Energy Overview — TotalView™ of the Energy Markets
The energy and global equity markets were hit with a right-cross and an upper-cut, coming from poor economic readings out of China and huge diplomatic row between Iran and Saudi Arabia. (YOU CAN NOW SIGN-UP FOR A FREE TRIAL!)
Oil prices look to close out a tumultuous year with a whimper, on low volume, but with an eye to 2016 and continued massive over supply.
This is an article written by John Kilduff for CNBC Pro. Mr. Kilduff has begun contributing a weekly blog for the CNBC Pro website, and the articles are also being made available to subscribers of the Energy OverView.
Oil prices stumble into 2016 on surprise inventory and not-so-surprising commitment by Saudi Arabia to oversupplying the global market.
Oil market focus returns to China and it is not positive. Concerns abound about the ability of the central planners to deliver growth sufficient to sop up the global oil glut.
The lifting of the U.S. crude oil export ban has given new life to WTI prices. Have a Merry Christmas!
Saudi Arabia’s King Salman weighs in (via Twitter!) and claims to be working in the best interests of all oil market participants.