Oil rig count drops, pain to get worse

Oil rig count drops, pain to get worse

The U.S. oil and natural gas industry idled 40 more drilling rigs this week. That brings the U.S. total to 59 rigs idled in the last two weeks, almost 9% of the rig total. Worse yet, more than half of the idled rigs were in the Permian basin of West Texas. That...
Saturday Night Quarterback says (on a Sunday), For the week ahead expect…

Special Report: Are you ready for the next Big One? A 5-Step Portfolio Strategy–Part 1, the odds of a Recession or Credit Crunch, Step #1 Foundation Buys, Step #2 Sectors to Sell, Step #3 More Hedges, Step #4 Rebelancing

Is a Recession coming? I don't mean "someday." Someday the sun will go nova but I don't need to price that in to my investment strategy. But a Recession in 2020 or 2021? That's something to take into account. And to prepare for to the degree possible. Or a Credit...
Oil continues to move higher on Middle East fears

Oil continues to move higher on Middle East fears

Oil futures in New York settled at their highest since December 2014. U.S. benchmark West Texas Intermediate climbed 0.35% to close at $68.88 a barrel. International benchmark Brent crude rose 0.88% to $74.71 a barrel. The gains were unusual in that the U.S. dollar strengthened today. But the markets had news of another missile attack on Saudi Arabia–again unsuccessful–by Houthi rebels in Yemen. The Houthis are backed by Iran and Yemen has become a proxy war for power in the Middle East between Iran and Saudi Arabia (and by extension, Russia and the United States.)