Oil Prices - Snapback to Reality Hits Excessive Enthusiasm Hard

Oil Prices - Snapback to Reality Hits Excessive Enthusiasm Hard

Bullish OPEC and EIA Inventory Data in October completely reverse in November.

We see no reason to change our recommended long-volatility positioning, given uncertain policy implications following the US election, and our assessment of no better than equal probability for OPEC action at the end of November.

 

Read More

Oil Prices - Global Uncertainty Derails Recovery, Increased Volatility Ahead

Oil Prices - Global Uncertainty Derails Recovery, Increased Volatility Ahead

The oil-price trend is down. The momentum of recovery from lows in January to a peak in June has been broken by the resurgence of macroeconomic-related fears, and the emergence of fundamental data suggesting high refinery utilization rates may have overestimated end demand, resulting in unseasonable refined product inventory builds (gasoline). 

Read More