The tug-of-war btw global recession & Saudi Arabia continues. After wrestling control from demand via supply constraints, suddenly demand is back on the table. Plunging gasoline use in the US has spiked gasoline stocks threatening to spill over.t.co/bzQDDykYs1 pic.twitter.com/HmZ3O31SoA
— Jeffrey P. Snider (@JeffSnider_AIP) October 5, 2023
S&P Global's services number just barely on the plus side of 50. Like so much other data, the mid-year bounce didn't survive the summer leaving the economy facing oil prices in seriously weak shape. No wonder gas use dropped off a cliff. t.co/bzQDDykYs1 pic.twitter.com/3P4HBWSFkh
— Jeffrey P. Snider (@JeffSnider_AIP) October 5, 2023
#recession … #GFC2 #Commodities edition#OOTT #Oil #oilandgas #WTI #CL_F 📉 t.co/llXRkCY5fM pic.twitter.com/lhNDTatq5L
— Invariant Perspective (@InvariantPersp1) October 4, 2023