-The market is cherry-picking data. -Brent loses its grip on $40 per barrel. It was déjà vu all over again. It was déjà vu all over again. The slump in crude oil prices that was anticipated after US crude and fuel inventory data failed to materialize in the previous session, supported by a weaker US … More The Daily Dose; Pick Your Headline.
-Like OPEC, US Fed Chief Powell needs a Goldilocks moment. -OECD finds the global employment situation to be bleak. Chinese oil demand is almost back to what it was in late 2019, before the onset of the coronavirus pandemic. US consumer fuel demand, meanwhile, is recovering from an April slump. That’s the word Wednesday from … More The Daily Dose; Is Reality (Finally) Catching Up With the Market?
-US employment peaked in 4Q19. -World Bank sees lasting economic scars. Word that a trio of oil producers in the Middle East, including Saudi Arabia, would bail on extraordinary production cuts threatened to end a remarkable streak for the price of oil. Brent had been on a bull run since late April, rallying some 43% … More The Daily Dose; The Economy Was Kinda Bad Already.
The GERM Report 