What a change in oil prices, heading lower (again) for another day. We see Brent crude at it’s lowest in 4 months and down 20% from it’s high this year. 211 more words
Tags » Brent Crude
Stocks opened modestly higher again this morning (Dow +30 pts; SPX +.2%). Financials and healthcare are leading the way in early trading. Over the last couple of trading sessions, the SPX has recovered from a 4% pullback and is now up 3.7% on the year (total return basis). 416 more words
Oil prices suddenly dropped on Monday as Iran and six world powers appeared closer to a nuclear deal, with its deadline set on Tuesday.
With Iran’s crude stockpiles filled with as much as 40 million barrels currently sitting in its storages, it could easily outpour the market with oil if it reaches a deal with its nuclear program. 203 more words
(8 July 2015, The age, BusinessDay, p21, Angela Macdonald-Smith)
‘The oil industry’s fears of a fresh bout of weakness in global crude oil prices are crystallising, as Brent crude oil plunged to less than $US60 ($80.20) a barrel for the first time since mid-April, with prospects for a recovery in the near term looking uncertain.’ 6 more words