OIL MARKET 6: West of Suez, things aren’t looking great. Surging covid cases are denting European demand. The index that @alexlongley1 and I compile (high frequency data for UK, France, Italy and Spain) shows road usage down to -10%, from a recovery peak of -6% hit mid-Sep | 6/12
OIL MARKET 4: The Asian pull is reverberating throughout the global market, mostly via structure. Brent M1-M7 contango has narrowed to a 3-month high this week of -$1.52 a barrel compared to -$3.2 a barrel in mid-Sep. That’s despite weak local demand for North Sea oil | 4/12
This from Sep. 22 turned out to be too optimistic. The moderators simply gave up on real time fact checking and tossed to the Daniel Dales for after-the-fact checking. Not even symbolic push back. The firehose was too much.
U.S. output growth regained momentum in October amid a sustained upturn in demand, with business optimism also improving markedly. The Flash U.S. Composite #PMI Output Index climbed to a 20-month high of 55.5 (Sep: 54.3). Read more:
Deaths are a lagging indicator, just starting to turn up at 788/day over last week (highest since Sep 19). While a continued uptrend in deaths is to be expected, a return to March/April levels is unlikely as the virus is not as prevalent today & younger/healthier cases on avg.
Flash #PMI data from @IHS indicated that the four largest developed economies (US, Eurozone, Japan and UK) continued to grow collectively in October, but the rate of expansion cooled very slightly - the output index hit 51.8 v 51.9 in Sep
#NCT_DREAM ’s first teaser video with a song ‘Drippin’’, which MARK participated in writing rap parts, is unveiled yesterday! You can check out more from their new album 'We Go Up' on Sep. 3! #NCT ? DREAM’s second mini album #WE_GO_UP ‘’: 2018.09.03 #GO_UP #NCT_DREAM_GO_UP _GO_UP
NCT DREAM adds another date to their music variety show ‘NCT DREAM SHOW,’ which will be held on September 30 at 1PM KST! The ticket sale date for the new session starts on Sep.17 at 7PM KST via YES24! #NCTDREAM #NCTDREAM_WeGoUp_ #WeGoUp #WE_GO_UPe #NCT_DREAM_SHOWGoUp
Europe, UK & Ireland…can't believe it ! U guys can get tickets on 28th Sep !