By Jason Simpkins Staff Writer October crude oil closed at $80.09 a barrel yesterday (Thursday) – the first close above $80 for a New York Mercantile Exchange futures contract. Money Morning projected $80-a-barrel oil at the beginning of August [To read our investment-analysis article, “Is Crude Oil on a Flight to $80 Barrel?” click here]. […]
Category
Oil
U.S. Stocks Soar Tuesday, Gold and Oil Prices Jump, but Trading Abroad is a Mixed Bag
From Staff Reports Stock prices soared yesterday (Tuesday), aided by some strong earnings reports and a growing belief that U.S. Federal Reserve policymakers will cut short-term interest rates at their Sept. 18 meeting. Oil prices hit a fresh record yesterday. West Texas Intermediate crude (October) gained 76 cents a barrel to close at $78.25 a […]
China's Crude Oil Imports Surge to Record High
By Jason Simpkins China’s crude oil imports climbed 39% to a record high last month, and Saudi Arabia was the nation’s largest supplier. China’s oil imports have more than tripled in the last five years, and that amount is only going to increase as the world’s second-largest energy consumer tries to keep pace with its growing […]
ADA-ES Sets the Stage for the World's Largest Activated Carbon Plant
By Jason Simpkins A subsidiary of ADA-ES Inc. (NASDAQ:ADES), a leader in environmental technology, is out to slash air pollution – and in a big way. So big, in fact, that the company is planning to build the world’s biggest plant for producing activated carbon, a substance that allows coal-fired power plants to operate more […]
Belarus Assuages EU Fears; Agrees To Pay Part of Gazprom Debt
By Jason Simpkins Belarus eased some of the tensions with Russian oil-and-gas giant, Gazprom, Friday, by paying off part of its debt. Belarus has reportedly paid $190 million of its $456 million dept to Gazprom. The deal was a source of major relief throughout the European Union. The Gazprom-Belarus disagreement started over a supply contract negotiated […]
Total and Imperial Oil Companies Report Decline In Profit, While Shell Sells Assets
By Jason Simpkins Two international oil companies yesterday (Thursday) reported a drop in second-quarter profits, while a third announced it was selling assets. French energy company Total (NYSE: TOT) reported a slight drop in second quarter profits. Net income fell to $4.66 billion, a 1% decline from the $4.7 billion taken in a year ago. Shares of […]
Is Crude Oil on a Flight to $80 a Barrel?
By Jason Simpkins It appears that rising oil prices will remain a solid bet for investors – at least for the near future. Crude at $80 a barrel may be a reality sooner than we think. Amid swirling concerns about oil supplies, crude oil futures closed at a record $78.21 a barrel on the New […]
Oil Companies Continue to Take Risks Despite Objections
A group of U.S. pension funds have leveled pointed criticisms at several oil and gas companies for their involvement in Iran's energy sector.
Why Libya and Algeria Could Be Europe's Solution For Oil
Europe cant rely on Russian gas sources anymore and must look to other countries like Libya and Algeria
Iran-Venezuela Partnership Presents New Challenges in the Global Oil Sector
Just weeks after two U.S. oil giants were forced out of Venezuela, Venezuelan President Hugo Chavez and Mahmoud Ahmadinejad, President of Iran, are forging multi-billion oil deals that will further cement relations between the two anti-American nations.&