Daily Oil Fundamentals

Supply Under Scrutiny

06 May 2025

Supply Under Scrutiny

After the calamitous US tariff announcement on April 2, all hell broke loose in financial markets. The MSCI All-Country Equity Index dropped 14% in less than a week. US stock indices matched the global performance. Frighteningly, the dollar was sold off and so were US bonds, deemed the safest of investment destinations. The US 10-year bond yield rallied to 4.6% whilst an unprecedented stampede into gold pushed its price briefly above $3,500/ounce.

Daily Oil Fundamentals

What News from Camelot?

02 May 2025

What News from Camelot?

It is rather ironic how this week saw President Trump’s first 100 days in office coinciding with the 50-year anniversary of the satirical film ‘Monty Python and the Holy Grail’. One is a spoof on the Arthurian legend where a nonsensical Camelot populated by bungling Knights of the Round Table who sally forth with a mix of ineffectual or damaging edicts, ridiculous choices in battle and contempt for its peasants, and the other, please choose which, is the American government.

Daily Oil Fundamentals

They are not Good, and not Easy to Win

01 May 2025

They are not Good, and not Easy to Win

One of the posts from the incumbent US President on social media from seven years ago read as follows: ‘Trade wars are good and easy to win’. Whether they are good depends on one’s taste but the first 100 days of his second Presidency showed that whilst erecting trade barriers is a simple exercise, winning trade wars, ie. narrowing trade deficit and bringing manufacturing home, is an arduous if not impossible task.