The DJIA rose Tuesday after investors took a hard look at language used by the Federal Reserve and expect the central bank to be less hawkish on interest rates in the near term.
Today saw strong its strongest gains in the energy sector, fueled by rising oil prices. Brent crude, priced in London, increased 1.4%, while U.S. crude futures in New York were up 2%.
Here are today's top stories...
How Scottish Independence Will Affect Energy Prices
On Thursday, there will be a vote in Scotland to decide whether it will separate from the rest of the U.K., and the latest polls are too close to call.
For the government, Scottish independence would be a direct rejection of Prime Minister David Cameron.But there are also numerous implications for energy prices if the vote succeeds…
What Causes Crude Oil Prices to Rise
Crude oil prices have had a volatile summer, with West Texas Intermediate (WTI) hitting a three-year high of $105.55 a barrel in June before settling back down near $92 this week.
Even with oil's volatility, investors can have a better idea of where the price of oil is headed if they know what causes oil prices to rise.Money Morning’s Global Energy Strategist Dr. Kent Moors says that “one of the most predictable patterns in the markets” is behind huge spikes in the price of oil…
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…
Venezuela Eyeing $10 Billion Sale of Citgo to Counter Economic Woes
Facing rampant inflation and a shortage of dollars, Venezuela's state-owned oil company, Petróleos de Venezuela SA (PDVSA), is looking to sell its Citgo assets for $10 billion.
But the deal may be undervalued, and the PDVSA's financial problems may be the work of the Venezuelan government.Here's why...
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 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…
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…
What Thomas Piketty's Best Seller Has to Do with Investing in Energy
No one would have ever thought that a 700-page book on economics like Thomas Piketty's Capital in the Twenty-First Century would hit the best-seller lists and become a lightning rod for political controversy.
What does Piketty's Capital in the Twenty-First Century have to do with making money in energy? A lot more than you might think.You can't make big money investing in energy without understanding how it works...
Are We Running Out of Oil?
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...