(Bloomberg) — President Joe Biden didn’t mince words as he blamed the oil industry for gasoline prices running at a seven-year high. “Gas supply companies are paying less and making a lot more,” he said in televised remarks from the White House last week. “That’s unacceptable.” Within minutes, the oil industry and its congressional backers […]
Read MoreGlobal oil markets turned red quickly after Black Friday. WTI futures in New York and Brent in London plummeted more than 12% from their pre-Thanksgiving closes during the crash. They both recovered somewhat by the close, but for Brent Crude Futures, it was still the seventh-worst one-day drop in history. Brent crude settled near $73 […]
Read More(Bloomberg) — Black Friday turned red very quickly for global oil markets. The day after Thanksgiving has been choppy before — fewer traders can mean more volatility — but nothing like this year. The prospect of the freshly named Omicron variant of Covid derailing the world’s fight against the pandemic saw an early morning sell-off […]
Read MoreRenren Inc. (RENN) Renren Inc. engages in the software as a service business in the People’s Republic of China. The company develops Chime, a software as a service platform that offers lead generation and customer relationship management solutions for real estate professionals. It also provides online and mobile services for the trucking industry in the […]
Read MoreCalumet Specialty Products Partners, L.P. (CLMT) Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. Its Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products that are used primarily as raw material components for basic industrial, consumer, and automotive […]
Read MoreSometimes there are forces that affect a sector or industry in such a way that it creates a storyline that extends into not merely weeks, or months, but years. These can be positive or negative, but one of the things that I find interesting as an analyst is to look for those threads and try […]
Read More(Bloomberg) — Surging oil and natural gas prices are spurring production increases from West Texas to the Upper Great Plains that probably will lift output to levels not seen since the early days of the pandemic, according to Rystad Energy AS. U.S. shale-oil production is expected to reach 8.68 million barrels a day in December, […]
Read MoreThe impact of the global pandemic sometimes seems to have no end in sight – even though economic activity has been picking up enough this year to start raising a lot of questions about inflationary pressures, their impact on interest rates, and more. One of the sectors that has rallied strongly since November of last […]
Read MoreNearly 60% of S&P 500 companies have reported third-quarter 2021 earnings, and the energy sector has again emerged as a standout performer. According to the latest FactSet data, the Energy sector is reporting the second-largest positive (aggregate) difference between actual earnings and estimated earnings (+15.9%), behind only the Financial sector. Within this sector, Phillips 66 […]
Read MoreYou may find it curious that the price of oil is still above $80 a barrel. This is also why gasoline prices are at the highest levels since 2014. But, there is a good explanation for it. In January 2020, just before the Covid-19 pandemic began to sweep across the U.S., domestic oil production was […]
Read MoreOil prices are on course to post their first weekly loss in two months, with both coal and natural gas prices falling as well. Whether this marks the end of the recent crazed rally in energy prices remains to be seen, but there are certainly more bearish factors on the horizon. For a deeper dive […]
Read MoreBuy Signal: $95.00 or better Sell Signal: Traderspro Sell Signal EOG Resources, Inc., together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; the Republic of Trinidad and Tobago; the People’s Republic […]
Read MoreOver the last few months, the Energy sector has been one of the market leaders, as the price of oil, natural gas and other energy products have all increased. Many analysts are pointing to supply constraints that are being felt in multiple sectors and that are creating inflationary pressure all the way to the consumer […]
Read MoreWith the exception of a major breakthrough in the negotiations between Iran and the EU, there is very little downside risk for oil prices this week. Chart of the Week Market Movers – France is rumored to turn against the general European trend of decommissioning nuclear plants and announce the construction of 6 new nuclear […]
Read More(Bloomberg) — The culprit behind the latest jump in oil prices isn’t soaring natural gas prices or even OPEC+’s limits on output but rather what is happening at America’s largest oil storage hub in Oklahoma. Traders are fretting that stockpiles in Cushing will fall as low as they physically can. It has sent gauges of […]
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