-Chart for Brent is flatlined -Mind the caveats from the Bank of England. Traders cherry-picked an assessment from the OECD that the global economy would fare better than first expected, ignoring the pessimism from early in the week from BP, the IEA and OPEC. A drain on US commercial crude oil inventories and gasoline, … More The Daily Dose; Brent Prices Seem Happy Where They Are, for Now.
-China switches sides in the Thucydides Trap with India -The rally in crude oil prices this morning is a false positive. Crude oil prices were in rally mode in early morning trading after manufacturing readings in the European economy prompted something of a sigh of relief. Factory activity in China showed an uptick in August … More The Daily Dose; Rally in Oil Prices Seems Unfounded
-US economy is in stand-still mode -Hurricane Laura spares much of Texas, though don’t ignore its impact. A down day in the Asian markets spilled over into morning trading in the US to help drag the price of oil lower. Crude oil prices have barely moved mid-week as traders had already bet in the impact … More The Daily Dose; Economic Weakness Limiting Oil Gains
The GERM Report 