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  • Editor’s Picks / 13 minutes ago

    Why oil investors are so behind the curve

    Reuters Breakingviews
    Oil investors are behind the curve. Many assume that the cost of pulling oil out of the ground is relatively static – or at least changes slowly. Reality is slipperier. Rethinking the way the “cost curve” works may help explain recent gyrations in oil and other commodity markets. Miners, drillers and investors love cost curves because of their simplicity. Draw a chart with producers lined up on the horizontal, in order of how cheaply they can get supply out. In the case of oil, to the far left are the cheapest Middle Eastern fields; on the right, the most expensive deepwater and oil sands. On the vertical is the cost of production. The result is an upward-sloping curve. As price rises or falls, suppliers become economical, or not. Analysts then guess how supply will pan out. Trouble is, the cost curve used to be seen as mostly fixed over the short to medium term. The recent surge in US shale oil production means the old rules may no longer apply.
    Read article on Reuters Breakingviews
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  • Article / 46 minutes ago

    Aussie dollar a hostage to global forces

    Managing Director / Technical Research Limited
    New Zealand
    Aussie dollar a hostage to global forces
    Australia's economic growth came in under market expectations, at 2% year-on-year, well below trend. There is a good case for the AUD to 'adjust' a lot more yet. Money markets maintain a 100% chance the RBA will cut its 2% policy rate by 25 basis points by year end.
    Read the article
  • Editor’s Picks / 1 hour ago

    IMF's two reasons why first-half global growth is weak

    CNBC
    The IMF said on Wednesday that moderate global growth in the first half of the year is reflective of two elements: a slowdown in emerging economies and weak recovery in advanced ones. "In an environment of rising financial market volatility, declining commodity prices, weaker capital inflows and depreciating emerging market currencies, downside risks to the outlook have risen, particularly for emerging markets and developing economies," the IMF said. The analysis comes when global markets have been in flux, with US crude prices closing up nearly 2% on Wednesday after falling as much as 4%. This came a day after crude futures settled down nearly 8% after a massive three-day rally. Equities have also been taken for a ride, US stocks closing more than 1% higher a day after plunging more than 2%.
    Read article on CNBC
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  • 2h
    Patto Patto
    Hey Mike. Don't you ever sleep ???
    1h
    yuiyui yuiyui
    lol
  • 9h
    John Roberti John Roberti
    Which WTI chart are you looking at: Continuous, future october or future november they do not have the same values to consider your critical level of 43,60....
    9h
    bvlaerhoven bvlaerhoven
    Hi John, i'm looking at the continuous chart (CLc1). There is something to say for each level (44.00 - 43.80 - 43.60). The most important...
  • Calendar event / Yesterday at 14:30 GMT
    High Crude Oil Stocks, Net Chg (Bbl)
    +0.1M
    +4.667M
    High Gasoline Stocks, Net Chg (Bbl)
    -1.5M
    -0.271M
    High Distillate Stocks, Net Chg (Bbl)
    +1.2M
    +0.115M
    Med Gasoline Stocks (Bbl)
    214.163M
    Med Crude Oil Stocks (Bbl)
    455.428M
    Med Distillate Stocks (Bbl)
    149.951M
    Med Refinery Usage
    94%
    92.8%
    Med Total Prod Supplied (Bbl/day)
    20.252M
    Med Total Prod Supplied, Net Chg (Bbl/day)
    +0.829M
  • 12h
    ozy ozy
    WTI looks like to test again under 40
    11h
    Ole Hansen Ole Hansen
    Crude inventories up by 4.7 mm bbl, Gasoline falls by less while refinery activity slows more than expected. Overall a price negative report somewhat off-set by...