Growth relative to trend - key driver of oil prices
Oil prices are still 42% below pre-July levels and fundamentals are still weak; only in the 1986 and 2008 episodes were oil prices at lower levels at this stage of the rebound. Sustained lower oil can still help support …
Oil prices are still 42% below pre-July levels and fundamentals are still weak; only in the 1986 and 2008 episodes were oil prices at lower levels at this stage of the rebound. Sustained lower oil can still help support consumption and trade.
The oil market adjustment was faster than expected.
Better-than-feared 2015 supply imbalance was worth about 18% for oil prices.
OPEC market share edged higher, supporting oil prices another 3.7%.
The US dollar decline has boosted oil by 6%.
The rise in speculative CFTC oil positions back to July 2014 levels explains another 4.7%.
WTI surged USD 1.74 and Brent jumped USD 1.51 yesterday in a second day of rallies after the US Department of Energy (DoE) released its latest petroleum stockpiles report that was largely seen by analysts as bullish.
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UNCX Network, a cryptocurrency token vesting platform formerly known as UniCrypt, suffered a security exploit on Wednesday that drained approximately $86,000 from its shared Ethereum token pool. Blockchain security firm …
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