United States, Head Of Fixed Income, Saudi Arabia discussed on BTV Simulcast


Can actually do it. Menace that was the Omani oil minister room. He's speaking to me yesterday. He calls it the Washington premium. Donald Trump's tweets, he says moving the price of oil more. So than OPEC does. What's interesting here is that Ed Moore says by the skin of their teeth. Russia the US and Saudi Arabia may have enough capacity to boost about supplies to blunt a spike above eighty dollars a barrel. Whether or not we'll get a signal that today remains to be seen. What more updates on the ground throughout the day from Algiers? Unreal. Pick it up from your excellent reporting as always enemy horde and holding the front in Algiers. Let's get more without berto lean. He's the head of fixed income for exotics scapula joins us around the sent a Berta. The United States is catching up with the rest of the world in terms of oil production, and we've put this up on GT our clients can easily access this catching up with Saudi Arabia and Russia specifically in sort of the ten million barrel a day club this meeting where Iran is not going to be present really raises the stakes in terms of what could happen in a potential OPEC non-opec. How are you looking at this? What does it mean for oil prices while I think that doesn't come as a surprise that the Saudi will love to have prices above eighty dollars a barrel one hundred dollars because as we know they will achieve balance surplus. We always above eighty dollars. And so far this year. The average Brent prices are around seventy one dollars. So this doesn't come as a surprise. And there are also other indicators points towards. A more bullish seventeen. Roy's if you look at this morning, and you oil producers, which usually edge that position selling forward contracts trying to look in the prize that actually reducing that that edgy position. That means that the the forcus for ROY price in the near future. And certainly a very good morning to you better Madison sending the market is positioning itself. They've actually raised their net long positions for the fourth straight week. Do you think the market is hunkering down for world of seventy five dollars and more? Well, I think if we look at the correlation between meals. The US treasury yields and if we look at the correlation between oil prices, and and the the inflationary part of the years, which is the US treasury break-even wishy that to me me almost entirely and completely the US the US prices. So therefore we've seen the US treasury hanging over three three percent. And and the and the oil prices following the for. Yes, I think the war is is a is preparing for these easter's Berta. We have a lot to get through Burtel bigger, lean head of fixed income for exotics capital stays with us. Let's get you.

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