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 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…
Geopolitical Tensions Will Keep Driving 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…
Profit from High Crude Oil Prices with These Secure, Under-the-Radar Stocks
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…
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.Here's why yesterday's drop in prices is just the pause before the storm...
Dow Jones Today Moving on These Top Stories
Dow Jones today, June 23, 2014: The Dow Jones Industrial Average and the S&P 500 both hit record highs on Friday, finishing the week on a positive note. U.S. crude-oil benchmark closed at its highest level in nine months as geopolitical tension continues to shake Iraq. Brent futures ended a seven-day streak, finishing below $115 a barrel.
This morning, crude oil prices were again on the rise as battles between Sunni militants and Iraqi government troops continued, and the fight is fast approaching the nation's capital of Baghdad.Here's the news that will be moving the Dow Jones today:
U.S. Stock Markets Finish in the Green Friday; Oil Futures Notch 2014 Record
U.S. stock markets posted gains across the board on Friday, despite growing macroeconomic concerns.Here's the scorecard from today's trading session:
U.S. Oil Futures Today: Watch Them Soar on These Two Factors
Today (Monday), U.S. oil futures hit a five-month high on fallout from the Ukraine conflict, further supported by inclement weather across the United States.
On the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) crude for delivery in April rose to a session high of $104.65 a barrel, the highest since Sept. 23.To continue reading, please click here...
Best Oil Stocks to Buy as U.S. Jumps to World's Top Oil Producer
It's time to look at oil stocks to buy as the United States gets ready to surpass the world's biggest oil producers.
Earlier this month, the International Energy Agency (IEA) reported that the United States will jump past both Russia and Saudi Arabia as the world's top oil producer by 2015.To continue reading, please click here...
- How to Hedge Oil Prices in Volatile Markets The prospects are very good for the oil prices. But the markets promise to be volatile. Here's the best way to build an "oil insurance plan." Read more... Read More...
Frack or Fail: Is It Time For California's Liberals to Go?
California is in a LOT of trouble financially. Cities are going under and the state can't balance its budget. It also has almost half a trillion in state pensions to fund and revenue is drying up.
But there is one way out: Tap the largest oil and gas play in the Lower 48.
The question is, whether this left leaning state crowded with special interests like the Sierra Club will actually let oil services companies begin to start fracking on state land.
In our inaugural Money Morning Fight Club brawl, Frank Marchant and Garrett Baldwin square off on this contentious issue. The best part is we are asking you to turn in your scorecard and pick the winner at the end.
So let's get ready to rumble...
- Buy, Sell or Hold: Strong Oil Prices Make Apache Corp. a Good Bet Apache Corp. (NYSE: APA) is not your average oil company. Even with oil prices still comfortably in the $90.00 range, Apache shares recently fell below their 52-week lows. In fact, since April 2011 Apache shares are down by 44%. But with a strong balance sheet and healthy sales forecasts, this company is doing all the right things. Read More...
Australia Shale Oil Discovery Continues the Country's "Lucky" Streak
Investors are well aware of the shale oil revolution in the United States. But the "revolution" does not end here; it is spreading globally to countries as diverse as China and Poland.
There is one country in particular though that may experience circumstances similar to the United States, if not greater.
I'm talking about Australia, which has often been called "The Lucky Country." That description was first penned in 1964 by Donald Horne and he actually meant it negatively at the time.
But in recent decades, the term has been given a positive spin thanks to Australia's abundance of natural resources and its geographical location near the world's biggest consumer of commodities - China.
And Australia may have struck luck again thanks to the recent announcement of a massive shale oil discovery.Read More...
How China and Saudi Arabia Mean You Should Bet on Higher Oil Prices
As Money Morning Global Energy Strategist Dr. Kent Moors pointed out not long ago, the sky is not falling on oil prices despite what the doomsayers believe.
There are two crucial countries that are behind the recent rise in oil prices: China and Saudi Arabia.
And if these two nations keep on their current path, it will mean one thing...
Even higher oil prices in 2013. Here's why.Read More...