Tag: trade war

The Daily Dose; The Return of Trade Tensions

May 21, 2020

-China’s oil purchases off the US mark. -Spread tightening shows easing supply-side fears. Crude oil prices are pointing to a balancing market, structurally speaking. The six-week calendar spread for Brent has collapsed from $6 per barrel in early April to less than 70 cents. The tighter the spread, the tighter the market. OPEC+ curtailments and … More The Daily Dose; The Return of Trade Tensions

The Daily Dose

May 15, 2020

-US-Chinese trade war to resume -Saudi flotilla threatens to reverse US oil storage trends Technically, crude oil prices are showing a rebound in global demand. The contango structure, where the futures contract is priced higher than the spot price, is tightening, signaling oversupply concerns are fading. An examination of US road traffic shows increased mobility … More The Daily Dose