Four Oil Stocks to Buy to Play the Permian Basin Oil Boom
They called the Permian Basin the mother of all busts and buried it three decades ago – but they couldn't have been more wrong. Today, 27% of all of the oil rigs in the United States are currently operating in the Permian Basin.The best oil stocks to buy to play the Permian are the smaller companies that exclusively or primarily depend on the Permian for their profits - like these four...
Where Crude Oil Prices Are Headed Next
To hear some analysts tell it, geopolitics and the weather are exogenous events when it comes to energy prices. That is, somehow crude oil prices would operate "rationally" if it weren't for either of them.
That type of thinking is costly. When investors disregard the weather, the geopolitical, or both, they lose money.So as we begin the fourth quarter, I’m going to handicap where oil prices are headed next…
Price of Oil Edges Higher – Here’s What to Look for by End of 2014
The price of oil has climbed slightly this week with West Texas Intermediate (WTI) hitting an intra-week high of $95.17 for October delivery today (Friday).
Despite this week's price hike, WTI prices are still well below the three-year high of $105 a barrel they hit in June.But even though prices have dropped the last two months doesn’t mean we’re out of the woods. The price of oil could still soar in a hurry…
How Crude Oil Prices Are Driven by the "Uncertainty Factor"
Despite current geopolitical tension, crude oil prices have remained steady.
This dynamic tells us two things. First, traders are discounting the impact of geopolitical tensions in Ukraine, Gaza, and Iraq on overall availability. Second, other hotspots are having an immediate knock-on effect when it comes to crude supply.Although the daily news does not seem to be adversely impacting the price of oil, we're not out of the woods yet. Here's why...
WTI Oil Prices Down This Week, But Headed Much Higher Long-Term
WTI oil prices were down this morning (Wednesday) to a low of $97.06 for September contracts, after the Energy Information Administration (EIA) reduced its 2014 price forecast yesterday.
Citing increased oil production in the United States, the EIA dropped its 2014 forecast for WTI oil prices to $100.45 per barrel. In July, the EIA had projected a price of $100.98 per barrel.
But according to Money Morning's Global Energy Strategist Dr. Kent Moors, oil prices will be heading much higher in the long-term.Even if the short-term outlook on oil prices remains favorable…
Crude Oil Prices Are Headed Higher Thanks to These Two Global Events
Two events this week indicate the situation in two global hotspots is getting worse, and both will have a significant impact on crude oil prices.
First, the Islamic State, the terrorist group formerly known as the Islamic State of Iraq and the Levant, attacked the Mosul Dam. Second, the mayor of Kiev in Ukraine turned off the hot water.Neither is a good sign, and each promises to shake up oil prices…
Crude Oil Prices Could Hit $200 “In a Heartbeat”
WTI crude oil prices settled back down below $100 per barrel this week, but according to Money Morning's Global Energy Strategist Dr. Kent Moors, oil prices may not stay that low for very long.In fact, he sees a potential scenario where crude oil prices double from where they are right now…
Crude Oil Is the New Gold Standard
Today I want to tell you a story about energy – especially crude oil.
It involves my run in with the steak bandit…
Just stay with me here…
It begins last Saturday. On a trip to the local supermarket, I saw something you just don't see every day.
You see, I always do the grocery run. It is one of several clauses that have appeared over time in my marriage contract (no doubt about it, this is one document you need to read before signing!).
As I left the store, a crowd had formed outside. There were police all around and the parking lot had been sealed shut.
It turns out a fellow had shoved some steaks down his pants and made a dash for it.
By the time all of us had stretched our necks to see what was going on, the suspect was just sitting… in a car that wouldn't start… with the doors locked… and the windows up… in 90-degree heat.
All in all, he couldn't have been having a very good day.
Maybe he was that hungry. Or maybe he forgot his wallet at home and was late for a party. I'm not sure.
Either way, he was bound for the Allegheny County Jail.
(By the way, the jail is the impressive newer-looking building by the Monongahela River in downtown Pittsburgh. You can't miss it. It looks like an upscale Holiday Inn.)
But I digress; back to the steaks… Full Story
Crude Oil Is the New Gold Standard
Today I want to tell you a story about the steak bandit. Just stay with me here. This is a story about energy – especially crude oil.
Last Saturday at the grocery store, a fellow shoved some steaks down his pants and made a dash for it. Aside from a possible commentary on the plight of some people in the current economy, the episode with the "steak bandit" brought back a memory, along with a broader implication for the energy sector.Here's the memory and how it relates to energy...
Crude Oil Prices Down Today, but Will Stay Inflated on International Tensions
WTI crude oil prices for September delivery were down $1 today (Tuesday) to $100.67 per barrel, while Brent crude dropped $0.17 to $107.39 per barrel, despite the fact that geopolitical tensions in the Middle East and Russia remain.
Oil prices hit two-week highs last week as tensions in the Ukraine and the Middle East intensified.While WTI crude oil prices are down from their 52-week high $106.64 from June (as the Iraq crisis escalated) the humanitarian and political crises taking place throughout the Middle East and Russia will continue to have an impact on oil prices moving forward…