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Brent crude rises above $120 a barrel as UK fuel prices hit record highs
Brent crude rises above $120 a barrel as UK fuel prices hit record highs Price increases on global oil markets and at UK forecourts add to concerns about rising inflation and its impact Diesel prices in the UK hit a record 182.7p a litre on Saturday, taking the cost of filling up a 55-litre diesel […]
Assume Crash Positions: Goldman Cuts Brent Price Target To $30 “With Possible Dips Near $20”
Assume Crash Positions: Goldman Cuts Brent Price Target To $30 “With Possible Dips Near $20” When we discussed Saudi Arabia’s shocking decision on Saturday to reverse on years of prudent oil policy following Friday’s stunning collapse of OPEC+, with the kingdom now set to obliterate the OPEC cartel by flooding the market with heavily discounted oil in […]
Saudis Urge More Than 1 Million Bpd Oil Cut To Prop Up Prices, Russia Opposes
Saudis Urge More Than 1 Million Bpd Oil Cut To Prop Up Prices, Russia Opposes Update (0800ET): The Wall Street Journal reports that Russia opposes the Saudi plan to deepen OPEC+ cuts by 1.2mm b/d. Developing… * * * As we detailed earlier, Brent crude futures were up 75 cents, or 1.45%, at 52.61 a […]
Emerging Markets Slammed By Soaring Oil Prices
Emerging Markets Slammed By Soaring Oil Prices US consumers may be cursing rising gasoline prices which are rapidly approaching an average of $3.00 across the nation as Brent hits a new 4 year high above $84, but that is nothing compared to the horror that motorists across most emerging markets are facing. With currencies across […]
Oil Jumps Above $80 For The First Time Since Nov. 2014
Oil Jumps Above $80 For The First Time Since Nov. 2014 Two weeks after Saudi Arabia said it was targeting $80/bbl oil, this morning Riyadh got its wishes early when Brent hit the Saudi target, jumping as much as 1% to $80.18, following the latest drop in U.S. crude inventories and as traders continued to […]
Oil Plunges To $28 Cycle Lows As Iran Supply Looms, Stocks Slide
Oil Plunges To $28 Cycle Lows As Iran Supply Looms, Stocks Slide February WTI Crude futures have plunged to new cycle lows at $28.60 (down 2.7%) as Iran supply looms over an already over-glutted global crude market. Brent is down even more (-3.7%). Dow futures are down 60 points at the open. *WTI OIL FALLS AS MUCH AS […]
Why We May Never See $100-a-Barrel Oil Again
Why We May Never See $100-a-Barrel Oil Again ‘Race for What’s Left’ author surveys geopolitical fortunes in aftermath of a pricequake. Pricequake: Recent turmoil could spell doom — not just for ‘tough oil’ projects now underway — but for some over-extended companies (and governments) that own them. Oil barrel photo via Shutterstock. As 2015 drew […]
Oil Plunges To Lowest Since March 2009 ($43 WTI) As EURUSD 1.05 Battle Continues
Oil Plunges To Lowest Since March 2009 ($43 WTI) As EURUSD 1.05 Battle Continues Update: *WTI CRUDE TRADES AT LOWEST INTRADAY PRICE SINCE MARCH 2009 – $43.57 Despite ‘trouble’ in Saudi Arabia, and chatter of SPR buying, it appears the re-opening of all Houston shipping channels, comments from Greenspan, yet another refinery shut (Exxon’s Joliet […]
This Week In Energy: ExxonMobil On The Hunt
This Week In Energy: ExxonMobil On The Hunt Oil prices continued to pick up steam for the week ending on February 13. Brent crude traded above $60 per barrel for the first time in 2015, a psychological threshold that caught the markets by surprise and points to a potential price rebound quicker than many had […]
And On The Seventh Day God Shorted His People – The Automatic Earth
And On The Seventh Day God Shorted His People – The Automatic Earth. And on the Seventh Day, God sold his shares? What do you think, is He short the market? Short oil? Oil does look up a tad, but then the dollar lost about a percent vs the euro, so that definitely feels like […]
Oil Slumps to Five-Year Low as OPEC Decision Spurs Forecast Cuts – Bloomberg
Oil Slumps to Five-Year Low as OPEC Decision Spurs Forecast Cuts – Bloomberg. Brent crude slumped to a new five-year low as OPEC’s decision last month to maintain output at a time of oversupply prompted a growing number of banks to cut price forecasts. West Texas Intermediate also slumped. Futures dropped as much as 2.5 percent in London […]
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 […]
Oil Prices Collapse After OPEC Keeps Oil Production Unchanged – Live Conference Feed | Zero Hedge
Oil Prices Collapse After OPEC Keeps Oil Production Unchanged – Live Conference Feed | Zero Hedge. But, but, but… all the clever talking heads said they wil have to cut… *OPEC KEEPS OIL PRODUCTION TARGET UNCHANGED AT 30M B/D: DELEGATE WTI ($70 handle) and Brent Crude (under $75 for first time sicne Sept 2010) are […]
Oil Tumbles to 4-Year Low Before OPEC, Pulling Down Krone – Bloomberg
Oil Tumbles to 4-Year Low Before OPEC, Pulling Down Krone – Bloomberg. Oil slid to a four-year low amid speculation OPEC will refrain from cutting output at today’s meeting, dragging down shares of energy companies, Gulf-region stocks, and the Norwegian krone. Government bonds rose, with yields in Europe falling to record lows. West Texas Intermediate crude tumbled 2.1 percent […]
