Oil, Gold & Silver Prices

Further bad news for Oil producing countries.....

Saudi Arabia could be bankrupt by 2020 – IMF

The Middle East’s biggest economy, Saudi Arabia may run out of financial assets within the next five years if the government maintains its current policies, warns the International Monetary Fund.
Saudi Arabia is expected to run a budget deficit of 21.6 percent in 2015 and 19.4 percent in 2016, according the IMF’s latest regional economic outlook.

The country needs to adjust spending, the IMF urged.

OPEC members Saudi Arabia, Iran, Iraq, Kuwait, Qatar, UAE, Algeria and Libya have all seen their revenues drop sharply as a result of a decline in oil prices.

Saudi Arabia is currently facing a budget deficit for the first time since 2009. The crude price decline has strongly influenced the kingdom’s economy since oil sales account for about 80 percent of its revenues. It has prompted the government to cut spending, delay projects and sell bonds.

The country’s net foreign assets fell by about $82 billion from January to August. The government sold state bonds worth $15 billion (55 billion riyals) this year.

Source - https://www.rt.com/business/319465-saudi-bankrupt-projection-imf/

Thank U Both of u...+++

is that sign of world economic crisis like 2007 era...

No, in 2007/08 Oil prices were at all time high. It was opposite.

Thing are not bad presently.
China has big impact on world markets also now. ( in several ways).
Since China demand production is also lower, it helps to keep prices down in Copper, Oil etc.

So it helps some companies in other countries.

This is a twisted game.

chutiputha wrote:Thank U Both of u...+++

is that sign of world economic crisis like 2007 era...

A 'victory for all of the planet': Nations pledge to slow global warming in historic pact

Nearly 200 nations adopted the first global pact to fight climate change on Saturday, calling on the world to collectively cut and then eliminate greenhouse gas pollution but imposing no sanctions on countries that don't.

The "Paris agreement" aims to keep global temperatures from rising another degree Celsius (1.8 Fahrenheit) between now and 2100, a key demand of poor countries ravaged by rising sea levels and other effects of climate change.

Loud applause erupted in the conference hall after French Foreign Minister Laurent Fabius gaveled the agreement. Some delegates wept, others embraced.

Read more

Kiths,

This is one of the best news I heard for long time . Thanks for info.

I guess this is related to oil also.
But i/ think this post deserves a Thread of it own . This is an important one.

Can you do so please?

කිත්සිරි ද සිල්වා wrote:A 'victory for all of the planet': Nations pledge to slow global warming in historic pact

Nearly 200 nations adopted the first global pact to fight climate change on Saturday, calling on the world to collectively cut and then eliminate greenhouse gas pollution but imposing no sanctions on countries that don't.

The "Paris agreement" aims to keep global temperatures from rising another degree Celsius (1.8 Fahrenheit) between now and 2100, a key demand of poor countries ravaged by rising sea levels and other effects of climate change.

Loud applause erupted in the conference hall after French Foreign Minister Laurent Fabius gaveled the agreement. Some delegates wept, others embraced.

[url=/global-climate-accord-paris-may-hours-away-072708485--finance.html]Read more[/url]

Futures 5:59 PM EST 12/11/2015

--------------- LAST

Crude Oil---------35.36 $
Brent Crude------38.27 $
Gold------------1073.9 $

http://markets.wsj.com/

Why oil going dwn,,

guruji wrote:Why  oil  going  dwn,,

http://www.nytimes.com/interactive/2015/business/energy-environment/oil-prices.html?_r=0

Futures 9:25 AM EST 12/14/2015
-------------- LAST

Crude Oil---------35.18 $
Brent Crude------37.28 $
Gold------------1071.9 $




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Futures 11:11 PM EST 12/14/2015
-------------- LAST

Crude Oil---------36.22 $
Brent Crude------37.97 $
Gold------------1064.2 $




http://markets.wsj.com/

LIOC share price will escalate!!!

