Happy Birthday Singapore! For the oil bulls it seems that was the only celebration this month. Trump continues his crusade against China, Iran, Russia, Turkey, Mueller, CNBC, New York Times, my neighbour’s poodle and the list goes on and on. As much as I want to resist it, my monthly newsletters just seem to be becoming a political commentary for Trump. Alas, we do not live in a perfect world and the oil market does not react to the more interesting topics such as how well Singapore is doing for the Asian Games.
Brent Crude Oil Prices: Oil reached 2 months high of $79.70 before retreating to low of 70.30, a level not seen since April.