Commodities: Global OPEC Oil Output Fell by 840 million barrels per day (mbpd) in July from June per Reuters survey, mostly due to the Saudi cuts and to a lesser degree due to an export terminal problem in Nigeria. Total OPEC production was 27.34 MMBPD, which is the lowest…
Ukraine: Summer Offensive? The Ukraine-Russia Conflict continued with its on-the-ground stalemate with the Ukrainian military making little progress despite the infusion of US/EU equipment. By necessity to avoid higher casualty rates, the attack tempo slowed – recall that Ukraine has one-third the population of Russia and its soldiers (and…
“Don’t put your eggs in one basket” is a common phrase opined to investors. Quickly followed by the mantra of “diversify, diversify, diversify.” The same principle can also apply to commodity trading advisors as it pertains to their assets under management (not the markets they trade). Having a diversified group…
During the month of July, the S&P GSCI (+9.80%) and Energies (+9.18.%) were the top performers. The bottom performers were Crypto (-4.02%) and Grains (-3.78%). Despite the fed raising interest rates in July, the S&P GSCI (+9.80%) produced one of its best months since January of 2022. The S&P 500…