WATCH the video on YouTube by clicking the RED button above. LISTEN to audio only via the Substack player by clicking the GREY button above. STREAM audio only on Apple Podcasts, Spotify, or your favorite podcast player app. DOWNLOAD a pdf of the slide deck by clicking the blue Download button below. This week we continue the theme of normalization. The 2020-2023 period of “urgent energy transition,” “peak oil and gas demand,” and ESG hysteria we think is fading. It is being replaced with what we would call “normal” supply/demand/price volatility concerns. The biggest issue right now facing oil markets has been uncertainty on the outlook for China in particular. Going back to the super-cycle days of 20 years ago, we have long looked at copper markets to provide insights into China, given China is over 50% of copper demand. A noticeable gap has opened between weak crude oil prices and more resilient copper. Historically, the gap has closed with crude following the direction of copper. We shall see if history repeats. 🔔 4 Ways to Subscribe * All Content: If you subscribe to Super-Spiked via email, you will receive all content to your inbox and it is also all on the Super-Spiked website . I have been aiming to publish about once a week, usually on Saturday. Subscribe to Super-Spiked to receive all content via email and directly interact with me. Also available at https://veriten.com. * Veriten : You can now also subscribe to Super-Spiked content via the Veriten website ( here ) and also receive Veriten’s flagship COBT video podcast. * YouTube channel for video only: You can subscribe directly to the video feed of Super-Spiked Videopods on my YouTube channel Super-Spiked by Arjun Murti . * Apple Podcasts, Spotify for audio only. You can subscribe directly to the audio only feed on Apple Podcasts , Spotify or your favorite podcast player app. The podcast is simply the audio for the YouTube videos. ⚖️Disclaimer I certify that these are my personal, strongly held views at the time of this post. My views are my own and not attributable to any affiliation, past or present. This is not an investment newsletter and there is no financial advice explicitly or implicitly provided here. My views can and will change in the future as warranted by updated analyses and developments. Some of my comments are made in jest for entertainment purposes; I sincerely mean no offense to anyone that takes issue. 📜 Credits * Intro & Outro music: Wolf Hoffman: Concerto for 2 Cellos in G Minor, Rv 531: I. Allegro Moderato . * This episode of Super-Spiked Videopods was edited and produced by Veriten Productions. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit arjunmurti.substack.com
