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.

Daily Oil Fundamentals

Supply Concerns Help Oil Amidst Growing Economic Gloom

03 Jun 2025

Supply Concerns Help Oil Amidst Growing Economic Gloom

Apart from oil risk appetite suffered from nausea and for good reasons. The trade war initiated by the US is in full swing as discussed below and it is being mirrored in hard economic data. It is more of a harbinger of what lies ahead and must not be ignored. Although the European manufacturing sector is on the mend as its PMI rose to 49.4 in May from 49.0 in April, factory activity in several Asian economies is struggling to gain traction.

Daily Oil Fundamentals

Still Bearish

02 Jun 2025

Still Bearish

On Friday we expressed in summation that the art of oil price prediction has become a clouded affair. The many-faceted articles of drivers within current events in which oil is so intractably aligned change on a daily basis, and to ball them up into conclusion could only come with a flow chart of caveats so long that the process would fill a physics chalk board. Yet there are a couple of news items over the weekend that cannot but allow us to once again cast shade of a bearish nature over the near future for our market’s fortune.