Daily Oil Fundamentals

Mixed Bag of Manufacturing and the Hurricane Season

02 Jul 2024

Mixed Bag of Manufacturing and the Hurricane Season

The first day of the latter part of 2024 arrived with a bang. Oil prices rallied hard, front-month Brent was quick to fill the expiry gap left on the continuation chart with backwardation widening both on the European crude marker and its trans-Atlantic peer. More importantly, products performed much better than crude oil, thus crack spread values have improved convincingly.

Daily Oil Fundamentals

Oil Continues to Hold its Own in a Very Busy Schedule

01 Jul 2024

Oil Continues to Hold its Own in a Very Busy Schedule

Last week the oil complex put in something of a dogged performance. Despite the setback of the US Oil Inventory figures, the oil fraternity endeavoured to hold on to the idea of impending summer demand and this was aided by worries concerning spreading hostilities between Israel and its immediate foes in both Gaza and Lebanon.

Daily Oil Fundamentals

Oil Prepares For a Big Day and Big Weekend

28 Jun 2024

Oil Prepares For a Big Day and Big Weekend

As most markets draw in breath at the end of both the second quarter and first half of the year oil remains true to its current form of expansionism on prices. There is little doubt that the current increasing backwardation in M1/M2 Brent futures at expiry is having most of the positive influence across the complex, for North Sea markers in nearby CFD's and dated versus front line, while remaining steady, have not advanced much at all this week.