I won't get into the details about how betting
on oil futures works here, but see HowStuffWorks for an elementary introduction.
For this reason, we argue that focus
on oil futures should shift away from attention on oil as purely a scarcity problem toward a focus on managing the impacts (both social and environmental) of oil substitution.
For example the price of oil indexes based
on oil futures may differ from the «spot price» for oil.
Bets
on oil futures reached 1.47 million contracts for the week ending on November 15, the largest trading volume in nearly a decade.
Not exact matches
Brent crude
oil futures were last up 12 cents at $ 73.98 a barrel at 0937 GMT, some 2 percent below the November - 2014 high of $ 75.47 reached
on Tuesday.
Steven Cook, senior fellow for Middle East and Africa Studies at the Council
on Foreign Relations, said higher
oil prices lessen all the worries from 2015 and 2016 about the Saudi government's ability to maintain its commitments, but the consolidation of power in the hands of the Crown Prince also is significant for the market and investors as his reform program is widely regarded as critical for Saudi Arabia's
future prosperity.
Brent crude
oil futures were up 31 cents at $ 73.44 a barrel by 0900 GMT, after falling nearly 3 percent
on Tuesday to its lowest in two weeks.
When the company auctions that oilfield drill, for example, the goal is for its pricing model to forecast demand in the near
future based
on different factors, such as the price of
oil, leaving Ritchie Bros. less vulnerable to market surprises.
NEW YORK, April 24 -
Oil prices slipped
on Tuesday as concerns the United States might reinstate sanctions against Iran faded somewhat, reducing worries about the
future of Iranian exports.
Brent crude
oil futures were down 14 cents at $ 73.72 a barrel at 1128 GMT, some 2 percent below the November 2014 high of $ 75.47 reached
on Tuesday.
During
oil's deep decline, Schlumberger offered to drill in oilfields that were
on hiatus in exchange for a share of
future production, a move that was «very controversial» and has yet to pay off, says Colin Davies, an analyst at Bernstein.
The latest commodity trading prices for
oil, natural gas, gold, silver, wheat, corn and more
on the U.S. commodities &
futures market.
Yet with global growth declining,
oil inventory at record levels, and momentum
on the side of increasingly cost - competitive renewable energy technologies, there remains a high possibility the energy sector will face another existential crisis in the near
future.
U.S. stock index
futures pointed to a higher open
on Monday morning as traders digest news of an extension of an agreement to freeze
oil output.
Oil prices were steady
on Thursday following a larger - than - expected increase in U.S. crude inventories: U.S. crude
futures were higher by 0.04 percent at $ 67.96 per barrel and Brent crude
futures for July delivery were flat at $ 73.36.
But as we know,
oil prices and Canada's overall economy will have a strong impact
on the city's growth in the
future, and the possible effects of the
oil price drop were not factored into our calculations.
The B.C. government has pinned much of the province's economic
future on LNG exports, saying the projects are equivalent to Alberta's
oil sands in terms of jobs and revenue generation.
Also, notwithstanding a silly fiscal policy and the ongoing political impasse, the U.S. economy has some very good things going for it now, as even king of doom, Nouriel Roubini, couldn't help but note: the Fed is going to stick to its asset - buying regime for the foreseeable
future, providing a monetary protein shake the recovery still very much needs; the housing rebound is well
on its way, which is helping Americans rebuild their wealth and is boosting employment in many states with high jobless rates; and the shale
oil and gas revolution continues to power investment, job creation and revenue growth.
On this year's list, robots are going places no human has ever been, «big data» is doing things that weathermen have never been able to master, carbon is being captured from waste and turned into fuel simultaneously, fiber optic cables are searching for
oil, and
future well blowouts are being averted (maybe).
A number of funds bet heavily
on an
oil rally early in the year, boosting long
futures positions to a record in late February, before
oil went into a prolonged slump as global supply remained elevated despite cuts from OPEC.
The Panel excluded any discussion of the environmental impacts of
oil sands development, although they did allow the consideration of increased
oil prices generated by the pipeline
on the taxes and royalties associated with forecast
future oil sands production.
The plan is to launch an
oil futures contract
on the Shanghai International Energy Exchange (INE), but there are obstacles in convincing large
oil producers and consumers in using the yuan and investing in the Shanghai benchmark.
There's no doubt in Keller's mind that the
future can't run
on oil — and that, he says, presents opportunities for Cascade.
