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By Barani Krishnan NEW YORK (Reuters) – Oil prices seesawed in choppy trade on Wednesday, with U.S. crude slipping and Brent paring gains as worries about a global supply glut offset data showing a surprise drop in U.S. crude stockpiles. Oil prices rallied early, up for the first time in five days, on talk that …
Petro River Oil Corp. Provides Corporate Update NEW YORK, NY, February 9, 2016– Petro River Oil Corp. (OTCBB: PTRC) (“Petro River” or the “Company”), is pleased to provide an update on our ongoing corporate activities, as well as the development plans for our core acreage in Osage County and our interest in several projects accessible through our pending …
America is pumping so much oil that it’s running out of places to keep it all. The U.S. now has nearly 503 million barrels of commercial crude oil stockpiled, the Energy Information Administration said on Wednesday. It’s the highest level of supply for this time of the year in at least 80 years. The …
Share on FacebookShare on Twitter Stocks fell around the world, with the Dow Jones Industrial Average falling more than 250 points as oil’s renewed plunge toward $30 a barrel in New York rekindled concern that global growth is slowing. Treasuries rose with the yen. The Dow average tumbled as Exxon Mobil Corp. fell after reporting …
The scramble for the safety of U.S. debt is back on. The benchmark 10-year Treasuries yield slid to the lowest in almost 10 months as stocks and oil resumed declines that have dimmed investors’ outlook for global economic growth. The diminished confidence added to doubts about the Federal Reserve’s projected pace for interest-rate increases this …
America is wasting little time getting back into the oil exporting business. Just weeks after Congress lifted a 40-year ban on exporting oil, the first shipments of the black stuff left U.S. ports for Europe. The first freely-traded shipments of U.S. crude are symbolic of the country’s newfound role as a leading producer of oil. …
Summary $30 dollar oil is pushing a lot of producers under. This environment will, in the long run, create an environment in which demand will outstrip supply. Only a reduction in demand through a recession will stop this supply-demand imbalance from occurring. By Nick Cunningham The biggest result from the collapse in oil prices could …
Summary I computed Altman’s Z2-Score for XOM, CVX, CHK, DNR, CLR, DVN, EOG, NBL, OAS, OXY, PXD, RRC, NOG, SWN, SN, WLL, FANG, MRD, APA, and APC. Altman’s Z2-Score indicated half of the companies I profiled have a high probability of going bankrupt. I believe many investors have suffered from cognitive dissonance as it relates …
Summary Two key events could impact oil prices in a big way on Wednesday. Petroleum inventory data will be reported by the EIA at 10:30 AM ET and it is a powerful factor for oil prices. The Federal Reserve will publish its latest Monetary Policy Statement at 2:00 PM ET, and it could swing both …
Oil prices fell as much as 7 percent on Monday, dipping below $30 as investors’ focus returned to the market’s oversupply amid news that Iraq’s output reached a record last month. U.S. crude settled down $1.85, or 5.75 percent, at $30.34 a barrel, and later fell further to $29.71 per barrel. Brent crude, the global …