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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Crude oil prices struggle to break free from static shell!

The move of production cuts made by the OPEC+, branding it as a ' precautionary measure ' has not been successful in pushing the crude oil price up, apart from creating an understandable, initial stir in the markets at the  beginning of the last week. The failure appears to be consistent with …

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OPEC+ production cuts failed to excite the oil markets

The price of crude oil, despite going up by almost 6% on Monday morning, thanks to the abrupt production cuts announced by the OPEC+, lost it momentum again as the days wore on.  As of 11:00 GMT, the prices of WTI and Brent were at $79.48 and $84.56 respectively. The OPEC+ announced on Sunday that th…

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Why did the members of the OPEC+ change their hearts suddenly?

The sudden announcement by the OPEC+ - OPEC plus Russia - took us, the mere mortals, by surprise and it was a bolt from the blue, indeed.  The prominent members of the group announced that they would opt in for voluntary cuts in crude oil production from May; the numbers are not insignificant and th…

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