Daily Oil Fundamentals

Reshaping the Middle East

02 Mar 2026

Reshaping the Middle East

The best way to describe the month of February from the perspective of market performance is to resort to irritating clichés. Uncertainty prevailed, chiefly because of the mercurial US President. The number of ‘known unknowns’ remained elevated, the most salient of which were geopolitics and tariffs. The sum of the parts is far from equal to the whole, another way of saying that current oil price levels do not align with the forecast global supply, demand balance. Translating all of the above into the language of monthly returns, global equities edged higher.

Daily Oil Fundamentals

Whom to Believe?

27 Feb 2026

Whom to Believe?

It is a well-known and widely accepted mantra that the best traders, by and large, thrive in a volatile trading environment. However, as it turns out, there are several types of volatility, and yesterday’s violent price movement was nothing short of unmanageable. It is beyond comprehension how anyone, perhaps apart from flies on the walls of conference rooms in Geneva hotels, could have successfully ridden the wave of uncertainty precipitated by the Iran–US nuclear talks.

Daily Oil Fundamentals

Incredible Nvidia, But Maybe Not Quite Enough

26 Feb 2026

Incredible Nvidia, But Maybe Not Quite Enough

There was no heraldic stock market clash of a gong at the release of Nvidia’s first-quarter earnings forecast, rather a collective, almost audible sigh of relief. At any point during last year if the results seen post-close on Wall Street of the world’s most valuable company had matched these latest offerings, the rally across global bourses would have been extensive. As it is, record quarterly revenue of $68.1 billion, up 20 percent from the third quarter and up 73 percent from a year ago, along with record full-year revenue of $215.9 billion, up 65 percent, served to soothe furrowed brows, shift the tech darling’s share price higher by only 5 percent in the early hours which has since been almost all eroded by profit-taking.