Daily Oil Fundamentals

Israel Threatens to Retaliate after Iranian Missile Strikes

02 Oct 2024

Israel Threatens to Retaliate after Iranian Missile Strikes

OPEC+ will unlikely deviate from the current plan when ministers gather in the virtual space today, and it will start easing production restrictions to the extent of 180,000 bpd per month from December. Libyan crude oil should make an almost imminent re-appearance in the national market as an agreement to appoint the new head of the central bank was reached.

Daily Oil Fundamentals

Global Market Drivers Find More Sympathy in Bourses than in Oil

01 Oct 2024

Global Market Drivers Find More Sympathy in Bourses than in Oil

Described eloquently elsewhere as 'window dressing', the US bourses again registered new highs as longs were determined to register a very positive end to a successful stock market quarter. This is despite a return to conservative ways by the language deployed by Jerome Powell yesterday. In a speech to the National Association for Business Economics, the Federal Reserve Chair remarked on impending rate decisions that “the risks are two-sided, and we will continue to make our decisions meeting by meeting.”

Daily Oil Fundamentals

Solid Global Economic Outlook, Ominous Geopolitics

30 Sep 2024

Solid Global Economic Outlook, Ominous Geopolitics

Whilst fully acknowledging the headwinds that prevent oil from crawling convincingly higher, last week can be characterized as powerfully bullish. To begin with, the escalation of the conflicts between Israel and Palestine has reached new heights.