Oil Archive

Oil comments

Iraqi Oil Minister Sees No Output Change from OPEC (Reuters) Iraq’s oil minister Hussain al-Shahristani said on Thursday there was no sign of any shortage of oil in international markets and he did not expect OPEC to change its output levels at a meeting this week. Saudis might like letting prices sag ...Read More

Crude just traded over $92/barrel

The markets and the Fed now look at higher crude as evidence of higher demand. ♥ ...Read More

Fed cuts increasing demand and lowering the dollar support crude prices

Oil futures jump back above $90 a barrel by John Wilen Oil futures jumped back above $90 a barrel Friday, adding to the previous session’s sharp gains on a view that the recession worries that pulled prices lower in recent weeks may have been overblown. So markets are now linking rising oil ...Read More

Jan 23 late update

Monoline problem addressed, stocks suddenly oversold as that risk fades. Most earning look strong. Guidance may be soft but that’s at least partially a function of the expectation of a recession as per the media reporting and will get ignored as those fears continue to fade. If initial claims tomorrow are around ...Read More

Re: Will the cure be worse than the disease?

(an interoffice email) > the only problem i have with Meltzer is that is the consensus view now, > that inflation is a foregone conclusion-i think long term that may be > right (long term paper currency devaluation) but you could easily > correct commodity and energy prices if you have a ...Read More

2008-01-21 Update

Major themes intact: weak economy higher prices Weakness: US demand soft but supported by exports. US export strength resulting from non resident ‘desires’ to reduce the rate of accumulation of $US net financial assets. This driving force is ideologically entrenched and not likely to reverse in the next several months. In previous ...Read More

Why I expect US exports to continue to be very strong..

The desire to accumulate $US financial assets has been diminished for at least the following reasons: Treasury policy – Paulson is actively pushing both a strong yuan and threatening any other CB that buys $US with the label of ‘currency manipulator.’ CB’s had been perhaps the largest source of $US financial assets ...Read More

ECB Mersch on inflation

ECB’s Mersch Says Oil Must Not Boost Other Prices by Simone Meier (Bloomberg) European Central Bank council member Yves Mersch said a surge in oil prices must not be allowed to lead to permanently faster inflation, Luxembourg’s Wort newspaper reported, citing an interview. Yes, that is the mainstream view – don’t turn ...Read More

Crisis may make 1929 look a ‘walk in the park’

Crisis may make 1929 look a ‘walk in the park’ Telegraph by Ambrose Evans-Pritchard As central banks continue to splash their cash over the system, so far to little effect, Ambrose Evans-Pritchard argues that things risk spiralling out of their control Twenty billion dollars here, $20bn there, and a lush half-trillion from ...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