Oil

Saudis Slash Oil Prices For Asian Markets; So Much For Solving That Banking Liquidity Crisis

Monday, August 1, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Aug 1, 2016 Shortly after we spoke yesterday about the banking liquidity crisis in Saudi Arabia caused by the “Saudi circ ref” (low oil prices -> budget deficits -> more oil pumping -> even lower oil prices), almost on cue, the state-owned Saudi Aramco, the worlds largest oil exporter, announced... »

Blood Continues To Flow In The U.S. Oil Industry As Precious Metals Rally

Sunday, July 31, 2016
By Paul Martin

By: Steve St. Angelo, SRSrocco Report GoldSeek.com Sunday, 31 July 2016 The top three U.S. oil companies released their financials today and the results were completely horrible. Exxon Mobil was the only one of the three that still made a profit for the first half of the year, however it was down a stunning... »

Oil Industry About To Be Burned Again By Fall In Oil Prices

Friday, July 29, 2016
By Paul Martin

By Arthur Berman OilPrice.com Jul 27, 2016 The current oil-price rally is over. U.S. rig counts have surged as oil prices sink. Capital is driving the oil markets and it enables bad behavior by producers. That is why oil prices will stay low. The oil-price rally that began in February is over. Prices rose... »

ExxonMobil Tumbles To 2-Month Lows After Earnings Miss Worst Analyst Expectation

Friday, July 29, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Jul 29, 2016 But, but, but the dividend yield, the oil recovery? ExxonMobil is down almost 3% in the pre-market to 2-month lows as it misses earnings expectations drastically (+41c vs 64c exp.. below the lowest expectation of +55c). Production levels also missed expectations as it appears the oil glut... »

Oil Industry About To Be Burned Again By Fall In Oil Prices

Thursday, July 28, 2016
By Paul Martin

by Arthur Berman via OilPrice.com, ZeroHedge.com Jul 28, 2016 The current oil-price rally led many to believe that a full price recovery was underway. But inventories have been too large for that to happen short of epic supply interruptions. U.S. rig counts have surged as oil prices sink. Capital is driving the oil markets... »

Oil Crashes To $41 Handle After Surprise Inventory Build, Production Rise

Wednesday, July 27, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Jul 27, 2016 Despite last night’s API-reported surge in Cushing inventories, oil futures surged into this morning’s DOE data on the heels of terrible durable goods data. However, a shocking build in overall crude levels (+1.67mm vs -2mm) breaking crude’s record 9-week streak of draws, sent crude prices reeling to... »

Something Dark Emerges from the Tar Pits and Oil Sands, Destroying Crude Oil Price Rally

Tuesday, July 26, 2016
By Paul Martin

By David Haggith TheGreatRecession.info July 26, 2016 The crude oil price rally has been completely crushed, though I’ll admit I was wrong when I predicted crude oil prices would plummet in March or April as the perfect storm developed against oil prices. Instead, they rallied. In spite of that, I continued to believe my... »

Crude Carnage Continues: WTI Hits $42 Handle On Inventories, Dollar

Tuesday, July 26, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Jul 26, 2016 With WTI now down over 17% from its mid-June highs, and energy stocks just beginning to wake up to the 2015-analog collapse, fears are rising that once again low oil prices are not ‘unequivocally good’ for stocks or the economy. Between record speculative long positioning in futures,... »

It Starts: First Mega-Foreclosure Hits Houston Office Market

Saturday, July 23, 2016
By Paul Martin

by Wolf Richter WolfStreet.com July 22, 2016 A nasty quarter at the epicenter of the Great American Oil Bust. Greenspoint Place, a 1.5-million-square-foot, six-building office and retail complex on 36 acres, whose occupancy plunged below 40% when Exxon Mobil moved to its new campus, was sold at a foreclosure auction on July 5. It... »

WTI Tumbles To $43 Handle – 3-Month-Lows – As Gasoline Glut Deepens

Friday, July 22, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Jul 22, 2016 Mainstream media is beginning to catch on to what we detailed first in February, the gasoline glut is about to bite back. Sept 16 WTI has tumbled from over $51 a month ago to a $43 handle today, tracking last year’s pump-and-dump of hope perfectly. The Rest…HERE... »

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