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Oil in Global Economy Series

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A new oil order has emerged over the past few years as oil prices have taken a plunge of about 60%. U.S., world’s one of key importer is about to become a major exporter of hydrocarbons. OPEC cartel, which has historically been a key player politically and price maker, losing its relevance and pricing power. On the energy front, renewables and gas becoming key challenger to oil’s global dominance. Moreover, this lower price is hitting energy exporters harder, creating global economic vulnerabilities. This new oil price and geo-political order demand greater analysis, which is the main focus of this series.

Oil in Global Economy Series

Rumors of emergency OPEC meeting surface as oil nears $30/barrel

Jan 12, 2016 12:02 pm UTC| Commentary

Oil price today dropped to as low as $30.4/barrel and rumors started surfacing that OPEC might hold an emergency meeting over the groups strategy to reign over oil price. Lower oil price is also creating panic in stock...

Oil in Global Economy Series

WTI and Brent at twelve-year lows of slightly over $30 per barrel, expected to continue with downturn

Jan 12, 2016 11:22 am UTC| Commentary

Both Brent and WTI are at twelve-year low of slightly over $30 per barrel. Brent dropped 6% yesterday, while WTI declined 5%. Today the prices have registered a drop of over 2%. Oil prices are expected to continue with the...

Oil in Global Economy Series

Oil slips to 12-Year low, may touch $20 a Barrel as expected

Jan 12, 2016 06:44 am UTC| Commentary

Oil was traded on Tuesday near its weakest levels since 2004. Futures for WTI fell 2.39% to trade at $30.66 per barrel, while Brent futures slipped 2.51% to $31.08 per barrel. One of the reasons for downfall is strong US...

Oil in Global Economy Series

Driving forces of crude inventory - WTI slips below $33/brl to hit multi-year lows

Jan 07, 2016 12:31 pm UTC| Insights & Views

We think this is nothing but demand supply equation seems heading a rampant, as per the US department of energy, demand during end of 2015 was weaker than at any time in more than ten years, and was 9.3% down on the YoY...

Oil in Global Economy Series

API reports deficit, while WTI awaits EIA report – calls updated

Jan 06, 2016 13:20 pm UTC| Commentary

WTI is continuing its downward slide, as Middle East tensions failed to lead into greater crisis. Key factors at play in Crude market Middle East tensions between Iran and Saudi Arabia bearish for crude as it...

Oil in Global Economy Series

Middle East tensions act as negative for Crude

Jan 06, 2016 11:51 am UTC| Commentary

Global benchmark Brent crude is down almost 4% today, falling again to discount against WTI as supply glut refuses to abate. North American benchmark WTI is down 2.5%. Brent has hit fresh 11 year low, surpassing 2009...

Oil in Global Economy Series

Oil prices rising, Investors await the fresh weekly stockpile report

Jan 06, 2016 06:41 am UTC| Commentary

US crude futures were trading slightly elevated on Wednesday, as traders await the inventory report before deciding on any major move. Futures for WTI added 0.22% to trade at $36.05 per barrel, while Brent futures gained...

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Economy

Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

Three weeks from now, some of us will be presented with a mountain of budget papers, and just about all of us will get to hear about them on radio, TV or news websites on budget night. The quickest way to find out what...

Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility

Ivan Vladislavić is Johannesburgs literary linkman. He tells us, in the first pages of his new book, The Near North, that before cities were lit, first by gaslight and later electricity, people of means paid torchbearers...

Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget

With Jim Chalmerss third budget on May 14, Australians will be looking for some more cost-of-living relief beyond the tax cuts although they have been warned extra measures will be modest. As this weeks consumer price...

Why is the London Stock Exchange losing out to the US

London Stock Exchange (LSE), which can trace its heritage to the coffee houses of the 17th century, is failing. The volume of shares traded is sharply declining, and some UK companies are swiftly moving to the US...

Why Germany ditched nuclear before coal – and why it won’t go back

One year ago, Germany took its last three nuclear power stations offline. When it comes to energy, few events have baffled outsiders more. In the face of climate change, calls to expedite the transition away from fossil...

