This blog is dedicated to discuss the political economy of oil markets with a critical and historical approach. Oil has become a unique commodity in modern capitalism. Its market has been driven by transnational corporations and financial markets speculation. Articles, papers and personal comments on the global oil market framework, its fundamentals, supply and demand, cartels, imperialist policies, and the underlain class struggle issues are being daily gathered.
U.S. government data showing an increase in fuel stockpiles knocked 95 cents off U.S. light sweet crude to $58.09 a barrel.Talk of interest rate cuts in Europe, which is driving U.S. Treasury yields lower and reigniting speculation the U.S. Federal Reserve may be near the end of its interest rate hike cycle is also seen as supportive for stocks.
posted by Aberto Handfas | 7:11 AM
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