oil price war

The losers — and even bigger losers — of an oil price war between Saudi Arabia and Russia

March 12, 2020

CNBC An intensifying oil price war between Saudi Arabia and Russia has created “very painful” market conditions for the world’s largest crude producers, analysts have told CNBC, with many braced for sliding revenues over the coming months. International benchmark Brent crude traded at $32.97 Thursday, down almost 8%, while U.S. West Texas Intermediate (WTI) stood at $30.40, around 7.8% lower. Oil prices have

Oil traders stand to make fortunes as more oil hits market

March 11, 2020

Houston Chronicle Saudi Arabia and Russia’s price war is handing over a multi-billion dollar profit opportunity to the world’s largest oil traders. With both Riyadh and Moscow outdoing each other by pumping more oil into an already flooded market, crude prices have flipped. A new price structure, called a contango, allows the traders to make easy money by buying crude

The losers — and even bigger losers — of an oil price war between Saudi Arabia and Russia

Oil traders stand to make fortunes as more oil hits market

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