U.S. markets reopened after Labor Day with Brent approaching 100 without a clean print above it in the Reuters question of the day. [1] Monday this paper had Brent in the nineties on a closed exchange. Tuesday the number still has a ceiling.
Reuters listed bypass routes, non-OPEC supply, and Chinese demand destruction as the reasons the war premium has not done the round number. [1] A question is not a forecast. A buffer is not peace.
Print the approach. Do not print a break that did not happen. Tuesday's named Reuters file is a question, not a close above 100. Leave a later clearing to the edition that owns a later clearing. Five hulls and a Jordan strike belong to a later clock if later copy names them. A buffer of bypass routes is not peace.
Print the approach. Tuesday is not a break above 100.
-- THEO KAPLAN, San Francisco