Daily Oil Fundamentals

Life Is Getting Less Expensive

11 Aug 2023

Life Is Getting Less Expensive

The current move up started in July. ICE Brent has rallied 15%, CME Heating Oil 29% and RBOB 18%. At the end of June US retail gasoline sold for $3.685/gallon. Fast forward 6 weeks and it is 7% more expensive.

Daily Oil Fundamentals

Products soar, gas prices are bullish company

10 Aug 2023

Products soar, gas prices are bullish company

The reference to the Superman comics when traders utter ‘its ripping its shirt off’ is used too much and becomes watered down, but at present it is fairly apposite for the products market.

Daily Oil Fundamentals

Warning signals ignored

09 Aug 2023

Warning signals ignored

A chart analyst would be quick to point to the 13-day m/a supports that did a marvelous job yesterday to halt the rot and tempt shorts to cover and bottom-pickers to pick bottoms.