Supply disruptions, trade wars and falling OPEC share capacity dominate the headlines but as the oil market settles in for the summer lull the growing disconnect between physical and paper…

All numbers on potential OPEC production increases have by now been thrown around:  Up to 1.5 mb/d release last week, down to the now consensus 300 - 600 kb/d latest to…

Geo-political headlines on Iran, Venezuela, and Middle East tensions pushed oil though $80/bbl. A new narrative focused on demand destruction, emerging market stress, Brent contango and rising interest rates is…

The market was positioned for Trump’s pull-out of the Iran deal but unprepared for the hawkish tone. For anyone with “skin in the game” it was perceived more as a…

Amid the increased “noise level”, the most important news to hit the tape was Saudi’s $80 bbl target (from Bloomberg and then a recent Reuters article of $100 bbl). Technicals…