Dear Subscriber,

Brent oil has declined to a 3-month low of $71.44pb in response to weak global demand and higher production from Saudi Arabia. US President Donald Trump is also said to be mulling a release of the US Strategic Petroleum Reserve to combat higher US gasoline prices.

The good news is that Royal Dutch Shell has lifted its force majeure on Nigeria’s Bonny Light crude. The resulting increase in production should offset the impact of lower oil prices on export revenues.

The attached bulletin addresses these and other issues in the domestic and global commodities market.

Enjoy your read!