Sectarian violence in Iraq sent the price of oil skyrocketing on Thursday, propelling both Brent and West Texas Intermediate up more than two percent amid growing concerns about a threat to global supply.
After a delayed reaction to turmoil raging … Read the rest
America is poised to displace Saudi Arabia as the world’s top oil producer with fracking. With that could come a hobbling of Opec and unforeseen shifts in US foreign policy.
So rapid has been the change in its energy fortunes … Read the rest
Iraq is poised to flood the oil market by tripling its capacity to pump crude by 2020 and is collaborating with Iran on strategy in a move that will challenge Saudi Arabia’s grip on the Organisation of Petroleum Exporting Countries.… Read the rest
One piece of the jigsaw puzzle is missing to complete the deflation landscape across the West: a slide in oil prices. This is becoming more likely each month.
Turmoil across the Middle East and parts of Africa has choked supply … Read the rest