-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!
-We clearly have a demand problem going forward. -Market shrugs off landfall of Hurricane Zeta. It was a bloodbath for crude that not even missile threats for Saudi Arabia could upend. And traders all-but ignored landfall from Hurricane Zeta. Instead, it was a build on commercial crude oil inventories in the United States and tightened … More The Daily Dose; Saudi missile threat? What Saudi missile threat?
-All that positive data is old data -Brent gets comfy at around $40/bbl Crude oil prices moved higher in early Wednesday trading amid expectations of another rebound in hiring in the US economy. Data on floating storage levels, meanwhile, show demand is slowly but steadily on the rise. And while it’s a rear-view look for … More The Daily Dose; The Mood May be About to Change.
The GERM Report 