Oil prices have suffered at that changing of minds among those producing reports on the state of supply versus demand. We will undertake a more detailed look in tomorrow’s report but yesterday started with a walk back by the International Energy Agency on the future role of oil in the energy puzzle.
The vote as yet needs to pass the House of Representatives and be given a Presidential signature, but the US Senate’s approval of an interim deal to reopen the US government is giving a tailwind to most risk assets. Bourses are once again trying to make the high ground, even after the news of Japan’s SoftBank selling all its Nvidia exposure.
The US economy would suffer irretrievably in the event of a prolonged government dysfunction. That much was made clear by one of the White House advisers, who warned of a potential contraction in the fourth quarter unless government buildings reopen promptly.
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