Oil prices have bounced more than 150 percent off their December 2008 lows, despite the fact that inventory levels remain at historically high levels.
November 5th, 2009 | Evan Smith | 2 comments | ContinuedAll Posts Tagged With: "oil prices"
A Look at Strategic Oil Reserves – Who’s Buying Oil?
As the US strategic petroleum reserve (SPR) approaches capacity (721.5 million barrels filled out of a total possible 727 million, and will be filled by January 2010), the federal government will fade out of the oil-buying business.
October 1st, 2009 | Marin Katusa | 0 comments | Continued
U.S. Dollar Index Showing All Sorts of Weakness
The U.S. dollar taketh…and the U.S. dollar giveth away. That’s one way of looking at the flurry of activity in markets right now. The Aussie dollar is at a ten-month high. Oil is up 75% since January, with crude trading at $74/barrel. Copper is at a ten-month high. The S&P 500 has cracked 1,000 again.
August 4th, 2009 | Dan Denning | 5 comments | Continued
China is the World’s Largest Exporter to the Middle East
The economic crisis has only intensified the trend. It’s no wonder. The Middle East’s imports from China are still growing, albeit in low single-digit figures, even as the United States imports from China collapse at near twenty percent rates relative to last year’s levels.
July 30th, 2009 | Ben Simpfendorfer | 0 comments | Continued
OPEC Agrees Not to Cut Oil Production Until it Meets in May
OPEC agreed not to cut oil production again until it meets later in May. That’s a bit misleading, though. OPEC said it wouldn’t cut production even though global oil inventories are high. But the friendly cartel members admitted they still haven’t cut production down to the levels they agreed on with the previous cut. Thus the nature of the cartel. It’s in everyone’s interest to cheat just a little bit by over-producing to make more money…
March 16th, 2009 | Dan Denning | 0 comments | Continued
Peak Oil: What’s Next
The Peak Oil story was never about running out of oil. It was about the collapse of complex systems in a world economy faced by the prospect of no further oil-fueled growth. It was something of a shock to many that the first complex system to fail would be banking, but the process is obvious: no more growth means no more ability to pay interest on credit… end of story, as Tony Soprano used to say.
March 6th, 2009 | James Howard Kunstler | 4 comments | Continued
Oil Contango Narrows
Hey what’s this? Oil prices were up nearly 9% in New York, or about US$3.73 a barrel to $45 a barrel. OPEC production cuts and inventory reductions have brought global supply more into line with global demand (which is dramatically reduced owning to the world financial calamity).
March 5th, 2009 | Dan Denning | 4 comments | Continued
The Swift and Violent Rise of Oil
If you want to know why oil prices could double this year, or how $52 trillion in total global debt will utterly suffocate central bank attempts to resuscitate bank lending, or Ben Bernanke’s secret plan to turn trillions of dollars worth of toxic assets into shareholder equity, read on! Two topics in one day! Why are oil prices lying? How much air is left in the credit bubble?…
January 20th, 2009 | Dan Denning | 10 comments | Continued
Oil Prices Fall 77%
You’d also think that the 77% fall in oil prices from their all-time high would be unmitigated good news for consumers and the economy…
December 22nd, 2008 | Dan Denning | 0 comments | Continued
A ‘Bloodbath’ on Wall Street
With Halloween just around the corner, it is fitting that today’s headline on CNN.com was “Stocks Headed for a Bloodbath.” Not exactly what you want to see first thing in the morning, but at least it doesn’t keep you guessing.
October 27th, 2008 | Kate Incontrera | 1 comment | Continued