Daily Oil Fundamentals

The War Drones On

28 May 2026

The War Drones On

Well, that did not take long, did it? The language of negotiation now includes the added lexicon of limited military strikes representing the unacceptability to the terms of whatever current thread holds up the rocky road to peace. The trading of airstrikes, the second time this week, has the US military shooting down Iranian drones and hitting a drone-control station after Iran had allegedly fired attack UAVs at US and commercial shipping, voices from Washington said.

Daily Oil Fundamentals

Painfully Slow, but at least Progress

27 May 2026

Painfully Slow, but at least Progress

Banking money is more tempting than cutting losses. Destroying is much easier than creating. Starting a war is much simpler than ending it. The military adventure in the Persian Gulf is contemporary proof of this. Twists and turns are integral to the ongoing conflict and to the peace negotiations between the US, Israel, and Iran. Monday’s sharp drop in oil prices, triggered by President Trump’s Saturday announcement of an imminent negotiated deal, was partially reversed yesterday after the US reportedly conducted ‘defensive strikes’ on Iranian vessels and missile sites, prompting Iranian accusations that the US had violated the ceasefire agreement.

Daily Oil Fundamentals

In What Do We Trust?

26 May 2026

In What Do We Trust?

“It’s the hope that kills you.” The modern philosophy usual associated with sports is too tasty not to prepend what is going on in the Middle East, for it seemed as if the protagonists, or antagonists, involved in this pointless war had been limping toward some sort of workable workaround. If this appears further away this morning due to the attacks by the US on Iranian ships attempting to lay mines in the Strait of Hormuz, it probably is.