Markets resolve to consider much less favourable scenarios

In this episode of the weekly EnergyScan podcast about the Macro & Oil market, Olivier Gasnier tells us about the movements in market sentiment: spirits were very high last week after the Fed announced a diminution of rate hikes, but are back down now due to the publication of the high US job figures last week. Could this mean another round of monetary tightening? In Europe, there are indication of looming recession and yet the central banks are still pushing rate hikes higher and at the same rate. On the oil market, bullish trends pushed by fundamentals such as Russia cutting supply and Saudi Aramco raising its prices on the Asian market due to Chinese demand recovery.