Search Results for: U.S. crude
China shares tumble again, taking 2016 losses to $2 trillion
January 27th, 2016
Chinese shares fell sharply again on Wednesday after plunging in the previous session, taking losses in 2016 to nearly 25 percent or 13 trillion yuan ($2 trillion). The benchmark Shanghai Composite Index SSEC was down 3 percent in afternoon ...
OPEC, Russia talk of oil teamwork, but Saudi talks of investment
January 26th, 2016
Senior OPEC and Russian oil industry officials stepped up vague talk on Monday of possible joint action to remedy one of the worst supply gluts in decades, while Saudi Arabia signaled its resolve to allow the market to balance ...
Oil Drops as Saudis to Maintain Spending, China Diesel Use Falls
January 26th, 2016
Saudi Aramco hasn’t cut investment in oil projects: chairman China’s diesel consumption in December dropped for 4th month Oil dropped after Saudi Arabia, the world’s biggest crude exporter, said low prices won’t reduce its spending on energy projects and China’s ...
Global Stocks Enter Bear Market: One-Fifth Of All Worldwide Stock Market Wealth Is Already Gone
January 25th, 2016
It’s official – global stocks have entered a bear market. On Wednesday, we learned that the MSCI All-Country World Index has fallen a total of more than 20 percent from the peak of the market. So that means that ...
Russian Oil: Output Grows as Prospects Shrink
January 25th, 2016
Plummeting prices and U.S.-led sanctions raise questions about Russian oil’s capacity to continue underwriting Putin’s global ambitions In the frosty swamplands of West Siberia, the drilling rigs of oil giant OAO Lukoil are helping raise Russia’s oil output to its highest ...
Saudi Arabia Said to Ban Betting Against Its Currency
January 21st, 2016
Central bank said to give directive at Jan. 18 Riyadh meeting Riyal forwards jump to highest in at least 2 decades in Jan. Pressured by plunging oil prices and costly wars in the Middle East, Saudi Arabia moved to ...
Russia’s currency collapses to lowest level ever
January 21st, 2016
The Russian ruble has just collapsed to its lowest ever level. It dropped 4% to 82 rubles per U.S. dollar on Wednesday, passing a previous low hit in late 2014 and piling on the pain for an economy already ...
The Financial Apocalypse Accelerates As Middle East Stocks Crash To Begin The Week
January 18th, 2016
It looks like it is going to be another chaotic week for global financial markets. On Sunday, news that Iran plans to dramatically ramp up oil production sent stocks plunging all across the Middle East. Stocks in Kuwait were ...
Asia markets close mostly down; Japan, Australia near bear markets
January 18th, 2016
Markets in Asia closed mostly lower Monday, on the back of another Wall Street sell-off Friday. Major indexes in Australia and Japan were nearing bear market territory, down over 18 percent from their 52-week highs. Down Under, the Australian ...
Oil price plunge: Risks and rewards
January 15th, 2016
Just over four years ago, the United States and Europe sanctioned the sale of Iranian oil in an effort to curb Tehran’s nuclear program. Oil was trading at $110 per barrel, and Obama administration officials fretted about how to ...
