Big oil has lost big money for investors. In the past year, as crude prices have fallen more than 55 percent, the nine biggest Western oil companies have shed a combined $400 billion in market cap, according to data pulled by FactSet. But despite the staggering decline, one expert sees rare opportunity in the space.… Keep reading →
West Texas Intermediate
Oil Stocks Have Done Something Extraordinary: Trader
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We will never sell or share your information without your consent. See our privacy policy.Oil To Hit Low $30s By The End Of 2015: Kilduff
By Tom DiChristopher | CNBCThe prospect of oil prices falling below $40 receded earlier this year amid a crude rally, but with futures sliding again, investors shouldn’t rule out a three-handle, Again Capital founding partner John Kilduff said Thursday. “Christmas time we’ll probably be rebounding off new lows off of the mid to low 30s,” he told CNBC’s “Squawk… Keep reading →
Americans are not spending much of the money they’re saving at the pump. Some benefit in home prices and employment have come to areas with long commutes, but effects on retail spending have been “more ambiguous,” according to an analysis from Goldman Sachs economists. “Our view has been that the boost to real incomes from… Keep reading →
‘More Pain Coming’ To Oil Sector: Energy Investor
By Jacob Pramuk| CNBCOil producers have shown reluctance to draw down supply while societies have yet to find a universal replacement for oil, which will keep prices lower for the immediate future, one energy investor said Wednesday. “I think it’s still early days and we have more pain coming,” said Gregory Beard, global head of natural resources at… Keep reading →
Energy News Roundup: Duke Settlement, Rallying Dollar & Ineos Acquisition
By Conor O'SullivanDuke Energy Corp. has agreed to pay shareholders about $146 million in settlements following allegations that it failed to disclose details of its 2012 merger with Progress Energy Inc. “The lawsuit accused Duke and several directors and executives of planning in secret to overthrow Progress Chief Executive Bill Johnson as head of the new company.… Keep reading →
Global Crude Supply Leads to Sharp Price Declines
By Enerknol ResearchBenchmark crude oil price declines may threaten domestic producers’ continued production growth. On January 5, 2015, the Energy Information Administration (EIA) released a report — drawing from the S&P Goldman Sachs Commodity Index (GSCI) — showing that energy commodity prices recorded the largest declines in 2014 compared to non-energy commodities. Notably, the GSCI’s energy component… Keep reading →
Whether or not the price of crude has hit bottom, oil stocks are still likely to appreciate over the next few months, Wolfe Research Managing Director Paul Sankey said Tuesday. West Texas intermediate crude dropped below $80 a barrel, hitting two-year lows, with some analysts predicting that it could head toward $70 in next year due to oversupply.… Keep reading →
Energy News Roundup: Libya Shakes Up Crude Oil Market and Europe is Stuck with Russia for Gas
By Jared AndersonThe Brent-WTI spread narrowed further yesterday, with the price differential currently around $6/bbl, as Libya continues to shake up the international oil market. “Libya, the holder of Africa’s biggest crude reserves, has become the smallest producer in the 12-member Organization of Petroleum Exporting Countries after protests halted production and shipments. Output shrank to 250,000 barrels… Keep reading →
PFC Energy put together a succinct list of key trends in oil markets in 2013, along with associated charts. These include US oil production growing faster than in any other year, cheaper crude inputs at refineries driving the US to become the world’s largest exporter of refined petroleum products, and the rising disconnect between international… Keep reading →