It took an escalation in Iran-Israel tensions and the optimism generated by the Chinese government’s stimulus efforts to lift oil out of its three-month downward trajectory.  Nevertheless, sustaining bullish price momentum in oil has proven to be a high maintenance task: without additional catalysts, the ‘war’ and ‘stimulus’ premiums have been prone to fading. While possible, Israel is likely to avoid Iranian oil infrastructure. Conversely, the rising expectations for RMB 2 trn fiscal stimulus are likely to be met.

Speaker:

Natasha Kaneva, Head of Global Commodities Research

This podcast was recorded on 11, October, 2024.

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