Daily Oil Fundamentals

Markets Cheer on Trade Court’s Blocking of Tariffs

29 May 2025

Markets Cheer on Trade Court’s Blocking of Tariffs

Recently, we discussed along with others, on how the tariff policy of this current White House might just be given another layer of intrigue by the little know Federal Court of International Trade. That complication found fruition yesterday as the court indeed ruled President Trump’s invocation of emergency laws giving him the power to impose tariffs as unlawful. The New York gathering of judges said it was the role of Congress to regulate commerce, and the International Emergency Economic Powers Act (IEEPA) does not empower him ability to sweep the world with tariffs.

Daily Oil Fundamentals

It is Almost All About Perceptions

28 May 2025

It is Almost All About Perceptions

Empirical evidence of the last few months suggests that whenever oil and equities decouple, the former is influenced by supply-side developments. Yesterday stock markets rallied hard, bond yields tumbled, and the dollar strengthened. The return of risk appetite was the result of yet another U-turn in the US tariff charade. It took Donald Trump two days to reverse its decision to punish EU goods shipped to the US with a 50% excise duty and extend the deadline from June 1 to July 9.

Daily Oil Fundamentals

Beaches Are Not the Only Place that See Flip Flops

27 May 2025

Beaches Are Not the Only Place that See Flip Flops

All markets crave consistency, much as economies of the world do. Ask the world's general populace what they largely require, and given time to consider, is an economy that charts left to right and mildly wanders to the upside. Boom and bust policies are felt by the tax paying civilians who have to endure the fallout from excessive monetary easing or the bouts of austerity to remedy them. As bad as that is all to contend with, it normally is a binary set of woe. However, instead of an economic world based around a pivot, the introduction of the Trump phenomenon means it is now based on a gimbal. Economic stalwarts and trusted reaction within them are upended, just take a look at US treasuries.