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oil prices

Why Are Oil Prices Recovering?

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Thursday oil futures prices jumped by more than 11% taking oil above $47 a barrel.  The futures are up another $0.87 (as this blog is being written) pushing the price close to $48.  So after being hammered on Wednesday when crude oil inventories rose rather than fell as analysts expected, why is crude rising? =>Continue Reading

Marketmakers Energy Conference Presentation

Last Thursday I presented an outlook for the oilfield service industry at a conference in Houston.  Attached are the slides from the presentation.  I did not have a prepared text.

The presentation focused on how dramatically the oil market changed in the fall of 2008, which coincided with Hurricane Ike hitting the Gulf Coast while an economic and financial hurricane was hitting New York.  Those events changed the face of the financial industry and in turn the global energy business. =>Continue Reading

Is WTI About To Become History?

Platts, the division of McGraw-Hill that tracks oil markets and oil prices, announced it plans to launch a new physical oil price marker that it believes better reflects market dynamics in the United States.  The historical measures of oil prices, and in turn the health of the global oil market, have been West Texas Intermediate (WTI) and Brent.  WTI is generally associated with the U.S.

Energy Demand Shows Further Signs of Recovery

Yesterday, crude oil futures fell by more than $4 a barrel to settle at $40.15 as negative economic and financial news sent shivers of fear about future oil demand.  At the same time, the Southeast Asia brokerage firm, CLSA, reported that its monthly survey of Chinese purchasing managers' confidence showed a rise for the third consecutive month.  The improvement in this leading indicator dates back to the implementation of the Chinese government's economic stimulus plan. =>Continue Reading

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