Daily Oil Fundamentals

Slowing US Inflation, Pragmatic Fed

13 Jun 2024

Slowing US Inflation, Pragmatic Fed

After all, it is possible to put a price on 0.1%. This is by how much the May US core inflation reading exceeded expectations. Consumer prices, without food and energy, rose by 3.4% last month, better than the anticipated 3.5%. Oil jumped nearly a dollar, admittedly helped by the morning’s monthly IEA report.

Daily Oil Fundamentals

Yet Another J-Day

12 Jun 2024

Yet Another J-Day

In today’s data driven environment every day feels like a judgement day. Two of the three monthly findings on oil balance, as discussed in the main topic of this note, warranted a decent rally but the market was understandably cautious and pragmatic ahead of today’s Chinese and US inflation reports.

Daily Oil Fundamentals

A Good Recovery, But Let’s Not Get Excited

11 Jun 2024

A Good Recovery, But Let’s Not Get Excited

After oil prices experienced a bearish confluence of events, shook out much length and toyed with being oversold, there is almost an inevitability in the rally back to current levels.