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Tag Archives: oil price
Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives
Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives. Could rapidly falling oil prices trigger a nightmare scenario for the commodity derivatives market? The big Wall Street banks did not expect plunging home prices to cause a mortgage-backed securities implosion back in 2008, and their models did not anticipate a […]
Brent falls close to $69 after Saudi price cut | Reuters
Brent falls close to $69 after Saudi price cut | Reuters. (Reuters) – Brent crude fell close to $69 a barrel on Friday, putting it on track for a second weekly decline, as cuts to official selling prices from Saudi Arabia reverberated across the market. Some analysts said the Saudi cuts to monthly prices for crude it sells to […]
Global Drilling Slowdown On The Way
Global Drilling Slowdown On The Way. Baker Hughes rig count statistics show how drilling reacted to earlier falls in the oil price. There is always a time lag of months between an oil price event and a change in drilling. There are faint signs of US drilling starting to turn down and quite clear signs […]
Shale Liquidations Begin? Sub-$50 Oil Appears In North Dakota | Zero Hedge
Shale Liquidations Begin? Sub-$50 Oil Appears In North Dakota | Zero Hedge. When ISIS dared to steal and sell oil at below market rates, they were dire pirates that needed to be destroyed (and anyone who dared to buy it was pariah). So when, as Bloomberg reports, crude sold at the wellhead in the Bakken shale region in […]
Falling Oil Prices Could Cripple ‘Vulnerable’ Russia, Trigger World War III
Falling Oil Prices Could Cripple ‘Vulnerable’ Russia, Trigger World War III. The Cold War 2.0 is going hot, and while it may someday be fought with planes, tanks, guns and bombs, the first front is being fought with oil and shale gas. The U.S. and European sanctions against Russia will become more severe and crippling […]
Oil War Pushes Venezuela Over Brink, Probability of Default Soars to 84%
Oil War Pushes Venezuela Over Brink, Probability of Default Soars to 84% Fracking, Tar Sands, & OPEC Meet Decades of Mismanagement OPEC member Venezuela has one of the largest oil and natural gas proven reserves in the world. It’s the 12th largest producer in the world. It’s still one of the top suppliers of crude […]
Target Liberty: Gorbachev Accuses US of Stoking ‘New Cold War’
Target Liberty: Gorbachev Accuses US of Stoking ‘New Cold War’. Mikhail Gorbachev claims that American “triumphalism” is stoking a new Cold War and called for “avid militarists” to stop dragging Europe into conflict, reports the Telegraph. Gorbachev said there was still time to defuse the standoff between Moscow and the West, as he and his western counterparts had […]
charles hugh smith-The Oil-Drenched Black Swan, Part 3: Multiple Risks, Multiple Unknowns
charles hugh smith-The Oil-Drenched Black Swan, Part 3: Multiple Risks, Multiple Unknowns. It is these unforeseeable and uncontrollable consequences that are poised to wreak havoc on the global financial system. Here’s the thing about risk: it bursts out of whatever is deemed “safe.” It wasn’t accidental that the Global Financial Meltdown originated in home mortgages; it […]
Crude Slides After Saudis Suggest Oil Stabilizes Around $60 | Zero Hedge
Crude Slides After Saudis Suggest Oil Stabilizes Around $60 | Zero Hedge. Just when industry experts were eying zee stabilittee in oil prices in the last 12 hours, this happens… *SAUDI ARABIA SAID TO SEE OIL AROUND $60/BARREL: WSJ And crude oil prices begin to dip once again. As The Wall Street Journal reports, Oil […]
BBC News – Why is Saudi Arabia using oil as a weapon?
BBC News – Why is Saudi Arabia using oil as a weapon?. A recent meeting in Vienna, between the member states of Opec finally uncovered what the world had expected for months. Saudi Arabia is playing politics with oil, forcing Opec to maintain its current production levels at 30m barrels per day, to force down the […]
Brent Rebounds From $70 as Oil Rout Stutters After OPEC Inaction – Bloomberg
Brent Rebounds From $70 as Oil Rout Stutters After OPEC Inaction – Bloomberg. Brent crude rebounded from near $70 a barrel as the market rout prompted by OPEC’s failure to curb production falters. West Texas Intermediate rose for the second day in three. Futures advanced as much as 1.3 percent in London and 1.6 percent in New […]
Guess What Happened The Last Time The Price Of Oil Crashed Like This?…
Guess What Happened The Last Time The Price Of Oil Crashed Like This?…. There has only been one other time in history when the price of oil has crashed by more than 40 dollars in less than 6 months. The last time this happened was during the second half of 2008, and the beginning of that […]
And The Biggest Winner From The OPEC Price War Is… | Zero Hedge
And The Biggest Winner From The OPEC Price War Is… | Zero Hedge. “This is a golden time window to acquire more strategic oil at lower costs,” notes one Hong-Kong based analyst, as Bloomberg confirms what we have noted here and here, that China is emerging as the winner from OPEC’s battle with rival oil producers as the world’s biggest energy consumer […]
charles hugh smith-The Oil-Drenched Black Swan, Part 1
charles hugh smith-The Oil-Drenched Black Swan, Part 1. Given the presumed 17% expansion of the global economy since 2009, the tiny increases in production could not possibly flood the world in oil unless demand has cratered. The term Black Swan shows up in all sorts of discussions, but what does it actually mean? Though the term has roots […]
Cheap Oil A Boon For The Economy? Think Again – The Automatic Earth
Cheap Oil A Boon For The Economy? Think Again – The Automatic Earth. I thought it might be a nice idea to question a certain someone’s theories using their own words, while at the same time showing everybody what the dangers are from falling oil prices. There are many ‘experts and ‘analysts’ out there claiming […]
