Energy Transition
Presumption? Hormuz, TOTALEnergies & Shell
Important note: last 24 hours we may see the beginning of a trend of weaker oil prices yet higher Treasury yields. This would be a major and concerning break of the trend of the last month of almost 1:1 postive correlation between oil prices and Treasury yields. The feeling of “something is going to break” indicator is getting to boiling point. But remember, a watched kettle never boils. ~ NFI: I did NOT get invited
Paul Sankey
September 29, 2026
10:07 AM