The CEOs were divided
on the price of
oil in the
future.
And since the ranking draws
on 2014 data, it doesn't account for last year's precipitous drop in
oil prices, which may in
future drag down compensation for energy sector bosses, who are well - represented
on this list.
«The exports are what we need to focus
on through the next 30 days,» Kloza, co-founder of the
Oil Price Information Service, told CNBC's «
Futures Now» last week.
Strong Chinese factory data and a decline in the country's crude output supported the
oil market, but relentless growth in U.S. output weighed
on crude
futures.
It's not her first short - term bearish
oil call
on «
Futures Now.»
West Texas Intermediate (WTI)
oil futures for April delivery traded 6 cents higher near $ 61.25 a barrel as of 11:05 a.m., ET, after settling up 23 cents
on Thursday.
U.S. crude
futures dipped below $ 28.50, while the international benchmark Brent fell as far as $ 27.79 a barrel after reports that Iran had offered sharp discounts to customers in Europe and Asia to find buyers for millions of barrels of
oil in storage that it is now free to sell, after the lifting of most international sanctions
on it at the weekend.
He is a Fellow at Columbia University's Center
on Global Energy Policy and the author of the forthcoming book «Missing OPEC: The History and
Future of Boom - Bust
Oil Prices,» from Columbia University Press, 2016.
The
future viability of
oil sands projects depends not just
on your view of world
oil prices — it depends just as much
on how these factors evolve, in particular discounts to Canadian heavy products and the Canadian dollar.
LONDON, Nov 1 (Reuters)- European
oil futures fell
on Thursday as investors continued to analyse the aftermath of super storm Sandy, while U.S.
futures gained as U.S. markets geared back up after the severe battering to the east coast delivered by Sandy.
Brent crude, which is used to price international varieties of
oil, was down 47 cents to $ 112.86 per barrel
on the ICE
Futures exchange in London.
CNBC's Jackie DeAngelis reports
on commodities as several options and
futures contracts expire Friday, and the factors supporting the price of
oil.
The «
Futures Now» team discusses crude
oil plunging 2 percent
on supply concerns, and where it may head from here.
The
Futures Now team discusses the
oil market as crude is
on - track for its longest losing streak since February.
LONDON, Nov 1 - Brent crude
oil futures fell to $ 108 a barrel
on Thursday as investors continued to analyse the aftermath of super storm Sandy.
The «
Futures Now» team discusses crude
oil's 2 % fall
on supply concerns, and where it may head from here.
The
Futures Now team discusses crude
oil on the move, with Jim Iuorio, TJM Institutional Services, and Jeff Killburg, KKM Financial.
Instead of a world dominated by renewable sources of power like wind and solar — as people concerned about the dangers of climate change would hope — PE execs see gas,
oil and even coal as a substantial component of electricity and fuel sources in 2039, according to recent interviews conducted by CNBC.com
on the
future of energy as part of CNBC's 25th anniversary.
Brent crude, used to price international varieties of
oil, rose $ 1.33 to $ 108.02 per barrel
on the ICE
Futures exchange in London.
Chevron said
on Friday it plans to spend between $ 25 billion to $ 28 billion next year and expects to further slash spending in 2017 and 2018 as well, an acknowledgment that
oil prices are not expected to rise at all in the near
future.
On the New York Mercantile Exchange,
oil futures for June delivery were up 37 cents to $ 114.30 a barrel, while in London, Brent crude gained 22 cents to $ 126.11.
The longer that the low
oil prices last, the longer that very high prices will persist in
future years due to the extreme drop in spending
on current exploration.
The Bloomberg WTI Crude
Oil Subindex is a single commodity subindex of the Bloomberg CI composed of futures contracts on crude o
Oil Subindex is a single commodity subindex of the Bloomberg CI composed of
futures contracts
on crude
oiloil.
The only production that could be brought back
on line fast is shale
oil, but without the extremely low interest rates caused by government meddling, shale drilling will be much more expensive in the
future.
In short, the argument was based
on a supply - driven analysis that weighed the sources of
future oil supply against the prices that would -LSB-...]
I ask this because some credible folks (well, Goldman Sachs is among them, but still...) have indicated that as much as 30 % of the run - up in
oil prices is due to speculation
on the
futures markets.
If news breaks that a deal is in hand,
oil prices will sink
on the expectation of this
future volume, potentially dropping by $ 5 to $ 10 per barrel.