Tag Archives | futures markets

Oil market faces “historic shift” – International Energy Agency

The above chart highlights one major reason behind my forecast last August that oil prices were about to collapse.  This was that US inventories were so high, storage was starting to run out: Inventory had reached all-time record levels, and was at around 60 days of sales (blue area) And so prices simply had to fall, to […]

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OPEC seeks lower oil prices

OPEC are sounding a note of concern about the impact of high oil prices on the world economy. Hasan Qabazar, OPEC’s chief economist said yesterday ‘We are trying, hopefully, to reduce high oil prices, to have prices that are more conducive to economic development’. Qabazar also emphasised OPEC’s desire to help counter any impact from […]

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What price oil?

Crude oil prices are climbing again. $100/bbl is not impossible, if current geo-political concerns continue. And today’s tightly balanced market could persist to 2010.

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