Daily Oil Fundamentals

The Sum of the Moves Do Not Reflect Some of the News

04 Nov 2024

The Sum of the Moves Do Not Reflect Some of the News

Is there any wonder that investor fatigue started to set in on many asset classes last week? Not only having to consume, analyse and react to the reams of data witnessed over a busy 5-calendar day period, there is of course always the consideration of what the great and mighty of governments, their formal political oppositions or in some cases battlefield foes, decide to pour forth in word form for the world’s ready media to gobble up and banner.

Daily Oil Fundamentals

A Hard Week for Global Investors

01 Nov 2024

A Hard Week for Global Investors

The wider suite is experiencing another swathe of risk-off going into the US election. This, of course, is expected but corporate results, national data and warnings from monetary watchdogs accelerate reasons to be cautious. The investor populace has been indulged this year to an easy boom in tech related spoils. So much so, that even with Microsoft and Meta reporting better than expected earnings, anything short of stellar is greeted with dismay.

Daily Oil Fundamentals

Relief, But Not Full Redemption

31 Oct 2024

Relief, But Not Full Redemption

Oil prices have at last found some reprieve due mainly to the higher draws in US inventory and OPEC news. The EIA/DOE report show US Crude stocks fell by 515kb last week, Distillate by 1mb, but with arguably the biggest market reaction coming from the Gasoline draw of 2.7mb. An odd time in the year for Gasoline demand but its proxy for measure, Gasoline supplied, increased to 9.2mbpd on the week from 8.8mbpd.