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.

Daily Oil Fundamentals

Contemplation and Drift

02 Jul 2026

Contemplation and Drift

Oil prices are continuing to hang around on the street corner of trading with little to inspire them other than watch the latest act in the tragedy of the US/Iran war. The latest talks in Doha are drawing to a close with a Qatari Foreign Ministry spokesperson saying “positive progress” was made on issues relating to the MoU. Yet Iranian Deputy Foreign Minister admitted that no direct talks took place, and while US Vice President Vance mouthed on negotiations going well, his comments were still laden with threats as to what might happen if a path to peace was not found.

Insights

Daily Oil Fundamentals