What’s Keeping Oil Prices Down – for Now, at Least
Source: http://feeds.moneymorning.com/~r/moneymorning/jOLe/~3/w_BTygJMyZ0/Posted on Monday, March 4th, 2013 | In Uncategorized
Contributed by: Money Morning (http://moneymorning.com) -
Tags: energy price, Energy Prices, energy prices 2013, oil price, Oil Prices, oil prices 2013
Sequestration, production concerns in China and the political mess in Italy have combined to keep oil prices down, says Money Morning Global Energy Strategist Dr. Kent Moors.
Speaking on CNBC, Moors said the oil market is now "slightly oversold."
Moors said increased demand and less refinery capacity being used could increase the oil crack spread in the United States, leading to higher energy prices even if oil prices fall.
Asked why energy prices are so high, Moors said there are six or seven major factors.
"The bottom line," he said, "is we have to stop looking at Western Europe and North America when we talk about oil demand because oil demand is being driven essentially worldwide by completely different regions."
Among them, Moors said, is West Africa, where oil demand is spiking.
Watch the accompanying video to hear Moors talk more about global oil prices and how they will affect you.
Speaking on CNBC, Moors said the oil market is now "slightly oversold."
Moors said increased demand and less refinery capacity being used could increase the oil crack spread in the United States, leading to higher energy prices even if oil prices fall.
Asked why energy prices are so high, Moors said there are six or seven major factors.
"The bottom line," he said, "is we have to stop looking at Western Europe and North America when we talk about oil demand because oil demand is being driven essentially worldwide by completely different regions."
Among them, Moors said, is West Africa, where oil demand is spiking.
Watch the accompanying video to hear Moors talk more about global oil prices and how they will affect you.
Editor's Note: Dr. Kent Moors just released a new report on the $20 trillion discovery in a small, southern Australia town that could deliver a deathblow to Iran and Saudi Arabia. The National Intelligence Community is following this story closely. China is redrawing its maps and building new alliances. And Washington, D.C. is trying to control this international chess match. This discovery could single-handedly cause powers to shift, while potentially transforming average Americans into millionaires. Moors “tells all” in this powerful interview.
About Money Morning (http://moneymorning.com)
Money Moves the Markets; Money Morning Lets You Move First We’re in the midst of the greatest investing boom in almost 60 years. And rest assured - this boom is not about to end anytime soon. You see, the “flattening of the world” continues to spawn new markets worth trillions of dollars; new customers that measure in the billions; an insatiable global demand for basic resources that’s growing exponentially ; and a technological revolution even in the most distant markets on the planet. The bottom line is this: With U.S. influence slipping, and the dollar declining as well, investors who think too narrowly about this transformation will face years of meager returns. But those who embrace this new global reality can make themselves very wealthy. # Over the next 25 years, America’s share of the worldwide economic pie will slip from 28% to 24%… # Even as Asia’s share almost doubles ;which means it will account for a whopping 55% of the global economy by 2030. The big brokerage firms are making a killing on the global boom. Yet Wall Street reserves the timeliest information - and the best profit opportunities - for its partners or wealthiest clients. And the Securities and Exchange Commission doesn’t help the everyday investor much either. The second sad fact is this: While you can buy any U.S. or Canadian stock you want, the SEC prohibits you from purchasing many of the available international stocks. The reason: Foreign companies that haven’t registered with the SEC are off-limits to most U.S. individual investors. Our worldwide research staff includes former investment bankers, international financiers, emerging markets specialists and veteran financial journalists. Our experts know that certain capital flows essentially act as a “leading indicator” of future profit opportunities. These are opportunities that you won’t be reading or hearing about anywhere else. Each weekday morning, in a readable style you can digest in just a few minutes, you will reap the benefits of our research and expert experiences. Indeed, Money Morning will bring you: # The latest reports on China, Japan, Emerging Europe, and the other global hot spots where most investor wealth will be created in the months and years to come… # Reports on companies you’ve likely never heard of - even though they’re poised to sell billions worth of their wares to “new middle class” customers around the world… # Information on the U.S. companies shrewd enough to cash in on this boom in global; # The latest developments in banking, interest rates, foreign investment and other global investing topics; # Advice on how to invest in currencies, precious metals, commodities and energy # Inside news on the hottest investments, including water, uranium and private equity… # And news on rules and regulations, financial trends and strategies - and any other “market intelligence” that you will need to become a shrewd-and-successful investor in the greatest global investing boom most of us will ever see. Money does move markets. But Money Morning lets you move first. |


