-China’s oil purchases off the US mark. -Spread tightening shows easing supply-side fears. Crude oil prices are pointing to a balancing market, structurally speaking. The six-week calendar spread for Brent has collapsed from $6 per barrel in early April to less than 70 cents. The tighter the spread, the tighter the market. OPEC+ curtailments and … More The Daily Dose; The Return of Trade Tensions
-Fears of overflowing storage are subsiding. -OPEC sees worst contraction coming in 2Q. The headline in Reuters is that Hollywood can learn a thing or two from the porn industry, and again those of us observing the oil market can learn a thing or two from the health sector. Testifying via video conference, Dr. Anthony … More The Daily Dose
Risk level: RED RED: Severe (+/- 4%) ORANGE: High (+/- 3%) YELLOW: Elevated (+/- 2%) BLUE: Guarded (+/- 1%) THE BOOSTER SHOT -The dangers of over-reaction are high in times of crisis. -Earnings week from global supermajors will tell us how bad things really are. A change in the rules is necessary so that a … More AmericaOil
The GERM Report 