Energy News Roundup: Is Oil Over?

on August 05, 2013 at 8:30 AM

Australian Petrol Prices On The Rise

“Peak oil” is a term that’s been bandied about for decades, but almost always in reference to supply, not demand. The Economist is calling oil “yesterday’s fuel”. “The world’s thirst for oil could be nearing a peak. That is bad news for producers, excellent for everyone else.” [Economist]

There’s a nice (and very thorough) piece in the FT about the mechanics of oil price assessments, and what might happen if European Commission proposals for stricter regulation are enacted. “According to price reporters, the availability of oil prices itself is now at stake.” [FT]

A recent report from analysts at Deutsche Bank warns that a confluence of factors could prompt a sharp drop in oil prices, which would put negative pressure on the US stock market. “’A major pullback in oil prices could have a concentrated effect on the S&P energy and industrials sectors, with perhaps further sentiment knock-on effects.’” Some of the potential drivers are intriguing, such as Iran negotiating an end to sanctions affecting its oil sector, which could add significant supply to the market. [Business Insider]