Daily Oil Fundamentals

Oil Pushed and Pulled, but Overshadowed by Wider Macro Concerns

29 Jul 2024

Oil Pushed and Pulled, but Overshadowed by Wider Macro Concerns

A rather muted opening greets oil prices after Middle East tension is back on the menu due to a reported Hezbollah attack from Lebanon that killed children playing on a football pitch in Israeli-occupied Golan Heights. Our market, in some ways sadly, is becoming immune to such atrocities and what might befall the region in notional conflagration, even with increased aggressive language from the likes of Turkey threatening to intervene with supplies of weapons and support for Palestinians.

Daily Oil Fundamentals

Some Relief, at Last

26 Jul 2024

Some Relief, at Last

We have pointed out on the pages of this note that the interpretation of a news item or development can greatly diverge in a rising from a falling market. Stock draws, wildfires close to oil producing regions or economic buoyancy might be dismissed when the underlying backdrop is sanguine but could provide the perfect excuse to cover short positions after a few days of heavy retreat.

Daily Oil Fundamentals

Markets are Taking a Summer Breather

25 Jul 2024

Markets are Taking a Summer Breather

Investors seem somewhat disconsolate as the suspected over-expectation of the tech stock mega-caps sees a very crowded ownership lightening up, and because of the nature and powerful influence projected by the likes of Tesla and Alphabet/Google and yet to report peers, markets feel an uncomfortable dose of reality. A check back in the world's bourses is not just from an over-cooked fraternity alone.