US shale oil production crossed 1 mil b/d in 2011.
Since then, Saudi's market share has been on slow but steady decline, punctuated only briefly by steep price drops in 2015-6 and 2020. How can Saudi regain market share? Either they maintain a $60+ price and see their market share continue to erode, or they increase production to reclaim market share, and see prices plummet. Either way, it's lower revenue in the short term. Should they pump more to decrease prices and regain market shares? Taking the market to <$40 again will be painful for them in the near-term, but they have the financial wherewithal to survive. Source: John Arnold on X
This is the largest daily gold selloff in four years (-3.5%)
Primarily due to profit-taking transitioning into long liquidation after last week's strong rally, Israel's Netanyahu "in principle" approval of a Lebanon ceasefire deal and the announcement of Scott Bessent as President-elect Donald Trump's nominee for US Treasury Secretary. Bessent is seen as another advocate of a smaller government and budget deficits. Source chart: Bloomberg, Tavi Costa
The U.S. crude oil and natural gas renaissance, in one panel chart...
Source: Mason Hamilton, API
According to the best source of Chinese gold and silver data – @oriental_ghost – China is on a silver consumption BENDER
Source: ale Gold great again
Current gold price pattern is similar to that seen in 2016's "sweep republican victory"...
Source. www.zerohege.com
JUST IN: White House plans to triple Nuclear Power by 2050 to meet technology demands.
Source: Bloomberg
Uranium ETF $URA forms a Golden Cross for the first time since June 2023.
The last one sent shares soaring more than 50% over the next 7 months! Source: Barchart
Gold's best year since 1979!
There have been only four times in history where gold has delivered stronger returns: 1979: +126.5% 1973: +73% 1974: +66.1% 1972: +48.8% Source: GoldSilver
