-Analysts scoff at Riyadh’s Clint Eastwood Moment -Libya may be back in play. The market taste-tested $43 per barrel for Brent crude oil and didn’t seem to care for it much, at least in movements before the start of Friday trading in the United States. The global benchmark for the price of oil is … More The Daily Dose; Brent Overheated.
-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.
-Eurozone PMI just barely on the positive side of growth. -Libyan government in Tripoli declares cease-fire. Crude oil prices were moving into negative territory for the third-straight session on signs that hopes for a V-shaped economic recovery are fading. The data firm IHS Markit found that economic growth in the Eurozone is slowing down just … More The Daily Dose; European Weakness Drags Oil Prices Lower.
The GERM Report 