By Paul Sankey
Published on October 5, 2021 at 8:09 AM
The headlines from yesterday’s OPEC meeting were “oil jumps to its highest level since 2014”. We finally made it back, and goodness me, it was a long road. Of course, the WTI price we have attained today with a super-bullish backdrop is completely different from what we faced in October/November 2014. At the time, we had peaked at $107/bbl in mid-2014, after a sustained period 2010-2014 when oil traded in a range with $80/bbl as […]
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By Paul Sankey
Published on August 29, 2021 at 9:10 AM
Good morning from London Great week last week for all our favourite sectors, the Oils, Metals & Mining, Refining, as well as recovery play JETS (exchange traded fund ETF performance is shown below for past week/year to date). Last week firmly re-establishes oils – almost even including MLPs – into the position of market leadership this year. Other leading sectors year to date, but not the past week, are Retail, Homebuilders and Communication Services. See […]
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By Paul Sankey
Published on August 8, 2021 at 11:47 AM
The US has negative unemployment, by one measure. The confirmation of that on Friday led to an interesting market reaction. The data point on negative unemployment released before the market was that there are 8.6 million people considered out of work in the US and nearly 10 million job openings. This could be a moot point in the EU where movement of labour is much more challenged by language and culture, but in the US, […]
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