By Money Morning Staff Reports, Money Morning - • Print | Email
Oil prices have been rallying to their highest levels of the year so far.
And we're confident that they can still run higher next year.
Here's our newest oil price prediction - and the perfect way to profit from it now...
By Dr. Kent Moors, Global Energy Strategist, Oil & Energy Investor • @KentMoors_OEI - • Print | Email
For more than two years, we've been hearing pundits say "Oil's going to stay lower for longer."
And Kent has consistently said oil prices may be depressed, but that eventually we'd see market balance, which would provide higher and higher "floors" from which crude prices can move up.
But, according to Kent, that's only part of the story.
That's why he was asked to appear on the China Global Television Network – to discuss whether this rise is connected to events in Saudi Arabia, or U.S. oil exports, or something else entirely.
Because, as Kent will tell you, the biggest crude oil profits go to investors with the best grasp of the complete market picture.
World stock markets were mostly firmer overnight, on generally upbeat corporate earnings that were reported late this week. U.S. stock indexes are pointed toward firmer openings when the New York day session begins.
Gold prices are slightly lower and hit a three-week low overnight, amid a lack of risk aversion in the marketplace. Gold and silver bears have downside technical momentum.
World stock markets were mixed in quieter trading overnight. U.S. stock indexes are pointed toward narrowly mixed openings when the New York day session begins. Stock markets and other financial markets are on hold as traders and investors are awaiting the key markets event of the week: Thursday's European Central Bank regular monetary policy meeting. Many expect the ECB to announce more details on the winding down of its big bond-buying program.
The Euro currency could see volatile price action in the immediate aftermath of the ECB meeting, including ECB Chief Mario Draghi's press conference.
By Money Morning News Team, Money Morning - • Print | Email
Since falling to a low of $42.48 in June, oil prices have surged 23.39% to today's price of $52.43.
And the gains aren't stopping there according to our latest oil price prediction.
Here's why oil prices are rising, including our exact oil price forecast and target...
World stock markets were mostly weaker in overnight trading, pressured a bit by some downbeat corporate earnings reports. Japan's Nikkei stock index saw its record-setting 16-session winning streak halted Wednesday. U.S. stock indexes are pointed toward modestly lower openings when the New York day session begins.
Gold and silver prices are lower and hit a three-week low overnight. The bears have downside technical momentum in these two precious metals markets.
World stock markets were mixed overnight. U.S. stock indexes are pointed toward firmer openings when the New York day session begins, after a rare sell off that occurred on Monday. Global equities traders are focused on corporate earnings reports this week.
Gold prices are slightly lower in pre-U.S.-session trading. The bears have some technical momentum on their side early this week. There have not been any flare-ups on the geopolitical front the past couple weeks, and that is also working against the safe-haven metal.
World stock markets were mostly higher overnight. U.S. stock indexes are also pointed toward firmer openings and new record highs when the New York day session begins.
Gold prices are lower in pre-U.S.-session trading, amid the better risk appetite seen in the marketplace in recent sessions. A firmer U.S. dollar indexx to start the trading week is also bearish for the gold and silver markets.
World stock markets were mostly higher overnight. U.S. stock indexes are also pointed toward firmer openings when the New York day session begins. Global equities were boosted overnight in part on news the U.S. Senate passed a tax-reform blueprint package late Thursday. If the so-called blueprint becomes law it would likely help to stimulate the U.S. economy via lower tax rates.
Gold prices are lower in pre-U.S.-session trading amid the keener risk appetite in the marketplace Friday, and on a higher U.S. dollar index. The greenback was also supported on the U.S. Senate passage of the tax-reform blueprint.
World stock markets were mostly firmer overnight, but in quieter trading. U.S. stock indexes are pointed toward firmer openings when the New York day session begins. The U.S. stock indexes are at record highs this week. Hopes for tax cuts in the U.S. are helping to lift the U.S. stock market.
Gold prices are weaker again in pre-U.S.-day-session trading. The bears have gained some downside technical momentum this week. A higher U.S. dollar index this week is also working against the gold and silver bulls.
