Oil

China Commodity Carnage Spills Over To US Markets – Crude, Copper Clubbed

Monday, May 9, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com 05/09/2016 WTI Crude prices have puked back all the “yay we have a new Saudi Oil Minister” algo-buying gains and even with just modest strength in the USD Index, the bloodbath overnight in Chinese commodity markets appears to be spilling over. Gold and Silver are also being punished as commodity... »

BofA Says It’s Time To Sell WTI Crude With A Price Target As Low As $35; Here’s Why

Monday, May 9, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com 05/09/2016 To Bank of America the relentless surge higher on algo-momentum driven buying has proven too much, and the bank’s strategist Paul Ciana has come out with a new trading recommendation as follows: “Sell WTI Crude Oil: Sell crude oil into event driven stress at $45.75, stop at $48.25. Target... »

Saudi Arabia Losing Oil Crown in Asia to Russia and Iran

Sunday, May 8, 2016
By Paul Martin

SputnikNews.com 08.05.2016 Amid the dismissal of Saudi oil minister Ali Naimi, Saudi Arabia is losing its crown of top crude supplier to Asia, mostly being outperformed by Russia and Iran. “Stiffening competition from countries such as Russia and Iran is threatening Saudi Arabia’s longtime hold over markets including China, Japan and India,” says the... »

De-Dollarization Accelerates As Russia Nears Launch Of Ruble-Priced Oil Trading Platform

Saturday, May 7, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com 05/07/2016 It appears Russia is close to taking the next big step towards de-dollarization and killing the petro-dollar as Vladimir Putin’s “dream” of ruble-based pricing of its domestically-produced oil is on the verge of realization. SPIMEX (The St. Petersburg International Mercantile Exchange) is actively courting international oil traders to join... »

Oil Shocker: Saudi Arabia Fires Powerful Oil Minister al-Naimi In Dramatic Power Reshuffle

Saturday, May 7, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com 05/07/2016 For oil watchers Doha was not so much about OPEC oil production, but about a huge power move that had just taken place in Saudi Arabia, as a result of which al-Naimi had become irrelevant overnight. The FT confirmed as much:“the episode has left Ali al Naimi, the kingdom’s... »

The World’s Largest Shipping Company Is Already Preparing For The Next Oil Crash

Thursday, May 5, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com 05/05/2016 It is the risk that the current 60% rebound in oil prices from 2016 lows is just another temporary bounce, that has forced Maersk to start preparing for the next oil crash. The company’s CEO is confident that since the world keeps producing more petroleum than it can consume,... »

Running on Empty? Why Riyadh’s Economy is in ‘Dire Financial Straits’

Thursday, May 5, 2016
By Paul Martin

SputnikNews.com 05.05.2016 Riyadh is in dire financial straits and there is no guarantee that the Gulf kingdom will be able to overcome the current difficulties; Deputy Crown Prince Mohammed bin Salman’s prognosis that Saudi Arabia’s economy will be diversified away from hydrocarbons by 2020 is nothing less than wishful thinking, Paul Cochrane wrote. Clouds... »

The Fallout From The “Devastating” Canadian Wildfire: Over 500,000 Barrels Offline, $1 Billion In Losses

Thursday, May 5, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com 05/05/2016 Now that Canada has had a chance to evaluate the damage from the historic Alberta fire, the question on everyone’s lips is what will be the near-term impact on oil production. The most comprehensive answer provided so far comes from Morgan Stanley’s Benny Wong who estimates that the total... »

Iran threaten to close the Strait of Hormuz to the US and its allies if they ‘threaten’ the Islamic Republic

Wednesday, May 4, 2016
By Paul Martin

The Strait of Hormuz is a pinchpoint at the end of the Persian Gulf A third of ALL oil carried by sea globally passes through the strait Iran’s Supreme Leader criticised US activities in the gulf earlier this week CHRIS SUMMERS DailyMail.com 4 May 2016 Iran has threatened to close the vital Strait of... »

Houston Office Market Melts Down

Tuesday, May 3, 2016
By Paul Martin

by Wolf Richter WolfStreet.com May 2, 2016 Leasing activity plunges, availability & sublease space balloon Office leasing activity in Houston in the first quarter plunged 25% from the already beaten-down levels a year ago, to 1.56 million square feet (msf), worse even than during the Financial Crisis, according to commercial real estate services firm... »

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