Oil prices fall on rising fears of supply growth
Oil prices hit a two-month low today. As of 4 p.m. West Texas Intermediate was trading at $44.49 a barrel, down 2.05% on the day, and Brent benchmark crude was at $46.07, down 1.48%. The driver for the retreat in prices was worry over increasing supply.
What’s the upside/downside for U.S. oil shale plays? The Continental Resources scenario
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Trick or trend: The oil market is afraid of any price over $50 a barrel
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Dollar continues to drop, gives oil prices respite
The U.S. dollar is down for the third straight day and that has given oil prices a chance to recover after six straight declines. The dollar, as measured against the basket of currencies in the Bloomberg Dollar Spot Index, was down 0.42% today, as of 1:30 p.m. New York time Oil, on the other hand, has rallied today with the U.S. benchmark West Texas Intermediate up 2.75% to $47.48 a barrel
Goldilocks has a bit of an anxiety attack ahead of the weekend
What had been up earlier this week was down today. U.S. stocks retreated with the Standard & Poor’s 500 stock index down 0.90% to move back below 2100 again. Emerging market stocks fell too with the iShares MSCI Emerging Markets ETF dropping 2.53%. Oil tumbled with U.S. benchmark West Texas Intermediate crude down 3.14% to $48.97 a barrel, below the closely watched $50 a barrel marker
For today a drop in crude inventories out weighs another OPEC policy failure
This morning the U.S. Energy Information Administration reported that U.S. crude inventories fell by 1.37 million barrels for the week ended May 27. That was less than the 2.5 million barrel decline projected by energy analysts surveyed by Bloomberg. But at least the move was in the right direction–downward
Oil prices hit 6-month high on temporary supply outages–will this rally run to $55?
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Today’s commodities rally is no more a long-term trend than the weekend’s commodity weakness
Today, May 10, evidence of “firming” inflation in China led to a rally in industrial metals such as copper and other commodities; which is a complete turnaround from the weekend when a larger than expected decline in Chinese exports and imports led to Monday weakness in commodity prices.
Higher oil prices kill OPEC/Russia production freeze talks
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Yesterday’s soft U.S. economic growth drives dollar and stocks down, commodities up
After yesterday’s weaker than expected report on GDP growth, the Fed Funds futures market is giving odds of just 12% on a June interest rate increase. The odds of a June rate increase had been 21% after the Fed’s Wednesday meeting
Saturday Night Quarterback (with an update on Sunday’s currency moves) says, For the week ahead expect…
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