Energy Overview — TotalView™ of the Energy Markets
OPEC pumped even more oil last month, the highest output level in three years on a surge in Iraqi barrels. Prices continue their fall toward the financial crisis lows.
Oil prices, facing a 3 billion barrel oil and refined product glut, are set to make new lows for the year.
Terrorism strikes in Paris and Beirut undermine market stability, but the economic rebound in the US is undeterred as is the Fed in its march toward a rate hike in December.
Lackluster China economic data seen hitting oil prices and generating another leg lower.
At the outset of trading yesterday, it looked like the end of the world was at hand. But with the opening of the New york session, trading was marked by an upswing that lasted through the day. It boils down to a dollar play.… Read more