Want to retire, but need to keep working? Sometimes you can’t do either. ‘We’re dreaming of a new life’: My wife and I have $2.5 million saved. Is it a bad idea to get married?Īppeals court scales back order squelching Biden administration contact with social media platforms ‘I’m conflicted’: My fiancé earns less than me, and racks up credit-card debt. ‘She needs the money for care’: My 103-year-old grandmother’s adviser bought 5 bank stocks. ‘The dream of homeownership is alive,’ says BofA’s head of retail lending. View the futures and commodity market news, futures pricing and futures trading. Should I follow the 4% rule if I don’t want to leave an inheritance? CL00 A complete Crude Oil Continuous Contract futures overview by MarketWatch. and other OECD countries,” said Steeves.I’m retiring at 65 with $2 million, an $850,000 home and $3,500 a month in Social Security. “Demand growth could roar back if omicron peaks in the next month in the U.S. He believes the omicron variant is the “wildcard” to the “extend that it has yet to peak in the U.S., even as some metropolitan areas are starting to see signs” of it peaking. However, some analysts believe the situation between Russia and Ukraine would need to worsen further for oil to reach triple digits.Ĭrude could go to $100 if Russia was to invade Ukraine, and there is “the perception of risks to oil exports, or sanctions from western powers that impact energy imports,” Marshall Steeves, energy markets analyst at IHS Markit, told MarketWatch. Read: Tensions between Russia and Ukraine aren’t fully priced into commoditiesįor oil, “I believe the $100 is a done deal now, regardless of escalation,” Aslam said. These geopolitical tensions are creating threats for supply disruptions, which many traders think is a negative factor but positive for oil prices.” President Joe Biden is “adopting a strong stance against Russia, and he has vowed to punish Russia if it attacks Ukraine. The geopolitical situation is “becoming worse day by day,” said Aslam. Unrest in Kazakhstan earlier this month raised concerns over the nation’s oil production, an attack on oil infrastructure in the United Arab Emirates, and a temporary disruption to crude flows through the Kirkuk-Ceyhan pipeline have contributed to the climb in oil prices. The oil market has also been closely following geopolitical developments, given their potential impact on global supplies. “The regional lockdowns that were introduced have only lasted for a very short period.”Īnd if the end of the pandemic is in sight, as some believe, that would mean more demand for oil, he said. While there have been some travel restrictions, those are being rolled back, he said. Meanwhile, the coronavirus omicron variant “isn’t adversely influencing oil demand” as previously anticipated, Aslam said. (2017-2028) 5.3 Global Crude Tall Oil Price by Type 5.3.1 Global Crude Tall Oil Price by Type. See Good news for uranium: Nuclear energy has record reliability, despite past disasters The MarketWatch News Department was not involved in the creation of this content. “This is creating further pressure on producers who are failing to find investors for their projects.” Secondly, “investment and lending in the fossil fuel space have also dropped dramatically due to a shift towards renewable energy,” he said. “So clearly, there isn’t much spare capacity left, and supply issues in the short term are likely to resist.” OPEC’s spare production capacity has fallen to 4 million barrels per day from its previous high of 11 million barrels per day, said Aslam. “The cartel doesn’t see any need to increase supply aggressively, and it has also said that it alone can’t bring higher oil supply.” The first is a “supply issue” linked to the Organization of the Petroleum Exporting Countries, he said. There are four factors behind oil’s rise, Naeem Aslam, chief market analyst at AvaTrade, explained in a recent market update. So far this year, prices based on the front-month contracts are up more than 15% for WTI, and nearly 14% for Brent, according to Dow Jones Market Data. However, prices have rallied sharply this week, though finished modestly lower on Thursday. benchmark West Texas Intermediate crude hasn’t traded at triple-digit prices since July 2014. CLJ23 A complete Crude Oil Apr 2023 futures overview by MarketWatch. Front-month global benchmark Brent crude hasn’t settled above $100 a barrel since September 2014, while U.S.
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