Commodities: Global   OPEC Oil Output Fell Slightly in April per Reuters reflecting lower exports from Iran, Iraq and Nigeria.  Output fell by 0.1 million barrels per day (mbpd) from March to a total 26.5 mbpd.  OPEC+ agreed to maintain their 2.2 mbpd output cuts through June.  The Saudis also…

Ukraine-Russia War: Grinding Away and US Double-Talk   The Ukraine-Russia Conflict held with grinding incremental territorial losses by Ukraine in the east.  Russia pressed with its weight in numbers with casualties estimated at three times those suffered by Ukraine.  Strategically, Ukraine continued to attack Russian oil refineries, fuel storage facilities…

During the month of April, Livestock (+4.03%) and Metals (+4.02%) were the top performers. The bottom performers were Crypto (-16.08%) and Indices (-4.96%). Investor fear is at its 2024 peak, causing the CBOE Volatility Index (VIX) to rise above 20 for the first time since October 2023. Later this afternoon…

Commodities: Global   OPEC Oil Output Fell last month per Reuters, reflecting lower exports from Iraq and Nigeria.  OPEC produced 26.4 million barrels per day (mbpd) in March, down fractionally from February.  Iraq lowered output as they had promised after overproducing in prior months but have to do more to…