Rating: High school and post-secondary Summary: Markham interviews John Kemp, a highly respected energy analyst, about the relative decline of the US and Western Europe as China becomes an economic and geopolitical powerhouse. The energy [Read more]
In 2018, the US trade deficit hit $621 billion, up over 12 per cent compared to the previous year. This is still below the record high $761 billion set in 2006. US trade deficit worsened [Read more]
Hedge funds continued to boost their bullish position in crude and fuels last week despite a call from U.S. President Donald Trump for OPEC to “relax and take it easy”. Anadarko photo by Mike Goldwater. [Read more]
NOPEC bills were introduced into the House of Representatives (HR 948) and the Senate (S 370) early last month, where they were referred to the respective judiciary committees for detailed consideration. Bloomberg photo. NOPEC bills [Read more]
Investors remain cautious despite reports of progress in trade talks between the United States and China and a much more dovish tone in recent comments from Federal Reserve policymakers. Looming US election, mature business cycle, [Read more]
In a tweet on Monday, US President Donald Trump warned OPEC not to tighten the oil market too much and risk another jump in oil prices that could harm the global economy. BP photo. Oil [Read more]
The United States government’s receipts from taxes, social security contributions, customs duties and other items fell by 0.4 per cent in 2018, as reduced tax rates more than offset the impact of an expanding US [Read more]
Hedge fund managers are gambling on Saudi Arabia’s determination to tighten the market and lift oil prices plus a relatively tough sanctions policy from the White House to counteract weakness from other sources. Repsol photo. [Read more]
Saudi Arabai has demonstrated, once again, that it can always tighten the physical market, boost prices and push the calendar spread into backwardation – if it is prepared to cut its own production enough. Reuters [Read more]
Hedge funds now hold a net long position of 266 million barrels in Brent, up from 136 million at the start of December, though still far below the almost 500-million-barrel position at the end of [Read more]
The available financial and real economic data suggests the US economy is poised between continued growth at a slower rate or the onset of a recession. Port of Long Beach photo. US economy cannot afford [Read more]
Front-month Brent futures oil prices have jumped to almost $65 per barrel, up from just $50 in late December, and the highest for nearly three months. Equinor photo by Ole Jørgen Bratland. Oil prices rise [Read more]
Venezuela’s heavy crudes, such as Merey, have few close substitutes, with the nearest being grades such as Brazil’s Marlim, Mexico’s Maya, Canada’s Bow River and Cold Lake, or Iraq’s Basra Heavy. Most heavy crudes have [Read more]
Hedge funds and other money managers increased their net long position in Brent crude futures and options for the eighth time in the last nine weeks but by just 1 million barrels. Anadarko photo. Hedge [Read more]
Financial market movements, business cycles, oil cycles and even the rise and fall of companies, corporate leaders and politicians – none of them can be properly explained and predicted by the traditional narrative model. Anadarko [Read more]
Policy makers and analysts may be justified in saying they are unusually uncertain, with the economy delicately poised between moderation and recession, and hyper-sensitive to even small shocks that could nudge it towards either eventuality. [Read more]
The Federal Reserve’s promise to be “patient” as it determines how to adjust interest rates in future has been welcomed by investors fearful that an economic slowdown could preface a slide into recession. Federal Reserve [Read more]
During the first 10 months of 2018, US gasoline consumption was flat as rising fuel prices offset the strong economy and big gains in employment. Shell photo. US gasoline consumption averaged 9.34 million b/d between [Read more]
Hedge funds boosted oil and refined products buys last week on hopes of a U.S.-China trade truce and that the global economy will avoid a slowdown in 2019. Equinor photo. Hedge funds buying concentrated in [Read more]
Oil prices will be influenced by the state of the global economy as well as US shale production growth, OPEC policy, US sanctions on Iran and possible US sanctions on Venezuela. Encana photo. “Predict what [Read more] [Read more]
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