Daily Archives: May 6, 2011

Just what everyone has been waiting for!

The latest thoughts from Goldman Sachs’ energy gurus on the most recent commodity mega-slide.

And don’t forget: they did predict it.

Kiran Stacey

Newsflash from Reuters:

15:15 06May11 RTRS-BP PLC <BP.L> – ARBITRAL PANEL PERMITS CONDITIONAL COMPLETION OF BP-ROSNEFT SHARE SWAP
15:16 06May11 RTRS-BP PLC <BP.L> – ASSIGNMENT OF ARCTIC OPPORTUNITY TO TNK-BP
15:16 06May11 RTRS-BP PLC <BP.L> – THE ORDER ALSO PERMITS THE PROPOSED SHARE SWAP BETWEEN BP AND ROSNEFT TO PROCEED

BP shares are now on the up following early morning falls.BP share price

More on this to follow from our energy editor Sylvia Pfeifer.

Kiran Stacey

Thursday’s dramatic drop in the price of oil and other commodities has left markets reeling.

The rout has continued on Friday morning, and at the time of writing, Brent is down at around $105 a barrel, from about $125 on Monday.

But with no obvious trigger for the sell-off, traders and analysts are offering varying interpretations as to why it is happening, and, especially, why now.

 

FT Energy Source

Oil leads commodities price plunge – FT

Crude continues to fall: bounce-back rally falters – WSJ

Doubt over demand spurs sharp crude fall – FT

Dissecting the oil price tumble – NY Times

NRG Energy swings to a loss – WSJ

Transocean profit falls 54% – WSJ

Europe told of potential shale gas bonanza – FT

Obama forms panel to improve fracking safety -Reuters

Rosneft buys stake in BP’s German venture – The Telegraph

Putin accuses oil groups of price fixing – FT

Shell to sell Nigeria oil field stake for £600m – The Telegraph

Shell and Cairn announce ‘risky’ drilling in the Arctic – The Guardian

Vedanta says approval nears for India deal – FT

Brazilian imports of US ethanol soar – FT

Success fuels ethanol subsidy changes – FT

 

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