All of a sudden it looks like global growth is trailing off raising more concerns about oil demand. Yesterday weak data out of China and warnings for the International Monetary fund about Asian economic growth, hit oil and industrial metals. Weak U.S. factory orders also raised worries once again that the U.S. economy may still […]Continue Reading →
Oil prices are falling on renewed fewer about Asian growth and talk of rising OPEC oil supply. Oil prices started to weaken after the China Caixin manufacturing PMI fell to 49.4 last month from then March reading of 49. That was the 14th consecutive month of contraction and it also fell short of market expectations. […]Continue Reading →
by MARITA NOON | Breitbart All of us loved less-than $2 a gallon at the pump. AAA reports: “Americans paid cheapest quarterly gas prices in 12 years”—which resulted in savings of nearly $10 billion compared to the same period last year. However, oil (and, therefore gasoline) has been creeping upward since the February low—topping $45 […]Continue Reading →
Crude oil ended the month of April with the strongest monthly gain in 7 years, adding 22% to the price. The low price caused “production destruction” and strong demand put the market on a trajectory of market balance. A study by Wood Mackenzie expects to see $91 billion in cap ex cuts across 121 upstream […]Continue Reading →
Oil prices continue to rise as the market prepares for another drop in the U.S. rig count and floods in the Gulf of Mexico could slow U.S. oil imports. This comes as Exxon Mobil and Chevron report earnings and no doubt more capital spending cuts in a historic retrenchment in the oil complex. Gulfport, Mississippi […]Continue Reading →
Oil prices surged again as U.S. oil production fell for the seventh week in a row and global central bankers seem a little more upbeat. With the Federal Reserve changing the wording removing “risks” from their statement and Japan’s central bank holding fire, the demand expectations have changed dramatically from just a few months ago […]Continue Reading →
By Christian Berthelsen and Georgi Kantchev U.S. oil prices set another 2016 high Wednesday, even after U.S. data revealed a jump in stored domestic crude stockpiles. Weekly data from the U.S. Energy Department showed an increase in stored supplies of nearly 2 million barrels. The U.S. contract dropped more than 2%, falling into negative territory […]Continue Reading →
Exxon Mobil saw its credit rating cut by S&P for the first time since the Great Depression and it is another sign that oil prices have bottomed. Exxon Mobil Corp. lost its AAA rating and saw it lowered to AA+. Even the biggest of “big oil” cannot escape the fallout from the global oil price […]Continue Reading →
By Christine Buurma Forecasts for fading heat in the eastern and central U.S. sent natural gas futures lower for a second day. Temperatures will be mostly average or below normal in the lower 48 states next week as hot weather in the South ebbs, curtailing gas consumption by electricity generators, according to Commodity Weather Group […]Continue Reading →
Oil prices are trying to stabilize as traders and oil companies try to predict when oil production will find equilibrium with demand. Here there is a wide degree of different thinking on this issue but I predict it will happen much sooner than people think. We’re faced with massive cap x cuts and plunging rig […]Continue Reading →
by Mark Shenk Oil fell from a five-month high in New York amid signs a global glut will be prolonged as Middle East producers boost supplies. Kuwait plans to expand oil production to more than 3 million barrels a day by June, doubling output from where it stood during last week’s oil-worker strike. Iran has increased output […]Continue Reading →
SubscribeReceive daily summaries of all Market Insights blog posts.
Enter email below.
Most Recent Posts