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‘US crude continues to be an unstoppable force’: Here’s a simple guide to navigating the oil market in 2019
The energy market is volatile by nature, but this year was marked by especially sharp price movements. Here's what is expected to happen in 2019.
A hedge fund run by one of the world’s most famous oil traders is the latest major victim of surging market volatility
Pierre Andurand, the fund's manager, is an oil market veteran who made his name during the financial crisis with bets against oil.
Less than two weeks before US sanctions against Iran kick in, OPEC said the oil market could shift toward a surplus and signaled it would adjust production accordingly if that were the case.
Oil prices tumbled Wednesday to their lowest level since September after government data showed US inventories rose more than expected and as stocks paused an earlier rebound.
While Saudi Arabia isn't likely to follow through with what many saw as a veiled threat to pressure the energy market if the West imposes sanctions against Riyadh, analysts aren't ruling that scenario out.
Oil prices rallied to near four-year highs Wednesday, erasing earlier losses as markets weighed the largest rise in US crude inventories this year against looming oil sanctions against Iran.
Oil prices slid Monday after inventories at the US crude delivery hub jumped last week, adding to demand concerns.
Crude prices rebounded Friday amid expectations for US sanctions against Iran, which would cut off oil imports from the country, and a rise in global demand.
Oil prices slumped Wednesday after Beijing announced it would retaliate against the Trump administration with a 25% tariff on another $16 billion worth of US products, including crude exports to China.
Oil prices rallied Monday as markets braced for the reimposition of US sanctions against Iran. Other sanctions, including those targeting Iranian crude, will resume in November.