Oil Tumbles Amid Bad News For Glut As US Offshore To Hit Record In 2017

Monday, June 27, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Jun 27, 2016 WTI Crude has tumbled back to a $46 handle this morning (from over $50 on Friday) with Brexit volatility weighing on every asset class and Nigeria and Canada restart production (following rebel attacks and wildfires respectively) but as OilPrice.com’s Charles Kennedy notes companies pumping oil from the... »

Why Goldman Is No Longer Buying The Oil Bounce

Wednesday, June 15, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Jun 15, 2016 One month ago there was some confusion when Goldman released a report in which it cut its 2017 oil price forecast due to expectations of slower market rebalancing, while at the same time boosting it near-term crude price projections due to short-term supply disruptions. To be sure,... »

Core Producer Prices Surge Most Since Jan 2015, Gasoline Prices Soar

Wednesday, June 15, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Jun 15, 2016 While inflationary pressures remain relativel nascent, today’s Producer Price Index data for May suggests The Fed may face some more pressure soon. Final Demand rose 0.4% MoM, more than expected and the highest since May 2015. However, core PPI (ex food and energy) rose 1.2% YoY (higher... »

Whistleblower: EPA scientists paid off by oil and gas industry to conceal toxic fracking emissions

Tuesday, June 14, 2016
By Paul Martin

by: Isabelle Z. NaturalNews.com Tuesday, June 14, 2016 An explosive new federal complaint finally sheds some light on the great mystery of why exactly the EPA, which is tasked with protecting the environment, inexplicably sits back and allows the fracking industry to destroy the earth. According to the environmental watchdog group NC WARN based... »

Saudi Authorities Panic – Ban Speculation On Riyal Devaluation Amid Banking Crisis

Sunday, June 5, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Jun 4, 2016 With Saudi Riyal forwards plunging back above 3.81, dramatically weaker than the current peg, Bloomberg reports that Saudi authorities are cracking down on currency traders as speculation mounts that the world’s biggest oil exporter won’t be able to maintain the riyal’s peg to the dollar as revenue... »

Oil Industry Drove US Wage Growth. Now That Is Over

Friday, June 3, 2016
By Paul Martin

by Irina Slav via OilPrice.com, ZeroHedge.com 6/3/2016 A report from Pew Research Center reveals that between the third quarter of 2000 and the same period of last year, wages across the U.S. rose by 7.4 percent in real terms, driven largely by the oil and gas industry. Wages in energy-dependent communities rose by the... »

Oil Drops After OPEC Fails To Reach Oil Freeze Agreement

Thursday, June 2, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com 6/2/2016 The anticlimatic conclusion to today’s OPEC meeting came earlier courtesy of Bloomberg which moments ago reported that OPEC has failed to reach a new oil supply agreement, but that it has agreed to appoint a Nigerian candidate for new OPEC secretary general. OPEC HASN’T REACHED NEW OIL SUPPLY AGREEMENT:... »

Stunning Satellite Images Of The Global Tanker Oil Glut

Wednesday, June 1, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com 6/1/2016 Today, we’ll spare readers the ongoing analysis – which hasn’t changed – and instead present the following dramatic satellite images just released from Reuters, showing “huge traffic jams of tankers which have formed around the world with some 200 million barrels of oil either waiting to be loaded or... »

$50 Oil Doesn’t Work

Tuesday, May 31, 2016
By Paul Martin

by Gail Tverberg via Our Finite World blog, ZeroHedge.com 05/31/2016 $50 per barrel oil is clearly less impossible to live with than $30 per barrel oil, because most businesses cannot make a profit with $30 per barrel oil. But is $50 per barrel oil helpful? Gail Tverberg argues that it really is not. The... »

French Protests Shut Down 4 out of 5 Total Oil Refineries

Friday, May 27, 2016
By Paul Martin

SputnikNews.com 27.05.2016 Four out of the five oil refineries run by French energy firm Total remained shut down on Friday after a wave of industrial action swept the country this week, the company said in a statement. MOSCOW (Sputnik) – Total operates five of France’s eight refineries as well as nine fuel depots. The... »

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