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  • Thanks to U.S. shale oil, demand for OPEC crude will remain largely unchanged over the next five years the IEA says in its semi-annual report. "Output growth from North America dominates the medium-term growth profile," the agency notes. By 2018, U.S. output should reach 11.9M barrels per day, 20% of the projected total of 59.3M barrels per day of non-OPEC supply. [View news story]
    All of this oil, a market flood, and yet, prices simply will not come down. There is nothing like oversupply and lack of demand to drive oil prices and gasoline up.
    May 14 12:19 PM | 1 Like Like |Link to Comment
  • The commodity boom (DBC) is over, writes Morgan Stanley global macro chief Ruchir Sharma, as massive overinvestment - mostly to feed China's voracious demand - comes online just at the time said demand becomes considerably less voracious. Not only are China and emerging markets in general slowing, but the countries are striving to become more efficient (USO) as well. "If historical pattern holds, we are now entering a long period of falling commodity prices, which could last two decades." [View news story]
    Do you honestly think we need more false hope about falling oil/gasoline prices? This is the only commodity in the world in which oversupply and lack of demand makes prices go through the roof. The greater the inventory, the higher the price, the worse the demand, the higher the price, that is the way it works now. As long as poor people are being hurt, everything is right with the world.
    May 6 01:09 PM | 2 Likes Like |Link to Comment
  • Crude gets a boost from its favorite catalyst: geopolitical tension. Brent futures hit their highest levels in a month Monday after Israel steps up airstrikes on Syrian targets over the weekend. Expect the risk premium investors attach to oil to rise further in the coming weeks should rhetoric surrounding possible U.S. intervention heat up. Nymex crude jumped in early Asian trading as well. [View news story]
    Just like I have said before, when it comes to oil and gasoline, the greater the inventory, the higher the price. Poor people will not be given a break. The market is becoming flooded with oil/gas inventory and yet, prices spiral upward, nothing will stop it.
    May 6 11:26 AM | 1 Like Like |Link to Comment
  • Has oil topped out? "Isaac couldn't get oil moving higher, ECB bond buying can't get oil moving higher," notes an energy analyst. "Anyone want to take a stab at what will move oil higher." WTI crude +0.1% to $95.43/barrel, giving up early session gains that saw it near $98. [View news story]
    Oil has -not- seen its peek. Remember our president has let the oil company's charge whatever they feel like charging, because he knows the high prices will destroy the US economy and that's the goal, so he can be the greatest treasonous traitor the human race has ever seen. For a politician, that is a source of pride, to get the greatest act of betrayal in history. Romney will be no different, but I am not sure he will take the great satisfaction out of killing jobs that Obama does. Out of control gas prices, out of control inflation, out of control food prices, a collapsed and dead economy, get used to it!
    Sep 7 02:01 PM | Likes Like |Link to Comment