Crude and iron ore break below $40
The recovery in both iron ore and crude oil prices will take a pickup in economic growth from China and I don’t see evidence of that in the next six months or longer.
Bad news for oil prices: OPEC raises its official production target
The Saudis not only didn’t even hint at any give in their determination to keep producing at much oil as OPEC could, but they actually led a successful effort to raise official production quotas
OPEC meets on Friday–nothing is likely to actually happen but the language for describing “nothing” will be important
Saudi Arabia faces serious opposition to its policy of refusing to cut production in order to prop up oil prices at Friday’s meeting of the Organization of Petroleum Exporting Countries
Will mild selling on downing of Russian warplane by Turkey escalate?
Financial markets in the United States and Europe fell modestly as traders wait to see what happens next after Turkish fighters shot down a Russian war plane near the Turkish-Syrian border.
A vague Saudi promise to work to stabilize oil prices is enough to set off volatility in an oil market dominated by bears
So many traders are short oil that anything that might somehow support oil prices leads to short covering and a bounce, short-lived in this case, in oil prices.
Hard to believe but the commodities slump is getting deeper
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OPEC holds the line on production–more oil price pain ahead
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...Oil drops further as OPEC increases production in July
On Tuesday, August 11, West Texas Intermediate fell 4.2% on news that OPEC producers had increased output by 100,000 barrels a day. That’s the highest production since June 2012
Saudis decide to borrow rather than cut production (in order to force up prices)
A decision to sell bonds means that the Saudi’s have lots and lots of money to use in pursuing a strategy focused on defending market share. If you were thinking that we might see the end of oil price bust by the close of the year and that supply and demand were headed into balance in early 2016, I think you need to revise your thinking. The oil price plunge just got longer and deeper
Saturday Night Quarterback says, For the week ahead expect…
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...Saturday Night Quarterback says, For the week ahead expect…
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...West Texas crude enters a bear market again
Energy analysts surveyed by Bloomberg had expected that U.S. inventories of crude oil would fall by 2.2 million barrels in the week ended July 17. Instead, according to figures released yesterday by the U.S. Energy Information Administration, crude inventories increased by 2.47 million barrels
