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U.S. crude futures dropped to around $94 a barrel on Friday after disappointing China data and on lingering concerns the U.S. Federal Reserve would curb its stimulus program.
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The "Fast Money" traders give their calls on Oracle, Hewlett-Packard, IBM and more.
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We still like this market lower at this point, but with the dollar in its current freefall, our confidence in a selloff is low.
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Over the last nine sessions NYMEX crude oil has rallied by $8.11 a barrel or 10.9%. In fact, last night the greenback hit its lowest low against a basket of major currencies (DXY) since January. What does this mean for The Schork Report’s newly acquired bearish bias in the NYMEX liquids.
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The bulls were giddy on Tuesday amid growing expectations that central banks around the world were ready to do even more to boost the struggling recovery.
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All inbound and outbound traffic to the Houston Ship Channel remains idle as repairs to a downed power line are completed. On Sunday morning the U.S. Coast Guard halted traffic to the epicenter of the U.S. refining complex after a barge struck a highline electrical tower in Baytown. The channel is estimated to stay closed until this evening.
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New signs emerged on Tuesday giving bullish investors more reasons to believe the S&P will march right up to 1,200 before Election Day.
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Nymex natural gas never looked weaker at the end of last week. Analysts at The Schork Report changed their technical bias to bearish on August 06th. Since then, the spot contract for November delivery has closed lower in 24 of 39 sessions (62%) with an average loss of $0.07 per dekatherm, per session.
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For two-thirds of the year, oil prices have vacillated between $70 and $80 per barrel but on Friday they broke higher. What should you make of the move?
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September surprised stock market skeptics, and now the debate turns to whether October will be the month that spooks investors.
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Value investor Whitney Tilson of T2 Partners shares his top stock picks for the fourth quarter.
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BP, which is in the midst of selling off $30 billion in assets, hopes to reinstate dividends early in 2011, its incoming CEO, Bob Dudley, told CNBC Thursday.
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Even the BP Gulf oil spill disaster hasn't made energy policy a front-burner election issue this year, but there's still lots at stake for voters and the economy.
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Energy prices were volatile yesterday (Tuesday). The Nymex liquids continue to consolidate; it seems the disappointing consumer confidence number was not enough to scare away the bulls.
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Venezuelan President Hugo Chavez took it on the chin over the weekend in congressional elections. His PSUV party lost its two-thirds majority in the National Assembly. As a result, Chavez lost his power to rule by decree and now will be forced to negotiate with the Democratic Unity coalition to pass legislation. It appears that Venezuelans are growing wary of Chavez’ Bolivarian Revolution.
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Injections in the first phase of the season averaged 11.9 Bcf/d or 10.9% above the average of the previous nine seasons. As a result, the overall surplus at the end of June was 21½% or 485 Bcf… and that was inclusive of the 8th warmest June in the U.S. on record.
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For all of the political noise about tax policy, cuts, it is hard to make a convincing case that either cuts or hikes make much of a difference in economic growth or job creation. "I really don't think you can," says one economist.
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Yesterday (Thursday), the EIA reported a reasonable 73 Bcf injection into natural gas storage. Analysts were looking for an 80 Bcf injection and the previous report saw a 103 Bcf injection, yet prices sold off in the minutes after the report. Why?
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You may think a buyback signals strength in a company, but think again, the traders said.
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In September 2006 the Calendar 2007 natural gas strip on the Nymex was trading around a lofty $7.50 and the Calendar 2008 strip around $7.80. Yet these levels were not high enough to convince Chesapeake Energy to fully lock in production. In hindsight, Chesapeake’s decision was prescient—kind of.
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At any given time — like now — geography, quality and/or the uncertainty of capacity issues at the Nymex delivery hub in Cushing, Okla., can distort the normal relationship along the Nymex crude oil curve.