Oil
The U.K. has chosen to leave the European Union (EU). The news caused major disruptions in the world’s stock market and currency markets. But let’s take a look at the Brexit’s impact on oil. Oil prices have been recovering since hitting their 13-year lows in the first quarter…
Saudi Arabia announced that it intends to wean itself off oil by selling a sliver of Saudi Arabian Oil Company (Aramco) and transforming the world’s largest company into an industrial conglomerate/juggernaut. But will investors even want to invest in a company that is an arm of the Saudi…
Oil Prices Could Hit $50 by the Summer Drivers could soon be paying more at the pump. At least that’s what analysts at Credit Suisse believe. According to the investment bank, oil prices could rally to as much as $50.00 a barrel by the end of May. Credit…
The recent surge in oil prices will not only pause but will also reverse course and tumble to as low as $25.00 a barrel. At least, that’s what oil expert John Kilduff predicted in an interview with CNBC on Monday. Kilduff based his oil price forecast on the…
Here’s Why Oil Prices Could Tumble This is a message for all those who are bullish on oil prices: be very careful. We could be headed for oil prices of $16.00 per barrel. Before going into any details, I want to make one thing very clear: I am…
This Could Send Oil Prices Soaring Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), supports freezing oil production increases. Last week, Saudi Arabia and Russia, along with other OPEC members, agreed not to raise oil output to stabilize prices. But, Libya would like to…
Little Upside for Oil Prices Don’t be fooled by the rally in oil prices. The underlying fundamentals for the oil sector remain bearish—unless you believe demand is suddenly going to surge and oil production will be drastically slashed around the world... I don’t like oil as an investment…
You would not know it from the mainstream media rhetoric, but the White House and the Kremlin agree that the collapse of the Syrian Arab Republic (al-Assad’s government) would plunge the whole region, including Israel, into chaos. And it’s the one key factor that could determine the future…
Russia, Saudi Arabia, Qatar, and Venezuela have agreed to freeze production. Will this finally help to support oil prices? Not yet. Skepticism abounds. Even if Saudi Arabia and Russia have agreed to freeze oil production, the markets had expected an actual cut in production. The current arrangement provides…
As we suggested a few weeks ago, an international agreement over Syria would help boost oil prices. This is an early effect of the agreement that U.S. Secretary of State John Kerry, his Russian counterpart Sergei Lavrov, and representatives from 17 countries signed in Munich. Oil prices opened…
Iran no longer has sanctions restraining its oil production and it is free to do business with Western countries. Iran also has the freedom to impose its conditions. Given that Europe has become its biggest trading partner, it comes as no surprise that it wants buyers to pay…
Get Ready for $50 Oil Prices: Analyst Could the slump in oil prices finally be over? The answer is yes, if you ask analysts at major financial institutions. In fact, they are saying oil prices could surge 50% by the end of this year. West Texas Intermediate (WTI)…
We’re getting close and closer to a bottom in oil prices. The price of crude oil is in a free-fall, trading at just over $33.00 per barrel during the last week of January. Most analysts have given up, calling for crude to fall as low as $10.00 by…
Oil prices are hovering near $30.00 per barrel, down 50% from last summer and down 80% from the summer of 2008. How low can oil go? No lower apparently. In fact, energy entrepreneur and perma-oil bull T. Boone Pickens, has called a bottom to oil. But is the…
More Downside for Oil Prices There was a fleeting rebound in oil prices, as tensions between Saudi Arabia and Iran briefly raised geopolitical risk in the oil-rich Persian Gulf. However, the markets seemed more than ready to absorb it. The oil price rebound, small as it was, has…
No Upside for Oil Prices Oil prices are caught in a death spiral with February’s West Texas Intermediate (WTI) oil landing at a 12-year low below $30.00 last week. Surprised? You shouldn’t be. Back in a November 2014 commentary on oil prices, when WTI crude was trading at…
Will This Spell the End of OPEC? The International Monetary Fund (IMF) fears that the increased oil supply resulting from the lifting of sanctions on Iran could put pressure on global oil prices, lowering these by anywhere from $5.00 to $15.00 a barrel. Although, the futures market may…
Has the Price of Oil Reached the Bottom of the Barrel Yet? Analysts’ opinions have not been unanimous on the matter, but the evidence suggests that oil prices will get lower before they reverse the bearish trend, according to the Bank of Montreal (BMO). (Source: “Oil May Drop…
While oil prices appear to have found some support, interrupting the chute that has seen the resource drop to below $36.00 per barrel, the pause may be temporary and just ahead of a new plunge. According to Goldman Sachs, the excess supply of oil may continue until the…
Oil Price Forecast: WTI Could Fall to $20 Global oil prices continue to defy all rationalization, as predictions fall flat on their face and both West Texas Intermediate (WTI) and Brent are displaying extreme volatility. Crude oil is now at its lowest price level in 11 years, but…
