Daily Oil Fundamentals

China in focus, again

15 Aug 2023

China in focus, again

Technical analysts will be happy with a performance from oil yesterday that involved a bounce from a key technical indicator in the 13-day moving average.

Daily Oil Fundamentals

Chinese Concerns

14 Aug 2023

Chinese Concerns

The muted price re-action to last week’s encouraging demand estimates, falling OPEC+ supply, declining inventories and mitigated inflationary pressure is a warning signal that unless China joins the party the path upwards will be paved with pitfalls.

Daily Oil Fundamentals

Life Is Getting Less Expensive

11 Aug 2023

Life Is Getting Less Expensive

The current move up started in July. ICE Brent has rallied 15%, CME Heating Oil 29% and RBOB 18%. At the end of June US retail gasoline sold for $3.685/gallon. Fast forward 6 weeks and it is 7% more expensive.