(Bloomberg) — Oil’s rally fizzled following a report that OPEC members are exploring the idea of exempting Russia from its oil-production deal, which could open the door for other producers to pump more oil. West Texas Intermediate futures in New York shed nearly all of its gains to settle under $115 after earlier rising almost […]
Read MoreThis company engages in the exploration and production of oil and gas properties in Colombia and Ecuador. As of December 31, 2021, it had total proved undeveloped reserves of 24.8 million barrels of oil equivalent in Colombia. The company was incorporated in 2003 and is headquartered in Calgary, Canada. GTE $1.7200 0.1300 % 8.1800 Gran […]
Read More(Bloomberg) — Oil dropped by more than $5 a barrel in a matter of minutes after a report that the Biden administration is considering releasing about 1 million barrels a day from its strategic reserves for several months. The overall release could be as much as 180 million barrels, according to people familiar with the […]
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) — Senators Sheldon Whitehouse and Elizabeth Warren say they’re working on a proposed new tax targeting profits being reaped by oil companies as crude prices spike amid geopolitical tensions. “Big Oil’s first priority is to maximize profits,” Warren, a Massachusetts Democrat, tweeted on Wednesday. “We can’t let them use Putin’s invasion as an excuse […]
Read More(Bloomberg) — Oil soared in Asia — jumping as much as 18% early in the session — after reports that the U.S. was discussing a ban on Russian crude imports sent shock waves through an already-reeling market. Brent quickly pared around half those gains to trade near $130 a barrel, a level that’s still exacerbating […]
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 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 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 MorePart of taking a smart, value-based approach to investing in the stock market involves keeping track of information on industry and economic trends that are likely to have broad residual impacts on market activity. One of the sectors that I think has a broad carryover effect on multiple other sectors in the economy is Energy, […]
Read MoreSince the beginning of 2021, the energy sector has rebounded strongly from the pandemic-driven pressures that had kept prices – particularly in crude oil – depressed throughout 2020. From a November 2020 low point at around $34, for example, West Texas Intermediate (WTI) crude more than doubled to an October peak at around $85. The […]
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 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 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 […]
Read MoreBuy Price: $47.00 or better Sell Price: TradersPro Sell Signal Matador 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. The company primarily holds interests in the Wolfcamp and Bone […]
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