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Posts on ‘August 4th, 2015’

Oil companies’ grim outlook weigh on investors’ sentiment

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Screen Shot 2015-08-04 at 23.11.09By Bloomberg | 4 August 2015

NEW YORK: The world’s biggest oil companies are painting a grim picture of the future and speculators are listening. Hedge funds reduced bullish bets to the lowest level in five years as oil capped the worst month since the financial crisis. The net-long position in West Texas Intermediate contracted 7 percent in the seven days ended July 28, US Commodity Futures Trading Commission data show.

Speculators curbed their bullish stance in Brent, the global benchmark, by the most in a year. read more

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August Off To A Shaky Start For Oil Markets

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Screen Shot 2015-01-12 at 08.45.23By Evan Kelly: Tue, 04 August 2015

August started off on a dour note for crude oil, with prices tanking by around 5 percent on August 3. A slew of negative news from around the world weighed on prices. The Greek stock market plummeted on the first day of trading after being closed for five weeks. The Athens Index dropped by 16 percent on August 3 and continued its descent as of midday trading on August 4. Concerns over the Chinese economy once again reared their head as the government moved to put restrictions on short selling to stop the collapse of the stock markets. WTI fell below $46 per barrel and Brent briefly dipped below $50 per barrel before rebounding a bit on August 4. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil price: return to $45 barrel now ‘inevitable’

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Screen Shot 2015-06-05 at 13.56.07August 4, 2015

A “re-test” of the $45-a-barrel low for the benchmark Brent crude oil price is “inevitable” in the near future as supply prices continue to squeeze the market, an analyst arm of Fitch Ratings has said.

The comments from BMI Research, quoted by Reuters, came in the wake of major falls on Monday that saw the price dip below $50 for the first time in six months. A price of $45 would be symbolically significant in the UK as it is the level at which petrol prices below £1 a litre become a distinct possibility. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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