Archive for the 'Oil' Category
U.S. weekly crude oil inventories rise 1.1 million barrels, below estimate
The oil markets took Wednesday morning’s stock report in stride. Oil was down …
Venezuela to cut oil to Exxon (XOM)
Venezuela wants a bit of revenge against oil company Exxon (NYSE:XOM). The most profitable US corporation has gone to court to freeze $12 billion in assets from the Latin American country. Venezuela nationalized assured Exxon property and the firm wants payment.
One expert told Reuters “It is…
Coal’s price is surging on China demand
Most investors are aware that China’s surging growth and increasing energy use have helped push oil to +$90 per barrel near-record highs. But what many probably don’t know is that China’s double-digit GDP growth is forcing up the price of another major energy source: coal.
The price of coal -…
Nuclear ability powers Entergy (ETR)
Roger Conrad is among the advisory industry’s main expert on utilities. Here’s a look at the latest featured growth stock in his The Utiliity Forecaster — Entergy Corp. (NYSE: ETR).
“Two years ago, Entergy Corp’s regulated utility commerce was literally in ruins. The core New Orleans subsidi…
Exxon puts the smack-down on Hugo Chavez: Court freezes Venezuelan assets
You may file that under: It’s about date.
I’ve been patiently waiting for something to be done regarding the seizure of Venezuelan oil infrastructure by communist dictator Hugo Chavez. It appears that moment has come, with the help of Exxon Mobil Corp. (NYSE: XOM). As reported by Reuters, app…
Serious Money: great picks: Aluminum Co. of China & Anadarko
One of our readers commented recently that I had earned his respect considering I always tracked and posted my poor picks not just the good picks. I have been told that often but it is not so strange in better publications. Barron’s weekly and Fortune Magazine both do the same. It’s only fair, a…
Oil surges past $90 on talk OPEC will defend $80 oil in spring
The Organization of Petroleum Exporting Countries may reduce production when it meets next month as part of a strategy to try to keep the price of oil above $80 per barrel, Bloomberg News reported Friday.
Bloomberg quoted unnamed OPEC sources as saying OPEC would lower production whether pric…
Oil falls below $87 after weekly inventories surge
Oil fell $1.55 to $86.86 at mid-day after crude oil inventories rose by seven million barrels for the week ended February 1 — well above the consensus estimate of a 2.6-million-barrel increase — the U.S. Energy info Administration announced Wednesday.
Meanwhile, gasoline inventories increas…
Continental Resources: Searching for geysers on the American continent
Readers of that space know that one argument forwarded here is that in the era of elevated energy prices oil/natural gas companies are likely to remain promising plays for the foreseeable future, barring the discovery of a cheap, widely-available, alternative energy. And among oil/natural gas co…
OPEC tightening in March could slow U.S. GDP more
The oil ministers at OPEC could not leave well adequate alone and just tell the world that they would not alter production at their current assembly. They had to add that they might decrease output in March considering they believe that profitable growth in the U.S. is slowing.
Reacting to th…
Oil stays positive, despite bearish stock report
When we looked at oil prices that morning, we famous that traders had pushed up prices on two factors; anticipation of a rate cut from the Fed, and anticipation of a possible bullish stock report nowadays from the U.S. Energy station. Well, The Fed did cut rates by 50 basis, but the inventory re…
Iran: No need for OPEC to increase production
Iran’s Oil Minister Gholam-Hossein Nozari said Tuesday that there’s no reason for OPEC states to increases oil production, PressTV Iran reported.
“There is no reason for the Organization of Petroleum Exporting Countries (OPEC) to raise output as we are approaching the warm season,” Nozari fam…
Say it ain’t so: OPEC may cut oil production that spring
OPEC is said to be evaluating a potential production cut that spring, but is likely to keep its output quota the same when in meets Friday in Vienna, The Wall Street Journal (subscription required) reported.
OPEC, which produces about 40% of the world’s oil, is said to be concerned that the U…
Oil closes down about $1, but off session lows
Tuesday was a good day to be flat — or to have no open trades — in the oil markets.
Independent energy trader Jim Dietz said he was flat Tuesday, and very happy to be so.
“The market ripped down $3 [per barrel] on Asian and European market sell-offs, thereupon ripped up after the Fed’s r…
