There was not much to cheer about after the latest stats on US oil stocks were released but the one part, crude oil, that was bullish was relevant enough to support the whole oil complex. Production fell another 100,000 bpd to 11.50 mbpd and crude oil inventories drew for the second consecutive week. This depletion [...]
Both bulls and bears can take heart from yesterday’s developments. The supply side of the equation favoured the former. There are growing hopes that the global oil tanks will not overflow. This is what Saudi Arabia wants to avoid by any means. The Kingdom’s energy ministry directed Aramco to reduce the country’s output by an [...]
Rule book update
From today, 3 January 2018, MiFID II comes into effect.