Energy companies led US stock indexes mostly higher as crude oil prices rose, the AP reports. Banks and other financial stocks fell Wednesday as bond yields headed lower, which will mean lower interest rates on loans and lower profits for banks. US Bancorp lost 1.3%. Depomed dropped 3% after...
Energy companies led U.S. stock indexes mostly higher in midsession trading Wednesday as crude oil prices rose. Banks and other financial stocks fell the most as bond yields headed lower. Investors had their eye on the latest company earnings and economic news. New data showed more people signed...
Authored by Tsvetana Paraskova via OilPrice.com, The recent drop in oil prices, which has almost wiped out the price gains since OPEC announced its supply-cut deal, is coming just ahead of the spring season when banks are reassessing...Show More Summary
Perhaps the same way Saudi Arabia can be “controlled” and kept from exporting Wahhabism as freely as they have. Through the low price of oil. Both Russia and Saudi Arabia (and a host of other nations) fund their adventures partially (for SA, almost wholly) through oil revenues. Unlike the US, most “oil companies” in other countries […]
No wonder OPEC has been feeling so nauseous lately.
The Russian economy has been hit hard by the global drop in oil prices, which began in the summer of 2014. Oil prices, once over $110, now sit slightly above $50. Oil exports are a vital component of the Russian economy and made up $250 billion of the country’s exports until the collapse in prices. Show More Summary
LONDON — Shockwaves from President Donald Trump's failure to overhaul the Affordable Care Act, also known as Obamacare, hit the markets on Monday. Investors were concerned that President Trump won't be able to cut taxes and increaseShow More Summary
Oil companies' cost-cutting efforts virtually ensure we won't soon see a return to $100 per barrel pricing.
Is it raining in Texas? That depends on who you ask. The rainy day fund contains $10-plus billion at a time when slumping oil prices have left the state facing … Click to Continue »
U.S. politics and fewer travelers means more competition and cheaper prices.
Authored by Nick Cunningham via OilPrice.com, Oil prices are heading down again on swelling U.S. crude oil inventories, with Brent dropping below $50 per barrel for the first time this year. The OPEC deal that has taken more than 1 million barrels per day of oil off the market has not succeeded in reversing this bearish trend for inventories. Show More Summary
Crude has been sliding this week, but prices have risen 0.13% Friday. The iPath S&P GSCI Crude Oil ETN (OIL) has gained 0.39%, and United States Oil (USO), 0.20%. That hasn’t helped energy stocks. The Energy Select Sector SPDR (XLE) has fallen 0.15% so far today. Index constituents Chevron (CVX), EOG Resources (EOG), and Halliburton […]
2017 is expected to bring the highest gasoline prices since 2014. According to a recent report from Triple A, the average cost for regular, unleaded gas is expected to rise to $2.49 per gallon this
The following graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the February 2017 seasonally adjusted annual sales rate (SAAR).Heavy truck sales really collapsed during the great recession, falling to a low of 181 thousand in April and May 2009, on a seasonally adjusted annual rate basis (SAAR). Show More Summary
GOOD: Saudis Are the Oil Market’s Biggest Losers. The last few years have been difficult for anyone in the business of selling oil, as prices tumbled from over $110 per barrel to a nadir of just $27, before rebounding to the middle ground they reside in today, at roughly $50 per barrel. Bargain crude has […]
In Benin via SciDev: Phileol-HVC is marketing a mixture of neem oil and essential oils branded BioPhyto. Designed for spraying horticultural crops, it costs a fraction of the price of synthetic pesticide, yet still provides the desired pest control and environmental benefits...[more]
China's offshore oil and gas producer CNOOC Ltd reported its worst annual result since at least 2011, with revenue from its core oil and gas business tumbling 17 percent last year, but it expects to raise output 2017 as oil prices rebound. CNOOC…
Authored by Tsvetana Paraskova via OilPrice.com, It’s been six months now that oil prices have been reacting to OPEC, first to the possibility of an agreement, and then to the production cut deal itself, forged by OPEC to rebalance the market. Show More Summary
Unless Indian policymakers speed up the country's reform process and increase energy security, Indian GDP economic growth has a real chance of falling back to a 3%-4% growth rate. Should global oil prices spike due to Russian or Middle Eastern aggression, India could even fall into a recession.