Pockets of faltering oil production
With the U.S. dollar being dealt a most solid dose of the whoop-bang-wallops (WBWs), crude prices cannot help but be propelled higher today. The great British pound on track for its best day since 2008, as the promise of a parliamentary vote on Brexit has sent it on a madcap rally. A super-strong pound (ergo, a weaker dollar) is lifting crude – although the fun and games for crude kick off in the coming days, with monthly IEA and OPEC reports, and the weekly EIA report. Before that, hark, here are five things to consider in oil markets today.
About The Author
Matt is a Director of Commodity Research at ClipperData. Matt specializes in extracting key themes from technical and fundamental analysis of the global energy market, and communicating these through daily and weekly deliverables. He also provides oil and natural gas analysis and commentary to national and international media outlets that include CNBC, Fox Business, Russia 24, the Wall Street Journal, MarketWatch, AFP, Bloomberg, Reuters, and the Oil Daily. Prior to joining ClipperData, he worked for eight years at Schneider Electric / Summit Energy as a Global Commodity Analyst, where he also founded and authored the blog, Energy Burrito. He started his career at the Royal Bank of Canada in the UK, spending eight years with the bank. During that time, he managed $55 million in assets as a portfolio manager and financial analyst.