Tag: Oil

Oil

US May Lease Additional Crude Oil Storage

The Trump administration is pleased with initial results of its actions to secure crude oil for the national stockpile while easing storage pressures on the struggling oil companies, and might conduct similar operations in the near future, Energy Secretary Dan Brouillette said Thursday. Speaking during a virtual meeting of the Secretary of Energy Advisory Board, […]

In the FICC of It

This week’s podcast features Colin Lambert and Julie Ros taking a look at the week’s event, along with a bit of inter-office banter. Lambert kicks off by asking a question of Ros and the audience and, when he eventually gives the answer later in the podcast, the latter is quick to claim she was going […]

Texas Energy Regulator Delays Oil Production Vote

A divided Texas Railroad Commission Tuesday postponed its vote on limiting oil production in the nation’s largest oil-producing state, with the majority preferring to conduct additional due diligence and avoid potential legal minefields. “We need to get information correct before we make a move,” TRRC chairman Wayne Christian said, a stance backed by fellow commissioner […]

Congress Hits a Speed Bump on the Way to Spending Nearly $2 Trillion

As US cases of the coronavirus now double every two and a half days, more than 84 million Americans are spending a bleak Sunday night facing a week – and maybe months – ahead, either off the job or teleworking, separated from relatives and friends, seeing paralysing discord on Capitol Hill where the virus is […]

Virus Outracing Efforts to Measure, Contain, Compensate

The furious governmental efforts at all levels to cope with the increasing spread of the coronavirus as a disease and as a crippler of the economy Friday did not seem to be keeping up with the steepening curve of infection. As more governors close down non-essential business in their states to keep individuals separated as […]

Markets Collapse, Volatility Spikes, as Oil Adds to Virus Concerns

FX volatility jumped again overnight in Asia with volumes also leaping higher as dealers report activity across the region surpassing recent highs. The latest bout of activity was triggered by a 30% collapse in the oil price as Saudi Arabia responded to Russia’s decision on Friday to increase oil output rather than agree with OPEC […]

Survey: Oil to Drive Ruble Price in 2017

The biggest issue facing the Russian ruble in 2017 is the price of oil, according to a Bloomberg survey of FX executives released today.

Of those polled, the majority (or 51%), say oil prices will have the biggest effect on the currency, with 83% of the executives saying that they feel that the ruble will be more correlated to oil than emerging markets currencies this year.

Of less concern in relation to the ruble were Russian Central Bank policies and geopolitics, which only 22% said they were concerned about, and just 5% of respondents said that they are concerned about US interest rate hikes.