Daily Oil Fundamentals

Oil Prepares For a Big Day and Big Weekend

28 Jun 2024

Oil Prepares For a Big Day and Big Weekend

As most markets draw in breath at the end of both the second quarter and first half of the year oil remains true to its current form of expansionism on prices. There is little doubt that the current increasing backwardation in M1/M2 Brent futures at expiry is having most of the positive influence across the complex, for North Sea markers in nearby CFD's and dated versus front line, while remaining steady, have not advanced much at all this week.

Daily Oil Fundamentals

Oil Surrounded and Quiet

27 Jun 2024

Oil Surrounded and Quiet

Yesterday turned into something of a non-event for oil prices as commodities and the wider suite hunker down in the face of data and politics at the week's end. What added to the mix of reasons to be careful were the rather insipid data from the US EIA Inventory Report.

Daily Oil Fundamentals

Retreat, Bullish Factors still at Play

26 Jun 2024

Retreat, Bullish Factors still at Play

No markets are inoculated from (not-so-) sharp and (not-so-) sudden trend reversals that ultimately turn out to be healthy corrections. Yesterday’s weakness bears all the hallmark of one as the underlying driving forces have not gone away.