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Tag Archives: oil price collapse
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 […]
How $40 oil would impact Canada’s provinces
How $40 oil would impact Canada’s provinces What does Canada’s economy look like with oil prices at $40 a barrel? Certainly it won’t be the energy superpower envisioned by Prime Minister Stephen Harper. If $40 a barrel still seems a ways off, consider that the benchmark price for oil sands crude is already trading in […]
Oil slides below $48, dragging TSX down another 120 points
Oil slides below $48, dragging TSX down another 120 points The price of a barrel of oil continued its slide on Tuesday, losing almost $2 to trade below $48 US a barrel. The crude drop dragged energy stocks on the TSX lower too. The S&P/TSX Composite Index lost another 140 points to trade at 14,252, […]
Consumer Companies Issue Most Negative Guidance Ever, Despite Lower Gasoline Prices
Consumer Companies Issue Most Negative Guidance Ever, Despite Lower Gasoline Prices But the oil-price crash was supposed to goose consumer spending. The price of oil continues to crash relentlessly. WTI trades at $49.80 as I’m writing this on Monday after hours, down 5.5% for the day, and down 54% since June 2014. The oil-price plunge is eating […]
Canada Heavy Oil Drops Below $35 As Rig Count Hits Record Low For January
Canada Heavy Oil Drops Below $35 As Rig Count Hits Record Low For January Think Texas and Pennsylvania have a problem with plunging oil prices, don’t look North. West Canada Select (Heavy) crude oil prices have collapsed to below $35 per barrel (the lowest since Feb 2009). This is a 60% plunge in the last 6 […]
Oilfield Writedowns Loom as Crude Slump Guts Drilling Values
Oilfield Writedowns Loom as Crude Slump Guts Drilling Values Tumbling crude prices will trigger a flood of oilfield writedowns starting this month after industry returns slumped to a 16-year low, calling into question half a decade of exploration. With crude prices down more than 50 percent from their 2014 peak, fields as far-flung as Kazakhstan […]
Euro plummets as global oil prices collapse
Euro plummets as global oil prices collapse The euro has plunged to a nine-year low against the dollar on worries that a victory in Greece by the far-left Syriza party in the January 25 election will result in the country’s departure from the European Union. The EU currency’s value, which dived on Monday to $1.1864, a […]
TSX closes down 360 points as oil trades below $50 a barrel
TSX closes down 360 points as oil trades below $50 a barrel The Canadian dollar was lower Monday, dragged below the 85 cent US level because of continuing weakness in the price of oil, which dropped below $50 US a barrel for the first time since 2009. The plunging oil price hammered the Toronto Stock […]
This Oil Thing Is The Real Deal
This Oil Thing Is The Real Deal Well! WTI below $50 and Brent below $53 when I start writing this. Who knows where they’ll be by the time I’m finished?! The euro down below $1.20, US stocks flirting with -2%, major European ones off -3%, Italy and Greece over -5%. Welcome to the real world, […]
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 […]
A Stick in the Stocking: Santa’s Supply Shock
A Stick in the Stocking: Santa’s Supply Shock It’s déjà vu all over again: another oil “supply shock.” Seems like we’ve had one every few weeks for the past few months. Santa stuck another one in the Christmas stocking, and by New Year’s Eve crude oil prices fell to Great Recession levels. Frankly, though, an oil […]
The Real Cause Of Low Oil Prices: Interview With Arthur Berman
The Real Cause Of Low Oil Prices: Interview With Arthur Berman With all the conspiracy theories surrounding OPEC’s November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. […]
US Rig Count Continues To Plunge To 10-Month Lows
US Rig Count Continues To Plunge To 10-Month Lows Just as T.Boone Pickens warned, watching the US Rig Count is key to comprehending the looming crisis in oil. The last 4 weeks alone have seen a drop of over 100 rigs – the 2nd fastest slide since 2001 in percentage terms. This is the worst December to […]
Top Five Factors Affecting Oil Prices In 2015
Top Five Factors Affecting Oil Prices In 2015 As we ring in the New Year, let’s take stock of where we are at with the oil markets. 2014 proved to be a momentous one for the oil markets, having seen prices cut in half in just six months. The big question is what oil prices […]
Jeff Gundlach: “If Oil Drops To $40 The Geopolitical Consequences Could Be Terrifying”
Jeff Gundlach: “If Oil Drops To $40 The Geopolitical Consequences Could Be Terrifying” In a recent interview with FuW, DoubleLine’s Jeff Gundlach explained his concerns about the oil market not being “unequivocally good” for everyone… Question: The crash in the oil market is already causing jitters in the financial markets around the globe. What is […]
