Daily Oil Fundamentals
Risk Premium, Driving Season & Tariff Inertia
10 Jul 2025Risk Premium, Driving Season & Tariff Inertia
The current state of the oil market resembles Samuel Beckett’s cult play Waiting for Godot. In the tragicomedy, the main character never arrives. In the oil market, the consensus, namely a supply surplus, is still expected to befall us in the coming months, albeit later than anticipated two months ago.