equity prices through the growth channel and positive for oil prices through supply shocks,” Citi analysts wrote. “Buy S&P 500 puts financed by oil puts.”
 
Parent-child interference could mean 15 to 20 percent lost output. Spacing shale wells too close together could result in 15 to 20 percent less production than forecasted, according to a new report from Tudor, Pickering, Holt & Co. The parent and child wells interfere which one another. But one solution might be to frack all the wells at the same time to avoid lost reservoir pressure. 
 
Aramco inventories cover the gap…for now. Saudi Aramco had roughly 50 million barrels of oil in storage before the Abqaiq attack, enough to fill in for disrupted production until the end of the month, when repairs are expected to be completed. However, if the repairs take longer than expected, it would be much harder to cover the gap. “They probably have about one month of inventories,” said Amrita Sen, chief oil analyst at consultants Energy Aspects Ltd.
 
Abqaiq disruption to be felt later. The loss of barrels from Aramco will take time to work its way through the system. “A lot of October arrival barrels were already on the water so the hole is going to show up toward late October,” one senior European oil trader told Reuters. “There has been a mad scramble on the paper markets but the physical scramble will come later.”
 
Saudi Arabia pressuring wealthy Saudis to buy Aramco IPO. The Saudi government is pressuring wealthy Saudi families to buy into the forthcoming IPO of Aramco. Sources told the FT that the wealthy were being “bullied” and “strong-armed.”
 
Millions rally around the world for the climate. Friday marked the global climate strike, with millions of people rallying in dozens of cities around the globe, calling for an end to fossil fuels. 
 
GM bets on electric. GM (NYSE: GM) is betting heavily on electric vehicles, and the company has slashed payroll and shut factories, leading to labour pressure and the current worker strike. Meanwhile, analysts wonder whether GM is steaming ahead too quickly with EVs and autonomous vehicles, according to a profile of CEO Mary Barra in Bloomberg
 
Big corporate renewable deals. Google announced 1.6 GW of new renewable power deals, which it calls the “biggest corporate purchaser of renewable energy in history. Meanwhile, Amazon (NASDAQ: AMZN) announced that it would become 100 percent renewable by 2030 and it also ordered 100,000 electric delivery trucks from Michigan-based Rivian (in which Amazon is an investor). Meanwhile, the EIA forecasts that wind installations will surge this year and next, likely breaking records in 2020. 
 
ExxonMobil shuts Beaumont refinery. Catastrophic flooding in Houston from Tropical Depression Imelda forced ExxonMobil (NYSE: XOM) to shut its Beaumont refinery. Some called the flooding as bad as Hurricane Harve
 
Dominion approves offshore wind. Dominion Energy (NYSE: D) announced plans to build a $7.8 billion, 2.6-gigawatt offshore wind project off the coast of Virginia. 
 
IEA: after pause, global renewables accelerate. “After stalling last year, global capacity additions of renewable power are set to bounce back with double-digit growth in 2019, driven by solar PV’s strong performance,” according to new data from the International Energy Agency. Global renewables are set to grow by 12 percent this year, adding almost 200 GW of capacity, the fastest pace since 2015. The agency says that the world needs to add renewables at an annual pace of 300 GW through 2030 to meet climate goals. 
 
Nigeria’s Bonny Light on force majeure. Nigeria’s Bonny Light has been under force majeure since last Friday due to the closure of the Nembe Creek Trunk Line. 
 
Venezuela’s production cut as inventories swell. Venezuela’s oil inventories have climbed to more than 38 million barrels as it struggles to find buyers. Swelling inventories now mean that production needs to be cut, according to Reuters. “Storage is almost at top capacity. We are just days ahead of being forced to shut production at some eastern oilfields,” a PDVSA executive told Reuters.

 

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Fear Of An Iran War Sends Oil Prices Up - Oil Price Report - Brand Spur

Emerging Stronger with Adaptable HR: Alight Solutions’ State of HR Transformation...

SINGAPORE - Media OutReach - 12 May 2021 - After releasing three insightful editions, we are delighted to bring to you the fourth edition of the Alight Solutions' State of HR Transformation Study in partnership with People Matters.


Fear Of An Iran War Sends Oil Prices Up - Oil Price Report - Brand Spur


The study, which was launched during the People Matters TechHR SEA, is themed around Emerging Stronger and sheds light on how some organisations are ahead of the curve in emerging stronger. A key finding was the positive sentiment that organisations in Asia have for the coming 12 months. Amongst them, adaptable organisations have reported that they are 1.5 times more likely to see positive growth in revenues and profits. The HR function has certainly proved its mettle in this case and shown how well it can manage disruption and guide organisations to emerge stronger.

