-China chums the oil waters. -WTI may be on life support as a benchmark. Retail investors leap-frogged to late-month contracts for WTI, devastating the US benchmark for the price of oil. A perfect storm of market competition, demand destruction and technical trading parameters has brought the US oil sector to its knees. And it’s getting … More The Daily Dose
-Geopolitical risk mounts a comeback. -US “reopen” movements exposes risk of politicizing crises. Politicizing a crisis is indicative of a lack of genuine leadership and it often results in unintended blowback. This is true in the case of the coronavirus and the oil markets. Right-leaning leaders that represent oil-producing states in the US spent much … More The Daily Dose
-Cushing is already full. -The US oil economy may need a panic button. The primary US commercial storage facility in Cushing, Okla., is full for all intents and purposes. That’s the word Tuesday from Ole Hansen, the head of commodity strategy at Saxo Bank, after the biggest collapse in US crude oil prices since record-keeping … More The Daily Dose
The GERM Report 