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An abundance of uncertainty continues to grip the global oil market due to risks posed by the upcoming US election, the possibility of a second wave of COVID-19 outbreaks, and other potential developments. These risks are making it difficult for companies to plan ahead at a time when doing so has never been more important.

To help companies overcome this challenge, StoneX Financial Ltd (formerly INTL FCStone Ltd) held a 45-minute virtual event on 28 October, that looked to help attendees gain a better understanding of market scenarios and risks that may materialize in the medium term. Specifically, the program:

  • Explored the global supply/demand dynamics, while also analyzing the pace at which inventories will fall and rise in the global oil refining market
  • On a sectoral view, assessed the speed of the recovery in manufacturing, aviation and road transportation with the use of high frequency data. 
  • Assessed the external macro and geopolitical risks that may infiltrate the energy markets in the months to come.

Kevin Solomon
Energy Analyst, Market Analysis EMEA & Asia
StoneX Financial Ltd.

Contact Us: 
Lucy Gardner
Vice President - Marketing, EMEA & Asia
Lucy.Gardner@StoneX.com

Q4 2020 Crude and 

Refined Products Outlook

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STONEX is the trade name used by STONEX GROUP INC. and all its associated entities and subsidiaries. StoneX Group Inc. companies provide financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to certain over-the-counter (“OTC”) products or swaps are made on behalf of INTL FCStone Markets, LLC (“IFM”), a member of the National Futures Association (NFA) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. IFM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of IFM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Advisor. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI. Wealth Management is offered through SA Stone Wealth Management Inc., member FINRA/SIPC, and SA Stone Investment Advisors Inc., an SEC-registered investment advisor, both wholly owned subsidiaries of INTL FCStone Inc. StoneX Financial Ltd. (“SFL”) is registered in England and Wales, company no. 5616586. SFL is authorised and regulated by the Financial Conduct Authority (registration number FRN:446717) to provide to professional and eligible customers including: arrangement, execution and, where required, clearing derivative transactions in exchange traded futures and options. SFL is also authorised to engage in the arrangement and execution of transactions in certain OTC products, certain securities trading, precious metals trading and payment services to eligible customers. SFL is authorised & regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment services. SFL is a category 1 ring-dealing member of the London Metal Exchange. In addition SFL also engages in other physically delivered commodities business and other general business activities which are unregulated and not required to be authorised by the Financial Conduct Authority. StoneX Financial Europe S.A. (“SFE”) is a securities trading firm registered in the Grand Duchy of Luxembourg, company no. RC Lux B 10821. SFE is authorised and regulated by the Commission de Surveillance du Secteur Financier (registration no. P00000012) to carry out, inter alia, the activities of an investment adviser, broker in financial instruments, commission agent and private portfolio manager. INTL FCStone Pte Ltd (Co. Reg. No 201130598R) (“IFPL”) holds a Capital Markets Services Licence and is regulated by Monetary Authority of Singapore (“MAS”) for dealing in Exchange-Traded Derivatives Contracts, OTC Derivatives Contracts and Spot Foreign Exchange Contracts for Leveraged Foreign Exchange Trading. SToneX Financial (HK) Limited (CE No.: BCQ152) (“SFHK”) is regulated by the Hong Kong Securities and Futures Commission for Dealing in Futures Contracts. StoneX Group Inc. acts as agent for SFL in New York with respect to its payments services business. StoneX APAC Pte Ltd. acts as agent for SFL in Singapore with respect to its payments services business.
Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors.

The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX Group Inc. of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you.

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