Amid all the uproar over the US’s surprising oil production growth of the last few years, some oil market watchers may have inflated expectations of just how well-supplied the market is. US onshore oil supply growth has helped to boost global oil market supply, helping to insulate prices from the impact of disruptions, such as… Keep reading →
While next year’s oil prices may be lower than this year’s, a sharp downturn in prices is not in the cards in 2014, according to Barclays analysts. “The oil market is in the midst of a turning point for fundamentals,” wrote Barclays analysts in a note to clients today. Non-Opec supply growth will exceed global… Keep reading →
By Jackie DeAngelis It’s getting cheaper for Americans to fill their tanks and heat their homes, but analysts warn that consumers are unlikely to show signs of an economic windfall. The national average for a gallon of regular gasoline now runs $3.31, down 13 cents in a month and lower by 28 cents from the… Keep reading →
The exact circumstances surrounding the kidnapping – and subsequent release – of Libyan Prime Minister Ali Zeidan by an anti-crime unit in Tripoli last night aren’t totally clear. But as short-lived as the event proved to be, it had a big impact on oil markets. “The oil market was reminded overnight that the geopolitical risk… Keep reading →
Investment bank Raymond James has updated its US oil and natural gas liquids production forecast, with new estimates suggesting that the country could produce enough oil to satisfy domestic demand in less than ten years’ time. “The U.S. could easily be approaching the ‘holy grail’ of net oil ‘energy independence’ toward the end of the… Keep reading →
An article published Saturday in the International Business Times points out two important links in the oil trading business: the link between a US credit downgrade or debt default and the value of the US dollar, and the link between the value of the US dollar and the price of a barrel of oil. “A… Keep reading →
“There has rarely been a more compelling time to invest in energy,” said Barclays analysts in their latest Global Energy Outlook, released this morning. Here are four key takeaways: Oil price risk has swung from downside to upside, thanks to geopolitical risk. Geopolitical risk has supplanted US production growth as the big global story in… Keep reading →
Investment bank Simmons & Co is forecasting a tightening of the spread between the price of US crude benchmark West Texas Intermediate and global benchmark Brent over the course of the next year, lifted by a robust pace of infrastructure development that can for efficiently move domestically produced oil to market. And with production challenges… Keep reading →
By: Katy Barnato Oil prices have rebounded since the overthrow of Egypt’s President Morsi last month, but analysts dispute whether Middle Eastern turmoil is the real factor behind the rally, and how much further the commodity will rise — if at all. (Read more: Scenes from the turmoil in Egypt) Unrest in the country has rattled investors’ nerves and raised… Keep reading →
The price of West Texas Intermediate crude had risen for five consecutive days as of yesterday afternoon – “the longest stretch of gains since April” – on news of escalating unrest in Egypt, as Brent hit a four-month high. A police crackdown on protests in Egypt has left more than 500 dead. [Bloomberg] Iran has… Keep reading →
