Oil price history and analysis updating
Originally published in Middle East Economic Survey. Parallels with earlier energy crises underscore US vulnerability to oil supply shocks today.
This summary of our research appeared in the Oil and Gas Journal the first in a series on Global Energy Security.
Most of the trading of oil on financial markets deals with oil future (paying now for oil to be delivered at a specific date in the future) rather than the spot (current) price.
They will increase total revenue." This article explains one of the major problems OPEC faces each time it meets.
The correlation between oil and share prices changes over time.
Historically, both have been negatively correlated. However, during the financial crisis of 2008-2010 and the associated macro-economic shocks, oil and share prices became positively correlated.
Benchmarks from Thomson Reuters include Brent (OILBRDT) and WTI (OILWTIN) crude oil.
Global Financial Database (GFD) also have these benchmark oil prices.