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Ready, set, cut!

They met; they cut; and the market paid no attention. OPEC day turned out to be an underwhelming affair if the price action is anything to go by. Indeed, the two leading crude markers ended the session little changed. This is in spite of the fact that the OPEC+ producer alliance is bracing for deeper supply [...]

2019-12-06T14:05:27+00:00December 6th, 2019|

A Bullish Cocktail

The noises coming out of Washington have been very confusing lately. A bigger than normal dose of uncertainty surrounds the trade policy of the US administration. It all started last Friday when President Trump demonstrated its support for the Hong Kong protesters. This week he raised the possibility of not striking any deal with China until [...]

2019-12-05T11:56:19+00:00December 5th, 2019|

The Trump waiting game

Like the Grinch, the season of goodwill seems lost on the US President. We are barely halfway through the week and the self-declared “Tariff Man” has already made a series of protectionist moves. On Monday, he made the surprise announcement that tariffs on steel imports from Brazil and Argentina would be restored. As if for [...]

2019-12-04T13:41:04+00:00December 4th, 2019|

Tariffs here, tariffs there, tariffs everywhere

From a bull’s perspective yesterday’s gains in the oil market actually feel like losses. Friday’s massive expiry related price falls was meant to be a one-off and the market was expected to recover yesterday. It duly did so in the early part of the trading session. The strength that took Brent $1.60/bbl above Friday’s settlement [...]

2019-12-03T10:29:21+00:00December 3rd, 2019|

Bitter end to a positive month

US traders had clearly thought long and hard about the oil market on Thanksgiving and concluded that prices are unjustifiably high, maybe due to the rising tension between the US and China because of the Hong Kong protests. Or they might have been disappointed with the lack of real upside progress on Thursday and Friday [...]

2019-12-02T11:34:20+00:00December 2nd, 2019|

Mixed report with bearish bias

US traders had clearly thought long and hard about the oil market on Thanksgiving and concluded that prices are unjustifiably high, maybe due to the rising tension between the US and China because of the Hong Kong protests. Or they might have been disappointed with the lack of real upside progress on Thursday and Friday [...]

2019-12-02T11:25:49+00:00November 28th, 2019|

Trade deal optimism persists

The last 30 minutes of trading breathed some life into an otherwise uneventful trading session yesterday. The belief in a positive trade deal continues unabated and all that was needed for a good 60 cents/bbl rally towards the close was some warm words from the US President. Donald Trump said that the US was in [...]

2019-12-02T11:16:41+00:00November 27th, 2019|