Gulf Intelligence Podcasts PODCAST: Daily Energy Markets - June 12th
Jun 12, 2025
Guests Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, Kate Dourian, contributing editor with expertise in Middle Eastern energy, and Osama Rizvi, an energy and economic analyst, dive into the factors driving oil prices towards $70. They discuss the geopolitical tensions between the U.S. and Iran, trade agreements with China, and seasonal demand trends. The trio examines OPEC's supply dynamics amidst market tightening and poses critical questions about the future of global energy markets enriched by shifting economic landscapes.
AI Snips
Chapters
Transcript
Episode notes
Crude Oil Bear Market Bounce
- Crude oil prices are experiencing a bear market bounce, nearing the 200-day moving average around $72.
- This trend is part of a macro cycle where supply incentives and demand cuts lead prices toward a low price cure.
Geopolitical Tensions Tighten Market
- Iran-US military rhetoric strongly impacts oil prices due to market tightness despite OPEC+ increases.
- Regional conflicts and sanctions raise genuine market concerns beyond mere political talk.
Geopolitics Temporarily Support Oil
- Geopolitical flashpoints provide temporary oil price support despite fundamental bearishness.
- Global inventories and supply-demand discrepancies signal a generally bearish oil market outlook.