By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report The U.S. Energy Department said earlier this week that it expects average monthly gasoline prices to peak at $3.60 a gallon this spring, since the high prices will serve to curb demand. For investors who are tired of feeling like they've been mugged every time they fill […]
Category
Oil
Oil Prices Surge After Basra Bombings
By Jason Simpkins Associate Editor After surging nearly $5 Wednesday, light, sweet crude for May delivery rose as much as $2.05 to $107.95 a barrel on the New York Mercantile Exchange yesterday (Thursday) as concerns about violence in Iraq compounded the effect of supply concerns. A bomb exploded at the Zubair-1 pipeline in Basra, which […]
Three Ways to Play Money Morning's Prediction That Oil Prices Will Reach $187 a Barrel
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report A plummeting greenback, inflationary fears fanned by the U.S. central bank and soaring global demand are combining to fuel a record advance in crude oil prices. But the market madness of recent days is just the start. Crude oil prices will hit $187 a barrel within […]
Gazprom Drills $70 Billion into Arctic Exploration, Plans to Double Crude Production by 2020
By Mike Caggeso Associate Editor Gazprom Neft OAO (OTC:GZPFY) – Russia's largest company and the world's largest producer of natural gas – plans to double its crude production by 2020 and spend $70 billion developing Arctic fields, Chief Executive Officer Alexander Dyukov told Moscow-based newspaper Kommersant. Dyukov didn't specify how the company plans to raise […]
Kazakhstan Squeezes the Last Drop Out of Eni
By Jason Simpkins Associate Editor After months of discussion and management restructuring, work at one of the world's largest oil fields is set to continue. Under the terms of a new agreement Eni S.p.A (E), the Italian oil company, will cede its control over operations at the Kashagan oil field in Kazakhstan. Kazakhstan's state oil […]
Why the President's Push for Lower Oil Prices is Nothing But a Pipe Dream
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report Every president has a defining moment when the American people, and indeed the world, recognize that he's badly out of touch with some aspect of reality. I can't help but think that President George W. Bush ["Dubya"] has just had his moment as I watch […]
Investors Will Benefit From New Plan to Have the United States and China Cooperate in Curbing Oil Speculation
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report Here's a headline investors probably never expected to see: The United States and China have agreed to cooperate on the management of the two countries' strategic oil reserves. We don't know whether to find this story – first reported by China's state-run Xinhua News Service […]
Outlook 2008: Continued Supply Crunches Will Add a "Glow" to Uranium Stocks
Editor's Note: This is the Sixth Installment of an Ongoing Series Highlighting the Global Investing Outlook for 2008 By Don Miller Contributing Writer Of all the commodities to ride the volatile global roller coaster in 2007, uranium had the wildest ride. Overall, it gained 28% for the year. But that seemingly simple statistic masks a […]
Oil Hits $100 a Barrel on Global Political Tension and Supply Concerns
By Jason Simpkins Associate Editor After flirting with the century mark for months, crude oil finally it the record $100 a barrel level yesterday (Wednesday), fueled by violence in Nigeria, bad weather in Mexico and an unprecedented admission by the Middle East oil cartel that petroleum supplies will fall short of demand by 2024. An […]
Outlook 2008: How to Profit When Oil Bubbles Up Above the $100 Level
Editor's Note: This is the Second Installment of an Ongoing Series Addressing the Outlook for Investment Opportunities and the Global Economy in 2008. By Jason Simpkins Associate Editor The price of oil has climbed nearly 50% this year, a rise that culminated on Nov. 21 when the "black gold" hit a record high of $99.29 […]