Premium"Sell The News" Or $120: Goldman Traders Lay Out The Two Ways The Oil War Premium Ends
On paper, Thursday was earnings day in Europe, and a solid one at that. In practice, nobody cared.
"Paralysis was the word of the day yesterday," according to the head of Goldman's EMEA cash trading desk, as Brent spiked to $112/bbl while the geopolitical backdrop went from bad to unrecognizable. This morning it got worse: per Goldman's Ece Kepekci, writing in today's "IR Kick-Start: Europe extends move lower, Brent hits 114$/b, Cybersecurity" (available to pro subs), Brent hit $117/b with Houthi attacks threatening Saudi energy infrastructure, putting crude on track for a gain of about $7 per barrel this week.