Daily Oil Fundamentals

Killing Them Softly with His Words

04 Dec 2025

Killing Them Softly with His Words

The next Fed rate decision is less than a week away, and the latest salient data, the ADP jobs report, was published yesterday. It showed that the US private sector cut 32,000 jobs, led by companies with fewer than 50 employees, which shed 120,000 positions. As one of the Fed’s mandates is full employment, the report may have been the final piece of the puzzle falling into place, and the emerging picture now suggests a clear lowering of borrowing costs next Wednesday.

Daily Oil Fundamentals

More Talks to Come, More Oil on the Market

03 Dec 2025

More Talks to Come, More Oil on the Market

As hindsight as it may sound, there was always little chance of a breakthrough in the Ukraine peace initiative undertaken by US representatives in Moscow. After five hours a Kremlin spokesman briefed reporters saying the talks were “very useful, constructive, and highly substantive,” but a “compromise option was not found.”

Daily Oil Fundamentals

Struggling Manufacturers, Precise Ukrainian Drones

02 Dec 2025

Struggling Manufacturers, Precise Ukrainian Drones

One way to measure global and regional economic health is to follow the worldwide activities of manufacturers. The latest snapshot is anything but encouraging. Call it what you will—tariff headwinds, high interest rates, inflation anxiety, or stuttering aggregate demand—factories were forced to scale back production in November.