Oil Heads Back To $30, And Probably Lower
Financial players are now bailing out of their bullish positions in oil markets. The US dollar’s recovery means they have no need for a “store of value”. They are leaving Continue Reading
U.S. Oil Prices Hit 3-Month Lows on Growing Oversupply Concerns
U.S. oil prices sank to a fresh three-month low Tuesday as a glut of gasoline keeps weighing on the market. U.S. oil for September delivery settled down 21 cents, or Continue Reading
Oil falls towards $44, lowest since May, on glut worries
Oil on Tuesday hit its lowest since May, falling towards $44 a barrel, pressured by concerns that a long-awaited rebalancing of the market would be delayed due to excess supply. Continue Reading
How Much Oil Is in Storage Globally?
The waterways surrounding this island nation have become home to one of the world’s biggest oil-storage sites. The problem: It is unclear how much oil is in the tankers anchored Continue Reading
Low Oil Prices Kill Off 7 Billion Barrels Of Oil Production
Offshore Oil Rig The Trent Capital expenditure cuts of $150 billion for 2016 and 2017 by U.S. exploration and production companies are expected to result in average production losses of Continue Reading
Renewed oil weakness sparks demand fears
U.S. oil prices topped $50 a barrel in June, boosting optimism a two-year price rout might end. Six weeks later, the long hoped for recovery has yet to take hold. Continue Reading
Oil Down on Bearish Outlook
U.S. oil fell to a three-month low as a summer glut coupled with fading demand keep pulling crude prices back from their strongest rally in years. U.S. oil for September Continue Reading
Oil prices dip on ongoing oversupply, economic headwinds
Oil prices held near two-month lows on Monday amid worries that a global crude and refined product glut would weigh on markets for some time to come. International Brent crude Continue Reading
Forget The Glut – This Is Why Oil Prices Will Rise
The rate of oil production decline in the United States will accelerate in the 3rd quarter. It has already started. Per the EIA: In the last six weeks: > U.S. Continue Reading
Faulty Data? Why The Oil Glut Could Be Much Smaller Than Believed
The oil price rally came to a quick end in June, topping $50 per barrel but quickly falling back again. Optimism stemming from the four-month rally has vanished, and since Continue Reading