Oil price

Wow. Turns out that in 2008 (into the mega rally time period) someone may have been “squeezing” oil after all. Read more

Having been proven right about their prediction of a rather substantial correction in commodities earlier this month, Goldman Sachs is now out with a new view.
A bullish view. Read more

Contrary to popular belief, analysis of the latest CFTC position data is beginning to show that it wasn’t so much the ‘froth‘ in the market that was responsible for this month’s run-up and subsequent commodity price collapse, but the professional fund community. Read more

Kiran Stacey

The warnings may finally be coming true. Four months after the OECD warned that the soaring oil price could damage the economic recovery in developed nations (since when Brent has advanced another 19 per cent), the IEA has noticed that global oil demand has begun to flatline. Read more

The justification for Wednesday’s commodity rout is still that RBOB futures fell (or crashed) after the EIA reported larger than expected US stockbuilds in gasoline. The more than 8 per cent move, in the usually much more stable contract, saw the CME lift margins for speculators by 21.4 per cent for Thursday. Read more

Kiran Stacey

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

Kiran Stacey

Iraqi officials are preparing to cut the country’s oil output targets from 12m b/d to somewhere between 6.5m and 7m b/d, according to The Times. Read more

Kiran Stacey

Oil production at the Sarir and Misla oilfields could restart within weeks, the Libyan National Transition Council has said. Read more

Kiran Stacey

Brent priceThe only thing more surprising than the comment from Ali Naimi, the Saudi oil minister, that the oil market is oversupplied, is how seriously the market appears to have taken it. The oil price has dipped sharply today, according to some at least, because of Naimi’s comments. Read more

Kiran Stacey

In this week’s readers’ Q&A session, Amrita Sen, oil analyst at Barclays Capital, answers your questions.
In this second of two posts, she discusses drilling in the US, national oil subsidies and growing demand from the Middle East. Read more