U.S. stocks rose, with the Standard & Poor’s 500 Index posting the best two-day gain in more than five months, despite weakness in oil prices as beaten-down banks, technology and retailer shares led an advance. Citigroup Inc. and U.S. Bancorp climbed more than up 2.7 percent. Retailers, one of last week’s bright spots, added to …
Talking Points: Crude Oil Technical Strategy: Oil Bounces To Trendline/ MVA Resistance The US Dollar Has Found a Bid For the First Time in February Putting Pressure on WTI Trendline Resistance From November Highs Appears A High Hurdle For Bulls To Climb “In the second half, every tank and swimming pool in the world is …
Friday saw a historic rally for crude oil. West Texas Intermediate crude oil prices rose 12.3% on Friday to settle at $29.44 in the 14th-largest one-day rally, according to data from Strategas. The 16th-largest one-day gain had come just a few weeks ago, with an 11% spike on January 22, in what has been a …
In 1964, Alaska was struck by a 9.2-magnitude earthquake that lasted 5 ½ minutes. More than 130 people were killed. The massive quake triggered tsunamis in coastal communities, including my hometown of Valdez. More than 30 of my friends and neighbors were killed that Good Friday afternoon. I was 12 and I remember everything as …
Yes, many investors are wary of oil stocks during this low price environment. After all, West Texas Intermediate (WTI) crude oil prices are down 27% since the start of the year, and many analysts expect them to move lower. But Money Morning Global Energy Strategist Dr. Kent Moors – a 30-year veteran of the oil …
Summary The current supply chain of oil is very fragile with 16.4% of current global production at risk of disruption due to turmoil in major oil producing countries. What are the risks these countries are facing today, and why oil production risks are much higher today than any time in the past several years? How …
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 …
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 …