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Oil

Oil

Why Oil Prices Are Up Today

The reason why oil prices are up today comes from the largest union strike in the last 35 years.

The surge occurred after 3,800 United Steelworkers union members walked off nine refineries on Sunday. USW said it "had no choice" after failing to agree on new contracts.

Here's everything you need to know about oil prices today...

Oil

This Oil Chart Shows the Real Global Oil Supply Story

Pundits continue to emphasize global supply as a major problem for oil prices, but a look at this oil chart shows those concerns over supply are overstated.

There's no denying global oil supply is on the rise. In 2014, the U.S. Energy Information Administration (EIA) reported oil inventories increased 0.8 million barrels a day (bpd). In 2015, that could grow to 0.9 million bpd if production remains the same.

Talking heads say that's a sign oil prices will continue to slip. But they're missing the point.

Here's the proof that oil supply talk has been overstated...

Oil

Crude Oil Prices and the New Saudi King

Crude oil prices continue to drop in the wake of Saudi Arabia's shift in leadership. U.S. policymakers will have a tougher time with new King Salman than they've had in some time.

The new leader and his Oil Minister are the architects behind the current Saudi policy, of which there are three main targets.

oil

Oil Price Today Hits $45.21 After API Report

The oil price today (Wednesday) continued its seven-month fall after Tuesday's supply report.

As trading opened Wednesday, WTI oil fell right above $45 while Brent oil dropped to about $49.

Here's what you need to know about the oil price today...

oil

Oil Price Today and the Impact of Saudi King's Death

The oil price today (Friday) rose slightly after the death of King Abdullah of Saudi Arabia.

Early Friday morning, WTI oil jumped above $46 a barrel while Brent increased to more than $49 a barrel.

Here's what you need to know about Saudi Arabia and the state of oil prices...

Oil prices

Low Oil Prices in 2015 Will Make the Oil Industry Stronger

Low oil prices may have a silver lining, after all. Without a doubt, oil stocks have taken a pasting in recent months as oil prices have plunged more than 50%. But Money Morning Chief Investment Strategist Keith Fitz-Gerald, a seasoned market analyst with 33 years of experience, views such turmoil not with dread, but optimism. […]

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oil

Crude Oil Price Drop to $44.78 Brings Us Near Decade Lows

The crude oil price drop today (Tuesday) fell to its lowest in five years. Both WTI and Brent oil are down 59% since June 2014.

If this trend continues, oil will be the lowest in a decade.

Here's where prices are headed now...

oil

Current Price of Oil Per Barrel: $45.90

The current price of oil per barrel today (Monday) showed no sign of breaking its downward spiral. The long-suffering energy sector caused widespread losses in the U.S. equity market.

Late Monday morning, both WTI oil and Brent oil hit new six-year lows.

Here's where prices are headed now...

Oil Prices

Today's Oil Prices Spell Profit for These Energy Players

Getting started this year took a bit longer than usual.

When I returned home from the Bahamas, I had to hook up an entirely new system of computers and peripherals. To top it off, everything is in a new version of Windows.

Talk about a monopoly! After a few beers, I would be happy to tell you what I really think of it.

Finally, things are now getting back to normal.

Of course, the oil price "Grinch" is still with us. He outstayed his welcome weeks ago, but with the shorts still driving oil prices lower he's decided to extend his stay.

And as the first two trading sessions this week have shown, the instability in the energy sector remains as well.

But as I'll show you, it's not all bad news.

For one portion of the industry, lower oil prices actually mean higher profits...

Oil

Oil Prices Today Still Near Five-Year Lows

Oil prices today (Wednesday) edged up slightly after dipping to their lowest levels since April 2009 on Tuesday.

Early Wednesday, WTI oil prices dropped below $47 a barrel, their lowest level in more than five years. But at 9:45 EST, the U.S. benchmark rose to $48 for February delivery.

Here's why crude oil prices were on the rise this morning and where they are headed now...