Daily Oil Fundamentals

Well-Founded or Knee-Jerk Reaction?

30 Sep 2025

Well-Founded or Knee-Jerk Reaction?

Equities rallied yesterday as investors seemed relaxed about the possible US government shutdown, even though critical labour data will not be published in the absence of a last-minute deal to keep the government funded. During a busy afternoon for the US President, before Republicans and Democrats failed once again to come to an agreement, Donald Trump met with Israeli Prime Minister Benjamin Netanyahu.

Daily Oil Fundamentals

Oh, Those Russians

29 Sep 2025

Oh, Those Russians

If any had forgotten the important part Russia plays in the puzzle that makes up the complicated supply lines in the oil market, it was surely brought back in focus last week. The issues surrounding how Russia is being impeded in bringing its oil products to water were singularly responsible in arresting the recent downward grind trajectory and saved prices from looking at the year-to-date lows.

Daily Oil Fundamentals

Oil Market is Standing on One Leg

26 Sep 2025

Oil Market is Standing on One Leg

To identify the supportive element of the oil complex, one simply needs to look at yesterday’s settlement prices. The daily changes, all in cents per barrel, are telling indeed: WTI -1, Brent +11, RBOB -70, Heating Oil +207, and Gasoil +174 (due to its earlier settlement; otherwise, it would have outperformed CME Heating Oil). As the successful Ukrainian campaign against Russian oil infrastructure continues almost unabated, the latest targets being the ports of Novorossiysk and Tuapse, the invader has been forced to halt its diesel exports until the end of the year.