Last year, Alight brought forward the construct of Adaptable HR as a guide to navigating the increasingly uncertain business and talent landscape in the midst of the biggest crisis faced. Exploring the anchors of adaptability in HR functions, Alight has consistently observed that HR Operating Model (interchangeably referred to as HR Service Delivery or Business Model) plays an important role in driving confidence on execution and productivity. When complemented with the right HR technology strategy, the results are amplified further.

Talking about this year's study, Vikrant Khanna (Sr. Director and Advisory Lead at Alight Solutions), exclaimed, "We are delighted to see how Adaptable HR function led organisations are recovering from the impact of the pandemic. While there is still quite a bit of uncertainty in the environment, the construct of Adaptable HR acts as a lighthouse for organisations to emerge stronger."

This year, as we continue to face new challenges and uncertainties posed by the pandemic, Alight found that organisations with Adaptable HR are emerging stronger to:


Fear Of An Iran War Sends Oil Prices Up - Oil Price Report - Brand Spur


Lead in being digital: Adaptable HR report twenty times the NPS on technology satisfaction as compared to market averages. This is due to the digital success enabled by leveraging HR Technology to complement the HR Operating Model. In addition, 50% of Adaptable HR have advanced along their adoption journey of robotics and cognitive technologies to drive efficiencies and improved experience for employees.

Enable shifts in the way we work: Adaptable HR functions are three times more likely to be proactive in driving institutional change, new ways of working, and adoption of work technologies. In fact, Adaptable HR functions report the use of up to 5 forms of work technologies. Factors that enabled quick adoption include investment priorities and the right efforts in helping adoption through investments in manager/ leader enablement.

Read Also:  Lagos State Reviews Land Use Charge to pre-2018 Rates

Reimagine HR: Adaptable HR functions are three times more likely to succeed in delivering closer partnership with the business through their operating model and capabilities. The specific capabilities demanded in Adaptable HR functions are what sets them apart and enables the organisation to be agile by design.

Shape and deliver value: Adaptable HR functions are almost three times more confident in their HR strategy and execution. This foundation and investment priorities enables them to be better equipped to address complexities and more proactive in responding to changes.

Fear Of An Iran War Sends Oil Prices Up - Oil Price Report - Brand Spur


The world of work too has undergone drastic transformation in these times. Adaptable HR functions have proven that HR is truly at the forefront of shaping and delivering value to stakeholders, enabling us to adopt new ways of working, and enable digital success. Throughout this report, observations were shared in terms of how Adaptable HR organisations have paved ways for new co-creations and solutions for people and organisations to emerge stronger.

It is an accumulation of all individual behaviour changes and the larger organisation change which leads to business success. It is no surprise that organisations with Adaptable HR functions are 1.5 times more likely to have favourable growth in revenues and profit before tax in the coming 12 months.

Shaswat Kumar (Vice President and Asia Leader, Alight Solutions) shares, "This year's findings demonstrate that Adaptable HR function led organisations are likely to succeed in their change agenda. This will enable organisations, not only to compete better, but also to deliver the right value to its constituents and shareholders."

Certainly, the future belongs to organisations that are able to continue their journey of Adaptable HR, lead transformation and emerge stronger!

The State of HR Transformation 2021, is the fourth edition of the Alight Solutions' flagship study on this subject. The study data was captured between Jan 2021 and Apr 2021 through an online survey. The insights combine data captured via a survey that saw participation from over 1,700 respondents (which were filtered down to 1,022 based on completeness and accuracy of responses), and observations of Alight Solutions in the space of HR Transformation.


About Alight Solutions

With an unwavering belief that a company's success starts with its people, Alight Solutions is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimises business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organisations to achieve a high-performance culture. Alight's 15,000 dedicated colleagues serve more than 30 million employees and family members.


We deliver next level transformation at alight.com


Click here to download the exclusive report now. Let's emerge stronger together!

Fear Of An Iran War Sends Oil Prices Up - Oil Price Report - Brand Spur
- Advertisement -
spot_imgspot_img

Latest News

Emerging Stronger with Adaptable HR: Alight Solutions’ State of HR Transformation Study 2021

SINGAPORE - Media OutReach - 12 May 2021 - After releasing three insightful editions, we are delighted to bring to you the fourth edition of the Alight Solutions' State of HR Transformation Study in partnership with People Matters.


