EU Referendum (Free subscription) | 22/05/2008
As the price of oil hits new records , topping $135 a barrel, and the media is retailing alarmist stories about continued rises, the BBC Radio 4 World at One has devoted its whole programme to the "oil crisis". However, in The Times and The Daily Telegraph less alarmist voices can be heard. The offering in The Daily Telegraph comes from Ambrose Evans Pritchard who, under the heading, "Oil's perfect...
A Conservative's blog (Free subscription) | 23/05/2008
Oil is still continuing to rise relentlessly in price. Some fear it will hot £200 a barrel. It might just do that but it will crash, make no mistake about that. The reason why it will crash is that supply does in fact outstrip demand, though not by much and oil states are beginning to have trouble selling their oil. In fact according to this comment piece in the Times yesterday oil tankers are waiting...
Investor's Iraq Forum (Free subscription) | 22/05/2008
By Ambrose Evans Pritchard Last Updated: 1:31am BST 22/05/2008 The perfect storm that has swept oil prices to $132 a barrel may subside over the coming months as rising crude supply from unexpected corners of the world finally comes on stream, just as the global economic downturn begins to...
Atlantic Review (Free subscription) | 23/05/2008
A tip from our reader Don has led us to an article in the London Times . In it, economics columnist Anatole Kaletsky argues that the astronomical oil prize is not caused by economic fundamentals like supply and demand, but rather the product of a typical financial boom-bust cycle, which could be deflated - especially with some help from sensible political action - as quickly as it built up. [...] In...
Daily Pundit (Free subscription) | 22/05/2008
Oil's perfect storm may blow over - Telegraph The perfect storm that has swept oil prices to $132 a barrel may subside over the coming months as rising crude supply from unexpected corners of the world finally comes on stream, just as the global economic downturn begins to bite. Those who use chart patterns as a commeodity [...]
SeekingAlpha Energy Stocks (Free subscription) | 22/05/2008
Macro Man submits: Oil. If one wished to summarize May's financial market trading in one word, that would be the one. Crude's stunning rise has befuddled many, including regular posters D and Mr. Prop, as well as Macro Man himself. Anatole Kaletsky blames the speculators ; unfortunately, the quality of the CFTC data on specs is insufficient to reach an accurate judgment of the matter, as index "investors"...
Fresh Bilge (Free subscription) | 22/05/2008
I read an absurdly paranoid piece on future oil prices. Drudge linked it, but later he linked something a lot more realistic. The short term peak has probably arrived. The market is doing what markets do — correcting itself, as prices exert their magic power over demand and supply. It might as well be magic, [...]
TWO NIL BLANK BLANK (Free subscription) | 22/05/2008
… but this column by Anatole Kaletsky of The Times is worth reading. About how oil prices are currently detached from supply and demand.
CARPE DIEM (Free subscription) | 23/05/2008
The perfect storm that has swept oil prices to $132 a barrel may subside over the coming months as rising crude supply from unexpected corners of the world finally comes on stream, just as the global economic downturn begins to bite. The forces behind the meteoric price rise this spring are slowly receding. Nigeria has boosted output by 200,000 barrels a day (BPD) this month, making up most of the...
Macro Man (Free subscription) | 22/05/2008
Oil. If one wished to summarize May's financial market trading in one word, that would be the one. Crude's stunning rise has befuddled many, including regular posters D and Mr. Prop, as well as Macro Man himself. Anatole Kaletsky blames the speculators ; unfortunately, the quality of the CFTC data on specs is insufficient to reach an accurate judgment of the matter, as index "investors" show up as...
