Daily Oil Fundamentals

An Anniversary Not to be Celebrated

07 Oct 2024

An Anniversary Not to be Celebrated

The world is one year older and none the wiser as the anniversary of the latest atrocity in the millennia of similar outrage is upon us. There is no build up to a listing of what has transpired in Middle East that leads to a hopeful 'but', with ensuing descriptions of a placatory future. It is and remains a shocking mess. The initial fear of war spread that dissipated has been reignited after last week's missile attack from Iran into Israel, and the dire imaginations of burning oil infrastructure from Kharg Island to Riyadh plot their paths across the media once again.

Daily Oil Fundamentals

Elevated Anxiety Level

04 Oct 2024

Elevated Anxiety Level

Apart from those in the know, no one has the crystal ball. Still, presently everyone is worried about a potentially gruesome outcome of the animosity between Israel and Iran and its proxies. The major driving forces in the very recent past are being ignored.

Daily Oil Fundamentals

Middle East Price Reaction Remains Studied

03 Oct 2024

Middle East Price Reaction Remains Studied

Five or ten years ago, oil prices would have shown a very different and violent reaction to missile strikes and bombings in five countries. Needless to say, anything around Israel pulls on historical impassioned attitudes, but in oil terms, the involvement of the more influential Iran ought to bring favour for bulls. Take for example the September 2019 Houthi drone attack on the processing facilities of Aramco's Abqaiq and Khurais that over a weekend rallied the Brent M1 futures price by nigh on $10/barrel.