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Daily Oil Fundamentals

So Many Drivers in Markets Will See Investors Take Pause

29 Oct 2024

So Many Drivers in Markets Will See Investors Take Pause

The oil market is trying to regain some of its sea legs and has found some contributary bullish aids in doing so. Yesterday's announcement by the US DoE that it would seek up to another 3-million barrels of additional oil for its Strategic Petroleum Reserve (SPR) refilling, introduces a fundamental buyer into a category which at present has been sparsely populated.

Daily Oil Fundamentals

Timely Relief, But for How Long?

28 Oct 2024

Timely Relief, But for How Long?

At last. A rather obtuse and probably undignified way to greet an attack by one sovereign state into another. Yet it is one that most of the oil fraternity shares. This of course refers to the early hours of the Middle East Saturday clock when Israel launched precise and wave-like ariel attacks on military targets in Iran, which has since been made public as operation ‘Days of Repentance’.

Daily Oil Fundamentals

Watch the Spreads

25 Oct 2024

Watch the Spreads

The market is not exactly paralyzed but uncertainty makes investors understandably and justifiably pragmatic. It appears that they find it unnecessarily risky to leave positions open for more than a day or maximum two. Two days of marching higher was followed by two days of profit-taking. Fears of supply disruptions subsided but rest assured they have not gone AWOL.

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