Oil price: the great stagnation

Having recorded more than 4% fall on Thursday, the price of oil has slipped back into the realm of stagnation, much to the frustration of traders and of course, beleaguered producers. As of 18:00 GMT on Friday, the prices of WTI and Brent were at $69.16 and $73.85 respectively.  On Thursday, the Gove…

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Potential revival of Iranian Nuclear Deal: will the oil price be under further strain - again?

The price of oil remains static despite the production cuts announced by Saudi Arabia, the world's top exporter of crude  oil, recently. At present, it is far below where the Saudis want it to be, given the fact that that their breakeven price at present is above that of crude oil. Production cu…

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Oil price: have the production cuts placed OPEC+ under severe strain?

With the oil price rally that we saw on Monday being dubbed as one of the shortest of its kind, Saudi Arabia, the largest crude oil exporter in the world, has been left reeling from yet another shock from the unpredictable behaviour of  the commodity markets. As of 13:00 GMT on Wednesday, the prices…

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China's Manufacturing Purchasing Managers' Index Falls - yet again!

China's Manufacturing Purchasing Managers' Index, best known as the  PMI, fell again in May, according to the latest data released by China's National Bureau of Statistics. This is is the fourth successive drop since February this year. China says an index of the  PMI below its threshold…

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Will the price of oil go up as the threat of US default recedes?

As the bipartisan discussions on the US debt ceiling appeared to have averted an impasse, the impact of yet another unexpected development on the energy markets drifts slowly into oblivion in proportion to the diminishing danger that could otherwise have wreaked havoc in the global economy. Both Pre…

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Will oil markets defy a potential US debt default?

US Debt Crisis - 2023 With just ten days to go before the D-day, the decisive day or more aptly called default day, not only does the US place its reputation on the line, but also inadvertently pushes the rest of the world to the brink. Unless an agreement is reached between the two major parties in …

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Oil price: will the constructive talks between the US and China restore strained relations?

The prevailing bearish sentiment in the oil markets does not seem to be shifting towards a watershed moment anytime soon in light of plenty of worrying economic indicators. The Bank of England, for instance, increased the interest rates yet again on Thursday to 4.5%, from 4.25%, on the grounds of ta…

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China's Manufacturing PMI tumbles in April unexpectedly: crude oil markets react

From time to time, we have been asked by experts in many different fields not to put all our eggs in one basket. Agreed and followed up to the letter.  The investors and economists in the realm of oil and gas, however, have been deviating from the well-hackneyed, golden rule in recent months by doin…

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Oil price falls again as economic worries dominate the sentiment

The price of crude oil fell on Monday when the markets opened for business and it has since been back on the static trend despite the substantial production cuts by the OPEC+. Although analysts hoped that the significant crude draw announced by the API, American Petroleum Institute, on Tuesday would…

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Oil and gas prices fall again as the concerns over global economy grow

The prices of crude oil slipped into yet another statistically chaotic week as the latter draws to a close, having been through some wild fluctuations that defied reason. As of 10:30 GMT, the prices of WTI, Brent and LNG, liquified natural gas, were at $77.36, $81.06 and $2.23 respectively. Neither t…

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