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Tag Archives: oil price
Oil tumbles as Iran nuclear deal looms
Oil tumbles as Iran nuclear deal looms An offshore oil platform is seen in Huntington Beach, California September 28, 2014. REUTERS/LUCY NICHOLSON Oil prices tumbled on Monday as Iran and six world powers closed in on a nuclear deal that would end sanctions on the Islamic Republic and let more Iranian oil on to world […]
Oil Price Plunge Raises Fears for Indebted Shale Companies
Oil Price Plunge Raises Fears for Indebted Shale Companies The latest fall in oil prices is once again putting pressure on indebted shale companies. After falling from over $100 per barrel down to $43 per barrel at its lowest point in March of this year, WTI prices rebounded with a 40 percent rise, trading for more or […]
OPEC Still Holds All The Cards In Oil Price Game
OPEC Still Holds All The Cards In Oil Price Game Traders were busy throwing in the towel on oil futures this week just as the first solid data and hope appeared that oil prices may be starting on the long road to recovery. As oil prices approached $52 per barrel on Tuesday, July 7, the […]
What Greece, Cyprus, and Puerto Rico Have in Common
What Greece, Cyprus, and Puerto Rico Have in Common We all know one thing that Greece, Cyprus, and Puerto Rico have in common–severe financial problems. There is something else that they have in common–a high proportion of their energy use is from oil. Figure 1 shows the ratio of oil use to energy use for selected […]
Midweek Sector Update: Oil Prices Crash Again – Another Downturn Ahead?
Midweek Sector Update: Oil Prices Crash Again – Another Downturn Ahead? We had warned over the past few weeks that there was an outside chance that the Greek crisis would infect oil markets, and over the weekend Greek voters ensured that it did. With an overwhelming “no” vote, just about every corner of Greece voted against Europe’s […]
Indiana Jones, Beyoncé, And Saudi Oil Production
Indiana Jones, Beyoncé, And Saudi Oil Production Thirty-four years ago today, Indiana Jones was the number one movie at the box office with ‘Raiders of The Lost Ark.’ 1981 was also the year in which Beyoncé was born. These two reference points are just to highlight how long ago 1981 was (even if a swashbuckling […]
Bearish News For Oil Growing By The Day
Bearish News For Oil Growing By The Day Oil hit its lowest point in two months on July 1, falling on a combination of market turmoil and bearish oil figures. WTI dipped below $57 and Brent dropped to around $62 per barrel, breaking out of a narrow range within which the two benchmarks have been […]
Current Oil Price Slump Far From Over
Current Oil Price Slump Far From Over The oil price collapse of 2014-2015 began one year ago this month (Figure 1). The world crossed a boundary in which prices are not only lower now but will probably remain lower for some time. It represents a phase change like when water turns into ice: the composition […]
How Greece Crisis Could Drag Oil Prices Down
How Greece Crisis Could Drag Oil Prices Down The Greek tragedy is reaching its climax. The discussions between Greece and its European creditors broke down over the weekend, with the two sides still at an impasse. Greek Prime Minister Alexis Tsipras balked at deeper austerity cuts to the Greek economy, cuts that are a prerequisite […]
Systemic Turmoil, Structural Reform
Systemic Turmoil, Structural Reform “The problem with the post-2007 world is that we are not in a cyclical recovery; we are in a structural depression defined as a sustained period of below-trend growth with no end in sight. The U.S. has caught the Japanese disease. Structural depressions are not amenable to monetary solutions, they […]
Gas prices ‘way beyond’ where oil rebound should have them: BMO
Gas prices ‘way beyond’ where oil rebound should have them: BMO It’s not just you: Gas prices are much higher than they should be, energy experts say Gas prices are up by more than a third since the start of the year, a figure much higher than one would expect based on the slight rebound in […]
Delayed gratification for OPEC, more pain for investors
Delayed gratification for OPEC, more pain for investors Delayed gratification is said to be a sign of maturity. By that standard OPEC at age 55 demonstrated its maturity this week as it left oil production quotas for its members unchanged. It did so in the face of oil prices that are about 40 percent lower than they […]
Price Manipulation In The Oil Markets?
Price Manipulation In The Oil Markets? According to Reuters, Arcadia Petroleum Ltd, and its Parnon Energy unit have settled a $16.5 million civil suit filed against them for manipulating futures prices. This comes after a prior settlement with the US Commodities Futures Trading Commission whereby both entities were banned for trading futures for three years. […]
OPEC oil glut is shattering Harper’s superpower dream
OPEC oil glut is shattering Harper’s superpower dream Producers’ brinksmanship has worked, and Canada is cutting production In the battle to see who blinks first, OPEC hasn’t blinked. And it looks like it isn’t going to, as it meets this week in Vienna. Six months ago the Organization of the Petroleum Exporting Countries, led by Saudi Arabia, […]
Asian Financial Sector Hit Hard By Low Oil Prices
Asian Financial Sector Hit Hard By Low Oil Prices Cheap oil can often be a double edged sword. On the one hand, it has been beneficial for the emerging global economies of India and China, who seized the opportunity to expand their strategic petroleum reserves (SPR), while on the other hand, it has created an […]
