Tag Archives: prices

Oil Price War – Saudis up Ante Cutting Prices Another $2.00 Per Gallon

The State owned company Saudi Aramco announced that it is cutting prices to a record low $2.00 per barrel discount to Asia, Europe and all grades of crude to US refineries. To reinforce Saudi Arabia’s vow to crush US oil shale producers, Saudi prince, Turki Al-Faisal said: “Saudi Arabia won’t give up oil market share at this time for anybody.”Continue Reading

What Happened to the Oil Market?

While the focus has been on the Dow Jones Industrials and the S & P, there is another sea change taking place in the energy markets. This past summer the benchmark West Texas Intermediate (WTI) crude was trading near $107.00 per barrel. This past week we saw a low of $79.78 per barrel in the December futures contract, hitting a four year low.Continue Reading

Why are Oil Prices Falling in the Midst of Mid-East Chaos?

The oil market is one of the most illusive and difficult markets to understand. In past decades it was simple. OPEC controlled prices. When prices got too low, they cut production and prices rose. Now, however, we no longer have a single group in charge. The market is fraught with trends and counter trends that create confusion and places traders on edge. Just about a month ago, West Texas Intermediate (WTI), the US benchmark, was trading at $106-$107 per barrel. This Friday prices have dropped to $93.65 per barrel for October delivery. There are rumors of a price drop to $70-$80 per barrel.Continue Reading

Will the Oil Glut Cause a Drop in Price?

The world is awash in oil. From the US to the Mid East oil supply is outstripping demand. It is already causing disruptions in worldwide delivery systems.Continue Reading

The Fascinating World of Bitcoin

Bitcoin, started in 2009, is taking the world by storm. From just a few dollars for one coin, the price has skyrocketed to $1,000. This has spawned a host of questions about Bitcoin, What is it? Who Owns It? How Do I Buy and Sell Bitcoins? How Do I Use Bitcoin to Buy Merchandise or Services?Continue Reading