cheaper oil

  1. 2,076 Posts.
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    cheaper oil means increased profits for most industries....... the price of oil affects so many industries - the transport industry, the delivery of goods by sea air or land, the mining industry etc etc.

    Hedge Fund Crude Bets Tumble Amid Surging Global Supply
    By Mark Shenk Aug 25, 2014 9:01 AM GMT+1000

    Speculators are the least bullish on U.S. crude oil prices in 16 months as refinery maintenance weakens demand at a time when Libya and Iraq are swelling global supplies.
    Futures dropped a fifth consecutive week after money managers reduced net-long positions in West Texas Intermediate, the U.S. benchmark grade, by 14 percent in the seven days ended Aug. 19, the Commodity Futures Trading Commission said.
    Prices sank below $95 on Aug. 19 for the first time in seven months as U.S. air strikes in Iraq helped reverse the advance of Islamic State fighters and the country’s Kurds work to increase oil shipments. Libyan output
 
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