Daily Oil Fundamentals

‘Liberation Day’ Dominates All

28 Mar 2025

‘Liberation Day’ Dominates All

Yesterday’s price action in oil was a stifled affair albeit with a bullish bias. The April 2 implementation of tariffs against Venezuelan oil supply and the further future squeezing of the Iranian oil sector keeps a rally that is now three-weeks old. It remains uncertain as to how tariffs on Canadian and Mexico will play out in the longer-term, but the increased US refinery runs which resulted in draws in inventory complete the current positive picture.

Daily Oil Fundamentals

Trade War Escalates

27 Mar 2025

Trade War Escalates

The buoyant move up in stock prices over the last two weeks was based on the perception of lenient US trade measures. These perceptions produced a sharp U-turn yesterday as President Trump announced the imposition of 25% tariffs on foreign-made cars and car parts effective April 2. The panicky sentiment in the US stock markets from observed last night spills over to global equities this morning.

Daily Oil Fundamentals

Just Way Too Early to Call War’s End

26 Mar 2025

Just Way Too Early to Call War’s End

The US brokered accord between Russia and Ukraine agreeing to a ceasefire on each other’s energy complexes and a truce to hostilities in the Black Sea might be viewed as progress from Washington but with language already being manipulated (by Russia in the main) hours after the announcement, one can only cast doubt on whether this is a turning point.