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China Extends String of Oil Acquisitions In Ghana Deal

By Don Miller, Contributing Writer, Money Morning - October 12, 2009

China is stepping up its efforts to secure access to more of the world's oil by teaming its China National Offshore Oil Corp. (NYSE ADR: CEO) with the Ghana National Petroleum Corp. (GNPC) to bid for a stake in a giant oil find off West Africa. The bid will compete against Exxon Mobil Corp.'s (NYSE: […]

Gold Prices Soar to Record High on Report of Secret Plan to Dethrone the Dollar

By Jason Simpkins, Managing Editor, Money Morning - October 7, 2009

Gold prices surged to record high $1,045 an ounce yesterday (Tuesday), after a report surfaced that global oil producers are planning to stop using the U.S. dollar for oil trade. "There's no telling the veracity of these reports, but the general trend has been going in this direction anyway: a weaker dollar and rising gold," […]

China Blazing Its Own Trail in Africa

By Jason Simpkins, Managing Editor, Money Morning - September 30, 2009

China's trade with Africa has increased ten-fold over the past decade, as the rising Asian power has rapidly matured into a political and economic powerhouse. And with China still in the thralls of an epic growth spurt, its designs on Africa's resources are beginning to conflict with those of the West. Indeed, Africa - with […]

Traders Anticipate a Drop in Oil Prices as Supply Outruns Demand

By Jason Simpkins, Managing Editor, Money Morning - September 22, 2009

The number of traders betting that oil prices will drop outnumbers the number of traders who believe they will rise by the largest margin ever. Some analysts believe prices will fall significantly lower in the near future - at least into the low $60 a barrel range - after soaring to $75 a barrel in […]

The Only Way to Profit From a Stock Market Bubble

By Martin Hutchinson, Global Investing Specialist, Money Morning - September 18, 2009

Former U.S. Federal Reserve Chairman Alan Greenspan said it was impossible to tell a bubble while you were in it. Well Alan, I’ve got news for you: We’re in one now. The Standard & Poor’s 500 Index is up 58% from its March lows, gold has finally broken through the $1,000-an-ounce level – and may […]

The World's Most Exciting Market - Until They Spoiled it

By Martin Hutchinson, Global Investing Specialist, Money Morning - September 17, 2009

Over the past year, Brazil has established itself as one of the most exciting markets in the world for investors. Its Bovespa stock index is up 55% this year. And the discovery of the huge new Tupi oil field off its east coast has led some investors to refer to Brazil as the "New Saudi […]

Oil Prices Gaining Momentum as OPEC Keeps a Lid on Production

By Bob Blandeburgo, Associate Editor, Money Morning - September 11, 2009

The Organization of the Petroleum Exporting Countries (OPEC) said yesterday (Thursday) that it would keep production quotas at 24.845 million bpd and urge members to adhere to targets, as global demand has yet to return in full. However, a report from the International Energy Agency (IEA) indicated that demand is recovering more quickly than previously […]

Three Big Reasons Oil Prices Will Rally Back Big Time

By Investment News Staff, Money Morning - May 23, 2009

Experts roundly agree that the recession is only a short-term blip in the long-term escalation of oil prices.

And this time, there are 1.05 trillion reasons why oil is going to climb well past its peak last year.

China Continues its Commodities Binge with Brazilian Oil Deal

By Jason Simpkins, Managing Editor, Money Morning - February 21, 2009

By Jason Simpkins Managing Editor Money Morning China Development Bank, one of China's largest state-owned enterprises, has agreed to lend $10 billion to Brazil's Petrobras (PBR) in exchange for a long-term supply of oil - the latest illustration of how Beijing is using the global downturn to further its domestic agenda. Money Morning first reported […]

Exxon Records Biggest Profits in U.S. History

By Don Miller, Contributing Writer, Money Morning - January 31, 2009

By Don Miller Associate Editor Money Morning Exxon Mobil Corp. (XOM) reported the biggest annual corporate profit in U.S. history on Friday, even as crude oil prices plummeted from summer highs, pummeling comparable fourth-quarter earnings by 33%. Exxon reported profits of $45.2 billion for 2008, continuing an epic run that investors have almost come to […]

OPEC Left to Deliberate as Oil Prices Plummet

By Jason Simpkins, Managing Editor, Money Morning - November 24, 2008

By Jason Simpkins Associate Editor Money Morning Crude oil prices have plunged two- thirds from its record high during the summer, and the likelihood they’ll fall further has caused panic among oil-producing nations and inspired the Organization of Petroleum Exporting Countries (OPEC) to call another meeting this week to discuss possible production cuts. After blitzing […]

OPEC Production Cut Up in the Air as Members to Clash Over Oil Prices

By Jason Simpkins, Managing Editor, Money Morning - October 23, 2008

By Jason Simpkins Associate Editor Money Morning In the face of the worst worldwide financial crisis since the Great Depression, the Organization of Petroleum Exporting Countries (OPEC) is expected to cut crude-oil output and raise prices at an emergency meeting in Vienna tomorrow (Friday). But even with crude oil prices down more than 50% from […]

How China is Beating the United States in the Global Oil Game

By Keith Fitz-Gerald, Chief Investment Strategist, Money Map Report - October 16, 2008

By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report Iraq recently signed its first oil deal in 35 years with a foreign company. And – quite surprisingly to many observers – the company wasn’t one of ours. Not surprisingly, the U.S. news media barely acknowledged the deal – even though the agreement was major news throughout […]

Oil Slides on Safe Storm Passing, Stronger Dollar

By Jennifer Yousfi, Money Morning - September 3, 2008

By Jennifer YousfiManaging Editor Oil prices dropped yesterday (Wednesday) as news that oil majors’ Gulf of Mexico facilities were unscathed coupled with the dollar’s seven-month high against the euro sent crude futures lower. Light sweet crude oil for October delivery dropped 86 cents to $108.85 per barrel on the New York Mercantile Exchange (NYMEX) yesterday. […]

China and Iraq Finalize Oil Contract, as Western Oil Majors Waver

By Jason Simpkins, Managing Editor, Money Morning - August 22, 2008

By Jason Simpkins Associate Editor China and Iraq will sign a deal next week to develop the Ahdab oil field, 100 miles southeast of Baghdad, at time when political gridlock and security concerns have cast doubt over several pending short-term contracts. The new agreement, valued at $1.2 billion, is a variation of a deal struck […]

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