2026-03-20 07:50:00
GLOBAL OIL PRICE : ERGODICITY
With the culmination of the Ramadan festivities this week,the main agenda has been cutting through the noise in the global Oil markets. Plays of ricochet have been observed after the bullish momentum since the start of the month with geopolitics taking center stage in the Middle East.
My friends,dry kindling has been set ablaze as price action has been ripping through back to back on session plays.
Intellect dictates us to ask a fair question,how fragile is market ergodicity within this geopolitical conundrum we find ourselves gobsmacked in the middle ?
ICE BRENT has been fiddling with the data trading north of $100/bbl with the days range recorded at $106.51/bbl whereas WTI Crude closing the day at $93.27/bbl with a not so subtle high range at $102.44/bbl on the day.
Urals Crude(REBCO) trading at $99.18/bbl with a daily high print of $105.40/bbl.An increase in Oil prices means a subsequent increase in Russian budget revenues.Russia is now progressively selling its oil to India at roughly $100/bbl.
This is about double the price it was at the start of the year,both quantity and price moving in tandem.Perhaps there is a silver lining beneath the sanctions clouds.
On the Platts Dubai we have a strikingly linear time trend at a break of $150/bbl with a tug of war ongoing for the barrels coming in from Middle East.
Despite Energy being by far best-performing S&P 500 sector,recording a 7% MTD lead over its parent index is modest compared to other regions.
Focusing on Europe and Australia, Energy is outpacing parent indices by a massive 17%; Laggards being materials on a global scale spotting through March underperformance hitting double digit percentages in Canada.
It should be noted that the relative sector performance often reflects regional positioning with respect to fundamental being solely individual.
When Energy is outperforming far more outside the US, it may suggest capital rotating globally into resource exposure rather than a purely domestic trade.
It's safe to say the start of the year,Global Oil Markets is hitting pay dirt and you best have your shovels clean and ready to pick up the pace.It's March afterall,keep your boots glistened and shiny.
Many blessings from the desk,
Andy Warr,
TophatFinanceGroup.
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Earlier:
2026, March, 10, 08:00:00
OIL PRICE: BRENT NEAR $92, WTI ABOVE $89
Brent were down $7.15, or 7.2%, at $91.81, WTI was down $6.26, or 6.6%, at $88.51 a barrel.
2026, March, 10, 07:55:00
RUSSIAN OIL & GAS SUPPLIES UP
Russia is now aiming to capitalize on supply concerns as a result of the conflict in the Middle East, where energy infrastructure and supply routes have been attacked.
2026, March, 5, 08:00:00
OIL PRICE: BRENT NEAR $83, WTI ABOVE $77
Brent was up $2.25, or 2.8%, at $83.65, WTI rose $2.56, or 3.4%, to $77.22.
2026, March, 5, 07:55:00
RUSSIAN OIL FOR INDIA UP
India was the top buyer of Russian seaborne crude after Moscow's 2022 Ukraine invasion, but in January its refiners started to reduce purchases, helping New Delhi avoid 25% tariffs imposed by Washington and clinch an interim trade deal.
2026, March, 3, 08:00:00
OIL PRICE: BRENT NEAR $80, WTI ABOVE $72
Brent were at $79.44 a barrel, up $1.70, WTI jumped $1.17, or 1.6%, to $72.40.
2026, March, 3, 07:55:00
ОПЕК+ РОССИЯ: ОСТОРОЖНЫЙ ПОДХОД
Страны продолжат внимательно следить за ситуацией. В рамках постоянных усилий по поддержке стабильности рынка они подтвердили важность осторожного подхода и сохранения гибкости для продолжения приостановки или отмены дополнительных добровольных корректировок добычи, включая ранее введённые добровольные корректировки в размере 2,2 млн баррелей в сутки, объявленные в ноябре 2023 года.
2026, March, 3, 07:50:00
OPEC + RUSSIA: CAUTIOUS APPROACH
The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation.
2026, February, 27, 07:50:00
INDIA WITHOUT RUSSIAN OIL
Millions of barrels of Russian oil stored on tankers at sea could still provide Indian refiners with a quick and cheap solution, provided they get the nod from New Delhi.