24th Jul '11


Real Name: Daniel Lacalle

Occupation: Fund Manager

Interests: Oil, Stocks

About Me:

Fund manager in Oil,Gas and utilities. I was voted Number 1 Pan-European Buyside Individual in Oil & Gas in Thomson Reuters' Extel Survey 2011, the leading survey among companies and financial institutions. More than 21 years of experience in the oil, gas and utilities fields from corporate to investment banking, research and fund management. 


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Dlacalle's Latest Blogs

It was a strong week in the oil market as Brent pushed through the $115/bbl to reach the highest level since April last year. Positive macro-economic data, coupled with the increased geopolitical risk premium provided a positive backdrop for the strong gains. In terms of fundamentals, OPEC production continued to slide in January, reportedly reaching the lowest level in 15 months. It is important to…

Is CO2 dead? This is something I have been warning for a few years now. The evidence is overwhelming. Flawed concept, massive oversupply of permits and politicians optimistic predictions. Great combination. I wrote two previous posts here: "Why CO2 collapsed 20% in two days" and "Is CO2 dead? Why Durban will do nothing for it". Now UBS has published a quick update on CO2 this…

Outperformance of WTI vs. Brent continued this week as the spread between the two benchmarks narrowed further to $15.5/bbl.The WTI benchmark is receiving support from the start-up of the expanded Seaway pipeline, with the market factoring in this recent expansion in takeaway capacity (150 thousand b/d to 400 thousand b/d) as a precursor for a reduction of surplus crude oil inventories at Cushing over the…

2012 was a very tough year for global oil & gas, as the group underperformed the MSCI World by 10%. FTSE Oil & Gas was down 12% and SXEP down 4%. Starting with the disastrous performance of the US onshore-levered oil-field services stocks (the group was down 15% from the March peaks), sharp-sell off in US natural gas prices (-36% to the lows of $1.8/mcf…

This article was published in Spanish in Trader Secrets in January 2013 Let's talk about the best short positions to finance your longs and reduce the volatility of your preferred long term bullish investments. In a market where investment recommendations are predominantly positive, where stock market corrections are considered anomalies and upward moves are deemed "fundamental", where the mantra of  "do not fight the central…

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