This blog is part four of a series that explores the intricate history of oil. 1973-1994: The Middle East Shrugs its Shackles It is important to understand that the oil industry is largely a Western invention and is very much American led. When America began making overtures to King Ibn Saud of Saudi Arabia in […]
When discussing oil, the Middle East immediately comes to mind. It is at the core of multiple current events occurring in the world, politically, religiously, economically, and in the energy market; therefore, it is no surprise that at the Platt’s Global Crude Oil Summit, there will be a session dedicated solely to core trends in […]
NYMEX crude financial contracts (WTI) settled at 99.6 USD/bbl on Tuesday this week, which is a high not attained in over a year. A number of factors could be at play to drive this price higher. One driver could be the political unrest in Egypt which came to a head just yesterday (on July 3rd) […]
Events in Egypt and the potential for this unrest to overflow to the neighboring regions sparked a disturbance among commodity analysts. A lot of analysts kindly added fuel to the public speculations that energy markets were facing a tremendous blow. Some of them were seeing the danger resulting from cuts in oil production in the Middle East. Others […]