US Oil Prices Hit 7-Month Peak, What’s Next?
(Houston) Oil investors and those tied to the oil price (meaning everyone) take note, US oil prices just hit a seven-month peak. The surge came after a declined forecast for US oil stocks by the American Institute of Petroleum, as well as the announcement that Greece had succeeded in securing a new round of bailout funding. Prices jumped as much as 2.5% to $49.27. The market has now nearly doubled from its lows in January. Oil has also been boosted by a supply shortage from attacks in Nigeria and wildfires in Canada. The piece mentions that if oil moves above…

Five Things to Watch as Oil Hits $50

 |  Wednesday, 18 May 2016 10:41  |  Published in Sustainability
Five Things to Watch as Oil Hits $50
(Houston) Oil has rallied almost 80% since its bottom in January, and traders are divided as to whether the rally can keep going. With that in mind, this piece points out five things investors need to watch as oil hits $50. Firstly, look out for production figures at troubled OPEC producers, like Venezuela, Libya, and Nigeria, which has seen its production facilities under attack. Secondly, look out for supply disruptions generally, such as by the wildfires in Canada which have sent prices higher. Thirdly, and this one seems big, is whether Saudi Arabia might boost output under its new oil…

Oil Tumbles, Top in Sight?

 |  Tuesday, 17 May 2016 10:42  |  Published in Sustainability
Oil Tumbles, Top in Sight?
(Houston) After hitting a near seven-month high on Monday, Brent crude is falling back today as investors appear to be taking profits. Speaking on the market, an analyst at Commerzbank says “After a strong day of trading yesterday and similar gains earlier today there seems to be some profit-taking from investors and traders at the moment”. However, he also comments that the situation is “still very bullish” because of various production outages and that oil will soon hit $50 per barrel. OxWFD: If you take Goldman Sachs’ view—short-term bullish, long-term bearish, we may be getting to a point where it…

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