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Daily Oil Fundamentals

High Drama in High Places

06 Jun 2025

High Drama in High Places

The extraordinary recent scene of Volodymyr Zelensky receiving a public dressing down from President Trump and his Vice J.D. Vance might have been imagined by some as the nadir of this current Administration’s delve into pantomime and Shakesperean tragedy. None of it, the online spat that has ensued following the all-too-predictable failure in the brief love-in between the most powerful man and the richest man in the world seems inspired by Macbeth and King Lear and takes the high office to even new lows.

Daily Oil Fundamentals

Inflated US Oil Stocks, Stuttering Economy

05 Jun 2025

Inflated US Oil Stocks, Stuttering Economy

Fears of supply disruption from Canada and geopolitical risk premiums from the Middle East and Ukraine were on the back burner yesterday. The oil fraternity cast its eye over US oil inventories and the threat of growing supply. Proxy demand for US gasoline and distillates showed weekly declines of 1.2 mbpd and 740,000 bpd. No surprise then that stockpiles in both products ballooned firmly aided by the 3.1% rise in utilization rates. When refiners step on the accelerator crude oil stocks tend to plunge.

Daily Oil Fundamentals

‘Best Offer’ Day is Here, Who Has the ‘Metal’ to Get Involved?

04 Jun 2025

‘Best Offer’ Day is Here, Who Has the ‘Metal’ to Get Involved?

Markets once again experience a turn point day as the ‘best offer’ deadline for countries to propose their trade deals with US arrives. Five weeks ahead of the day when the reciprocal tariffs will be implemented, it appears Trump’s Administration is keen for countries to settle beforehand. Cynically speaking, it does beg as to whether the US is playing chicken, and one wonders if some hard-nosed dealing countries were to take it to the limit, there might not be just another extension available.