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…

The market is looking for direction, pinned between seasonal weakness and verbal intervention from Saudi/Russia defending the $60 bbl in Brent. We see better entry points ahead for commercial producers…