Tradingfxdaily.com
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar
No Result
View All Result
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar
No Result
View All Result
Tradingfxdaily.com
No Result
View All Result
Home Business

As Oil Falls Below $90, Where Do Prices Go From Here?

tradingfxdaily by tradingfxdaily
August 16, 2022
in Business
0
As Oil Falls Below $90, Where Do Prices Go From Here?
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

S&P 500 ends higher with financials as Treasury yields jump By Reuters

Russia rules out talks with Japan on fishing near disputed islands By Reuters

January 29, 2023
Chinese Education Stocks Gain After Post-Crackdown Business Overhauls

Chinese Education Stocks Gain After Post-Crackdown Business Overhauls

January 29, 2023

When oil prices fall, many costs for industry and agriculture, including chemicals and fertilizer, generally follow. And shipping becomes more economical. But when they rise sharply, as they did in 2008 and in the 1970s, they tend to increase other prices and suppress the overall economy. And political fallout often ensues.

Predicting energy prices has always been a fool’s game because there are so many factors, including the expectations of traders who buy and sell fuel, the political fortunes of unstable producing countries like Venezuela, Nigeria and Libya, and the investment decisions of state and private oil company executives.

Today those complexities are particularly difficult to assess.

“(When) Will Oil Bulls Start Revising Forecasts Down?” was the title of a recent Citigroup commodities report. With a global recession “on the horizon,” it said, “which is more likely, a robust hurricane season, seeing prices skyrocketing? A return of Iranian barrels? Or a recession, with oil in the $60s by year-end/early 2023?” If a barrel of oil should drop to $60 a barrel, average gasoline prices in the United States would probably fall at least another dollar a gallon.

But a few days after Citi’s projections, Goldman Sachs Commodities Research predicted a price bounce as fuel demand rebounds. “We see growing tail risks to commodity prices inherent in the scenario of sustained growth, low unemployment and stabilized household purchasing power,” the report concluded.

The war in Ukraine remains a major variable in the worldwide supply outlook since Russia normally supplies one of every 10 barrels of the global 100-million-barrel-a-day market. Since the invasion of Ukraine, daily Russian exports have declined by about 580,000 barrels. European sanctions on Russian oil are expected to tighten somewhat more by February, reducing daily Russian exports by an additional 600,000 barrels.

Read More About Oil and Gas Prices

And as Russia further tightens its grip on natural gas sales to Europe in tit-for-tat sanctions retaliation, European utilities will be forced to burn more oil to substitute for gas.

Source link

Share76Tweet47

Related Posts

S&P 500 ends higher with financials as Treasury yields jump By Reuters

Russia rules out talks with Japan on fishing near disputed islands By Reuters

by tradingfxdaily
January 29, 2023
0

© Reuters. FILE PHOTO: A general view shows the Island of Kunashir, one of four islands known as the Southern...

Chinese Education Stocks Gain After Post-Crackdown Business Overhauls

Chinese Education Stocks Gain After Post-Crackdown Business Overhauls

by tradingfxdaily
January 29, 2023
0

MarketsThe companies have ventured into selling fresh produce and more nonacademic tutoring Source link

This is the biggest regret most retirees have, survey shows

This is the biggest regret most retirees have, survey shows

by tradingfxdaily
January 29, 2023
0

If retirees could talk to their younger selves, they would tell them to save more for their golden years.“We think...

Ukraine willing to be neutral, says Russia wants to split nation By Reuters

North Korea calls U.S. pledge of tanks to Ukraine ‘unethical crime’ By Reuters

by tradingfxdaily
January 29, 2023
0

© Reuters. FILE PHOTO: U.S. M1A2 "Abrams" tank moves to firing positions during U.S. led joint military exercise "Noble Partner...

Louis Vuitton's Owner Is Still Reading China's Tea Leaves

Louis Vuitton's Owner Is Still Reading China's Tea Leaves

by tradingfxdaily
January 29, 2023
0

The French luxury company reported record sales in 2022 thanks to American spending, but it’s too early to say if...

Load More
  • Trending
  • Comments
  • Latest
Short SPX: Top Trade Opportunities

Short SPX: Top Trade Opportunities

April 5, 2022
The Top 5 Metaverses to Look Out for in 2022

The Top 5 Metaverses to Look Out for in 2022

March 26, 2022
What is Leverage in Forex? Forex Leverage Explained

What is Leverage in Forex? Forex Leverage Explained

April 19, 2022

Larry Fink says globalization is over — Here’s what it means for the markets

March 26, 2022
Tesla Stock Split: What to Know as EV Maker Prepares to Split Its Stock in 2022

Tesla Stock Split: What to Know as EV Maker Prepares to Split Its Stock in 2022

March 28, 2022
Elon Musk Wants to Build ‘Ecological Paradise’ With ‘Retro-Futuristic Boats’

Elon Musk Warns Italy Is Dying

0

In a Less-Globalized World, Be Careful Where You Park Your Plane

0
Cardano pares most of its Q1 losses as ADA rebounds 60% in a month — What’s next? By Cointelegraph

Cardano pares most of its Q1 losses as ADA rebounds 60% in a month — What’s next? By Cointelegraph

0

Larry Fink says globalization is over — Here’s what it means for the markets

0
Natural-Gas Industry Gets Boost as Biden Shifts Stance

Natural-Gas Industry Gets Boost as Biden Shifts Stance

0
Elon Musk Wants to Build ‘Ecological Paradise’ With ‘Retro-Futuristic Boats’

Elon Musk Warns Italy Is Dying

January 29, 2023
Litecoin Displays Consolidation, Expect A Reversal Soon?

Litecoin Displays Consolidation, Expect A Reversal Soon?

January 29, 2023
S&P 500 ends higher with financials as Treasury yields jump By Reuters

Russia rules out talks with Japan on fishing near disputed islands By Reuters

January 29, 2023
European equity close: Another week of gains but the momentum slows

European equity close: Another week of gains but the momentum slows

January 29, 2023
Boris Johnson: Britain will be sucked back into EU’s orbit if Labour take over

Boris Johnson: Britain will be sucked back into EU’s orbit if Labour take over

January 29, 2023
Tradingfxdaily.com

Tradingfxdaily.com is your Forex, Stock News, World News, Crypto Currency News, Business News & NFT News Website. We provide you with the latest breaking news and videos straight from the Trading industry.

  • Home
  • About us
  • Contact Us
  • Privacy Policy

© 2022 - All Right Reserved. tradingfxdaily.com

No Result
View All Result
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar

© 2022 - All Right Reserved. tradingfxdaily.com

EURUSD=X 
$1.09  -0.16%  
EURCAD=X 
$1.45  -0.28%  
EURJPY=X 
$141.09  -0.45%  
GBPUSD=X 
$1.24  -0.10%  
EURNZD=X 
$1.67  -0.27%  
AUDUSD=X 
$0.7106  -0.15%  
CADUSD=X 
$0.7514  0.10%