Oil concerns itself with the state of US production this morning and enters the day less buoyant than that of late. The news that the US is now the world's largest producer is backed up by an increase of production to 13.3 million barrels per day...
It was not terribly long ago, therefore it is almost a conditional reflex to cast minds back to the first half of 2022, where we find it pertinent and fitting to draw a parallel between the market reaction of Russia’s incursion of Ukraine and the recent flare up of tension in the Middle East...
The Houthi drone attack on shipping in the Red Sea and the upward influence on oil prices reveals that there is always a bias bull-twitch within the oil trading community...
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