Perhaps the most over-hyped and misused phrase in the trading world is “paradigm shift,” yet the proliferation of U.S. energy production has created just that. And it will take the world’s energy producers and consumers a while to get used to it.
The Arctic blast that has descended on the U.S. has been impacting commodity markets in more ways than one. Volume seems lighter perhaps causing a flash crash in gold and regional spikes in natural gas prices that will soon cost consumers plenty.
Should $100 oil be forgot and never brought to mind? Oil made one last attempt to go above $100 a barrel but backed off as we end the year. It was a year that saw a surge in U.S. oil production and record natural gas production.
T'was the last Energy Report before Christmas, and all through the pits, the rise in the oil market was giving traders a fit. Traders put on their positions with care, because with all of the fracking the supply would be there.
As we come to the end of 2013, it’s a good time to reflect on some of the biggest resources stories of the year. One that immediately comes to mind is the U.S. energy resurgence and its tremendous effect on oil and gas.
The euro advanced for a sixth day against the dollar, the longest streak in almost a year, as regional finance ministers met in an attempt to break a deadlock about a single resolution mechanism for failed European banks.