Crude Oil

Price of Oil Edges Higher – Here’s What to Look for by End of 2014

Oil

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…

The One "Great Danger" That Could Send Crude Oil Prices Much Higher

Crude oil prices

Over the past several months, ISIS forces in Iraq have been selling oil from captured refineries on the black market in order to fund their terrorist activities and wreak havoc on the region.

Despite the crisis in Iraq, crude oil prices are down this month near $93 per barrel.

But Money Morning's Global Energy Strategist Dr. Kent Moors says a "great danger" in the region could send crude oil prices much higher.

Watch this video for the details...

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WTI Oil Prices Down This Week, But Headed Much Higher Long-Term

WTI oil price

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

crude oil prices

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 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

crude oil

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

crude oil prices

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…

Geopolitical Tensions Will Keep Driving Crude Oil Prices

crude oil prices

A bevy of geopolitical issues sent WTI (West Texas Intermediate) crude oil prices higher late Thursday, with prices peaking at $103.94 per barrel for August delivery just before 7:00 p.m. Today, crude oil prices have settled back down below $103 per barrel this morning.

Crude oil prices may be back down today, but they're still up nearly 15% from their $89.74 low in January.

According to Money Morning’s Global Energy Strategist Dr. Kent Moors, here’s where they’re headed now…

Are We Running Out of Oil?

Empty fuel

For many years, industry experts have been sounding the alarm that America, and the world, are about to run out of oil.

Every expert who's predicted "the end of oil" has been wrong in the past. But with global energy consumption at an all-time high, and much of the world's economy dependent on oil, the question is: Are we running out of oil?

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

Profit from High Crude Oil Prices with These Secure, Under-the-Radar Stocks

Kent Moors

WTI crude oil prices for delivery in August were down slightly yesterday (Tuesday) to $103.43 a barrel, which was a $0.10 drop from Monday. And while crude oil prices are down from 52-week highs, they're still at inflated levels because of the crisis in Iraq.

But that doesn’t mean investors can’t profit. Money Morning’s Dr. Kent Moors has found oil stocks to buy now that are profiting from foreign turmoil.

In fact, the longer prices stay high, the better they will do…

What Lifting U.S. Export Ban Means for Crude Oil Prices

crude oil prices

In August, the U.S. government will begin allowing the exportation of crude oil for the first time in 40 years.

That has many American consumers wondering what will happen to crude oil prices now that the United States is exporting oil.

Money Morning's Global Energy Strategist Dr. Kent Moors appeared on CCTV Friday and discussed the benefits of U.S. oil exportation, and what effect oil exports will have on consumers and oil prices.

See what impact U.S. oil exports could have on jobs, revenue, and local taxes.

Read More…

Why Crude Oil Prices Are Down Today – But Won't Stay There

crude oil prices

Crude oil futures ticked a tad lower Thursday as investors digested the supply and export outlook in Iraq, as well as demand prospects from the United States - but the dips are likely temporary.

As Money Morning Global Energy Strategist Dr. Kent Moors recently explained, prices further out on the futures curve are rising much more quickly than anticipated as worries mount over global supply and demand.

Here’s what’s weighing crude oil prices down today… at least for now.

Gasoline Prices Are Headed to $4 Per Gallon… and Here's Why

Futures prices for both crude and gasoline were down yesterday. Unfortunately, that barely tells the real story.

Thanks to the growing Sunni insurrection and the rapid unraveling of the Shiite government in Baghdad, you can bet that prices for both crude and gasoline will be making the headlines over the next two months.

As the next-month rates (August 2014) fell in yesterday's trade, oil prices as far out as December 2018 began to spike.

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