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Energy & Commodities

EXTREME OIL PRICE VOLATILITY: Bad Sign That All Is Not Well In The Markets

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Posted by Steve St. Angelo - SRSRocco Report

on Tuesday, 17 July 2018 07:33

The markets are in serious trouble as the extreme oil price volatility continues to devastate the global economy.  Investors and analysts today are totally clueless because they have become the frogs burnt to a crisp in the frying pan.  Over the past several decades, the oil price has fluctuated tremendously, much like the EKG of an individual whose vital signs have run amuck.

Unfortunately, no seems to notice, and no one seems to care (George Carlin).  However, the market and traders have grown accustomed to the volatile trading insanity as the oil price rises and falls 3-5% in a day.  Today, the West Texas Intermediate (WTI) Crude oil price has been down more than 4%:

WTI-OIL-SPOT-JULY-16-2018

And if we consider that the oil price was trading at $74 just last week, it is now down a further stunning 8%.  However, if we look at the oil price over a six-month period, the price fluctuations are even more significant:



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Energy & Commodities

Oil Retraces Libyan Production Surge

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Posted by Tom Kool

on Friday, 13 July 2018 15:13

oilland2

The oil market took a beating this week, with the return of Libyan supply weighing on crude prices.... CLICK for the complete article



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Energy & Commodities

The Critical Chokepoint That Could Send Oil To $250

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Posted by Irina Slav

on Wednesday, 11 July 2018 11:53

oil land

Crude oil prices could jump as high as US$250 a barrel if Iran goes through with its threat to close the Strait of Hormuz in response to U.S. pressure on oil buyers to cut their Iranian purchases to zero, RT reports, quoting.... CLICK for the complete article



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Energy & Commodities

Shell Ramps Up in Kitimat, Raising Canada’s $30B LNG Hopes

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Posted by Natalie Obiko Pearson

on Monday, 09 July 2018 15:38

newLNG

A flurry of activity is raising optimism that Royal Dutch Shell Plc and its partners are ready to go ahead with the nation's largest infrastructure project: a $40 billion liquefied natural gas terminal that could at last unlock energy exports to Asia.

“I would put money on it — it’s going ahead,” says Phil Germuth, mayor of Kitimat, who recently hosted a banker from Barclays Bank Plc visiting from the U.K. to examine the project. Germuth also met a group of officials reporting to the board of Mitsubishi Corp., one of the project’s five partners, who visited the site in May.

LNG Canada, as the project is called, is stunning in scale. It proposes to eventually ship as much as 28 million tons a year out of Kitimat, the equivalent of 10 per cent of global LNG supply in 2017, according to reports by.... CLICK for the complete article



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Energy & Commodities

Syncrude to Ramp Up to Full Production

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Posted by Canadian Press

on Monday, 09 July 2018 14:54

syncrude

Suncor Energy Inc. says production at the Syncrude oilsands complex is expected to ramp up to full production in early to mid-September after a power disruption in June that shut down operations.

The company, which holds a 58.7 per cent stake in the partnership, says a preliminary investigation indicates the disruption was caused by a transformer malfunction the cut power on June 20.... CLICK for complete article



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