Daily Oil Fundamentals

Chekhov’s Rifle

09 Jun 2025

Chekhov’s Rifle

Oil recorded impressive gains last week, but bond prices weakened. Equities were stable, notwithstanding the sensational but anticipated fallout between the world’s most powerful man and the richest one. The charade could be easily dismissed as a clash of egos, nonetheless it lays bare the consequences of a plutocratic administration headed by those from the private sector. It also confirms the suspicion that this is a government of the people, by the people and for the people no longer, also embodied in deploying the National Guard in LA protests over the weekend.

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.