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In 2015, global capacity for oil storage was out-paced by global oil production and an oil glut occurred. Crude oil storage space became a tradable commodity with CME Group— which owns NYMEX— offering oil-storage futures contracts in March 2015. [3] Traders and producers can buy and sell the right to store certain types of oil. [3]
If short-term interest rates were expected to fall in a contango market, this would narrow the spread between a futures contract and an underlying asset in good supply. . This is because the cost of carry will fall due to the lower interest rate, which in turn results in the difference between the price of the future and the underlying growing smaller (i.e. narrow
Analysts generally expect crude prices to remain steady over the next year. President Donald Trump has vowed to lower oil prices and unleash a fossil fuel frenzy during his second term, but he ...
Crude oil futures prices on the New York Mercantile Exchange in March, April, and May 2020. In March and April 2020, demand for crude oil dropped dramatically as a result of travel restrictions related to the COVID-19 pandemic. [8] Meanwhile, an oil price war developed between Russia and Saudi Arabia, and both countries increased production. [7]
The "No. 1" risk for the markets is "higher oil prices," says a top UBS strategist. "The price of oil is a pretty good market barometer for escalation in Ukraine," Stuart Kaiser, head of equity ...
U.S. Energy Information Administration: World Crude Oil Prices Archived 2008-11-10 at the Wayback Machine; BP Crude Grades; Intertek: Crude Oil Grades and Types; MeGlobalOil: Carriage of Heavy Grade Oil; Statoil.com: Crude oil assays; EnergyIntel.com: The Crude Oils and their Key Characteristics; Capline system crude oil properties and quality ...
"Petrocurrency" or (more commonly) "petrodollars" are popular shorthand for revenues from petroleum exports, mainly from the OPEC members plus Russia and Norway.Especially during periods of historically expensive oil, the associated financial flows can reach a scale of hundreds of billions of US dollar-equivalents per year – including a wide range of transactions in a variety of currencies ...
Energy portal; Crack spread is a term used on the oil industry and futures trading for the differential between the price of crude oil and petroleum products extracted from it. . The spread approximates the profit margin that an oil refinery can expect to make by "cracking" the long-chain hydrocarbons of crude oil into useful shorter-chain petroleum produc