Bob Elliott
· Nonconsensus
· August 30, 2026 at 22:06
| Read on Substack ↗
Summary
The administration's signal that it can deliver abundant oil supply, not the Bessent/Warsh personnel speculation, drove the biggest market move last week. If markets believe the supply commentary, crude faces near-term downside pressure even as Washington policy headlines dominate.
•The biggest market move last week was in oil, not in reaction to Bessent/Warsh personnel talk.
•Administration commentary claimed officials have found a way to deliver 'plenty of supply,' which triggered the oil market response.
•The article highlights that supply-side policy signals can move commodities more than political personnel headlines.