-US jobless claims a bit worse than expected. -China posts growth in the second quarter. The market is having a latent response to the decision from OPEC to ease back on production curtailments, with Brent erasing gains from a previous session spurred by supply-side data. OPEC’s secretary general on Wednesday credited coordinated restraint along multilateral … More The Daily Dose; Second Economic Verse, Same as The First
Risk level: Orange RED: Severe (+/- 4%) ORANGE: High (+/- 3%) YELLOW: Elevated (+/- 2%) BLUE: Guarded (+/- 1%) THE BOOSTER SHOT -After OPEC+, Russia sees a geopolitical opening. -Pleas to support globalization continue. The price for Brent crude oil fell more than 2% for the week ending June 26 as an uptick in coronavirus … More The Russian Bear Breaks Free
-Optimism was misplaced -Iran to shift oil away from Persian Gulf Brent crude oil lost its grip on $40 per barrel after a damning economic assessment from the International Monetary Fund. What is set up to be three straight sessions of decline for the global benchmark indicates the early wave of optimism over the fight … More The Daily Dose; Brent Loses Grip on $40.