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Tag Archives: oil price
Oil Tumbles On Report Saudis Agree To Partial Ceasefire With Yemen
Oil Tumbles On Report Saudis Agree To Partial Ceasefire With Yemen With the price of oil still on edge over the duration of Saudi Aramco repairs and speculation over how long until Saudi oil output is fully restored, moments ago Brent tumbled after a WSJ report that Saudi Arabia – which is hoping to come […]
Oil Set To Spike After Report Saudi Repairs At Abqaiq May Take “Up To Eight Months”
Oil Set To Spike After Report Saudi Repairs At Abqaiq May Take “Up To Eight Months” While S&P futures may spike at the open following Saturday’s news from the NYT that the “the delegation of Chinese agriculture officials that had planned to travel to Montana and Nebraska in the coming week didn’t cancel the trip […]
Energy Expert Warns Oil Shocks Hit The Economy With Incredible Speed, Usually Within Thirty Days
Energy Expert Warns Oil Shocks Hit The Economy With Incredible Speed, Usually Within Thirty Days The lasting damage from the weekend’s attacks on Saudi oil infrastructure is yet to be fully assessed. Having said that, we can make some broad statements about supply outages and economic cycles. Although we tend to forget it, almost all […]
Oil Explodes 20% Higher, Biggest Jump On Record
Oil Explodes 20% Higher, Biggest Jump On Record With traders in a state of near-frenzy, with a subset of fintwit scrambling (and failing) to calculate what the limit move in oil would be (hint: there is none for Brent), moments ago brent reopened for trading in the aftermath of Saturday’s attack on the “world’s most […]
Russia Considers Possibility Of $25 Oil Next Year
Russia Considers Possibility Of $25 Oil Next Year Russia is considering the notion that oil prices may be as low as $25 per barrel in 2020, the country’s central bank said in its new forecast published on Monday, as cited by Reuters. Russia’s Central Bank has forecast in its macroeconomic forecast that oil could possibly hit […]
“A Murderer’s Row”: Oil And Gas Bankruptcies To Accelerate As $137 Billion Debt Matures Over Next Two Years
“A Murderer’s Row”: Oil And Gas Bankruptcies To Accelerate As $137 Billion Debt Matures Over Next Two Years Oil and gas companies are facing an onslaught of bankruptcies as the “shale revolution” appears to be coming to an unceremonious end, at least on Wall Street, according to the Wall Street Journal. Companies like Sanchez Energy Corp., Halcon Resources […]
Possible Currency War Would Be A Disaster For Oil
Possible Currency War Would Be A Disaster For Oil Oil prices plunged on Friday after the U.S. and China both announced tariff hikes in tit-for-tat fashion. At the same time, markets opened on a positive note early Monday after President Trump struck a more conciliatory tone. But the respite could be brief. Global financial markets are completely at the […]
Debunking ‘Lower Oil Supply Will Raise Prices’
Debunking ‘Lower Oil Supply Will Raise Prices’ We often hear the statement, “When oil supply is lower, oil prices will rise because of scarcity.” Now, we are getting to see firsthand whether oil prices really do rise, as oil supplies become more scarce. Figure 1 shows that world oil supply hit a peak in November 2018 […]
Persian Gulf Conflict Could Send Oil Beyond $325
Persian Gulf Conflict Could Send Oil Beyond $325+ The possibility of Iran attempting to close the Strait of Hormuz to tanker traffic has increased significantly in recent weeks, as has the possibility of a Persian Gulf War, especially with the Islamic Republics’ intentional destruction of a U.S. surveillance drone on June 20. This act provides weight to […]
TROUBLE AT THE BAKKEN: Oil Production Finally Peaking?
TROUBLE AT THE BAKKEN: Oil Production Finally Peaking? Is the mighty Bakken Shale Oil Field finally peaking? Well, according to the data from the folks at the North Dakota Department of Mineral Resources, oil production in the Bakken has been flat for the past six months. And, to make matters worse, production has been flat […]
Two Events That Will Determine Oil Prices
Two Events That Will Determine Oil Prices Two big events over the next two weeks will determine the trajectory for oil prices in the second half of the year. One of those events will take place in Japan, the other in Austria. U.S. President Donald Trump will meet Chinese President Xi Jingping on the sidelines […]
Escalating Trade War Signals More Pain For Oil
Escalating Trade War Signals More Pain For Oil Trump backed off his proposed trade war with Mexico in the face of intense pressure from business groups and even his own party, but his faith in tariffs remains unbowed. In fact, Trump may have internalized a lesson that presents further risks to the global economy and […]
The Biggest Losers In The Shale Slowdown
The Biggest Losers In The Shale Slowdown Schlumberger saw its debt rating downgraded by S&P due to the unfolding slowdown in drilling by U.S. shale companies. The largest oilfield service company in the world has seen its earnings hit as the shale industry goes through a soft patch. S&P cut Schlumberger’s debt rating to A+, […]
‘High’ Oil Prices Are Already Dampening Demand
‘High’ Oil Prices Are Already Dampening Demand Crude oil prices are affecting demand for the commodity negatively, the International Energy Agency’s head Fatih Birol told S&P Global Platts in an interview. “The higher oil price environment may, if they stay around this level, also have an impact…put some downward pressure under demand growth,” Birol said. The […]
Sharp Rise In Rig Count Pressures Oil Prices
Sharp Rise In Rig Count Pressures Oil Prices The the number of active oil and gas rigs rose by 19 after two weeks of big losses in the United States this week according to Baker Hughes, in a sign that US production is still set for increases. The total number of active oil and gas […]
