Submitted by Rakesh Upadhyay via OilPrice.com,
Warren Buffett has been consistently wrong on oil, but many experts are calling a bottom on oil prices now that the investor extraordinaire has upped his ante in Phillips 66, betting that he can’t be wrong three times in a row.
- 2015 and start 2016 “worrying” for markets- Gold’s long term performance strong in all currencies (see table)- “Improved performance in market for gold coins”- “Demand for U.S. Mint issued gold coins rose 45.6% y/y in weight terms”- “2015 the third busiest year over the last ten years”- Gold has key role of a major diversifier in portfolios
As was triumphantly announced over the weekend by both parties (making one wonder who actually benefited), after years of U.S. sanctions, Iran is now free to export as much of its oil as it wants after the International Atomic Energy Agency said the country had curbed its ability to develop a nuclear weapon leads to lifting of international sanctions. And while the end of sanctions also opens the door to foreign investors into country’s oil sector, most importantly it allows the country to flood the world with its oil.
Iran’s deputy oil minister has announced that the countries oil market will be taken back from Saudi Arabia following the removal of international sanctions on Iran. Amir Hossein Zamaninia said that the removal of sanctions has allowed Iran “the possibility to export 500 thousand barrels of crude oil.” Mehrnews.com reports: Zamaninia emphasized that the country’s production and exports capacity of oil will reach one million barrels per day within a few months; “during the sanction years, Iran lost a portion of its oil market with countries like Saudi Arabia conquering the Iranian oil marke
Submitted by Raul Ilargi Meijer via The Automatic Earth blog,
The first thing that popped into our minds on Tuesday when WTI oil briefly broached $30 for its first $20 handle in many years, was that this should be triggering a Gawdawful amount of bets, $30 being such an obvious number. Which in turn would of necessity lead to a -brief- rise in prices.