LONDON (Reuters) – Does the rise of U.S. shale oil mean fuel buyers can look forward to a multi-year period of crude price decline? Or is oil destined for new record highs above $150 a barrel?
The question is dividing energy analysts who are split on whether or not shale and other predominantly North American “unconventional” supply like Canadian oil sands will be enough to comfortably meet an increase in global fuel demand led by emerging markets to 2020.
LONDON, Oct 19 (Reuters) – Oil prices held steady at above
$112 a barrel on Friday, but analysts and traders said a move to
the downside was likely because the UK’s Buzzard oilfield was
expected to restart this weekend while the demand outlook
At 0836 GMT December Brent crude oil futures were up
32 cents a barrel but were on course for another weekly loss.
U.S. crude was down 9 cents at $92.01 a barrel.
LONDON, Oct 18 (Reuters) – Wall Street giant Goldman Sachs
, one of the biggest banks in commodity trading, has
called an end to the oil price super-cycle, reversing years of
bullish recommendations, citing a rise in unconventional oil
supplies in the United States and Canada.
Goldman has been highest predictor among major oil price
forecasters but said on Thursday “long-dated” or five-year
forward Brent crude may be anchored at about $90 a barrel.
LONDON (Reuters) – Wall Street giant Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz), one of the biggest banks in commodity trading, slashed its oil price forecast following years of super-bullish recommendations as it said oil output was soaring in the United States and Canada.
Goldman, which up until now had the highest oil price prediction among major forecasters, said on Thursday it cut its 2013 Brent crude oil price forecast to $110 a barrel from the previous $130 per barrel.
LONDON, Oct 17 (Reuters) – Diesel and heating oil users in
Europe and the United States may wonder why they are paying near
record prices when recession has cut fuel demand and the price
of crude is well below record highs.
But while the world has enough crude, shrinking refinery
capacity in Europe and on the U.S. East Coast means consumers
will need to get used to regular price spikes as increasing
dependence on imports reduces supply security.
LONDON (Reuters) – Leading commodity fund managers are focusing on refined oil product futures and U.S. refining stocks in the fourth quarter as U.S. gasoline and European gasoil supplies tighten, and U.S. refiners benefit from strong margins.
Managers at Quantex and Threadneedle who outperformed their peers in the third quarter are targeting the energy segment in their commodity funds, believing the sector still has legs.
LONDON, Oct 9 (Reuters) – Leading commodity fund managers
are focusing on refined oil product futures and U.S. refining
stocks in the fourth quarter as U.S. gasoline and European
gasoil supplies tighten, and U.S. refiners benefit from strong
Managers at Quantex and Threadneedle who outperformed their
peers in the third quarter are targeting the energy segment in
their commodity funds, believing the sector still has legs.
LONDON, Sept 28 (Reuters) – Oil prices were firmer above
$112 on Friday as plans for economic reform in Spain temporarily
eased investor concerns about Europe’s debt crisis, while
heightened tensions between Israel and Iran also provided
Improved market sentiment helped lift Asian and European
stock markets, base metals and gold after Spain announced a
crisis budget for 2013 based mostly on spending cuts.
LONDON, Sept 7 (Reuters) – Europe may face soaring diesel
prices this autumn after a string of refinery accidents ahead of
routine closures have tightened fuel supplies worldwide,
sounding alarm bells in Western governments.
The United States is pressing for a release of oil stocks
from Western nations, supervised by the International Energy
Agency. The reluctant IEA has stressed that the problem is not
with crude supply, but with the flow of products from
refineries, as wholesale fuel prices in Asian markets have
already hit four-year highs..
LONDON (Reuters) – Oil prices slipped towards $103 a barrel on Monday as investors sold off riskier assets and fled for the perceived safety of the dollar on fears that Spain will not be able to avoid a costly sovereign bailout.
Brent crude was down $3.20 at $103.63 a barrel by 0852 GMT, after brushing an intra-day low of $102.95. Brent had posted a fourth straight weekly gain in the previous session. U.S. crude fell $3.05 to $88.78 a barrel.