Who We Are

Oil is down ~6% from Friday’s electronic close (on decentralized exchanges that trade 24/7) as traders pivot from ‘bombs away’ (ripped into electronic close on Friday) to ‘talks are back on,‘ after POTUS scrapped strikes…

In early May, we published our first look at implied petrol demand destruction via taking a closer look at consumer spending habits (Iran, Higher Oil and the Sequencing of Consumer Demand Destruction) by following the…

Love/Hate Portfolio 15 (LHP15) just closed out as the third-best performing iteration of the year, generating ~520bps over a notably volatile two-week window and bringing the series to ~30% YTD (see table below). Exact position…

Just when we thought we got away, natural gas comes and pulls us back in. With Henry Hub hovering near multi‑year lows, the real story isn’t about calling an exact price. It’s about the volatility…