Having been almost satirised after his debut press conference following July’s FOMC decision to keep rates on hold, every nook and cranny of economic writing was waiting for a goodly dollop of clarity when Fed Chair, Kevin Warsh, addressed the Jackson Hole Symposium last week.
It has been a nine-day — correction, three-day — wonder. The latest fall in prices came to an abrupt halt yesterday, and oil moved north. Of course, betting on continuously higher prices would be foolish, but equally, expecting a prolonged drop below $80 is not a foregone conclusion either.
The reverse correlation between oil prices and stocks/bonds was given yet another kicker overnight with the posting of Nvidia results. The CEO of the tech darling, Jensen Huang, was cock-a-hoop claiming the AI industry had reached a “golden age”, as the chipmaker posted revenue of $96.2 billion for the second quarter, far outstripping the $92 billion Wall Street expectation.
Parameta Solutions, the data and analytics arm of TP ICAP, delivers global energy and commodities market data sourced directly from PVM. This empowers traders, analysts, and risk managers to optimise hedging strategies, price contracts and reduce risk exposure.
Discover more about accessing their energy, commodities, and real-time oil data.
Copyright © 2026 TP ICAP