Daily Oil Fundamentals

Persistence Optimism in Equities, Souring Mood in Oil

06 Oct 2025

Persistence Optimism in Equities, Souring Mood in Oil

Although stocks retreated and oil edged higher on Friday, the story of the week was the mirror image of these performances. A weak private US job market report, in the absence of official data, reaffirmed expectations that two more interest rate cuts are forthcoming this year. The astronomical tech valuations clearly bear all the hallmarks of FOMO and herd mentality. We do not doubt that this rally is unsustainable and that a nasty correction is in order once deteriorating economic data warrant it, as tariffs begin to bite.

Daily Oil Fundamentals

Growing Supply Concerns

03 Oct 2025

Growing Supply Concerns

It is almost an axiomatic fact that when oil and equities diverge, the former is usually driven by supply considerations. This discrepancy was blatantly obvious yesterday. Equities gained further ground, scaling highs not seen before, seemingly unbothered by the dysfunction of the US government

Daily Oil Fundamentals

Enduring Turbulence

02 Oct 2025

Enduring Turbulence

During the first Trump Administration, some were smirking, some were irritated, and for others, the 2020 election could not come soon enough. The common denominator, however, was that once the then-President was voted out of the White House, the 2016–2020 period would be relegated to the margins of history books.