OPEC production curbs collapse in Russia-Saudi fight
It's over. The three-year marriage of convenience between Saudi Arabia and Russia is done. The Saudi's argued that Russia and OPEC producers must cut production further in response to falling demand for oil in the face of the coronavirus outbreak. Russia refused to...
For another day the Federal Reserve rallies the market
It was just four sentences--“The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our...
Market wakes up to coronavirus threat–it’s not just China anymore
What's different this week? Why is the market plunging today on coronavirus fears when last week it shook off the news? Because the last few days have brought news that the coronavirus isn't limited to China anymore. From Italy comes a report that the Armani fashion...Shanghai stocks close 7.72% lower; damage today is limited to China holiday catch up
Selling in Shanghai and Shenzhen A shares, which trade on those two mainland China exchanges with limits on overseas ownership, drove prices on those two exchanges lower today with the Shanghai Composite down 7.72% and Shenzhen A shares down 8.41% at the close. This...
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...
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...
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...
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...
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...
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....
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....Jim’s Stock Alerts
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