Daily Oil Fundamentals

Focusing on $80

25 Sep 2024

Focusing on $80

Following last week’s rate cut by the Federal Reserve yesterday was the turn of the Chinese central bank to reassure markets that it is doing whatever it takes to revive its economy. In the broadest stimulus measure since the pandemic, it announced a reduction in borrowing costs on mortgages of up to $5.3 trillion, together with alleviating restrictions on second home purchases, lowering repurchase rates and banks’ reserve ratio requirements.

Daily Oil Fundamentals

More Airstrikes, More Rate Cuts, More Storms

24 Sep 2024

More Airstrikes, More Rate Cuts, More Storms

Our fears of Iran being drawn into the escalating conflict between Israel and Hezbollah was met with a reprimand from the president of the Persian Gulf OPEC producer who said on his visit to New York for the UN General Assembly gathering that Iran does not want a wider war in the region and called for dialogue to resolve the conflict.

Daily Oil Fundamentals

Growing Risk Appetite

23 Sep 2024

Growing Risk Appetite

A resilient and stubborn performance from risk assets on Friday wrapped up a buoyant week. The major price driver was undeniably the move by the Federal Reserve on Wednesday, and oil prices received additional support from Israel and Palestine, where a flare-up in tension most plausibly increased the risk premium. WTI moved $3.25/bbl higher on the week and is now $6.17/bbl above the September 10 bottom.