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"We do not think that anyone should intervene in these relations," the Russian presidency's office stated Friday of its "good relationship" and "partnership" with the Saudis, hitting back at Trump's comments on the emerging oil-price war.
Gasoline futures in New York fell as much as 13% to 50.00 cents a gallon, the lowest level since the current contract started trading in 2005.
Amid mounting sanctions aimed at crippling Moscow's economy, Putin seems resolved to do the same to Trump's re-election.
One might reasonably posit that when Crown Prince Mohammed bin Salman (MbS) signalled that Saudi Arabia was once again going to produce oil to the maximum to crash oil prices in a full-scale oil price war, Russian President Vladimir Putin...
Putin Rejects Potential US 'Intervention' In Russia-Saudi Oil War
According to a number of cognitive scientists, mankind uses its unique ability to reason primarily for justifying pre-held convictions, rather than for forming convictions.
Late on Tuesday, WTI plunged as low as $26.20 taking out the lows from the 2015/2016 oil recession, and sending it to a level last seen when US president was George W. Bush, people were listening to Get Busy by Sean Paul and Dogville was one of the m
Oil price wars rarely achieve their objectives. Saudi Arabia and Russia racing to out-pump each other is unlikely to be any different.
For the past 9 years ever since the downgrade of the US government by S&P from AAA to AA+, American energy giant Exxon, which back in 2007 had a market cap of over $500 billion only to see that cut by two thirds to $150BN today (half of where it was
$30 dollar oil will be great for the global economy (and in turn, a good global economy is good for oil).
In the aftermath of Saudi Arabia's declaration of an oil price war last weekend, which sent the price of crude tumbling about 30% overnight, and making profitability life for US E&P companies virtually impossible, it didn't take long for US shale pro
The drop in oil prices is likely to be short-lived, veteran stock broker Peter Schiff told RT, since the deflation of the whole US debt bubble and crash of the dollar will make the prices of oil and other commodities bounce up.
Most shale oil wells drilled in the United States are unprofitable at current oil prices, Rystad Energy has warned. The Norwegian consultancy said, as quoted by Bloomberg, that drilling new wells would be loss-making for more than 100 companies.
Oil/Petroleum Market
With energy junk bonds crashing...
The Dow closed on Monday down more than 2,000 points after a dramatic day of trading which saw the markets close briefly because stocks were free-falling so chaotically.
Now that both OPEC+ and OPEC no longer exist, and it's a free-for-all of "every oil producer for themselves" and which Goldman described as return to "the playbook of the New Oil Order, with low cost producers increasing supply from their spare capac
The sharp declines followed a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight. While Monday's drop was significant, it still didn't crack the 20 worst days for the S&P 500.
Wall Street's main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 22% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.
Bloodbath on world markets: Oil prices see the biggest plunge since the Gulf War in 1991 as Dow set to open 1,000 points lower while coronavirus panic wipes £130billion off London markets with FTSE 100 falling 8.5 per cent
Crude futures opened down a massive 31% today. Prices have recovered a bit, but price is well below cost of production. Saudi Arabia and Russia started an Oil Price War on Saturday.
For a few days at the end of February, traders were stumped when instead of surging - as it normally does during risk off days - the Japanese Yen tumbled alongside stocks, sending the USDJPY to the highest level in nearly a year even as markets were
When we discussed Saudi Arabia's shocking decision on Saturday to reverse on years of prudent oil policy following Friday's stunning collapse of OPEC+...
There is real power in the word "No." In fact, I'd argue that it is the single most powerful word in any language.
OPEC+ is no more, after a torrid 24 hours in which Russia overturned the balance of power in the oil world, leaving the members of OPEC+ dazed and confused, shocking Saudi which now faces social unrest with the price of oil far below Riyadh's budget,
With the commodity world still smarting from the Nov 2014 Saudi decision to (temporarily) break apart OPEC, and flood the market with oil in (failed) hopes of crushing US shale producers (who survived thanks to generous banks extending loan terms and
- Oil Prices Have Collapsed After OPEC+ Talks End Without A Deal
CN, Canada's largest rail company, is investigating whether foul play is involved in three incidents where trains were derailed in February. The trains derailed after Northshore Counter-Info, a far-left extremist website, called on fellow extremist
A Canadian Energy Company Bought an Oregon Sheriff's Unit
Global LNG markets are struggling with a glut of unprecedented levels...
