Daily Oil Fundamentals

Escalation is the Byword

12 Apr 2024

Escalation is the Byword

There is something other worldly about the current sentiment in the oil space. Diverging interest rate outlooks from either side of the pond, a continued deflationary scenario in China that is in itself ignored in front of Tuesdays barrage of trade data, a roaring US Dollar, an all-time high Gold price and inflation that must keep Jerome Powell awake at night, are simply ignored.

Daily Oil Fundamentals

Bearish Global Drivers Cannot Outweigh Middle East Fear

11 Apr 2024

Bearish Global Drivers Cannot Outweigh Middle East Fear

Such is the concern of conflict spread from Gaza/Israel that oil prices were not only able to ignore some quite negative news flows but rallied in the face of them. Even the most ardent Israel supporter must question the voracity of its ceasefire intentions after what must have been a targeted airstrike aimed at a Hamas leader that killed members of the family.

Daily Oil Fundamentals

Can This Current ‘Topping’ Action Continue?

10 Apr 2024

Can This Current ‘Topping’ Action Continue?

The oil market sits on tenterhooks here, caught in resounding influences that will only end up with those that take risk caught in an eddy of mixed signals.