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After an "unexpected" late 2023 plunge, oil prices rebounded and the WTI curve even managed to flip from contango to backwardation. Rather than point to a firming global situation, the latest move in the crude market instead proves it was just Red Sea shipping fears. A shocking collapse in German trade reminds us of what oil's fundamentals really are. Eurodollar University's Money & Macro Analysis IEA Monthly Oil Report December 2023
https://www.iea.org/reports/oil-market-report-december-2023 IEA Monthly Oil Report January 2024
https://www.iea.org/reports/oil-market-report-january-2024 ECB Combined Policy Decision and Statement January 2024
https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds240125~d65b43331a.en.pdf?18350e063857b7aa27302e03a8f721d5 https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU |
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