25 July 2016
Oil prices have fallen to a three-month low, hit by rising concerns that a global oversupply of both crude and natural gas will dampen prices.
US oil fell 2.4% to $43.11 (£32.72) a barrel, its lowest level since April, meaning it has now fallen by 12% so far this month.
Brent crude dropped 2.1% to $44.75, its lowest level since 10 May.
Shares in oil and firms also lost ground, with Exxon Mobil shares down 1.8% and Chevron down 2.6%.
“Crude oil markets have been under pressure as oil supplies have started growing with the resumption of output from the capacity lost due to wildfires in the Canadian oil sands,” said EY energy analyst Sanjeev Gupta.
Data from market intelligence firm Genscape also suggested US production had increased.
Inventory at the Cushing, Oklahoma delivery base rose by 1.1 million barrels in the week to 22 July.
“Supply continues to return from disruptions, refined products are severely oversupplied, crude demand is falling well short of product demand, and key product demand is decelerating,” Morgan Stanley said in a note.
On Friday, data showed the amount of US oil and gas extraction points had increased for the fourth week in a row.
The slump in prices from as high as $115 per barrel in 2014 led many shale oil producers to cut the number of rigs as producing oil was no longer profitable.
But despite a decrease in American crude supplies over the past year, there are still large stocks of gasoline in the country, even as the US hits its summer driving peak.
The value of the dollar which has steadily risen over the past month has also put pressure on crude oil prices.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
