"Oil prices settled 5 percent lower on Friday after Britain's vote to leave the European Union spurred massive risk aversion and a rally in safe havens like the U.S. dollar that threatened to cut short a three-month-long recovery in global oil markets." Source: cnbc.com
"US policymakers should allow inflation to rise above official targets, the International Monetary Fund has recommended, as it warned that the risks of deflation still loom over the world’s largest economy." IMF advised the Fed to create more inflation to keep the economy running. It is as though the IMF and the Fed is now [...]
"Over the past few months, we've gained even more confidence that tightening global oil supply/demand dynamics will support a much higher level of oil prices in 2017," the Raymond James & Associates says. "We continue to believe that 2017 WTI oil prices will average about $30/barrel higher than current futures strip prices would indicate." Raymond [...]
"Wall Street is just trying to blame the carnage in the stock market on oil prices. But that’s not really why stocks are going down. The reality is oil prices and stocks are both going down for the same reason, and it’s because the Federal Reserve is threatening to raise interest rates and the dollar [...]
"Analysts are growing even more bearish about the oil price, predicting that crude is set to stay below $60 a barrel through next year as the market struggles to recover from a supply glut." Source: wsj.com
"Globally, the sovereign bond market is $58 trillion in size. The investment grade sovereign bond market (meaning sovereign bonds for countries with credit ratings above BBB) is around $53 trillion. And if you’re talking about countries with credit ratings of A or higher, it’s only $43 trillion. This is the ultimate backstop for over $700 [...]
"One of the most significant countries in terms of future oil growth may not be able to achieve its long-term production goals, raising red flags about global oil supplies in the years ahead. For years, Iraq has been central to the IEA’s rosy scenarios for long-term sources of new oil supply. A few years ago, [...]
"DOHA, Qatar—The Organization of the Petroleum Exporting Countries has become more pessimistic about the future of oil prices this year amid plentiful supplies and softening demand from China, the group’s members said this week." Source: wsj.com
"Recent volatility in the price of oil has led some analysts to re-examine the history of price swings for the commodity. Wednesday's price, back to the recent lows branded "close to unsustainable" by HSBC strategists, came after an oil price spike on Monday that was bigger than any since the Gulf War broke out." Source: [...]
"Get ready for even lower oil prices. Futures for a barrel of West Texas Intermediate crude fell below $39 a barrel Monday -- a level not seen since 2009. Oil settled Monday just above $38, down more than 5%. It was just June of 2014 when oil was at $100 a barrel." Source: money.cnn.com