(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) — Occidental Petroleum Corp. is buying back $2.5 billion of its bonds as the junk-rated company seeks to cut debt after reporting better-than-expected earnings with rising crude prices. The oil producer launched a tender offer Monday to repurchase 15 tranches of notes with maturities ranging from 2023 to 2049. Some of its targeted bonds […]
Read More(Bloomberg) — Iraq stopped oil production from two southern fields with a combined capacity of almost half a million barrels a day. The shutdowns curtail the ability of OPEC’s second-largest member to pump crude just as Russia’s invasion of Ukraine and tight supplies globally send prices soaring. The operators of Nasiriya and West Qurna-2 have […]
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 MoreWhen President Joe Biden announced plans to release up to 50 million barrels of oil from the strategic petroleum reserve to lower retail fuel prices, many analysts warned that any effect this move would have would be short-lived. Indeed, prices dropped for a very short while and are now on the climb again, with the […]
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 More(Bloomberg) — A hedge fund run by commodities trader Doug King posted a record return last year, thanks to soaring energy, food, power and freight prices. King’s $244 million Merchant Commodity Fund gained 74%, beating its previous best of 59% in 2014, according to an investor letter seen by Bloomberg. London-based King, 55, is among […]
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 MoreMatador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates in two segments, Exploration and Production; and Midstream. MTDR $40.9400 -2.3200 % -5.3600 Matador Resources Company Sector : Oils-Energy Industry : Signal Short Term Trend Long Term Trend […]
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 ways that I think a smart investor keeps track of industry and economic trends that can have a carryover effect on broad market activity. One of the sectors that is useful for the purpose is the Energy sector, since energy products such as petroleum and natural gas are used in the production […]
Read MoreThe renewed vigor in oil prices of late is only just the beginning, contends veteran industry analyst Phillip Streible of Blue Line Futures. Streible thinks oil prices are at risk of hitting $60 in the near-term due to an Omicron-related demand slowdown. But that will likely prove to be a buying opportunity in front of […]
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) — 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 MoreBuy Price: $11.00 or better Sell Price: TradersPro Sell Signal Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company’s oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and […]
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