-Behold, the second wave. -Is Brent due for a correction? Crude oil prices were in retraction early Wednesday amid concerns about a second wave of coronavirus infections in the United States, renewed Sino-American trade tensions and a build in US crude oil inventories. Optimism over OPEC+ discipline and the gradual return of demand helped establish … More The Daily Dose; Brent Structure Flips.
-WTO adds voice to better-than-expected chorus. -US trade advisor walks back negative trade comments. Crude oil prices were supported by a tailwind from Bank of America, which upgraded its forecast for Brent by more than $5 per barrel. BofA analysts on Monday defended their forecast by noting improvements in demand, along with strict compliance among … More The Daily Dose; “It Could Have Been Much Worse”
-Russia and Saudi Arabia are at it again. -Hong Kong’s status as a global financial hub is in serious jeopardy. The spot price for Brent crude oil was in positive territory early Thursday, though front-month contracts were down after the American Petroleum Institute reported a sizeable build in US crude oil inventories. Concerns about overflowing … More The Daily Dose; Concerns are A’plenty
The GERM Report 