Search Results for: Saudi Arabia
Asian shares edge down, oil rises as crude inventories decline
December 3rd, 2014
The dollar marked a fresh seven-year high against the yen on Wednesday, which helped lift the Nikkei to a similar record, while oil prices recovered after data showed a drop in U.S. supply. MSCI’s broadest index of Asia-Pacific shares ...
OPEC inaction halts Europe rally; dollar firms
November 28th, 2014
Oil prices extended their recent slide on Friday, sending related shares and currencies lower, after OPEC decided to refrain from cutting output despite a supply glut. Brent crude LCOc1 touched a low of $71.12 a barrel after settling at ...
Oil prices crash below $70
November 28th, 2014
Oil prices came crashing down Thursday to trade below $70 per barrel after OPEC announced it was leaving oil production levels unchanged. WTI crude trading in the U.S. fell by roughly 7% to just below $69 — a level ...
Norway’s Krone Declines on OPEC as Dollar Falls on Growth Doubt
November 27th, 2014
The Norwegian krone dropped the most in a month against the dollar and was within 0.6 percent of a five-year low as oil ministers meet in Vienna to discuss output levels. The currency of Europe’s largest crude producer weakened ...
European Bonds Gain With Stocks as Aussie, Kiwi Decline
November 25th, 2014
Bonds rose and European stocks gained for a third day on prospects for more stimulus as inflation slows. Brent crude traded near a four-year low before a meeting of oil exporters and currencies from commodity-producing nations weakened. Spain’s 10-year ...
OPEC’s Easy Days Setting Oil Production Are Over, Veteran Says; You Need Russia, Norway, Mexico
November 24th, 2014
The days when OPEC members could all but guarantee consensus when deciding production levels for oil are long gone, according to a veteran of almost two decades of the group’s meetings. The global glut of crude, which has contributed ...
Cheap-Oil Era Tilts Geopolitical Power to U.S.
November 20th, 2014
A new age of abundant and cheap energy supplies is redrawing the world’s geopolitical landscape, weakening and potentially threatening the legitimacy of some governments while enhancing the power of others. Some changes already are evident. Surging U.S. oil production enabled America ...
U.S. stocks slip from records; oil falls
November 13th, 2014
U.S. equity prices edged off record highs on Wednesday led by weakness in the financial sector after six global banks were fined a total of $4.3 billion for currency rigging, while the oil market sagged on concerns about a ...
OPEC’s Colluders Are in a No-Win Situation
November 12th, 2014
Economists will tell you that cartels are hard to keep alive. They work when everyone in the cartel holds down production to keep the price artificially high (and punish customers). But there’s a huge incentive to exceed one’s quota. ...
Oil price swoon pulls WTI crude to 3-year low
November 5th, 2014
Oil prices fell to a three-year low Tuesday as Saudi Arabia cut prices of crude exported to the U.S., raising the specter of a bruising battle for market share that threatens the U.S. energy boom but could bring ultra-low ...
