In our latest update, we cover various economic developments from UK to South Korea. Mark Rossano’s Insights delves deeper into the global economy and oil markets. Avik, in his brilliant analysis, discusses the fracking industries and talk about STEP Energy Services. It also contains the Market Sentiment Tracker which gives the reader a preview of the global economic sentiment.

1. Monday Macro View: From UK to South Korea – PREMIUM

The global economic landscape continues to be shaped by a myriad of factors, from fluctuating commodity prices to geopolitical tensions and varied regional economic performances. Recent data and market movements paint a complex picture, pockets of hope but still optimistic caution needs to be practiced.

2. Primary Vision Insights – ENTERPISE

There have been some pivots lower across the market as countries reduce their imports of crude. China saw a tick higher, but this is more a restocking after sluggish imports. We don’t expect this to remain above 11M as refiners remain well below seasonal averages. When we pivot to the broader market, crude oil products are getting close to taking out the seasonal five year high as crude levels stabilize. In the U.S., we are seeing more and more banks turning to the discount window- which is something done when you are concerned about counterparty risk.

Discover this and much more in the latest update by Mark Rossano!!!

3. STEP Energy Perspective in Q1: Key Takeaways – PREMIUM

In the US, the fracturing spread count was reduced to two in Q1 compared to three earlier. Despite that, improved operating efficiency and better cost management led to higher profitability. Given the US energy market’s volatility, STEP started transferring some fracturing equipment back to Canada a couple of quarters ago. What are some other important developments in this domain? Read this article to find out more!!!

4. Market Sentiment Tracker: Chinese Economy Feels Strong – PREMIUM

In the U.S., the May PPI Services index showed a year-over-year increase of 2.5%, falling short of the expected 3.0% and a previous revision of 2.7%. This indicates that inflation pressures are still present but not as intense as anticipated. On the international front, China’s exports exceeded $1.4 trillion, marking a 2.7% year-on-year increase. This growth underscores the country’s robust manufacturing and export capabilities.

This week’s Market Sentiment Tracker tracks all the latest developments in the two largest economies of the world!

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