-Oil prices forgot all about yesterday. -Barclays ups its oil price forecast, but adds a caveat. The market has lockdown fatigue and its memory is short. Crude oil prices lost substantial ground in the Thursday session as investors worried about the possibility of another round of lockdowns stemming from a resurgent coronavirus. US crude oil … More The Daily Dose; Just Ignore the Bad News.
-The market is cherry-picking data. -Brent loses its grip on $40 per barrel. It was déjà vu all over again. It was déjà vu all over again. The slump in crude oil prices that was anticipated after US crude and fuel inventory data failed to materialize in the previous session, supported by a weaker US … More The Daily Dose; Pick Your Headline.
-The free market is working. -Eni says this is the most complex moment in 70 years. A do-nothing approach to the oil economy is impacting supply dynamics in a way that no artificial mechanism can. After cutting production earlier this month, Bakken producer Continental Resources is halting drilling operations in North Dakota. Italian major Eni … More The Daily Dose
The GERM Report 