Tag: Cushing

The Daily Dose; You Might Not Like “Normal”

May 22, 2020

-Geopolitical tensions return with a vengeance. -Market perceptions collide with market reality. Geopolitical tensions collided with economic pitfalls to drag on crude oil prices in early Friday trading. On Thursday, the White House spelled out a decidedly competitive policy on China, arguing US interests must be protected against Beijing’s ambitions of reshaping international norms. In … More The Daily Dose; You Might Not Like “Normal”

The Daily Dose; The Return of Trade Tensions

May 21, 2020

-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