EMerging Equity
Plummeting Oil Prices
WTI Crude Falls Below $40 First Time Since 2009: Some Analysts See The Bottom As Low As $10
“American benchmark WTI crude briefly slipped below $40 per barrel for the first time since 2009, showing an eighth straight weekly decline , the longest streak in almost 30 years,” RT reports. According to the news agency: During the intraday trading in New York, the benchmark WTI crude price dropped as low as $39.86 per … Continue reading
Investors Flee Russia As Recession Deepens Due To Plummeting Oil Prices
The persistent decline in oil prices that keeps pressure on the Russian ruble will further deepen the recession of the Russian economy, Moody’s reports. According to the rating agency the Russian economy is in a recession and if the current macroeconomic and geopolitical situation doesn’t change soon, especially with respect of oil prices and the country’s … Continue reading
Outflow From The Largest US Oil ETF Reached $1 Billion In April-May
The biggest U.S. exchange-traded fund (ETF) that tracks oil, the United States Oil Fund, known as USO, is heading for the largest two-month outflow in six years. Investors are worried that it could be the end of crude’s 30 percent rally. Shareholders of the USO have withdrawn almost $1 billion so far since the beginning of April, … Continue reading
Russia’s International Currency Reserves Declined Again
“Reserves dropped due to the negative balance of the exchange and the mark-to-market adjustments, Central Banks’s press service says,” according to TASS, Russian news agency. Russia’s international reserves declined by $6.3 billion to $356.7 billion from February 27 to March 6, 2015, the Bank of Russia said on Thursday. “Russia’s international reserves are highly liquid foreign assets … Continue reading
Goldman Sachs: Oil Prices Could Fall To $30 A Barrel
Goldman Sachs President Gary Cohn told CNBC on Wednesday he is very concerned about the short-term window for oil. He thinks crude prices could fall to $30 a barrel. One of the major reasons is the industry runs out of storage space. With the winter heating oil season ending, refineries are turning to producing more gasoline … Continue reading
Goldman Sachs Eyes $40 Oil As Weather, Violence Enter Modeling
As Goldman Sachs looks towards a future $40 per barrel price of oil, private equity funds are building dry powder for further investments. With oil in a state of backwardation – the future price is higher than the current spot price, sometimes considered a positive sign for those wanting higher prices – Goldman Sachs Group … Continue reading
OPEC Will Hold Extraordinary Meeting If Oil Plunge Continues – Cartel President
The OPEC member states are discussing the possibility of an emergency meeting should oil prices continue to fall, said Nigerian Oil Minister, and OPEC President Diezani Alison-Madueke. Prices have dropped by than half since their peak last summer. If the price “slips any further it is highly likely that I will have to call an … Continue reading
Why $10 Barrel Crude Oil Might Become Reality
The United States has accumulated record volumes of crude oil in reserves, now hovering like the sword of Damocles over the global energy markets and the world’s several petrocracies. By Sputnik News Global oil prices dipped this past week, ending a month-long rebound, which some observers had seen as a good sign for both the corrupt petrocracies around the … Continue reading
Record Iraqi Oil Output Adds More Downward Pressure On Prices
Iraq’s daily oil production reached a record 4 million barrels in December 2014 and the country is planning to increase its share of the global oil market, said Iraqi Oil Minister Adel Abdul Mahdi. The decision is likely to push oil prices even lower. “This figure was reached for the first time in history,” he … Continue reading
Iraqi Vice President Says Oil Price Crash Is Economic War On Russia, Iran
By Sputnik Vice President of Iraq Nuri al-Maliki says the ongoing decline in oil prices in not a normal economic situation and has not happened on its own, but was rather instigated as an economic war targeting mostly Russia and Iran. MOSCOW, January 17 (Sputnik) — Vice President of Iraq Nuri al-Maliki has recently commented on the ongoing … Continue reading
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