Macro
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month values ▾
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|
| +0.40 | +0.40 | +0.45 | +0.45 | +0.50 | +0.50 | +0.55 | +0.60 | +0.60 | -0.13 | -0.27 | -0.09 |
Surging demand and the Yukos supply disruption drove crude past $50 for the first time, and the majors posted blockbuster profits; the launch of the great 2000s oil boom, and owners felt it.
How this mood is scored ▾
Crude oil prices exceeded $50 a barrel for the first time due to disrupted U.S. production from Hurricane Ivan and instability in major producing nations including Saudi Arabia, Iraq, and Nigeria. OPEC's attempts to stabilize markets have so far failed, signaling potential volatility and upward pressure on global energy costs.
Russia plans to auction Yukos's core asset, Yuganskneftegaz, as part of a $24.5 billion tax dispute, widely seen as a state-backed move against owner Mikhail Khodorkovsky. The sale undermines investor confidence, slashes Yukos' value to $5 billion, and signals heightened political risk in Russia's energy sector, with global market implications.