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Oil

Article Index

With OPEC Planning to Cut Production, the Decline in Oil Prices May Not Last

By Jason Simpkins, Managing Editor, Money Morning - August 18, 2008

By Jason Simpkins Associate Editor Oil prices have plummeted 24% from the record high levels achieved in July, but the sell-off that sparked a stock-market rally over the last four weeks may not last since the Organization of Petroleum Exporting Countries (OPEC) is already gearing up to cut production. OPEC, the cartel that controls roughly […]

Slackening Demand Causes Oil Prices to Slip

By Jason Simpkins, Managing Editor, Money Morning - August 4, 2008

By Jason SimpkinsAssociate Editor Crude oil prices slipped below $119 a barrel on the New York Mercantile Exchange yesterday (Monday) for the first time in three months as tropical storm Edouard veered away from energy facilities in the Gulf of Mexico, and a government survey that revealed U.S. consumer spending flagged in June. Light, sweet […]

Crude Hits Another Record High Above $140

By Jason Simpkins, Managing Editor, Money Morning - June 30, 2008

By Jason SimpkinsAssociate Editor The benchmark crude oil rose 57 cents to settle at a record-high $140.21 a barrel on the New York Mercantile Exchange Friday, after a sell-off on Wall Street left the Dow Jones Industrial Average in bear territory. After plummeting 358 points on Thursday, the Dow dropped another 107 points to end […]

Oil Hits $140 on Depleted Dollar and Supply Concerns

By Jason Simpkins, Managing Editor, Money Morning - June 26, 2008

By Jason Simpkins Associate Editor Oil and gold each experienced a fresh resurgence yesterday (Thursday) - with crude achieving a new trading record - after the dollar weakened in response to the policy decisions by central banks around the world, and the Organization of Petroleum Exporting Countries' president said oil may reach $170 by the […]

Congress Debates High Oil Prices While Corporations and Consumers Pick up the Tab

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

By Jason Simpkins Associate Editor The price of oil edged up again yesterday (Tuesday), before settling at $137 a barrel flat, as concerns about short-term supplies continues to overwhelm Saudi Arabia's recent pledge to boost production. With Saudi Arabia offering some, albeit limited, cooperation, Congress has turned its ire on speculators and investment banks. First, […]

Oil Drops as China Ratchets Up Fuel Costs

By Jennifer Yousfi, Money Morning - June 20, 2008

By Jennifer YousfiManaging Editor Oil futures fell yesterday (Thursday) on news that China plans to sharply reduce fuel subsidies starting today, which is expected to have an effect on demand. "The announcement of the Chinese fuel price increase sent the market sharply lower," Michael Fitzpatrick, vice president for energy risk management at MF Global Ltd. […]

Special Report: Six Ways to Profit From the One-Two Punch of Soaring Oil Prices and Zooming Inflation

By William Patalon III, Executive Editor, Money Morning - June 9, 2008

By William Patalon IIIAnd Jason Simpkins Money Morning Editors Oil prices have resumed their northward climb. And inflation has returned to the American lexicon for the first time in decades. For U.S. consumers, there's no way to dodge the financial fallout of that economic one-two punch. But for U.S investors willing to make some shrewd […]

Oil "Bulls" its Way Above $139 on its Way to a New Record as the U.S. Dollar Resumes its Descent

By Jason Simpkins, Managing Editor, Money Morning - June 7, 2008

By Jason Simpkins Associate Editor Crude oil for July delivery traded at an all-time high of $139.12 a barrel on the New York Mercantile Exchange today (Friday), after the U.S. dollar nosedived on speculation that the European Central Bank would raise its key lending rate and on worries that a bigger-than-expected spike in unemployment meant […]

With Oil Speculators Blitzing, the Fed Needs to Call an Interest-Rate Reverse Play

By Martin Hutchinson, Global Investing Specialist, Money Morning - May 28, 2008

By Martin Hutchinson Contributing Editor The inflationary reality that we as consumers have been living for months may finally be starting to dawn on the U.S. Federal Reserve. The minutes of the last policymaking Federal Open Market Committee (FOMC) meeting, released on Wednesday, showed that the Fed's inflation forecast was raised from a range of […]

Cashing in on Commodities: What's Driving the Oil Bull, How Much Further It Will Go, and How Investors Can Profit

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

Editor's Note: This is the second installment of a new Money Morning series highlighting investment opportunities created by the global bull market in commodities. By Jason Simpkins Associate Editor Exactly 12 months ago, West Texas Intermediate crude oil was trading at just under $63 a barrel. Yesterday (Thursday) futures prices for that benchmark grade of […]

To the Members of Congress: The Only Three Moves That Will Stop the Oil Price Advance

By Keith Fitz-Gerald, Chief Investment Strategist, Money Map Report - May 22, 2008

By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report An Open Letter to Congress: First there was the trillion-dollar pork fest for energy. Then there was the decision to go with corn-based ethanol. Now, Congress has voted to stop adding oil to the national Strategic Petroleum Reserve (which was created in the 1970s to […]

With Oil Nearing $130, Kicking the "Oil Addiction" Looks Like the Sole U.S. Hope

By Jason Simpkins, Managing Editor, Money Morning - May 21, 2008

By Jason Simpkins Associate Editor Oil prices set a new record just shy of the $130 a barrel level yesterday (Tuesday), despite a concerted - though probably futile - effort by the U.S. government to rein in the runaway commodity. Crude oil for June delivery reached $129.331 per barrel on the New York Mercantile Exchange, […]

Soaring Oil and Gasoline Prices Worry Cost Conscious U.S. Consumers

By Jennifer Yousfi, Money Morning - May 9, 2008

By Jennifer YousfiManaging Editor The effects of soaring oil prices are finally trickling down to the pump and consumers are feeling the pinch. On Friday, oil futures hit a new record of over $126 per barrel. Prices jumped 7.4% last week, with crude oil for June delivery trading as high at $126.20 on the New […]

Money Morning Boosts Oil Target Price to $225 a Barrel, Thanks to Continued Scarcity, Burgeoning Demand in China

By William Patalon III, Executive Editor, Money Morning - May 8, 2008

By William Patalon III Executive Editor Money Morning/The Money Map Report Money Morning Investment Director Keith Fitz-Gerald - one of the first global financial gurus to predict triple-digit oil prices - has boosted his target price for crude oil from $187 to $225. The case for the target-price increase of 20% was very clear. "The […]

Oil Crosses $120 Threshold

By Jennifer Yousfi, Money Morning - May 6, 2008

By Jennifer Yousfi Managing Editor Oil surged to a new record high yesterday (Monday), as it gained $4 to trade above $120 in morning trading on the New York Mercantile Exchange. A combination of factors was cited for the rise including trouble in Iran and Nigeria, the weak U.S. dollar, and an unexpected increase in […]

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