Daily Oil Fundamentals
Solid US Data + Elevated Middle East Risk = Oil Price Rally
18 Jul 2025Solid US Data + Elevated Middle East Risk = Oil Price Rally
The red flag raised on Wednesday, the sticky US inflation that is as the tariff impact started to be felt, was long forgotten by yesterday. Investors’ focus shifted towards the latest set of economic data, and it was, by any standard, sanguine. Consumers were more than willing to spend, as mirrored in last month’s retail sales figures, which, to a certain extent, should not come as a surprise since the labour market appears solid.