Venezuelan military rule of the state-run oil company PDVSA took an ugly turn after the Venezuelan military arrested two Chevron workers for what they say is graft and corruption. This comes as the American Petroleum Institute (API) reports a trifecta of draws in petroleum supply, and Morgan Stanly warning that U.S. refiners have had their fill of light shale condensate oil, something we have been warning about as well.
The tariff the Trump Administration plans to slap on Canadian lumber imports should lead to a further weakening of the Canadian dollar, a move that precious metals expert Michael Ballanger says can only help the bottom line of Canadian gold producers.
Crude oil prices are dead with Rig-or Mortis, or the adding of oil rigs weigh on market sentiment. Shale producers are expected to continue leverage up to the hilt with some producing the type of oil that no one really wants with hope that prices do not crash and drive them into bankruptcy. The confidence of the shale producers comes from OPEC which is astounding the world by adhering to production cuts.
The United States will impose preliminary anti-subsidy duties averaging 20% on imports of Canadian softwood lumber, Commerce Secretary Wilbur Ross said on Monday, escalating a long-running trade dispute between the two neighbors.
Get ready for inflation! Lumber logs a 12-year high.
The double-digit-dollar decline in the value of Lumber Liquidators' shares has wiped more than 20% off the value of the company in the wake of Sunday’s 60 Minutes documentary alleging the U.S. retailer of hardwood flooring had installed Chinese-made laminate flooring containing formaldehyde at unacceptably high levels.
North American mills are sawing lumber at the fastest pace in six years after a recovering U.S. housing market, a beetle infestation in Canada and increasing Chinese demand drove the biggest price surge in two decades.
Lumber futures rose to a six-year high, extending a rally that is the biggest of any commodity in 2012, on mounting signs of tighter supplies as U.S. home construction rebounds.
Explaining the tradable relationship between home sales and lumber.