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Tag Archives: crude oil
CN Rail Train Derails In Northern Ontario, Fire At Site
CN Rail Train Derails In Northern Ontario, Fire At Site GOGAMA, Ont. – CN Rail says a train carrying crude oil derailed early today in northern Ontario and there is a fire at the site. It’s the third CN derailment in northern Ontario is less than a month, and the second in the same area. […]
Crude Parallels
Crude Parallels The Great Recession was seven years ago so it might seem appropriate that our memories of the specific nature and order of events is lost to time. However, given that it will be a seminal event in history (hopefully not surpassed) there is less leeway to having such a short grasp on the […]
Petrodollar Mercantilism Explained In One Chart
Petrodollar Mercantilism Explained In One Chart Over the past several months, with the price of crude plummeting to half where it was compared to a year ago, we have written much about the monetary reality of the Petrodollar (and more importantly, its recent disappearance), the socioeconomic implications for oil/commodity exporters, the liquidity considerations for the […]
Could Oil Prices Plummet A Second Time?
Could Oil Prices Plummet A Second Time? Are oil prices heading for a double dip? The surge in shale production has produced a temporary glut in supplies causing oil prices to experience a massive bust. After tanking to a low of $44 per barrel in January, falling rig counts and enormous reductions in exploration budgets have fueled […]
How Much Crude Oil Do You Consume On A Daily Basis?
How Much Crude Oil Do You Consume On A Daily Basis? Oil. The commodity. We know what it’s worth – at least we thought we did – but what does a barrel of the black stuff get you in real life? Before we get theoretical, let’s first consider how much oil you use. If you’re in the […]
Oil And Debt: The BIS Examines The Consequences Of Financialization
Oil And Debt: The BIS Examines The Consequences Of Financialization Since mid-2014, after remaining relatively stable for four years at close to $100, the price of crude oil has dropped by roughly 50% in US dollar terms. 1 Changes in production and consumption seem to fall short of a fully satisfactory explanation of the abrupt collapse […]
Oil Plunges, Inventories Soar to Record, Glut Gets Worse
Oil Plunges, Inventories Soar to Record, Glut Gets Worse Crude oil had rallied 20% in three days, with West Texas Intermediate jumping $9 a barrel since Friday morning, from $44.51 a barrel to $53.56 at its peak on Tuesday. “Bull market” was what we read Tuesday night. The trigger had been the Baker Hughes report […]
This Week In Energy: The War For Market Share Is Only Just Beginning
This Week In Energy: The War For Market Share Is Only Just Beginning This week saw yet more bad news for the oil sector, as the EIA’s latest figures released on Wednesday showed U.S. Inventories at levels not seen since 1982, when the agency first started collecting such data. To put it another way, the last […]
Why the Hysteria Over Oil Prices Is Overblown
Why the Hysteria Over Oil Prices Is Overblown Wild stormy weather stops us in our tracks. Factories close. Offices are abandoned. School is cancelled. After the rush to stock up, stores are shuttered. And when the storm hits, it’s all we can think about — especially if the power goes out. It can seem like […]
Either Crude or Copper
Either Crude or Copper The primacy of the monetary pyramid in 2015 is not really about money as it is all ideology. If you believe that monetary policy provides “stimulus” then you immediately remove all thoughts of any economic decline during times when monetarism is most active. Since “it works” then all else must fall […]
Crude oil falls to lowest price in five years
Crude oil falls to lowest price in five years Crude oil prices have fallen below $50 per barrel for the first time since 2009, hit by OPEC’s production stance, oversupply, weak demand and the strong dollar. European Brent oil dived to $49.81 a barrel on Wednesday, a 5-year-low. New York crude had already slumped under […]
Energy Sector Outlook for 2015
Energy Sector Outlook for 2015 It appears that crude oil prices are starting to stabilize. At least they’ve started to decline slower. Most of the “experts” who send me their price forecasts have the low being set in the $45 to $55 range. This week we will see the first major winter storm of the […]
Oil resumes slide after brief rebound on short-covering | Reuters
Oil resumes slide after brief rebound on short-covering | Reuters. (Reuters) – Global crude prices fell again on Thursday, a day after a short-covering rally, as traders placed new bets that the market would resume a six-month rout on worries about a supply glut. Benchmark Brent and U.S. crude each fell more than $1 a barrel to session […]
Great Unwind of Oil-and-Gas Junk Bonds to Defund Fracking? | Wolf Street
Great Unwind of Oil-and-Gas Junk Bonds to Defund Fracking? | Wolf Street. The price of oil plunged once again off the chart on Monday and early Tuesday. At one point, West Texas Intermediate traded below $54 per barrel, though it soon bounced off. Crude is down nearly 50% since June. And over-indebted energy companies with cash flows that range […]
Norway Central Bank, Slammed By Oil Plunge, Warns Of “Severe Downturn”, Unexpectedly Cuts Rates | Zero Hedge
Norway Central Bank, Slammed By Oil Plunge, Warns Of “Severe Downturn”, Unexpectedly Cuts Rates | Zero Hedge. The governor of Norway’s central bank says western Europe’s biggest oil producer is facing a major economic slowdown as crude prices continue to plunge. As Bloomberg reports, Oeystein Olsen said today in an interview after a press conference in Oslo, “our […]
