-Commodities giveth and taketh away -Russia pours cold water over OPEC-led curtailments We commented Tuesday about a note from London oil broker PVM that stated the trend in crude oil prices suggests traders may as well flip a coin. The broker was right. Crude oil prices shot up in the middle of the previous … More The Daily Dose; Deck Stacked Against Crude
-Pre-pandemic demand is on hold -Investment trends hint at future shape of US government Supply-side issues by way of Libyan oil gave way to positive demand signals from China to give the price of oil a boost in early morning trading. The resumption of activity at the Sharara oil field, Libya’s largest, offset some … More The Daily Dose; Demand Is Not Quite Ready for Prime Time
-Hurricane threat adds to bullish sentiment -IMF warns of a bumpy road to recovery Crude oil prices continued to rally early in the Tuesday session, though it had little to do with the health of the US president this time around. Hurricane Delta has already prompted some companies to shield their assets and personnel … More The Daily Dose; Risk-on, but it’s temporary
The GERM Report 