The View from 5th Avenue

The View from 5th Avenue – 4 June 2024

Oil was the prominent focus once again today, extending yesterday’s weakness amid ongoing supply concerns stemming from Sunday’s OPEC+ meeting. Unhelpfully, heavyweight BP also saw an S&P rating cut and thus, oil majors such as Conoco (COP -1.4%), Schlumberger (SLB -1.5%) and Halliburton (HAL -2.5%) took part in sector-wide abuse. Putting the more volatile yet ever-relevant commodity aside though, investors seem to be teetering on the state of the economy with both bulls and bears on shaky grou…

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