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online.wsj.com - 7/8/2009

Oil Speculators Under Fire

— online.wsj.com — Policy makers on both sides of the Atlantic launched an effort to crack down on what they called speculation in oil markets, underscoring concerns that a sharp rise in oil prices could worsen the global economic downturn. In Washington, the Commodity ... (more) Oil Speculators Under Fire

Commodities

Oil

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businessandmedia.org - 7/10/2009

Energy Expert: Oil to $20 a Barrel

— businessandmedia.org — Respected energy economist Philip Verleger makes case that oil will fall to levels not seen in over a decade. By Jeff Poor Business & Media Institute 7/8/2009 10:16:37 PM Send this page to a friend! (click here) There could be a potential “tax break” ... (more) Energy Expert: Oil to $20 a Barrel

Government

Oil

Comments vote downundo vote up Newmark's Door found this 7/10/2009found this

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ft.com - 6/29/2009

FT.com / Global Economy - Oil watchdog cuts demand forecasts

— ft.com — The worst recession in decades will curtail oil demand for years to come, the International Energy Agency predicted on Monday as it cut sharply its forecasts for world consumption and declared that the threat of a supply crunch had receded. Oil ... (more) FT.com / Global Economy - Oil watchdog cuts demand forecasts

Commodities

Oil

Global Downturn

Comments vote downundo vote up FT Alphaville found this 6/29/2009found this

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‘Rogue broker’ blamed for oil spike
FT Alphaville — A startling spike in oil prices on Tuesday to their highest this year was caused by a rogue broker who placed a massive bet in the Brent oil market, triggering almost $10m (€7m) of losses for his company. PVM Oil Associates, the world’s largest over-the-counter oil brokerage, said on Thursday it had been the “victim of unauthorised trading”. The privately owned company said that as a result of the unauthorised trades it had been forced to close substantial volumes of futures contracts at a loss.

Links 7/3/09
naked capitalism — ... succeed in getting it to move does not mean you brought it back to life. That ’30s Show Paul Krugman, New York Times Banks own the US government Dean Baker, Guardian (hat tip reader John D) China FDI Faces ‘Unprecedented Difficulties,’ Government Says Bloomberg (hat tip DoctoRx) Rich Harvard, Poor Harvard Vanity Fair (hat tip reader Marshall) Banks' Bogus Bonuses Heidi Moore, The Big Money. A solid piece. ‘Rogue broker’ blamed for oil spike Financial Times Recovering ABS may relapse if TALF ...

Bike Messengers And Oil
MaxedOutMama — The impact of unregulated futures exchanges can be intuitively seen in this story: The startling spike in oil prices to their highest level this year on Tuesday was caused by a rogue broker who placed a massive bet in the Brent oil market, triggering almost $10m (€7m) of losses for his company. ... Oil traders in London and New York said the “unauthorised trading” explained the exceptional spike in business activity and prices in the early hours of Tuesday that some initially thought must have been caused ...

Werewolves of London
Streetwise Professor — ... : Unauthorised trading in oil futures in London and the corridors of power in the US Congress may not seem to have much in common. But London’s markets have become easy targets for US lawmakers eager to show that loose practices on foreign energy markets are hurting US consumers. Traders, so the theory goes, are carrying out nearly half the world’s global crude oil futures trades on ICE Futures Europe under the eyes of the Financial Services Authority. The  PVM case  could re-ignite such concerns, just as US politicians are again railing against “excessive speculation” in ...

July 4th Weekend Linkfest!
The Big Picture — ... outlooks will be key amid dark earnings: With expectations low, some market watchers expect surprises to the upside  (Marketwatch) • Michael Lewis: The Man Who Crashed the World (Vanity Fair) More on the AIG FP debacle comes to light • Is Goldman Legally Frontrunning Its Clients? (Zero Hedge) • Shorts Story: Five names to bet against now (Barron’s)  Short Alert has five short recommendations: JCOM, MIDD, CMP, LRN, and PTV. • ‘Rogue broker’ blamed for oil spike (FT) • Why Didn’t Canadian Banks ...