Daily Oil Fundamentals

Conflict Premium Returns

23 Oct 2024

Conflict Premium Returns

The Middle East war premium comes marching back just in time to save Brent drifting into the ignominy of a $60/barrel handle. Two days of rallies eat at much of last week's 7% loss due to market perceptions of how the pieces of the war puzzle are falling into a timely picture in which Israel finally strikes directly at Iran. A compelling argument emerges that it is due to the US election on why Israel seems intent on keeping the pace of war in such a state.

Daily Oil Fundamentals

Timely but Possibly Brief Correction

22 Oct 2024

Timely but Possibly Brief Correction

After last week’s ghastly performance, the week has started on the front foot. Oil has re-gained some of its mojo and rallied hard. WTI settled $1.35/bbl and Brent $1.23/bbl higher. One of the chief motivators was the recent weakness itself as some bounce is always due in a market trending southwards, only the timing of it is usually dubious.

Daily Oil Fundamentals

Oil Remains the Second Fiddle in the Investment Orchestra

21 Oct 2024

Oil Remains the Second Fiddle in the Investment Orchestra

Oil prices continue to lag when compared with other strings of the investment instruments. There does seem an inevitability in how immunity sets into the sentiment of the oil fraternity which at present incrementally loses notions of disruption to the oil flows of the Middle East.