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Posts Tagged ‘oil prices’

Market says U.S.-Iran crisis is over–for a day, anyway

After last night's Iranian attack on the U.S. troops stationed at two Iraqi airbases and a relatively restrained morning message from U.S. President Donald Trump, financial markets have decided to take profits in oil and cybersecurity stocks today. And wait for the next stage in this confrontation? Oil prices, which had climbed on fears that […]

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Saturday Night Quarterback (on a Sunday) says, For the week ahead expect…

... the dominos to keep falling from the death of Iran's Major General Qasem Soleimani, commander of the Quds Force of the Iranian Revolutionary Guard and mastermind of Iran's military terrorism effort, in a U.S. drone strike. I don't see a quick big retaliatory act by Iran that would seemingly write an end to the repercussions […]

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Iran will strike back but market doesn’t know how

The market reaction to the death of Iran's Major General Qasem Soleimani, commander of the Quds Force of the Iranian Revolutionary Guard and mastermind of Iran's military terrorism effort, in a U.S. drone strike was curiously muted today. Yes, oil prices climbed because oil prices climb whenever violence in the Middle East threatens to threaten […]

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OPEC does nothing and markets seem to be ok with that

OPEC reached an agreement today to cut an additional 500,000 barrels a day from production. In reality that action is close to "no action" since OPEC has been informally making those supply reductions for most of the year thanks to voluntary cuts by Saudi Arabia that have offset over-production by some OPEC and OPEC+ countries. […]

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Oil climbs ahead of December 5 OPEC meeting

Call it very, very cautious optimism. Maybe. Oil prices climbed ahead of the December 5 meeting of OPEC in Vienna. The oil market got a boost from a report today, December 4, from the U.S. Energy Information Administration that showed U.S. crude inventories fell by 4.9 million barrels last week. Absent other news on most […]

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The squeeze on the U.S. shale patch just keeps getting worse–selling Cheniere Energy out of my long-term 50 Stocks Portfolio

The second quarter of the year is, historically, the weakest quarter for global demand for natural gas. That's not a good forecast since the global glut of natural gas has already gotten so large that U.S. exporters of liquified natural gas have no place to send it. LNG demand from China has slumped thanks to […]

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Oil rallies on actual inventory numbers after falling yesterday on projections

The Energy Information Administration reported today that U.S. oil inventories at the Cushing, Oklahoma hub fell by 2.3 million barrels. That was the biggest draw down in inventory at Cushing in three months. Supplies at the Cushing Hub reflect production in the U.S. oil shale basins. Total U.S. crude inventories rose by 1.4 million barrels […]

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Oil prices under pressure as OPEC meeting looms

Oil prices are down significantly today, November 19, on speculation that data to be released tomorrow will show a fourth straight weekly increase in U.S. oil inventories and nervousness about a successful conclusion to U.S.-China Part 1 trade talks. As of 1:30 p.m. New York time U.S. benchmark West Texas Intermediate was down 2.89% to […]

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Saudi Aramco cancels London IPO roadshow, cuts size of offer

The oil markets aren't amused today, November 18, at news that even at a reduced price investors are balking at buying shares of Saudi Aramco's initial public offering.  Crown Prince Mohammed bin Salman had initially set a goal for the sale of reaching a valuation $2 trillion. Now, after cutting back the size of the […]

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Odd day: stocks rise on bank earnings oil falls on global growth fears

Good earnings news from big U.S. banks drove U.S. stocks higher today. As of 3 p.m. New York time, the Standard & Poor's 500 was up 1.10% and the Dow Jones Industrial Average was ahead 1.03%. The NASDAQ Composite had climbed .28% and the Russell 2000 small cap index had gained 1.17%. The iShares MSCI […]

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