Month: July 2014

Oil prices are lower, again, this morning, continuing a several week slump. Brent crude oil prices have broken below $110, and WTI oil prices are testing the $103 level. German trade data was weaker than expected, and an official measure of UK manufacturing was also weak.… Read more

Oil prices are mixed this morning, with Middle East tensions supporting, once again. The Iraq government announced the battlefield death of a senior military officer even as gains were reported by the Iraq security forces over the weekend. Tensions have flared, again, between Palestinians and Israelis.… Read more

In a sign of deep Iraq fatigue in the oil market, headlines and stories that Iraq security forces have vanished from the Saudi Arabia-Iraq border have not moved the market. The story got more interesting when it was reported that the Saudis moved 30,000 troops to the frontier.… Read more

The focus of the oil market returns to Libya this morning. Various reports claim that two of Libya’s major oil ports are being allowed to re-open by rebels holding Ras Lanuf and El Sid ports. The reports are dubious and have the rebels claiming sovereignty over the region and sites.… Read more

Oil prices are slightly higher this morning in reaction to decent economic rather than geopolitical concerns for once. Not that there are not fresh geopolitical considerations. Israel is in the process of bombing Hamas territory, in retaliation for the killing of the 3 teenagers in the West Bank.… Read more