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 →
Brent
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We will never sell or share your information without your consent. See our privacy policy.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 →
India’s fuel subsidies are forcing domestic oil marketing companies to sell fuel below cost, costing three domestic retailers $76.6 million per day. “India imports more than 80% of the crude oil it requires, and with the rupee falling and crude prices rising, the cost of subsidized fuel is now threatening India’s efforts to rein in trade and… Keep reading →
Energy Quote of the Day: The Link Between Geopolitical Unrest and US E&P Capital Spending
By Conway IrwinInvestment 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 →
By Sri Jegarajah The risk of a disorderly decline in benchmark U.S. crude futures is growing after a four-week rally sent prices to 16-month highs and money managers amassed record bullish bets, defying an economic slowdown in China and the North American shale energy supply boom. WTI (West Texas Intermediate, the oil grade underpinning the U.S. crude futures… Keep reading →
Where are Oil Prices Headed on Syria News?
By Jared AndersonGlobal benchmark oil prices crept up to two-year highs over the past week or so as tensions in the Middle East and North Africa flare. US intervention in Syria currently awaits a congressional vote, so what will that decision likely mean for near-term price trajectory? It appears the geopolitical risk premium is mostly factored in… Keep reading →