Futures Futures11:46 AM EST 12/17/2015

-------------- LAST

Crude Oil---------34.97 $
Brent Crude------37.92 $
Gold------------1053.1 $




http://markets.wsj.com/

Futures Futures11:46 AM EST 12/17/2015

-------------- LAST

Crude Oil---------34.84 $
Brent Crude------37.83 $
Gold------------1052.1 $




http://markets.wsj.com/

Futures 12:14 PM EST 12/17/2015

-------------- LAST

Crude Oil---------34.68 $
Brent Crude------37.75 $
Gold------------1050.7 $




http://markets.wsj.com/

Thanks nihal.

Oil heads for third straight weekly loss as supply weighs

Oil edged down on Friday as bearish sentiment driven by oversupply rattled the market and was set to lead prices to a third straight weekly drop, the longest losing streak in four months.

Global benchmark Brent crude traded 1 cent lower at $37.05 a barrel at 1455 GMT. U.S. crude futures fell to a near seven-year low of $34.41 a barrel but later recovered to $34.93, down 2 cents on Thursday's close.

The global supply glut that brought prices close to 11-year lows this week means Brent will post losses for a third consecutive year, the first time that has happened since exchange-based oil trading started in the 1980s.

West Texas Intermediate (WTI) futures are set for a second straight yearly loss, the first time that will have happened for the U.S. oil pricing benchmark since 1998.

"Prices are falling on continued bearish sentiment and maybe WTI has fallen on the conviction that it was priced too high against Brent," said Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt.

The WTI-Brent spread fell to the lowest in 11 months earlier this week at $1.10 a barrel. The differential has since recovered to $2.10 as WTI made bigger losses.

Traders were preparing for even lower crude prices next year by taking up more put options to sell U.S. crude in February should prices fall to $30, $25 or even $20 per barrel, according to Reuters data.

Prominent oil trader Pierre Andurand said prices could fall below $25 a barrel in the first quarter of 2016.

"Recent developments on the supply side continue to point toward inventory builds that will put pressure on oil prices to bring them further down to below $30/bbl (barrel) and possibly at/below $25/bbl in the first quarter of 2016," Andurand wrote in a letter reviewing the Andurand Capital Management fund's performance through November, seen by Reuters.

Russia, one of the world's top oil producers, said on Friday it was not considering coordinating its output policy with OPEC members, adding the organisation was not exerting as much influence as it did in the 1970s and 1980s.

Russia has long maintained informal contacts with OPEC and hinted in the past it might be ready to cut oil production to prop up prices.

The seemingly unstoppable decline in oil is raising concerns about investment in future supplies, IEA Executive Director Fatih Birol said on Friday in Singapore.

"The current low oil price makes me worried because it means lower investments in new oil projects," he said.

"This year, oil investments declined more than 20 percent and more importantly we expect it will decline next year as well," Birol said. "We have never seen in the last 30 years oil investments decline two years in a row in the world."

Source

Futures 5:18 PM EST 12/18/2015

-------------- LAST

Crude Oil---------34.55 $
Brent Crude------37.04 $
Gold------------1065.6 $




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Futures 10:42 PM EST 12/20/2015

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Crude Oil---------34.55 $
Brent Crude------36.96 $
Gold------------1068.4 $



http://markets.wsj.com/

Battered oil wins respite, lifts stocks

World stock markets eked out small gains on Tuesday, lifted by a recovery in oil prices from 11-year lows as investors unwound some of their bearish bets on the battered commodity.

European stock markets followed Asia higher. The pan-European FTSEurofirst 300 gained 0.4 percent after two days of falls while U.S. stock futures suggested Wall Street shares may build on Monday's rally.

Oil stocks such as BP and Royal Dutch Shell rallied 2 percent as oil prices showed signs of stabilizing after a fall on Monday to new lows.

"The oil price is still the big driver of market sentiment at the moment for stock markets, but I'm not sure if it will hold above those lows, given the concerns about a glut of supply," said Hantec Markets' analyst Richard Perry.

The dollar was steady against the euro and yen. Traders were looking ahead to U.S. economic data for fresh direction although the approaching holiday season kept ranges tight.

Brent crude prices looked set to make the first daily gains in five, keeping oil at the top of investors' watch list.

Brent futures traded up 17 cents at $36.52 a barrel, recovering from an 11-year low of $36.04 hit on Monday. U.S. West Texas Intermediate (WTI) crude futures were 32 cents higher at $36.13 a barrel, up from 2009 lows of $33.98 hit in the previous session.

