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...
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…
Our Best Stocks to Buy List: New Top Picks in Bioscience, Energy, and More
Last week, we covered a "catalyst" that could spark a share-price rally for what is already one of the best stocks to buy, three recommendations to take advantage of rising oil prices, and a way to tap into big profits in an "other" bioscience niche that is less risky but highly lucrative.Get these, plus the top healthcare picks, dividend stocks, and more, in the full list of our best stocks to buy now.
The U.S. Oil Export Ban Is a Windfall for These Companies
After more than four decades, it looks like America is getting back into the oil export business again.
For the first time since the 1970s, Washington has opened the door to sending more U.S. crude abroad.
Of course, the United States has been exporting oil products for some time now.
In fact, America is now the largest exporter of products like gasoline, low-sulfur heating oil, and diesel fuel in the world.
But until now, companies were hamstrung when it came to the raw material itself.
Of course, there have been a few exceptions. Very heavy California crude, which has to be sold at a deep discount and for which there is not a ready domestic market, has received some permissions to export. In addition, a few tolling programs - where the raw material is exported out and finished products are imported back in - have been allowed.
But for the lion's share of what is pumped out of the ground at American fields, the domestic market has long been the only option.
This change in policy promises to open up new opportunities for investors... Full StoryRead More...
Here Are the Biggest Winners as the 40-Year Ban on U.S. Crude Oil Exports Ends
After over four decades, it looks like America is getting back into the oil export business again.
For the first time since the 1970s, Washington has opened the door to sending more U.S. crude oil abroad.And this change in policy promises to open up new opportunities for investors...
Why Crude Oil Prices Are Down Today – But Won't Stay There
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.