Politics

Labour can afford to be far more ambitious with its economic policies – voters are on board

To say that the Labour party is flying high in the polls is something of an understatement. But despite its consistent lead against the Tories, the opposition finds itself in a rather odd position: on the cusp of power but...

History for sale: what does South Africa’s struggle heritage mean after 30 years of democracy?

One of my favourite statues is the one of Nelson Mandela at the Sandton City shopping centre in Johannesburg. Larger than life, its oversized bronze shoes shimmer in the evening light, polished by the hands of many...

Sudan: civil war stretches into a second year with no end in sight

In the early hours of April 15 2023, the Rapid Support Forces (RSF) a Sudanese paramilitary force attacked the military airstrip in the town of Merowe and deployed troops across strategic locations in Sudans capital,...

Joe Biden Proposes Record 44.6% Capital Gains Tax in Latest Budget Plan That May Favor Cryptocurrencies

President Joe Biden has proposed raising the capital gains tax to an unprecedented 44.6% in a bold fiscal move, targeting the wealthiest Americans. This hike is part of his 2025 budget proposal to reduce income...

Turkey’s suppression of the Kurdish political movement continues to fuel a deadly armed conflict

The world has 91 democracies and 88 autocracies. Yet 71% of the worlds population (some 5.7 billion people) are living under autocratic rule, a big jump from 48% ten years ago. This trend towards authoritarianism can...

Science

A Nasa rover has reached a promising place to search for fossilised life on Mars

While we go about our daily lives on Earth, a nuclear-powered robot the size of a small car is trundling around Mars looking for fossils. Unlike its predecessor Curiosity, Nasas Perseverance rover is explicitly intended to...

The rising flood of space junk is a risk to us on Earth – and governments are on the hook

A piece of space junk recently crashed through the roof and floor of a mans home in Florida. Nasa later confirmed that the object had come from unwanted hardware released from the international space station. The 700g,...

Peter Higgs was one of the greats of particle physics. He transformed what we know about the building blocks of the universe

Peter Higgs, who gave his name to the subatomic particle known as the Higgs boson, has died aged 94. He was always a modest man, especially when considering that he was one of the greats of particle physics the area of...

Could a telescope ever see the beginning of time? An astronomer explains

The James Webb Space Telescope, or JWST for short, is one of the most advanced telescopes ever built. Planning for JWST began over 25 years ago, and construction efforts spanned over a decade. It was launched into space on...

US media coverage of new science less likely to mention researchers with African and East Asian names

When one Chinese national recently petitioned the U.S. Citizenship and Immigration Services to become a permanent resident, he thought his chances were pretty good. As an accomplished biologist, he figured that news...

Technology

Lawyer Accuses DOJ of 'Obvious Disdain for Privacy' in Tornado Cash Case

Amanda Tuminelli, legal counsel for the DeFi Education Fund, has strongly criticized the DOJs apparent disregard for privacy and emerging technologies in its ongoing case against Tornado Cash. Critique of DOJs Technical...

Australia Set to Unveil Spot Bitcoin ETFs, $4 Billion Inflows Projected

Australias top exchange, the ASX, is poised to approve its first spot in Bitcoin ETFs. This could potentially unlock $3 to $4 billion in initial inflows over the next three years, bolstering the countrys robust crypto...

Tesla Cybertruck Triumphs in Off-Road Challenge, Reveals Enhanced Features

Teslas Cybertruck recently demonstrated its superior off-road capabilities in a video featuring new adjustments for pitch and angle to boost its performance on challenging terrains. Cybertruck Outperforms in Rigorous...

China Beat South Korea in OLED Panel Shipments for Small Gadgets

China reportedly defeated South Korea in the shipment of organic light-emitting display panels, or OLED, for IT gadgets. The Chinese makers outdid Korea for the first time in the first quarter of 2024. New Records for...

LG Uplus, Kakao Mobility EV Charging Joint Venture Approved by the FTC

LG Uplus and Kakao Mobilitys joint venture to operate electric vehicle charging stations has been approved by the Fair Trade Commission. The antitrust regulator approved the JV on Monday, April 29. FTCs Crucial...