Oil prices surged following the surprise attack by Hamas on Israel and Israel’s counterstrike over the weekend. After a knee-jerk reaction upon the open of trading around the world, prices have been well behaved and should abate as the shock of the attack, as deadly as it is, abates. It is ... READ MORE >
West Texas Intermediate
Chart of the Day: Falling oil and gas demand implies inflation relief
Easing demand for oil and gasoline should provide relief in top-line inflation in October and November. Falling wholesale gasoline prices imply a decline of 12% in retail gasoline prices in the coming weeks from its current level of $3.79 to roughly $3.34 per gallon. This is consistent with the ... READ MORE >
CHART OF THE DAY: As demand for oil sags, price and production tumble
Global aggregate demand for oil is sagging again as the second wave of the global pandemic sweeps across Europe and Britain and intensifies in the United States. For the third time in 20 years, the bottom has fallen out of oil prices, which will most likely have enormous implications for the economies of ... READ MORE >
Increased shale production partially insulates American economy from Iran conflict
The reaction to the killing of Iranian Major General Qassim Suleimani, the commander of Iran’s Revolutionary Guards Corps, across oil, energy and financial markets has been muted. For now, investors are focused on the supply component of the global oil equation. American shale oil production has ... READ MORE >