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.

Daily Oil Fundamentals

Reality Fails to Check in

22 May 2026

Reality Fails to Check in

Once again, oil and equities yo-yoed and danced to the tune of the narrative surrounding the Persian Gulf. And what a vibrant day it was. Wednesday’s sell-off in oil continued into the early hours of yesterday’s session after the US President confidently announced that negotiations with Iran were in their final stages. A sharp reversal was triggered after Reuters reported that the Iranian Supreme Leader had issued a directive stating that the country’s near-weapons-grade uranium must not be sent abroad, one of the key demands of the US. Then again, news of a draft agreement between the two countries produced yet another handbrake turn, sending oil $6/bbl lower within the space of three hours

Daily Oil Fundamentals

Words Move Prices More than Weapons

21 May 2026

Words Move Prices More than Weapons

Our market continues to dance to the tune of the US President. Whatever ‘off ramp’ is conjured in the mind of Donald Trump to end the war and Hormuz pinch, his words of appeasement that never quite stack up, once again prompt the idea within our fraternity that maybe this is the time.