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Javier Blas, energy and commodities columnist, journalist, author at Bloomberg, observes that as oil prices stay below $100 per barrel and inflation remains under control, especially in the U.S., macro traders have less incentive to purchase oil futures for hedging purposes.
Blas points out that reduced buying activity from these traders could make it harder for oil prices to increase.
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Javier Blas has previously reported on sector leadership changes, including Nick O’Kane’s departure from Mercuria after two years. In commodity markets, Blas highlighted a recent decline in iron ore prices to a two-year low amid excess supply and subdued Chinese demand. These developments add further context to current trading patterns in energy and raw materials.