Daily Oil Fundamentals

Masterful Oil Supply Diversions, but What Now of OPEC?

07 Jul 2026

Masterful Oil Supply Diversions, but What Now of OPEC?

There was a particularly convincing and well written investigative piece in Petroleum Intelligence Weekly last week. It is something we not only admire but wished we had authored. Entitled ‘How Oil Markets Took Hormuz Crisis in Stride’, it picks apart the assumption most of our fraternity, including us, expected that closing the most important sea passage for oil communication would result in oil prices making record highs.

Daily Oil Fundamentals

Oil Availability Continues to Increase

06 Jul 2026

Oil Availability Continues to Increase

The script did not change last week. Equities remained resilient, but oil investors were wary. Although the AI sector wobbled occasionally, the South Korean equity index staged a robust rebound on Friday. The eagerly awaited US jobs report showed an increase of just 57,000 jobs in June, well below expectations. When disappointing labour market data are coupled with lower inflation expectations driven by cheaper energy, monetary luminaries will think twice or even thrice before contemplating an increase in the cost of borrowing.

Daily Oil Fundamentals

Trading Places

03 Jul 2026

Trading Places

Every price move eventually comes to an end, and the current downtrend will reverse as well. Yet it would be foolish to believe that yesterday's welcome rebound in crude oil contracts from the day's lows marked the beginning of such a U-turn.

Although Russia is unable to contribute meaningfully to global supply, as it is itself forced to import refined products from India to ensure adequate domestic availability, developments related to the Strait of Hormuz, summarised below, continue to signal increasing crude oil availability from the Middle East.

Insights

Daily Oil Fundamentals