Daily Oil Fundamentals

Iran, Israel, Nuclear Talks and NVIDIA, the Churn Continues

28 Aug 2024

Iran, Israel, Nuclear Talks and NVIDIA, the Churn Continues

Since breaking below the 200-day moving average in the middle of last month, both WTI and Brent have an air of inevitable failure each time they try to retake the most important slowest mean, and so it proved the case yesterday. Technical exhaustion coincided with what seemed a cooling of affairs as the exchange of missiles between Hezbollah and Israel, in hindsight, did not warrant the fear of impending conflict spread.

Daily Oil Fundamentals

Jerome Powell Makes his Case

27 Aug 2024

Jerome Powell Makes his Case

Justified worries about the health of the Chinese economy were succeeded by the sanguine view on how the US will perform in the coming month. The reassurance was provided by the chair of the Federal Reserve, Jay Powell, who used the annual central bankers’ symposium in Jackson Hole, Wyoming as a platform to describe the state of the US economy before providing his strongest hint yet at the impending lowering of the cost of borrowing.

Daily Oil Fundamentals

Cometh the Moment, Cometh the Man

23 Aug 2024

Cometh the Moment, Cometh the Man

Well, here we are. The man of the hour, Jerome Powell, Federal Reserve Bank Chair, will climb the dais of monetary power later today at the Jackson Hole Symposium with the weight of the world's economic fortune on his shoulders. There probably has not been a more anticipated speech in the recent annals of central banking.