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Posts Tagged ‘oil prices’

Stocks fall in wave of bad news–but hold up better than expected (all things considered)

As of noon today New York time, the Standard & Poor's 500 and the Dow Jones Industrial Average are both down 2.42%. The NASDAQ Composite is lower by 2.78%. The Russell 2000 small cap index has tumbled 2.66%. And the iShare MSCI Emerging Markets ETF (EEM) has dropped 2.59% Which is actually a better performance […]

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Oil inventories spike–confirmation and not a surprise

The U.S. Energy Information Administration reported today that crude oil inventories showed a build of 2.39 million barrels for the week ended August 2. This comes after a drawdown of 8.5 million barrels in the prior week. The build snapped a seven-week long string of declines. As worrying, gasoline stock piles also expanded with a […]

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Selling my Parsley Energy call options out of my Volatility Portfolio

Shares of Permian Basin oil shale producer Parsley Energy (PE) were up 16.45% as of 3 p.m. New York time this afternoon. The company reported second quarter earnings of 32 cents a share (after adjusting for a one-time tax-related gain). Unadjusted earnings came to 41 cents a share, down from 44 cents a share last […]

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President’s remarks remind markets there’s still a trade war going on

At a cabinet meeting today President Donald Trump wanted to remind everyone that he could still impose additional tariffs on Chinese imports if he wants. The President also expressed impatience that the truce in the trade war with China hadn't yet resulted in a pickup on Chinese purchases of U.S. farm products. After his end […]

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Powell sounds even more dovish on interest rates but market shrugs

In the second day of his semi-annual testimony to Congress--this time in front of the Senate--Federal Reserve chairman Jerome Powell sounded even more likely to support an interest rate cut at the central bank's July meeting. The Fed has room to cut rates, he said, and the Fed may have erred  in keeping monetary policy […]

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OPEC + Russia extend production cuts, oil prices tumble

A day after OPEC agreed on a deal to extend current production cuts until March 2020, Russia and nine other non-OPEC producers agree to a matching nine-month extension of supply cuts. In some oil markets, the news would have sparked a rally in oil prices. Less supply must lead to higher prices, no? But in […]

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Oil rallies on U.S. inventory drawdown, record U.S. exports, slip in U.S. production–and, oh yes, those pesky tensions with Iran

U.S. benchmark West Texas Intermediate crude is now up 10% for the week following on a 2.44% jump in price to $59.24 a barrel today. International benchmark Brent crude gained 1.94% to $66.31 a barrel. Continued tensions between the United States and Iran, of course, have kept the trend pointing upwards. But today's big move […]

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Whoa! on those interest rate cuts, the Fed says

The financial markets are getting ahead of themselves in a bad case of rate cut fever, Fed chair Jerome Powell, and St. Louis Fed President James Bullard both said today. This is a message that I've been waiting to hear as the financial markets moved to price in not a 25 basis point cut interest […]

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Oil soars after Iran shoots down U.S. drone

U.S. crude benchmark West Texas Intermediate climbed 5.23% to $56.57 a barrel as of 2:30 p.m. New York time today June 20. International benchmark Brent crude rose 4.03% to $64.31 a barrel. A U.S. drone was shot down by Iran in Iranian territory according to Iran or in international airspace according to the United States. […]

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Special Report: 10 Best Picks for the Last Six Months of 2019

This isn't  time for investing as usual. As whacky as the first half of 2019 has been--the Federal Reserve embraces interest rate cuts, the U.S. and China descend further into a trade war, the U.S. economy turns in better than 3% growth but fears for a slowdown in global growth in 2019 and for a U.S. recession in 2020 […]

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