brent crude

This tag is associated with 15 posts

Doha Meeting Reveals OPEC’s Inability To Control Global Oil Prices

By Ante Batovic The recent Doha meeting of major oil producers failed to agree oil output freeze deal and confirmed the existence of deep disagreements within Opec. The oil prices agony continues as major oil producers failed to reach an agreement on production freeze at the long-expected meeting in Doha on April 17. The expectations … Continue reading

Speculators Cut Bearish Bets On Oil

Crude prices have rebounded 50 percent since February. At the same time, since the beginning of February the US Commodity Futures Trading Commission (CFTC) has seen the biggest liquidation of short positions on record. Short positions on US benchmark WTI crude, or in other words, bets that prices will go down, have fallen by 131,617 contracts, … Continue reading

Only One Oil Fundamental Factor

By Jeffrey P. Snider, Alhambra Investment Partners The fundamentals for crude oil continue to be atrocious. Production remains relatively stable if slightly reduced, which is about the only factor in favor of oil prices since the February 11 low. On the other side of the ledger, you don’t hear as much about how it’s all oil … Continue reading

Credit Suisse: Oil Producers Are Not Buying Into This Rally

“In a note today, Credit Suisse explains that the shrinking spread between spot Brent crude and further-out delivery dates isn’t a bullish sign,” Seeking Alpha reports. Since January, the spread between spot Brent prices and 2020 Brent prices has dropped nearly $8.00 to $10.71 per barrel, indicating selling in 2017, 2018, and 2019 futures contracts. … Continue reading

Goldman Sachs Expects Oil To Trade Between $25 And $45 Per Barrel In Q2 2016: Admits Prices Could Fall Sharply In Coming Weeks

The crude market may be starting to rebalance as US production declines and output disruption from non-OPEC countries could potentially slash global oversupply, according to the Goldman Sachs Group. Storage constraints and a still large oversupply in coming months will continue to keep prices in a trendless and volatile range, the Goldman report said. The … Continue reading

Ruble Outperforms Emerging Economies On Rising Oil

Resurging crude prices have helped the Russian ruble become the best performing emerging markets currency this year. Since its January 21 historic low against the dollar at 85.6, and 93 to the euro, the ruble has gained over 20 percent on major currencies. With Brent crude hovering around $41 per barrel on Thursday, the Russian … Continue reading

Brent Crude Crashes To April 2004 Low Following China Market Crash, Devaluation

Brent crude prices came crashing down on Thursday, falling over 4 percent to the lowest level seen since April 2004, following a rocky session in Asia after China accelerated the pace of the devaluation of its currency which drove its markets into a tailspin as shares plunged over 7 percent and triggered circuit breakers to kick in and … Continue reading

Amid OPEC Price War, Saudi Arabia Slashes Oil Prices

Saudi Arabia has slashed prices on Sunday for its November oil sales to Asia and the U.S. as the largest crude exporter in the world looks to keep its prices competitive amid an OPEC (Organization of the Petroleum Exporting Countries) price war between rival Gulf suppliers. The move by Saudi Arabia comes as Iran, Iraq, and other Middle Eastern countries made … Continue reading

Oil Market Report: Highlights By International Energy Agency

Crude oil prices fell sharply during July and into early August, pressured by an abundance of supply and a strong US dollar. By early August, global benchmarks had sunk around 25% below end June levels. At the time of writing, ICE Brent was trading at around $49 /bbl while NYMEX WTI was at $43.30/bbl. Global oil … Continue reading

Gazprom Investment Stands, Even At $30 Oil Price

The plunging oil price that has lost more than 50 percent over the past year won’t damage Gazprom’s key investment projects including Turkish Stream and Power of Siberia gas pipelines, says the company’s financial director. “The company is in good financial shape despite of all the currency fluctuations and is ready to implement all of … Continue reading

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