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Early Christmas for oil bulls

It was only 3-4 days ago but the slump in oil prices at the beginning of the week has speedily been erased from memory. Bulls have fought back with vengeance and currently they seem to be in control of their own destiny. Yesterday’s price action suggests that speculative buying interest is being coupled with some [...]

2019-11-28T20:35:46+00:00November 22nd, 2019|

Trade talks suffer set-back

As the oil market strengthened yesterday pre-EIA, after the slump on Tuesday, the result of an old survey popped into mind. The majority of the respondents thought that a country, where illiteracy is STILL 4% should be ashamed of itself. Well over half of another group surveyed was convinced that a country, where literacy has [...]

2019-11-28T20:36:45+00:00November 21st, 2019|

Middle East is brewing again

When the market makes a relatively significant move without any obvious or tangible reason, it is always convenient to conclude that the price action was technical-driven. Probably this is what happened yesterday as both WTI and Brent shied away from last Friday’s high and ultimately finished the day in the red. It is tempting to [...]

2019-11-28T20:39:48+00:00November 19th, 2019|

Tentative bull market

What should you think when Brent and WTI settle at their highest levels for nearly two months? Or when the major US stock indices are making fresh record highs and settlements almost on a daily basis? When not only US indices but also the MSCI Global Equity Index rallies and closes at levels never seen [...]

2019-11-28T20:40:33+00:00November 18th, 2019|

A bull in sheep’s clothing

The OPEC Secretary-General has struck several bullish notes of late. Mohammad Barkindo recently painted an upbeat outlook for the oil market in 2020, saying that it may have upside potential. Underpinning this chirpy tone is his confidence that the US and China will strike and trade deal. Furthermore, he is a firm believer that US [...]

2019-11-28T20:41:13+00:00November 15th, 2019|

The Trump Show

All eyes were on the US President yesterday as he took to the podium to deliver clues to the future direction of his policies. Or at least that was the plan. Yet in true Trump fashion he provided scant details on the all-important trade front. Clarity was indeed in short supply as he sent out [...]

2019-11-28T20:44:29+00:00November 13th, 2019|