Oil
Oil
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Congress Debates High Oil Prices While Corporations and Consumers Pick up the Tab
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, […]
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Oil Drops as China Ratchets Up Fuel Costs
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. […]
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Special Report: Six Ways to Profit From the One-Two Punch of Soaring Oil Prices and Zooming Inflation
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 […]
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Oil "Bulls" its Way Above $139 on its Way to a New Record as the U.S. Dollar Resumes its Descent
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 […]
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With Oil Speculators Blitzing, the Fed Needs to Call an Interest-Rate Reverse Play
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 […]
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Cashing in on Commodities: What's Driving the Oil Bull, How Much Further It Will Go, and How Investors Can Profit
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 […]
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To the Members of Congress: The Only Three Moves That Will Stop the Oil Price Advance
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 […]
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With Oil Nearing $130, Kicking the "Oil Addiction" Looks Like the Sole U.S. Hope
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, […]
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Soaring Oil and Gasoline Prices Worry Cost Conscious U.S. Consumers
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 […]