Oil Prices

[donmihaihai]

"Very close to the end " doesn't mean a huge boom is next. Hugging the floor or just above the floor for years is also possible.

These kind of articles read just like those written in the mid 2000s but well, excess popped and cycle turned. Without the last supercycle (still remember this word?), the current green cycle might not be as where it is right now. So the current green cycle actually look like the seed for next oil, gas and coal boom but with many outcomes.

Investing in a company who is doing reasonable well at the deep down cycles at a huge discount always sound correct.

[brattzz]

"Investing in a company who is doing reasonable well at the deep down cycles at a huge discount always sound correct." -> very sound advice!

Thank you sir!

[cyclone]

Oil hits highest since October 2018 and pound reaches two-week high

LaToya Harding · Writer
Mon, 11 October 2021, 5:08 pm

The price of oil climbed to new multi-year highs on Monday morning, as global inflationary pressures continued to build. It came as the pound also rose to a two-week high.

Brent crude (BZ=F) jumped as much as 1.7% to $83.78 (£61.40) per barrel, its highest level since October 2018, amid restrained supplies from major producers and the ongoing energy crisis.

US crude also hit a new seven-year high, at $80.70 per barrel for the first time since 2014.

Ipek Ozkardeskaya, senior analyst at Swissquote, said: “The barrel of US crude is now trading above the $80 level and, given the global energy crunch and a cautious OPEC [Organization of the Petroleum Exporting Countries], there is little that could halt the positive trend, other than worsening growth expectations.

Oil prices slumped at the start of the pandemic, and in April last year fell below zero for the first time in history as lockdown wiped out demand while producers continued to pump crude from their wells.

However, demand has been rising in recent months as economies around the world have started to reopen.

Global oil supplies took a hit from hurricanes Ida and Nicholas passing through the Gulf of Mexico and damaging US oil infrastructure.

A dramatic surge in natural gas prices has also made oil a relatively cheaper alternative for power generation, which in turn has increased demand.

More details in https://sg.finance.yahoo.com/news/oil-hi...58550.html

[brattzz]

market trending from O&G to W&G (Wind & Gas), moving towards 2030!

[weijian]

Bashing the Fed seems to be thing that every intellectual (or self declared one) should be doing now - whether is it crashing the economy or having no clue of what tools they should exactly use.

I for one, think that they have their job and mandate and definitely know much more than me. Getting the transitory inflation call wrong doesn't affect the odds of their next decision making at all.

Nonetheless, after close to a decade of low oil prices, somehow I suspect that oil prices go back to the late 2000s-early 2010s and stay high for "some time".

OPEC’s Counterattack…

On Monday morning, the market heard that message loud and clear. The Fed is trapped, oil is going higher, and the Fed is powerless to contain it. Why would the Fed continue trying to blow up the world’s financial markets if oil will not bend to their will??

https://adventuresincapitalism.com/2022/...terattack/

[weijian]

Oil prices are back near pre-Ukraine war levels

The big picture: Six months back, the world seemed at risk of running dangerously short of oil and gas, due to Russia's attack on Ukraine. Now, oil prices are back to pre-war levels and prices at the pump are falling.

In June, U.S. gasoline prices topped $5 a gallon for the first time. Now they're a bit higher than $3.50.
Benchmark U.S. crude oil — the West Texas Intermediate futures contract price — was more than $120 a barrel that month, prompting a series of releases from the U.S. Strategic Petroleum Reserve. Now they're almost 40% less, touching sub-$74 levels on Monday before rebounding slightly.

In Europe, prices for natural gas — which Russia largely supplied — soared to records in August, as nations rushed to stockpile gas supplies for winter. They're down 60% since then.

https://www.axios.com/2022/11/29/oil-pri...war-levels