Something for your Espresso: USD liquidity and fuel demand
The weekly EIA numbers keep surprising with extremely strong energy demand, while USD liquidity is about to soar further. Interesting cocktail, which is not necessarily disinflationary in the US in 2024.
Morning from Europe!
This will be the final “Something for your Espresso” of 2023. Our best wishes for the year ahead to all of you!
The weekly EIA numbers once again explode to the upside. The data showed a new all-time-high in the Gasoline demand in Week 51 (in SA terms) and the actual congestion (roads, air and sea) is up almost 15% versus a year ago.
Where is the weak demand that everybody blames for lower energy prices?
Chart 1: A new all time high in the gasoline demand?
The weekly EIA numbers keep surprising with extremely strong energy demand, while USD liquidity is about to soar further. Interesting cocktail, which is not necessarily disinflationary in the US in 2024.
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