Daily Oil Fundamentals

The Impossible Task of Squaring the Circle

25 Mar 2025

The Impossible Task of Squaring the Circle

Ignoring the laws of economics comes with a substantial price tag. Tariffs are ultimately paid by the consumer as so neatly illustrated by the latest stock market slump. So, now that the next clockwork-like policy reversal arrived, this time in the form of a ‘targeted approach’ when applying reciprocal tariffs from April 2, of course, equities rallied. The brighter investor’s mood was also aided by the rise of composite PMIs on both sides of the Atlantic.

Daily Oil Fundamentals

Ample Supply with Caveats

24 Mar 2025

Ample Supply with Caveats

In Friday’s note, we concluded that the demand side of the oil equation is rather straightforward. The rudimentary view foresees further possible demand destruction due to the seemingly perennial trade wars across the globe, but investors will only adjust their default pessimistic view if deteriorating data warrants it. The supply side has considerably more tentacles.

Daily Oil Fundamentals

Have a Stress-Free Weekend. Seriously.

21 Mar 2025

Have a Stress-Free Weekend. Seriously.

It is Friday. You are fully aware that the Bank of Japan held rates steady earlier in the week as trade wars loom large. The Fed also stayed put acknowledging the absence of a conducive economic environment. The Swiss National Bank introduced a cut yesterday, but the Swedish Riksbank and the Bank of England decided to wait.