Article in today’s Daily Telegraph Ooh err.. could mean £1.60 a litre for petrol by the year end!
And that is surely a headwind for the US and global economies. Since everyone has to pay for fuel, it is probably a plus for the CAD and a negative for most other majors… Fortunately, oil prices have been trending … Continue reading
USD/CAD has fallen below 0.9900 and in the process has broken below last week’s low. The reversal in oil and one-month high close in copper have boosted the Canadian dollar moreso than the comments from Carney. The strongest support is … Continue reading
Iran is putting on a brave face as the US ramps up sanctions. Foreign minister Salehi says the sanctions create “minor problems” and that the West is “wrong” in thinking Iran will “surrender”. So far $102 is holding in WTI … Continue reading
The US and global recovery is on the fritz with oil above $100/barrel yet natural gas touched a 10-year low today with no reasonable scope for a near-term improvement. In the last 11 years, oil is up 300% and gas … Continue reading
The oil market does not have a supply problem, says the man trying to avoid killing the golden geese of Europe, the US and China, in an FT op-ed. Oil is holding near 105.00, down over $2 on earlier reports … Continue reading
WTI crude is down $2 to $105.33 as US traders pick up comments from France’s Le Monde who cited a Presidential source saying a release of strategic reserves “is a matter of weeks, not days”. Yesterday Charles McConnell, assistant secretary … Continue reading
Army is training up drivers to make sure supplies aren’t disrupted There is no justification for a tanker driver’s strike Hope not or i’ll have to dust off my old Sinclair C5 Meanwhile…. Nymex Crude and ICE Brent crude are … Continue reading