-The lower-for-longer mantra was prophetic -US crude oil inventories skewed by temporary factors. The computers are taking over the market. Crude oil prices were up in early morning trading after the American Petroleum Institute reported yet another draw on US commercial crude oil inventories. Data, however, are skewed by the impact of Hurricane Laura, which … More The Daily Dose; Told Ya So, Says Bob Dudley
-Heart of US refining sector expecting 110mph winds and a foot of rain. -With natural gas in play, Germany steps in to Turkish-Greek disputes. Crude oil prices were on the rise as dual storms in the Gulf of Mexico bared down on the large concentration of refineries and shale wells in PADD 3. US forecasters … More The Daily Dose; Laura Puts PADD 3 in Her Sights.
-Green shoots do little to explain demand destruction -Toxic US climate will get worse before it gets better. The price for Brent crude was in negative territory early Tuesday, erasing much of the gains from the previous session. Headline issues were largely centered on an announcement from British supermajor BP that it was making a … More The Daily Dose; BP makes excuses for bruising quarter
The GERM Report 