Daily Oil Fundamentals

Nvidia and Francine to the Rescue

12 Sep 2024

Nvidia and Francine to the Rescue

A gust of hope blows through the wider suites, and it is to do with computer systems, rather than those of the weather variety. The news late in the trading day that the US government is contemplating sales of advanced microchips from Nvidia to Saudi Arabia has the investment tourists cock-a-hoop again and they pile back into the AI darling. The tech company's shares have rallied 8% overnight and how its fortune is the bellwether for bourse prices is a now well-practised commentary.

Daily Oil Fundamentals

Calling the Bottom Soon with One String Attached

11 Sep 2024

Calling the Bottom Soon with One String Attached

As the saying goes, markets can stay irrational longer than one can stay solvent. It is an open question whether the current sell-off, which started in the second half of August and took the price of Brent below $70/bbl yesterday for the first time since December 2021 is an irrational one and whether it will continue.

Daily Oil Fundamentals

Half-hearted Correction

10 Sep 2024

Half-hearted Correction

The message from China is simple but loud and reverberates throughout the globe. The country keeps struggling to incentivize spending and sluggish aggregate demand ensured that industrial producer prices fell by a forecast-beating 1.8% last month whilst consumer prices inflated 0.6%, below analysts’ expectations. Overnight data was equally disheartening: August exports exceeded expectation, imports underwhelmed, and the purchase of foreign crude oil dropped 7% on the year.