The Daily Dose; Brent Prices Seem Happy Where They Are, for Now.

-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.

No Envy for OPEC

Risk level: Yellow RED: Severe (+/- 4%) ORANGE: High (+/- 3%) YELLOW: Elevated (+/- 2%) BLUE: Guarded (+/- 1%) THE BOOSTER SHOT -OPEC+ made a mistake. -A V-shaped recovery is out of the question. Crude oil prices suffered a deep contraction last week on clear signs that a V-shaped recovery was unlikely. A surprise build … More No Envy for OPEC