(Bloomberg) — Oil futures dropped below $100 a barrel for the first time since May as concerns grow that a global economic slowdown will ultimately hobble demand. West Texas Intermediate crude futures dropped as much as 9.3% to near $98 a barrel. Oil was pressured in a low liquidity session on Tuesday as equities fell […]
Read More(Bloomberg) — Fueled by its leverage to rising oil prices and a big boost from the world’s top investor, Occidental Petroleum Corp. doubled this quarter and is the best performer in the S&P 500. It is quite a turnaround for the oil explorer, which has struggled for years. The shares soared 101% over the last […]
Read More(Bloomberg) — TC Energy Corp.’s Keystone XL crude pipeline could be built by the first quarter of next year if the Biden administration were to reverse its decision to cancel the project. Construction of the controversial pipeline, which would have raised Canada’s oil-sands export capacity to the U.S. by almost 900,000 barrels a day, had […]
Read MoreVista Oil & Gas, S.A.B. de C.V., through its subsidiaries, engages in the exploration and production of oil and gas in Latin America. The company’s principal assets located in Vaca Muerta with approximately 134,000 acres. VIST $8.1300 -0.1900 % -2.2800 Vista Oil & Gas S.A.B. DE C.V. ADR Sector : Oils-Energy Industry : Oil – […]
Read More(Bloomberg) — Markets in Turkey are flashing warning signs that inflationary pressures are building in the developing world as oil prices spike. Despite spending billions of dollars to shield the currency from surging energy prices last week, the lira extended the fifth-biggest depreciation in emerging markets since Feb. 11. The yield on two-year government notes […]
Read More(Bloomberg) — Demand destruction is the only thing that can stop oil shooting higher after the U.S. and European allies unleashed additional curbs on Russia following its invasion of Ukraine, according to Goldman Sachs Group Inc. The bank raised its one-month forecast for Brent crude to $115 a barrel, from $95, with significant upside risks […]
Read MoreEnerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. ERF $12.2400 0.3000 % 2.5100 Enerplus Corp Sector : Oils-Energy Industry : Signal Short Term Trend Long Term Trend BUY UP UP Day: 2.51% Wk: 2.43% Mo: 10.87% Yrly: 152.89% YTD: 15.69% […]
Read More(Bloomberg) — President Joe Biden, who has asked OPEC+ to raise oil production faster to tame runaway energy prices, just got a gift on his home turf instead: a blockbuster growth forecast for U.S. shale production from the country’s two biggest oil companies. Exxon Mobil Corp. said Tuesday it plans to boost output by 25% […]
Read MoreThis independent energy company, engages in the acquisition, exploration for, development, and production of oil and natural gas primarily in Texas, Louisiana, and North Dakota. As of December 31, 2020, the company had 5.6 trillion cubic feet of natural gas equivalent and 17 million barrels of oil equivalent of proved reserves. CRK $8.8900 -0.0300 % […]
Read MoreMario Tama/Getty Images To say investors are bullish on oil again would be an understatement. In a year that has begun with serious uncertainty—largely about the path of interest rates and tech stocks — a positive call on oil is as close to a consensus opinion as it gets. In fact, traders are making bets […]
Read More(Bloomberg) — U.S. oil futures are trading above $75 but the yearly reshuffling of billions of dollars of commodity investments are about to trigger a sharp bout of selling. Every January, the world’s two biggest commodities indexes — the S&P GSCI Index and the Bloomberg Commodities Index — reset, spurring a raft of inflows and […]
Read MoreOne of the big themes this year of the “reopening” trade has come from a generally expected increase in consumer activity in activities that were almost completely restricted in 2020 such as travel to take vacations. That generally implies consumer demand for airlines, hotel bookings, and resorts should also increase, which is typically good news […]
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 MorePresident Biden’s threat to oil producers that he would force prices down has already backfired. Oil markets were unimpressed by the U.S. administration’s plan to coordinate a strategic petroleum reserve release from major importers in an effort to increase supply. While some observers believe an SPR release could push oil prices down, most analysts have […]
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 […]
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