Daily Oil Fundamentals

Jerome Powell Makes his Case

27 Aug 2024

Jerome Powell Makes his Case

Justified worries about the health of the Chinese economy were succeeded by the sanguine view on how the US will perform in the coming month. The reassurance was provided by the chair of the Federal Reserve, Jay Powell, who used the annual central bankers’ symposium in Jackson Hole, Wyoming as a platform to describe the state of the US economy before providing his strongest hint yet at the impending lowering of the cost of borrowing.

Daily Oil Fundamentals

Cometh the Moment, Cometh the Man

23 Aug 2024

Cometh the Moment, Cometh the Man

Well, here we are. The man of the hour, Jerome Powell, Federal Reserve Bank Chair, will climb the dais of monetary power later today at the Jackson Hole Symposium with the weight of the world's economic fortune on his shoulders. There probably has not been a more anticipated speech in the recent annals of central banking.

Daily Oil Fundamentals

Solid EIA Report Brutally Countered by US Job Growth Revision

22 Aug 2024

Solid EIA Report Brutally Countered by US Job Growth Revision

On Tuesday night the API laid down the foundation of a move higher and the EIA built on it. The latest set of US oil inventory data can be a viewed as a vote of confidence in the resilience of the US economy – there were drawdowns all around with products supplied by refiners, the proxy for demand, also encouraging.