Oil Price Fluctuations Amid Economic Concerns and Geopolitical Tensions
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- Опубликовано: 13 сен 2024
- Oil prices touched $73 a barrel today and closed the week at $74 with Brent at only $76. Remember the Saudi’s want $80 plus.
Unemployment ticked up to 4.3 percent today triggering worries about recession and the U.S. economy. Oil prices declined along with the 10 year yield, treasuries more broadly, and a msssive sell off in equities across the stock market.
The move in oil prices is being exacerbated by rate moves in Treasuries and swings within the market.
A poorer than expected jobs report topped an already volatile week with the Fed meeting on Wednesday and Powell holding interest rates steady but signaling a cut in September.
Meanwhile Iran backed Hezbollah in Lebanon attacked Israel this week killing children in the Golan Heights. And Israel knocked out the leader of Hamas in Tehran, the capital of Iran. The Houthis in Yemen, also backed by Iran, continue to attack ships in the Red Sea.
Chevron gets major props from PetroNerds by putting their money where their mouth is and moving their headquarters from California to Texas. 💪 Nice work Mike Wirth!
The PetroNerds podcast is out and it’s hot! This is the home run keynote address given at the AAPL - American Association of Professional Landmen in Boston folks! This covers everything from oil prices to geopolitics and U.S. shale!
iTunes: podcasts.apple...
RUclips: • PetroNerds EP 112 | Ec...
If I could ask a favor could you slow it down a bit for me next time? You know what you want to say but seem to be in a hurry to say it. Imagine those viewers who don't know what you're going to say. We need to parse this opinion/data/info. Also never a good idea to film directly into the sun even when it's setting and very pretty. Just some bitching from your viewers is all. Please don't be deflated, I look forward to what you have to say, and I want you to be the best PetroNerd you can be. Next video you should question if an 800K+ downward revision to jobs created numbers is borderline malfeasance.