Despite the wild fluctuations that we see in the oil
markets in recent month in the middle of the pandemic, which, more often than
not, punctuated by false dawns, Prince Abdulaziz bin Salman, the Saudi oil
minister seems to be optimistic about the future of the his field. Prince AdulAziz, however, c…
Wednesday 28 October 2020
Wednesday 21 October 2020
Oil Price Fluctuation: the US crude oil build-up drives the trend
The oil price fluctuated much more than it did in the previous week, purely owing to the news that US oil inventories have gone up, deviating from the existing trend. The price has been moving upwards recently in inverse proportion to the build-up of the US crude stocks. The development once agains …
Sunday 18 October 2020
Oil Price: encouraging news from India - Covid-19 inefection rates down; diesel usage up
There is some good news from the world’s third
biggest consumer of oil, India. This week, it was reported that India’s
Covid-19 infection rates is down significantly. By coincidence, as if in proportion to the
sentiment, the usage of diesel has gone up as well, indicating the recovery of
industry o…
Thursday 15 October 2020
Oil Price: US crude oil stockpiles go down again - and it's substantial
The world, apart from a few nations in Asia without
Africa, is bracing for a new wave of the Covid-19 pandemic. Whether it is the
so-called Second Wave or a mere extension of the First Wave does not really
matter. The panic level is not as bad as that of the First
Wave, as people are slowly getting…
Monday 12 October 2020
Oil Price: insignificant decline will die down
Oil price may have fluctuated slightly this week,
perhaps due to the anticipated disruption to production and distribution in the
wake of Hurricane Delta. The inventory data from EIA, US Energy Information
Administration, meanwhile, shows that the downward trend continues, giving hope
to investors …
Thursday 8 October 2020
Oil Prices are steday - finally: sanity breaks out in the markets!
A fter inexplicable fluctuations, the oil price has
reached where it should be – at last. Some analysts, unfortunately, tend to
attribute it to the onset of Hurricane Delta, a category-3 storm. The reliably-modelled data shows that the storm
appears to die out as it reaches the mainland. In this cont…
Monday 5 October 2020
Oil Price: US inventory counts remain low for weeks
The oil price went down last week, partly due to the
unprecedented coronavirus outbreak in the White House. In fact, President Trump’s infection overshadowed a
more crucial fact that normally determines the price of commodity; it’s the
tendency of the market being flooded by excess oil, as desperate…
Friday 2 October 2020
Oil Price: did markets over-react to President Trump's coronvirus infection?
Oil price slipped in the market on Thursday and
likely to remain this way for the next few days. Some analysts were quick to relate the drop in price
with President Trump being Covid-19 positive, despite the former happened a day
before the latter’s official announcement about the infection. As for …
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