Daily Oil Fundamentals

China Shapes the Mood, Israel’s Pragmatism Accelerates it

15 Oct 2024

China Shapes the Mood, Israel’s Pragmatism Accelerates it

Yet again China comes to the aid of bears and embarks on a three-pronged attack on the high oil prices registered due to Middle East war premium. Not just happy with an inconclusive Ministry of Commerce Saturday announcement of, well, not very much in terms of stimulus, the Southeast Asia giant posted yet another bout of inflation data the keeps it firmly rooted in deflationary territory. The final part of the triumvirate of disappointment came via a third-party source.

Daily Oil Fundamentals

The Devil and the Deep Blue Sea

14 Oct 2024

The Devil and the Deep Blue Sea

We shall dive deep into the latest reports from the CFTC and ICE on how traders are committed to oil on Wednesday. For now, it is imperative to point out the obvious. The Israel-Iran acrimony has spurred financial investors to migrate back to the European crude oil benchmark.

Daily Oil Fundamentals

The Weekend Awaits

11 Oct 2024

The Weekend Awaits

Oil prices have once again become defensively bid as another weekend approaches. Those that have taken to the buyside of the market can hardly be blamed for not wanting to come in Monday morning with an unspeakable incident having occurred without any sort of upside cover. Reluctant or not, net-long positioning has once again inflated and using MifID data, Bloomberg report the sharpest increase since 2018 from funds and their like.