As the book closes Friday, January 20, 2017, on President Barack Obama’s two terms, here are the price averages during his tenure for some key commodity benchmarks, as well as the latest price. The commodities clock during President Donald Trump’s tenure will start ticking in earnest on Monday, January 23, and S&P Global Platts will update the same running averages accordingly.
Posts tagged ‘prices’
January 6, 2017 05:01 UTC
Maybe it’s time to scrap these oil vs. gold comparisons. It’s possible the historic relationship has collapsed into a new normal, and anybody trading an arbitrage expecting a return to the old norm might have a long, long wait.
We first took a year-end look at the spread between oil and gold several years ago, because they had long been seen as having a relationship that, over time, would drive them toward a standard ratio.
December 30, 2016 05:01 UTC
Apparently borrowing a page from the Trump playbook, the outgoing Obama administration filed a new trade enforcement action with the World Trade Organization against China earlier this month, alleging that the country has not met its market access commitments to the WTO for rice, wheat and corn.
December 21, 2016 05:01 UTC
The year started poorly for Russia, but it has certainly ended well.
In January, the price of oil was moldering — below $30/b on occasion. Given Russia’s dependence on oil and gas revenue, the budgetary outlook was bleak. Hillary Clinton was going to be elected as the next president of the United States. Sanctions against Russia, imposed over its role in the Ukraine conflict, would continue, and the EU would further frustrate Russian plans for major new gas pipelines and its goal of a total Ukrainian bypass.
December 13, 2016 05:01 UTC
Clearly, the alleged deal between OPEC members and other cooperative nations has generated a fair amount of optimism among market participants. However, given so many unknowns and the near term mentality of the agreement, what the future may hold with respect to production and prices is, to say the least, a moving target. Nonetheless, as prices are expected to rise, there is upside potential for production and internal rates of return (IRR), particularly in premier basins like the Permian.