Post Profile

WTI Crude Tops $50

For the first time since July 4th, the front-month WTI Crude futures contract traded above $50 - rallying almost incessantly from $44 when the OPEC 'deal' was announced last week. The catalyst for the latest move is more jawboning from OPEC, which as reported this morning, came courtesy of Algerian Energy Minister Noureddine Boutarfa who said during an interview on Ennahar television, that OPEC may cut 1% more output than agreed, although since virtually all of that production cut would have to come from Saudi Arabia, we are skeptical about the outcome.
read more


Related Posts

USD, Oil And The Fate Of Emerging Markets

Business & Finance : Forbes: Business

The futures contract for WTI crude oil delivered in August has rallied 22% since May 20. Much of the move is explainable by various short-term catalysts. Upheavals in the Middle East, stronger demand from China, and US inventories f...

Crude oil is ripping higher (USO, WTI, OIL, VDE)

Business & Finance : Business Insider: Clusterstock

Crude oil is rallying. On Thursday morning, West Texas Intermediate crude futures trading in New York rallied more than 3% to as high as $53.37 per barrel. The move higher comes after a selloff this week that took WTI to a three-mon...

WTI Crude Soars Above $48, Highest In 4 Weeks

Business & Finance : Zero Hedge

Echoing the end of August face-ripping rally, WTI crude has soared almost 12% in the last 4 days, pushing the Dec contract above $48 for the first time since mid-September... And the reason? Well, The Fed is raising rates and they w...

Crude Crash Crushes Credit Risk: WTI Hits $47 Handle, Energy Spreads Top 1000bps

Business & Finance : Zero Hedge

As energy stocks continue to catch down to oil-price's incessant weakness, US energy company credit risk has surged back above 1000bps for the first time in 3 weeks. WTI Crude oil prices just traded to a $47 handle - the lowest sinc...

WTI Crude Tops $50 For First Time Since October Amid Supply Disruptions

Business & Finance : Zero Hedge

WTI and Brent Crude oil prices have both broken above $50 for the first time since October 2015 this morning - almost doubling off its Feb 11th 26.05 lows. The immediate catalyst appears to be a combination of inventory drawdowns in...


Copyright © 2016 Regator, LLC