Crude Oil

The Aramco IPO: A Geopolitical Game Of Thrones

The fact that both sides are willing to set up a new investment fund, holding $20 billion, is a clear sign of not only the readiness of Saudi Arabia to link its future to China, but also its eagerness to support any Chinese involvement and interest in the Aramco IPO...The possible threat to the U.S. dollar, English Pound or Euro, should not be overestimated though.

RBOB Prices Tumble, Erase Harvey-Induced Gains

Following WTI crude's drop yesterday - apparently on reduced refinery demand due to Hurricane Harvey - RBOB gasoline is now tumbling, erasing yesterday's Harvey-related gains, as traders realize the short-term supply disruptions are offset by significant inventories.

$20 Oil? Forget OPEC, China Controls Oil Prices

U.S. shale has taken a lot of headline space recently as the biggest headwind for oil prices and the highest stumbling block for OPEC’s efforts to prop them up by cutting production. Yet, there may be another factor that could bring down oil prices as soon as next year... China.

WTI Algos Uncertain After Gasoline Inventories Draw But Crude Production Surges

WTI crude prices managed to scramble back up to pre-API-tumble levels ahead of DOE's data dump this morning with all eyes on gasoline inventories, which did not disappoint showing a small draw (in line with expectations) along with crude's draw which was roughly in line with API and expectations. Production continues to rise to highest since July 2015.

More Peak Shale: World's Largest Miner Is Selling Its Shale Assets

Overnight we got the clearest indication yet that the US shale sector may have indeed have peaked, when BHP Billiton - the world's largest miner - said it was in talks with potential buyers of its U.S. shale assets, purchased during a frenzied $20 billion buying spree in 2011, just as the price of oil peaked.