Crude Archive

Bloomberg: Saudi Arabia not willing to see crude at discount

[Skip to the end] Saudi Arabia Not Willing to See Crude at Discount, Naimi Says by Fred Pals (Bloomberg) Saudi Arabia, the world’s largest oil exporter, is not willing to sell crude oil at a discount to the normal market price for its grades of oil, the kingdom’s oil minister said. The ...Read More

Re: Roach-Stagflation

[Skip to the end] (an email exchange) A few of things: First, the rising wages in the 70’s led to bracket creep that put the budget in surplus in 1979 and resulted in a severe recession soon after. This time around it is unlikely the inflation takes much of a dent out ...Read More

Re: Pension fund passive commodity strategies

(an interoffice email) > >   On Wed, Apr 9, 2008 at 4:05 PM, Pat wrote: > >   What about the continued allocation increases from non-end >   users of commodities? From what I’ve read allocations by >   pensions have gone higher even with the rising prices as well >   as a whole host ...Read More

Saudi Oil Production firm at current prices

Saudi Oil Production Even with crude prices now well over $100 there’s no sign of demand for Saudi crude falling off. I expect they will continue to act as swing producer, setting price and letting quantity adjust, until a large enough supply response forces their production down below 7 million bpd. ...Read More

Reuters: Oil Falls Below $98 on Swelling US Crude Supplies

Supplies probably aren’t ‘excessive’ or US companies wouldn’t import so much and futures spreads would be in contango instead of backwardation, and WTI now trading above Brent is another sign inventories are back towards the tight side. Oil Falls Below $98 on Swelling US Crude Supplies Oil held steady around $98 a ...Read More

Re: energy and the dollar

(an email) > On Feb 19, 2008 10:03 AM, Mike wrote: > Warren, note spec comments and dollar issues, a big hurdle to overcome > if they go the other way … > Mike Hi Mike, Agreed the dollar may have bottomed. Seems to have reached a level where exports are now ...Read More

Calories, Capital, Climate Spur Asian Anxiety

Higher oil prices mean lower rates from the Fed, and higher inflation rates induced by shortages mean stronger currencies abroad. Why do I have so much trouble getting aboard this paradigm, and instead keep looking for reversals? Feels a lot like watching the NASDAQ go from 3500 to 5000 a few years ...Read More

Strong gdp and high credit losses

CNBC just had a session on trying to reconcile high gdp with large credit losses. Seems they are now seeing the consumer clipping along at a +2.8% pace for Q4. No need to rehash my ongoing position that most if not all the losses announced in the last 6 months would have ...Read More

Crude oil demand revised up

This means Saudis/Russians will continue to be price setters for at least the next few quarters. IEA Lifts 2008 World Oil Demand Growth Forecast By Reuters | 14 Dec 2007 | 05:32 AM ET World oil demand will grow more quickly than expected next year fueled by the Middle East and proving ...Read More