WTI oil prices are back under pressure this morning, as the hysterics over the Saudi bombing of Yemen ease. It is certainly a disturbing development, but two things are clear. Saudi oil production is far away from the frontline of this conflict.… Read more
Energy OverView March 18, 2015
WTI prices have made a new low for the overall sell-off that started late last year. It is really the same old story of robust output and supply and shaky demand. For some time, we had forecast that this would be the time period in which prices would bottom.… Read more
Energy OverView March 3, 2015
Brent crude oil prices took a big hit, yesterday, falling back below $60, on a rebound in Libyan output and hopeful analysis around the Iran nuclear talks. As we noted, yesterday, Iran foreign minister was on the wires touting a possible breakthrough, but Secretary of State Kerry walked those hopes back later in the day.… Read more
Energy OverView March 2, 2015
WTI oil prices start the new month back under $50, having traded down under $48 in overnight action. The themes have not changed, since we last published. Oversupply is the primary factor. Production surveys from both Bloomberg and Reuters showed gains in Saudi output last month, albeit slightly.… Read more