-Weak earnings reports set the mood for the day. -OPEC may have no choice but to stay where it is on production. The price for Brent crude oil is on pace for a 7.7% contraction for October as demand disintegration reemerges alongside the rise in new cases of the novel coronavirus. European countries, and now … More The Daily Dose; Brent on pace for a 10% contract in October
-Seasonal factors are heightened by the pandemic. -Some OPEC producers are getting impatient. It was another bruising day for crude oil prices, though major indices had recovered somewhat from the early-morning sell off. We’ve said it before and we’ll say it again, demand is a clear issue as the pandemic holds no quarter. Apart from … More The Daily Dose; Demand is Dead. Long Live Demand!
-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
The GERM Report 