The convergence of geopolitical tension, continued disruption to the supply chain and the labor market as well as the lingering presence of the COVID-19 pandemic is pushing transportation costs into the stratosphere, meaning businesses must alter their approaches to survive.
The Wall Street Journal reported North American oil-and-gas companies have more than $200 billion of debt maturing over the next four years, starting with more than $40 billion in 2020, according to Moody’s.
The Wall Street Journal reported that as the shale boom plateaus and demand for crude oil increases, supply worries are increasing.
The Wall Street Journal reported that U.S. crude oil prices have climbed to more than $70 a barrel as suppliers have capped production and stockpiles shrink.
Bloomberg reported that fund manager Franklin Templeton Investments has a bullish outlook on rising crude prices and is buying shares of independent oil production and exploration companies.
According to a Fitch Ratings report, Q4/15 results for U.S. banks showed generally lower net income affected by market volatility, interest rate uncertainty and pressures in oil and gas.
Bloomberg reported oil dropped below $30 a barrel in New York for the first time in 12 years on concerns that turmoil in China’s markets will curb fuel demand.
In a Bloomberg report, Morgan Stanley said that continued appreciation of the U.S. dollar could push Brent oil prices to as low as $20 a barrel.
Bloomberg reported oil speculators are buying options contracts that will only payout if crude drops to a low as $15 a barrel next year, the latest sign some investors expect an even deeper slump in energy prices.