Read more

Futures 3:52 AM EST 12/23/2015

Crude Oil-------36.46
Brent Crude----36.95
Gold----------1072.0

Oil up after U.S. crude stocks drop

Oil prices rose on Wednesday, underpinned by an unexpected fall in U.S. crude inventories, but were still close to multi-year lows as supplies remained abundant and as OPEC lowered the demand outlook for its exports.

At 1448 GMT, Brent crude futures were up 87 cents at $36.88 a barrel, while West Texas Intermediate (WTI) futures CLc1 were up 88 cents at $37.02.

A day earlier Brent touched $35.98, its lowest since July 2004.

Read more

Futures 9:24 AM EST 12/24/2015

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Crude Oil---------38.09 $
Brent Crude------38.35 $
Gold------------1074.6 $



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Futures 1:59 PM EST 12/24/2015

-------------- LAST

Crude Oil---------38.12 $
Brent Crude------38.39 $
Gold------------1075.8 $



http://markets.wsj.com/

Futures 10:29 AM EST 12/28/2015

-------------- LAST

Crude Oil---------36.84 $
Brent Crude------37.24 $
Gold------------1070.1 $



http://markets.wsj.com/

Oil rebound fizzles, sending global shares lower

[size=18]Global stock markets fell on Wednesday as oil prices slumped back toward 11-year lows, sapping investors' appetite for risky assets and hurting the shares of mining and energy companies.

Stock markets rallied the previous day as oil prices rebounded on prospects for lower temperatures on both sides of the Atlantic. But on Wednesday benchmark Brent crude slid back below $37 a barrel, with investors worried about slowing demand and high supplies.

The fall in oil prices has been a major driver of financial markets this year, hammering energy companies, lowering inflation expectations and reinforcing bets on loose monetary policy in Europe and a slow tightening in the United States.

The pan-European FTSEurofirst 300 index fell 0.5 percent, while the euro zone's blue-chip Euro STOXX 50 index declined by 0.6 percent, having both gained in the previous session.

Asian shares unwound earlier gains, with continued weakness in Chinese stocks. MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent, on track for a flat monthly performance and down 12 percent for the year.

"The ongoing weakness in the oil price is dragging down the markets," said John Plassard, senior equity sales executive at Mirabaud Securities in Geneva.

Crude prices have plunged by two-thirds since mid-2014 as soaring output from the Organization of the Petroleum Exporting Countries (OPEC), Russia and the United States led to a global surplus of between half a million and 2 million barrels per day.

Spreadex analyst Connor Campbell added that a warning by the head of the International Monetary Fund in a newspaper column that global economic growth would be disappointing next year was further pressuring markets.

The yen, which is traditionally sought at times of market uncertainty, inched up to 120.425 yen per dollar. That left it close to a two-month high of 120.05 yen hit last week.

DOLLAR LAGGING

The dollar was 0.1 percent lower against a basket of major currencies, adding to a weak end to the year that has seen it fall more than 2 percent in just under a month.

BNP Paribas currency strategist Michael Sneyd said there had been a disconnect between the dollar and U.S. Treasury yields since the Federal Reserve raised interest rates for the first time in almost a decade earlier this month.

"Since the Fed's liftoff, the dollar has lagged behind markedly. We would put that down to most market participants being out of the market at the moment," he said.

China's yuan fell to its weakest in over four years in offshore trading, after the People's Bank of China set a lower midpoint. Sources told Reuters the PBOC was temporarily suspending some foreign banks' foreign exchange, in an effort to curb the yuan's depreciation.

China's blue-chip CSI300 index was down 0.2 percent, while the Shanghai Composite Index was flat, ahead of December manufacturing activity surveys in the coming days which are expected to show the economy remains sluggish.

Japan's Nikkei ended the country's final trading day of the year up 0.3 percent, off session highs but still gaining 9.1 percent for 2015. But it shed 3.6 percent in December.

On the last trading day of 2015 for European bond markets, 10-year German Bund yields were flat at 0.63 percent and up nearly 10 basis points on the year.

Gold ticked higher, with gains capped by weaker oil, although the metal remained on track for a third successive yearly fall.[/size

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