Oil prices climbed above $40 earlier this week, raising hopes that a recovery was underway.Several factors have conspired to keep oil demand and prices low, despite the best efforts of OPEC.Until the global economic climate improves, sustained growth in oil demand will remain a mirage.Oil prices have rallied this week. Since re-printing June’s lows this…
Country star Margo Price performed at “The Grand Ole Opry” this weekend. During her set, she gave a nod to black artists and pushed for the show to book “the real Lady A,” Anita White. Price is just the latest in a growing pool of country stars who are waking up to social injustice. It’s…
Bitcoin’s spot price briefly surpassed $10,000 early this week. Its one-year average price just crossed $9,500, a new all-time high. The largest cryptocurrency is up 37% year-to-date. As bitcoin’s price grinds toward $10,000, its performance over a much longer timescale reached a significant milestone this month. BTC’s One-Year Average Price While most traders focus on…
Industry analyst Michael Pachter predicts a $400 Xbox Series X price. He completely forgets that a cheaper Xbox is coming. How does Pachter still have a job? Everyone is left wondering about the Xbox Series X and PlayStation 5’s price point. With coronavirus, potential delays, and the generally high price of hardware, many expect prices…
Jobs in the U.S. oil and gas industry are at risk as prices plunge. The median pay in the industry is significantly high. Only five shale companies are profitable at a WTI price of $31 per barrel. The price is significantly below that now. The U.S. oil industry was already in a state of flux…
Oil prices could dive deeper into negative territory next month. The global economy will contract this year, further dampening demand. Angela Merkel has warned that the novel coronavirus is not going away soon. Oil prices reached uncharted territory earlier this week by falling to sub-zero levels. With consumption not expected to improve anytime soon, they…
One small trader invested in oil futures and almost drowned in oil. One of the biggest banks in the world went long for too long. One of the most vaunted ETFs has no future left in oil and another is almost broke With crude oil prices going negative for the first time ever, everyone and…
The oil price collapse has added to Boeing’s pile of woes. Airlines have much bigger problems than the fuel efficiency of the 737 Max in an era of dirt-cheap jet fuel. Total order cancellations for the narrow-body aircraft are running into hundreds of units. Boeing must add collapsing oil prices to the mountain of problems…
The Dow Jones started the week with a painful nosedive. An epic collapse in the price of May’s WTI crude futures contract saw front-month oil prices go profoundly negative. With a wave of job losses likely, the Dow has another big problem on its hands. The Dow Jones nosedived on Monday as the impact of…
U.S. crude futures suffered a historic selloff on Monday as WTI turned negative for the first time. The May futures price bottomed at -$40.32 after closing at $18.27 on Friday. Brent crude, the international futures benchmark, is trading at its lowest in almost two decades. The price of U.S. crude crashed to unspeakable lows on…
