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Originally published March 8 The kingdom has triggered a price war in oil markets. The tactic has worked before, but there are multiple challenges. By abandoning the swing producer model and being seen as triggering a price war in the energy markets, Saudi Arabia is resorting to a game p...
The American Petroleum Institute reportedly shows a draw of 421K barrels of oil for the week ended March 13, breaking a string of seven straight weekly increases. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Long Crud...
Crude oil marks another finish at four-year lows , and analysts say more declines may follow as the coronavirus hurts demand and Saudi Arabia and Russia battle for market share. More news on: The United States Oil ETF, LP, Noble Energy, Inc., SM Energy Company, Energy stocks news, Commo...
Ultimately, any commodity market is managed by supply and demand balance, and not by emotions of its participants. And, from this point of view, I would like to assess the perspective of the oil market after the epochal 178 th OPEC meeting. So, the OPEC+ deal is dead, at least for now. Russ...
This article will tackle the big, really new news. Saudi Arabia announced that it will increase oil production from 9.7 million barrels a day to 10 million and then to 12 million if needed. This news alone sent the oil price down 20% - and the whole stock market with it. We understand the ma...
Crude oil prices (NYSEARCA: USO ) plummet below $30/bbl , heading for another four-year low amid expectations of a worsening glut due to the coronavirus and the Saudi-Russia price war; April WTI -8.2 to $29.11/bbl, May Brent -11% to $30.13/bbl after piercing below $30/bbl a short while ...
Brent crude oil popped nearly 6% after the Fed slashed its Fed Funds rate to 0.0%-0.25% and launched a new $700B QE program, but the gain quickly evaporated, with futures now -5.3% to $32.06/bbl; WTI -4.8% to $30.19/bbl. More news on: The United States Oil ETF, LP, Energy Select Sect...
As forecast last week, the spread of COVID-19 has generated severe financial market volatility, which was substantially worsened by the breakdown in production discipline within the global energy market, reflecting the stand-off between Russia and Saudi Arabia. This has triggered further sev...
By Rob Waldner, Chief Strategist and Head of Macro Research, Invesco Fixed Income A fundamentals-driven correction that may take some time to resolve. Macro impact The spread of the coronavirus globally has continued unabated in recent weeks. The combination of "business as usual" ...
Co-produced with author The Value Portfolio Arguably one of the wildest months in oil history, it's hard to imagine that less than a month ago oil prices were almost $55 / barrel Brent, and that less than a year ago, they were approaching $70 / barrel Brent. That drop in stock prices h...