The Daily Dose; The Tale of Two Markets.

-IEA serves up something for everyone -The market has a very, very short memory. Crude oil prices softened in early morning trading on Thursday after the International Energy Agency lowered its forecast for demand for the first time in several months. Global supply, the agency said, is expected to fall, through refinery intake is recovering. … More The Daily Dose; The Tale of Two Markets.

The Daily Dose; Is Reality (Finally) Catching Up With the Market?

-Like OPEC, US Fed Chief Powell needs a Goldilocks moment. -OECD finds the global employment situation to be bleak. Chinese oil demand is almost back to what it was in late 2019, before the onset of the coronavirus pandemic. US consumer fuel demand, meanwhile, is recovering from an April slump. That’s the word Wednesday from … More The Daily Dose; Is Reality (Finally) Catching Up With the Market?

The Daily Dose; Don’t Get Ahead of Yourself.

-OPEC+ in agreement. For now. -The recession will be televised. Brent did it! The global benchmark crashed through the $40 ceiling in overnight trading on word Russia and the other major parties to OPEC+ curtailments were extending the deal beyond June. Russia had balked earlier on deeper cuts, arguing the demand destruction from the coronavirus … More The Daily Dose; Don’t Get Ahead of Yourself.