In the midst of the news about the EU crisis, it’s worth pointing out that oil prices have quietly crept back over $100 a barrel. West Texas Intermediate is $102 as I write. Brent crude, which many argue is the more important figure, is $111. This is remarkable given how […]
[credit provider=”Wikimedia Commons” url=”http://en.wikipedia.org/wiki/File:John_William_Waterhouse_-_The_Crystal_Ball.JPGhttp://en.wikipedia.org/wiki/File:John_William_Waterhouse_-_The_Crystal_Ball.JPG”] Goldman Sachs Commodities Research is bullish on commodities for 2012.”Slow growth may help commodity markets balance in 2012,” wrote the analysts. Goldman’s economists currently forecast global GDP growth of 3.2% in 2012 and 4.1% in 2013.
[credit provider=”Milena Mihaylova via Flickr” url=”http://www.flickr.com/photos/minchki/2456765249/”] As equities post massive gains, precious metals are rallying alongside. February Gold contracts are up 1.9%, to $1745 per ounce.March copper added a tremendous 5.5%, to $3.56 per pound, while Silver is up 3.0% to $32.80 an ounce on the CME.
Crude oil futures for December delivery settled over the $99 per barrel mark on the NYMEX, reaching $99.84 per barrel at their highest.
The US oil industry is in a bit of a quandary. The Houston & Louisiana refining area is the largest in the world. It has just had tens of billions of dollars thrown at it, to prepare it to run heavy sour sources. These heavy sour grades are typically cheaper, […]
Gold futures rallied above $1,800 a troy ounce during intraday trading today. But prices quickly fell after it was reported that Italian PM Silvio Berlusconi would soon step down. Less than two months ago, gold had crossed below $1,550.
Here is something brewing off radar.
It was by teaching a course on energy in 2004 that I first became aware of the enormous challenges facing our society this century. In preparing for the course, I was initially convinced that I would identify a sensible and obvious path forward involving energy from solar, wind, nuclear, geothermal, […]
NYMEX Crude oil for December delivery is down 3.1% to $90.30 per barrel on account of uncertainty in the EU following reports of a Greek referendum and the strength of the U.S. dollar. It is, however, well-off its 52-week low of $76.15 per barrel.
Oil refiners and equipment suppliers led the S&P 500 higher as crude oil prices ascended above $87.
Light sweet crude oil for November delivery is up 2.65% to $86.46 a barrel, after closing at $84.45 a barrel yesterday.
Light sweet crude oil for November delivery is down 1.7% to $83.79 a barrel. This comes after the Energy Information Administration (EIA) reported an increase of 1.3 million barrels of crude inventories for the week ended Oct. 7, against expectations of a decline of 4.7 million barrels.
WTI light sweet crude oil for November delivery is up 3.3% to $85.70 per barrel. This is up from its low of about $76 per barrel last week, but off its 52-week high of $114.91.
There’s a new scandal involving Canada’s vast tar sands (via @TAI_news).
We set another record yesterday. This one has me scratching my head. The Brent WTI spread widened to $27.22. That’s never been seen before.
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/3718603485/”] When futures options for crude oil predict that prices will rise to $120/barrel by the end of the year, and industry analysts are looking at prices closer to $101/barrel, it’s tough to know whom to believe.The difference is important because a price of around $120 will snip […]
ICE just issued a $40,500 fine against Goldman for causing 6 spikes in the price of oil.
High grade crude for gulf delivery hit the highest price since the spring of 2008 this morning.
The ugly bear market in natural gas may be about to end, in our opinion. The nuclear crisis in Japan will force policymakers to look for alternative energy sources for electricity generation and natural gas is set up perfectly.
HedgeFundLIVE.com — Due to the unrest in the Middle East that threatens oil supply, crude has been rallying, breaking above $100 last week. Libya, the 12th largest exporter of oil in the world, the third largest producer in Africa, and the largest holder of crude oil reserves in Africa, has cut […]
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