Oil futures dived back below $30 a barrel on Friday, but even that might not yet be enough to sufficiently choke off production and allow crude to put in a bottom, one economist calculated Friday.
Oil prices rebounded on Thursday as some players covered short positions after crude prices plumbed new 12-year lows amid concerns over Iran adding to a global glut faster than expected.
Warren Buffett is extending his big oil bet amid the crude market wreckage. His buying streak extended to a sixth day Monday, new filings show, as Buffetts Berkshire Hathaway bought another 900,000 shares of Phillips 66 as that stock bounced around thre
Crude oil had rallied nearly 6% earlier Wednesday morning after dipping below $30 per barrel Tuesday. But a report by the Energy Information Administration released at 10:30 a.m. indicated supplies had increased over the past week
One of Americas top money managers predicts gold prices will soon spike. Gold will shoot up to $1,400 an ounce, according to Jeff Gundlach, the CEO of big bond house DoubleLine Capital. That would be a gain of about 30% from golds current price of $1,09
The Chinese yuan’s 6 percent decline over the past five months is hardly anyone’s idea of a crisis. On average it comes out to a drop of less than 0.04 percent a day. But behind the scenes, Chinese policy makers are unleashing a torrent of measures to sta
The dramatic crash in crude oil prices just got even more stunning. Oil plummeted below $30 a barrel on Tuesday for the first time since December 2003. The latest wave of selling leaves crude oil down 19% this year alone. It represents an incredible 72% p
Nothing drives change like necessity. The $1.4 trillion collapse in the value of mining stocks since 2011 is poised to reshape the industry as all but the strongest companies are squeezed by the lowest commodity prices in six years. Rio Tinto Group and BH
A rapid appreciation of the U.S. dollar may send Brent oil to as low as $20 a barrel, according to Morgan Stanley.
Oh, to have bet on Indonesia’s roads this week. Jakarta-based PT Jasa Marga Persero, which operates the country’s highway system, is up 11 percent so far this year, outperforming all but four of the other 837 members of the MSCI Emerging Markets Index.
Omni Partners, the $965 million London hedge fund whose wagers against China helped it beat the industry last year, said the yuan may fall 15 percent in 2016, and even more if the nation has a credit crisis.
Billionaire speculator George Soros has added to the gloom in global markets by claiming the world risks a return to the turmoil of the 2008 financial crisis.
After watching a stock-market collapse wipe out $5 trillion of wealth in less than three months last year, Chinese authorities hatched a plan to stem the pain: circuit breakers that would be triggered by daily declines of 5 percent.
The risk of the global economy being battered by a “perfect storm” in 2016 has been highlighted by the World Bank in a flagship report that warns that a synchronised slowdown in the biggest emerging markets could be intensified by a fresh bout of financia
Alls well in this photo. Its just a young Canadian man wrestling a trained bear. No one wants to dwell on the bad times, but sometimes its important to look back to know what the future may hold.
