Daily Oil Fundamentals

OPEC Just Made it Harder

03 Jun 2024

OPEC Just Made it Harder

It is rather unsurprising to see how net longs in WTI, even though increased last week, continue to be at lowly levels.

Daily Oil Fundamentals

Anxiety All Around

31 May 2024

Anxiety All Around

A hesitant market became decisively and hastily panic-stricken shortly after the release of the weekly US oil statistics from the EIA.

Daily Oil Fundamentals

Ominous Friday

30 May 2024

Ominous Friday

The road back up to $90/bbl is paved with anxiety about inflation. The support that was based on the ever-brewing Israeli-Hamas tension and manifested in the brutal attack on Palestine civilians over the weekend and on the buoyant view on Chinese economic fortunes presented by the IMF was pulled yesterday afternoon as some kind of reality check set in, which sent oil prices $1.50/bbl down from intra-day highs.