Tag Archive: Crude Oil

China the lender of last resort for many oil producers

2016-06-21

by

2016-06-21

Bawerk explains how China will be the lender of last resort of many oil producers. China might let collapse a smaller producer and become much smarter at covering its political bases across producer states to protect longer term sunk costs.

Read More »

Saudi-Arabia: Peg or Banking Crisis?

2016-06-04

by

2016-06-04

During the reign of the mighty petro-dollar standard, it was necessary for major oil exporters to recycle their dollar holdings back into the dollar-based financial system to maintain their self-imposed exchange rate pegs. US government bonds are the...

Read More »

OPEC’s Game within a Game

2016-06-02

by

2016-06-02

The fact OPEC just agreed to agree on nothing in Vienna. What next? Lots of noise about collective output vs. country allocations.

Read More »

Nigeria Currency Devaluation Looms As FX Forwards Crash To Record Lows

2016-05-25

by

2016-05-25

Despite US equity investors' exuberance over bouncing crude oil prices, the world's crude producers continue to suffer and while Venezuela is in the headlines every day (having already collapsed into chaos), Nigeria appears the nearest to that abyss ...

Read More »

OPEC Politics: Russian King, Iranian Crown Prince?

2016-05-12

by

2016-05-12

Another month, another OPEC meeting beckons for 2nd June. But unlike typical meetings on the Danube (let alone dust filled haze of Doha), the producer group might just have a new King in town.

Read More »

The ‘Strange’ Death of Mr. Abadi

2016-04-30

by

2016-04-30

As expected, PM Abadi was always going to come off worse in his last ditch attempt to try and regain some kind of political initiative by appointing a new look ‘technocratic’ government in Baghdad. But the ailing Prime Minister has managed to back hi...

Read More »

Negative Rates: Jim Bianco Warns “The Risk Of An ‘Accident’ Is Very High”

2016-04-29

by

2016-04-29

In an interesting interview with Finanz und Wirtschaft, Bianco Research president Jim Bianco discusses a variety of topics such as negative interest rates turning the entire credit process upside down, bank balance sheets being even more complex and ...

Read More »

Futures Ignore Apple Plunge; Oil Rises Above $45 As Yellen Looms

2016-04-27

by

2016-04-27

For those who thought that the world's biggest company losing over $40 billion in market cap in an instant on disappointing Apple earnings, would have been sufficient to put a dent in US equity futures, we have some disappointing news: with just over...

Read More »

Futures Jump On Chinese Trade Data; Oil Declines; Global Stocks Turn Green For 2016

2016-04-13

by

2016-04-13

With oil losing some of its euphoric oomph overnight, following the API report of a surge in US oil inventories, and a subsequent report that Iran's oil minister would skip the Doha OPEC meeting altogether, the global stock rally needed another catal...

Read More »

Another Fed “Policy Error”? Dollar And Yields Tumble, Stocks Slide, Gold Jumps

2016-03-17

by

2016-03-17

Yesterday when summarizing the Fed's action we said that in its latest dovish announcement which has sent the USD to a five month low, the Fed clearly sided with China which desperately wants a weaker dollar to which it is pegged (reflected promptly ...

Read More »

BoJ Adopts Negative Interest Rates, Fails To Increase QE

2016-01-29

by

2016-01-29

Well that did not last long. After initial exuberance over The BoJ's wishy-washy decision to adopt a 3-tiered rate policy including NIRP, markets have realized that without further asset purchases (which were maintained at the current pace), there is...

Read More »

Global Risk Off: China Reenters Bear Market, Oil Tumbles Under $30; Global Stocks, US Futures Gutted

2016-01-15

by

2016-01-15

   "We're gonna need a bigger Bullard"     - overheard on a trading desk this morning. Yesterday, when looking at the market's "Bullard 2.0" moment, which was a carbon copy of the market's kneejerk surge higher response to Bullard's "QE4" comments fr...

Read More »

A History of Oil Supply Side and the Oil Price

oil price


Read More »