-More voices join the chorus singing a tune of unlikely recovery -Norway’s Equinor sees continued demand weakness The price for Brent crude oil was slipping away from gains in Asian trading early Friday after a weaker dollar supported the global benchmark overnight. Data, meanwhile, continue to show the market is clearly oversupplied and demand signals … More The Daily Dose; The Irony That Is the United States
-US jobless claims worse than expected -Barclays, American Airlines see trouble ahead. Warnings from investment bank Barclays and a grim outlook from American Airlines helped drag crude oil prices lower in early Thursday trading. The price for Brent finished the previous session more or less flat despite a sizeable build in US commercial crude oil … More The Daily Dose; We May Be Due for a Correction
-US jobless claims a bit worse than expected. -China posts growth in the second quarter. The market is having a latent response to the decision from OPEC to ease back on production curtailments, with Brent erasing gains from a previous session spurred by supply-side data. OPEC’s secretary general on Wednesday credited coordinated restraint along multilateral … More The Daily Dose; Second Economic Verse, Same as The First
The GERM Report 