"Disciplined Systematic Global Macro Views" focuses on current economic and finance issues, changes in market structure and the hedge fund industry as well as how to be a better decision-maker in the global macro investment space.
Thursday, June 23, 2011
IEA releases stockpile - why?
Emergency in the oil market for only third time in the IEA history since 1974. The first occasion as the Gulf war in 1991 . the second occasion was hurricane Katrina. Now this! Oil prices for WTI has fallen from $115 down to $93/barrel. Brent has fallen from $120 in late May to $114 yesterday. It seems odd that the release comes now when the prices have been falling and economic growth has been faltering. Oil prices have been a drag on the global economy, but this does seem odd as a measure of emergency.
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