Remember back in March, when oil prices were high and Ali Naimi, Saudi Arabia’s oil minister, penned a letter to the FT suggesting prices were too high because there was no lack of supply and inventories were full?
Well, prices have come down since then. A quick recap from SocGen: Read more
Chinese demand is one of the few bright spots in a generally depressed crude oil market. The phenomenally high amount of crude oil (and refined products) in storage around the world, meanwhile, is a big cause for concern for anyone wishing to see a demand upstick.
As reported earlier on FT Alphaville, the latest US inventory data shows crude stocks are piling up again — a hint that a much anticipated price recovery may not be on the cards just yet.
Sean Corrigan, chief investment strategist at Diapason Commodities, has provided us, meanwhile, with some very good charts depicting the extent of the problem and the bearish case for oil. Read more
1Man walks into a gold bar. Au!
2The end of QE?
3The persistent supply-side constraints in US housing
4Bird, plane, Abe
5Bove vs Bloomberg, redux
Show more6A glorious episode in the history of the Revenue
7Stress you next year
8An unusual bear market
9The short arm of the SEC
10Breaking up is hard to do - Rio Tinto edition
Show fewer