In a complete reversal of recent primary trends in the market, oil was down and the banks were up. Crude actually fell under $130 for the first time in six weeks.
July 18th, 2008 | Dan Denning | 0 comments | ContinuedAll Posts Tagged With: "oil"
The Rising Price of Oil Has Done Less Damage in Europe Than in America
We filled up the car yesterday. The price of diesel fuel was 1.57 euros per liter. That works out to almost $10 a gallon…
July 10th, 2008 | Bill Bonner | 0 comments | Continued
Recessions Can be Short, Medium, Long, Mild, Medium or Severe
It is already clear that this is not going to be a short and mild recession, but we cannot yet be sure – for lack of evidence – whether it will be medium or long and severe. Of course, it will not take the same form in different countries. As in the California fire, some districts will largely be spared but others will suffer square miles of conflagration…
July 10th, 2008 | William Rees-Mogg | 0 comments | Continued
Top Ten Reasons Oil Prices Could Fall Twenty Percent
Thanks to you the DR Australia now has over 30,000 readers. It’s a diverse bunch, with readers from all over the planet, and a huge variety of practical experience and wisdom. We know that our own experience can only offer so much. Last week we asked what could make the oil price fall by 20%, our inbox was overflowing. Since it’s been such a dismal few weeks in the market, we came up with our own David Letterman-style top twenty list.
July 9th, 2008 | Dan Denning | 1 comment | Continued
Reader Mail: Oil, Energy, Growth, Future of the Planet and More
Dear Dan, Your answer (June 7) to the subscriber who questioned the need for rampant growth, is just appalling and quite mad.
July 9th, 2008 | The Daily Reckoning | 0 comments | Continued
All Ordinaries Reach 52 Week Low
It’s pretty bad out there. Before he left to have his Visa renewed in New Zealand, our technical analyst Gabriel told us to watch 5,050 on the All Ordinaries. We’re watching. The All Ords opened up and promptly fell two percent to 5,105. It’s a new 52-week low. What about that data yesterday on the housing market and retail sales? Retail sales rose by 0.7% in May. Apparently that was stronger than analysts expected. Should it surprise anyone?
July 3rd, 2008 | Dan Denning | 5 comments | Continued
Increased Oil Production Won’t Solve the Energy Crisis
If we try to solve the energy problem with increased oil production, we’ll just buy ourselves some more time. But eventually, demand will exceed supply, or prices will rise so high that an economy based on cheap energy will perish from the earth.
July 3rd, 2008 | Dan Denning | 5 comments | Continued
Gold and Oil are Acting as Though They Expect Higher Rates of Inflation
Based on the last few days’ trading results, Team Bernanke might as well have kept their mouths shut. Gold and oil are acting as though they expect higher rates of inflation…
July 3rd, 2008 | Bill Bonner | 2 comments | Continued
No Spike in Oil Price Following IEA “Third Oil Shock” Announcement
The International Energy Agency (IEA) gave the oil market a boost when it said supply would remain tight and that the world was in the middle of its third oil shock. Thanks for the newsflash IEA. The IEA announcement did not create a super spike in oil. This leads us to believe oil may be running out of gas, at least in the short-term. Event-driven price increases are almost all played out, barring an Israeli attack on Iran.
July 2nd, 2008 | Dan Denning | 2 comments | Continued
Is Oil the New Yahoo: Oil’s Run May Be Done
There’s nothing like a US$140 reality check to start your day. That’s what the oil price reached overnight in NYMEX trading. But before you go predicting US$200 by the end of the week for a barrel of crude, a quick story down the digital memory lane. You can make a good argument for higher oil prices based on how tight the supply chain is. But right now, the oil price is going up on just about any little rumour. The market has ceased to be rational about it.
June 27th, 2008 | Dan Denning | 6 comments | Continued