Commodities
Australia was, and is still known as the United States’ “deputy sheriff” in the Asia-Pacific region. That perception was reinforced during John Howard administration, when the Australian prime minister became a key supporter of the 2003 Iraq War, a war started by President George W Bush under the pretext that Saddam Hussein possessed weapons of […]
... written on May 22 2020Coronavirus has left a trail of destruction across the world. No country is spared, including economic powerhouse United States and China. The last thing the world needs now is escalating tensions between both superpowers over the endless blaming game of China’s handling of the pandemic. But it appears the trade war is about to explode […]
... written on May 16 2020Before the Coronavirus outbreak, Donald Trump was using a very powerful tool to get what he wanted from Saudi Arabia – Twitter. He would send tweets to express his displeasure over the crude oil prices and gave orders for OPEC to do the necessary. In essence, the U.S. president controls Saudi to fulfil his wishes […]
... written on May 02 2020On Monday, investors, analysts, economists and even ordinary people were flabbergasted when the WTI (West Texas Intermediate) crude dropped to not only below US$10 a barrel, but also below zero to the negative territory. It was so bad that at one point, the price hit “negative US$40.32”, before ending the trading day at “negative US$37.63” […]
... written on Apr 22 2020When the crude oil dropped to below US$30 a barrel, some said it’s impossible for it to reach US$20. But when it finally breached the US$20 level, they said it’s absolutely impossible to go US$10. Guess what, the US$10 a barrel of oil has just been breached. On Sunday, the U.S. benchmark – WTI (West […]
... written on Apr 21 2020The backdoor government of Muhyiddin Yassin has extended the lockdown, or the MCO (movement control order) by 2 weeks until April 14 in order to contain the spread of Covid-19. In his televised address, the prime minister urged Malaysians to stay at home. He kept saying his government had no choice but to extend the […]
... written on Mar 27 2020In a world called the planet Earth, three powerful men determine, influence and control the world oil prices. They are U.S. President Donald Trump, Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman. Until 2018, Trump was still the most powerful of the trio, where his foreign policies – through Twitter’s tweets – […]
... written on Mar 18 2020Be prepared for US$20 oil in 2020. Ali Khedery, a former ExxonMobil’s senior advisor for the Middle East, said so and now even Goldman Sachs warned that twenty bucks for a barrel of crude oil is absolutely possible. On Sunday, oil prices crashed by more than a third or 30% – the worst one day […]
... written on Mar 09 2020Oil prices dropped more than 10% on Friday (March 6) when the U.S. WTI (West Texas Intermediate) crude closed at US$41.28 – the lowest since August 2016. More importantly, it was WTI’s biggest one day percentage drop since November 28, 2014. Meanwhile, international benchmark Brent crude lost 9.4% to close at US$45.27 a barrel – […]
... written on Mar 08 2020Unlike the economy of Abu Dhabi, the big brother and richest emirate in the seven-emirate United Arab Emirates (UAE), Dubai’s economy is not directly dependent on oil. Dubai depends heavily on luxury real estate, tourism, logistics, and financial services for revenues. However, Dubai’s economy suffers indirectly when crude oil prices go south. Surprisingly, despite […]
... written on Feb 20 2020