Fear Of An Iran War Sends Oil Prices Up - Oil Price Report - Brand Spur


The study, which was launched during the People Matters TechHR SEA, is themed around Emerging Stronger and sheds light on how some organisations are ahead of the curve in emerging stronger. A key finding was the positive sentiment that organisations in Asia have for the coming 12 months. Amongst them, adaptable organisations have reported that they are 1.5 times more likely to see positive growth in revenues and profits. The HR function has certainly proved its mettle in this case and shown how well it can manage disruption and guide organisations to emerge stronger.

Last year, Alight brought forward the construct of Adaptable HR as a guide to navigating the increasingly uncertain business and talent landscape in the midst of the biggest crisis faced. Exploring the anchors of adaptability in HR functions, Alight has consistently observed that HR Operating Model (interchangeably referred to as HR Service Delivery or Business Model) plays an important role in driving confidence on execution and productivity. When complemented with the right HR technology strategy, the results are amplified further.

Talking about this year's study, Vikrant Khanna (Sr. Director and Advisory Lead at Alight Solutions), exclaimed, "We are delighted to see how Adaptable HR function led organisations are recovering from the impact of the pandemic. While there is still quite a bit of uncertainty in the environment, the construct of Adaptable HR acts as a lighthouse for organisations to emerge stronger."

This year, as we continue to face new challenges and uncertainties posed by the pandemic, Alight found that organisations with Adaptable HR are emerging stronger to:


Fear Of An Iran War Sends Oil Prices Up - Oil Price Report - Brand Spur


Lead in being digital: Adaptable HR report twenty times the NPS on technology satisfaction as compared to market averages. This is due to the digital success enabled by leveraging HR Technology to complement the HR Operating Model. In addition, 50% of Adaptable HR have advanced along their adoption journey of robotics and cognitive technologies to drive efficiencies and improved experience for employees.

Enable shifts in the way we work: Adaptable HR functions are three times more likely to be proactive in driving institutional change, new ways of working, and adoption of work technologies. In fact, Adaptable HR functions report the use of up to 5 forms of work technologies. Factors that enabled quick adoption include investment priorities and the right efforts in helping adoption through investments in manager/ leader enablement.

Reimagine HR: Adaptable HR functions are three times more likely to succeed in delivering closer partnership with the business through their operating model and capabilities. The specific capabilities demanded in Adaptable HR functions are what sets them apart and enables the organisation to be agile by design.

Shape and deliver value: Adaptable HR functions are almost three times more confident in their HR strategy and execution. This foundation and investment priorities enables them to be better equipped to address complexities and more proactive in responding to changes.

Fear Of An Iran War Sends Oil Prices Up - Oil Price Report - Brand Spur


The world of work too has undergone drastic transformation in these times. Adaptable HR functions have proven that HR is truly at the forefront of shaping and delivering value to stakeholders, enabling us to adopt new ways of working, and enable digital success. Throughout this report, observations were shared in terms of how Adaptable HR organisations have paved ways for new co-creations and solutions for people and organisations to emerge stronger.

It is an accumulation of all individual behaviour changes and the larger organisation change which leads to business success. It is no surprise that organisations with Adaptable HR functions are 1.5 times more likely to have favourable growth in revenues and profit before tax in the coming 12 months.

Shaswat Kumar (Vice President and Asia Leader, Alight Solutions) shares, "This year's findings demonstrate that Adaptable HR function led organisations are likely to succeed in their change agenda. This will enable organisations, not only to compete better, but also to deliver the right value to its constituents and shareholders."

Certainly, the future belongs to organisations that are able to continue their journey of Adaptable HR, lead transformation and emerge stronger!

The State of HR Transformation 2021, is the fourth edition of the Alight Solutions' flagship study on this subject. The study data was captured between Jan 2021 and Apr 2021 through an online survey. The insights combine data captured via a survey that saw participation from over 1,700 respondents (which were filtered down to 1,022 based on completeness and accuracy of responses), and observations of Alight Solutions in the space of HR Transformation.


About Alight Solutions

With an unwavering belief that a company's success starts with its people, Alight Solutions is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimises business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organisations to achieve a high-performance culture. Alight's 15,000 dedicated colleagues serve more than 30 million employees and family members.


We deliver next level transformation at alight.com


Click here to download the exclusive report now. Let's emerge stronger together!

Fear Of An Iran War Sends Oil Prices Up - Oil Price Report - Brand Spur
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