In today’s briefing:
- EU Replacement Tire Market Shows Mixed Trend Amid Import Pressures
- HEM: Better Never Than Late
- The Egg-Price-Bubble Has Busted!
- Asia base oils demand outlook: Week of 2 June
- [US Nat Gas Options Weekly 2025/22] Henry Hub Rebounds on Hotter Summer Forecasts and Falling Output
- Revisiting 2025 Investment Calls
- [US Crude Oil Options Weekly 2025/22] WTI Slips on Oversupply Fears, Shrugs Off U.S. Inventory Draw
- Egypt, June 2nd 2025,
EU Replacement Tire Market Shows Mixed Trend Amid Import Pressures
- Q1 2025 sees 14% YoY surge in all-season consumer tire sales
- Truck and bus tire sales volumes in Q1 2025 fall 4% YoY
- Imports of PCLT tires grow by 12% YoY in Jan-Feb 2025
HEM: Better Never Than Late
- Companies are adapting to fluctuating trade policies while maintaining strong activity and tight labour markets.
- Despite these positive trends, underlying price and wage inflation remains high.
- While markets anticipate future cuts, the potential for rate hikes in 2026 is often overlooked.
The Egg-Price-Bubble Has Busted!
- YTD our absolute return strategy is up 10,6% The Egg-Price-Bubble Has Busted!
- The price of a dozen eggs in the US has crashed from $8 to $2,5 within five months – highlighting extraordinary volatility in the egg market.
- For context: The rise of egg prices can be primarily contributed to the ongoing avian influenza (HPAI) outbreak that began in 2022.
Asia base oils demand outlook: Week of 2 June
- Asia’s base oils demand could soften as weakening supply-demand fundamentals incentivize buyers to maintain lower stocks.
- Seasonal slowdown in lube consumption set to coincide with pick-up in supply following restart of growing number of plants after maintenance work.
- Weaker demand in markets like Japan frees up more surplus volumes for export, adding to supply.
[US Nat Gas Options Weekly 2025/22] Henry Hub Rebounds on Hotter Summer Forecasts and Falling Output
- For the week ending 30/May, U.S. natural gas prices gained 3.4% on the back of forecasts of a hotter-than-expected summer and tightening supplies.
- For the week ending 23/May, the EIA reported that U.S. natural gas inventories rose by 101 Bcf, moderately higher than analyst expectations of a 98 Bcf build.
- Henry Hub OI PCR fell to 0.86 on 30/May compared to 0.89 on 23/May. Call OI decreased by 12.7% WoW, while put OI dropped by 16.1%.
Revisiting 2025 Investment Calls
- Recommendations remain unchanged. The forecast has always been for increased market volatility and a weak 1H , followed by a pick-up in economic momentum in 2H.
- Business cycle fundamentals continue to show no signs of a full-blown recession or a sustained resurgence in inflation.
- 1Q25 earnings data confirm the corporate profit cycle remains in upswing across the US, Europe, Japan, India, Taiwan and Indonesia. China is the outlier.
[US Crude Oil Options Weekly 2025/22] WTI Slips on Oversupply Fears, Shrugs Off U.S. Inventory Draw
- WTI futures fell by 1.2% for the week ending 30/May as concerns over OPEC+ supply hike overshadowed the surprise fall in U.S. crude inventories.
- The U.S. rig count fell by three to 563. The oil rig count fell by four to 461, while gas rigs grew by one to 99.
- WTI OI PCR inched up to 0.83 on 30/May compared to 0.82 on 23/May. Call OI rose by 4.9% WoW, while put OI grew by 5.9%.
Egypt, June 2nd 2025,
- So far, Trump hasn’t criticized Israel too much, he just wants to see if they could stop that whole situation as quickly as possible.
- The US still supplies Israel and US Homeland Security Secretary Kristi Noem (and her makeup crew) visited PM Netanyahu in support.
- European countries who have recently criticized Israel and suspended trade talks or else have been branded antisemite by Bibi and accused of emboldening Hamas.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
