Indianapolis – Circa October 2021: Exxon Retail Gas station. getty ExxonMobilXOM announced Thursday that it will be raising its investments in pretty much all areas of its business, perhaps most...
Tag: Oil
Why the price of oil has dropped despite new constraints on Russian supply
This week marked a pivotal moment in global geopolitics, as a European embargo and G7 price cap on Russian crude came into force. Russia, faced with the humiliation of western powers dictating the pri...
Which is a better oil and gas stock?
Shell (LON: SHEL) and BP (LON: BP) are the first and third-biggest oil and gas companies in Europe in terms of market capitalisation. The two have a market cap of over $199 billion and $102 billion, r...
JPMorgan’s Kolanovic Says Sell Energy Stocks With Oil Gap Wide
(Bloomberg) — One of the most bullish Wall Street voices on oil and gas stocks, JPMorgan Chase & Co. strategist Marko Kolanovic, is telling investors to sell energy as share prices and oil p...
Keystone Pipeline Is Shut Down After Oil Spills Into Creek in Kansas
(Bloomberg) — The shutdown of a key North American pipeline after an oil spill in Kansas roiled the flow of crude supplies across the US at a time when a fragile supply situation has rocked mark...
Mysterious, Dirt-Cheap Oil Is Being Marketed to Houston Traders
(Bloomberg) — The offer seemed too good to be true: Up to 200,000 barrels of heavy-sour crude at a $30 discount to the US benchmark. Most Read from Bloomberg The sales pitch came from Jonathan P...
Oil closes at 2022 low, so why are oil stocks still rising?
Anyone who has filled up the tank of their car this year will be aware of the rollercoaster ride that the price of oil has been on. I published analysis earlier this year about the key role that oil p...
Oil Markets Are Bearish But Downside Is Limited
WTI and Brent crude oil prices fell for a third straight session on Tuesday, with the U.S. benchmark now at its lowest level in a year. Front-month Nymex crude for January delivery closed the day -3.5...
The ‘best country in the world’ is planning to ban electric cars amid the energy crisis. Is it time to revisit oil stocks? Here are 3 big plays
Winter is coming: The ‘best country in the world’ is planning to ban electric cars amid the energy crisis. Is it time to revisit oil stocks? Here are 3 big plays Electric vehicles have bec...
Oil plunge, tech collapse and Fed cuts? Strategist shares possible 2023 market ‘surprises’
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, August 29, 2022. Brendan McDermid | Reuters After a tumultuous year for financial markets, Standard Chartered outlin...
You Won’t Believe How Low Gasoline is Likely to Go
Gasoline prices fell by $0.50 a gallon since November, giving consumers a reprieve into the holiday season. Prices have declined since early November with Americans saving a cumulative $200 million a ...
Oil Plummets, Erasing All 2022 Gains as Traders Flee Market
(Bloomberg) — Oil dropped to the lowest since last December as investors pared back crude positions amid a broader market sell-off. Most Read from Bloomberg West Texas Intermediate settled near ...
Jamie Dimon says Ukraine war shows we still need cheap, secure energy from oil and gas
Dimon said in June that he was preparing the bank for an economic “hurricane” caused by the Federal Reserve and Russia’s war in Ukraine. Al Drago | Bloomberg | Getty Images One key l...
Oil Merchants Troubled by Trade Norms That Don’t Fit the Cap
(Bloomberg) — The oil price cap that the Group of Seven nations imposed on Russia may finally be in place, but it’s yet to convince one vital group of people: the traders who can help get the su...
Los Angeles bans oil and gas drilling within city limits
An oil pumpjack operates in the Inglewood Oil Field on January 28, 2022 in Los Angeles, California. Mario Tama | Getty Images The Los Angeles City Council has voted to ban new oil and gas drilling and...
OPEC+ agrees against cutting oil production further: sell oil stocks?
“XLE” – the Energy Select Sector SPDR Fund is in the red on Monday after OPEC+ agreed against cutting oil production further that sent oil prices back under $80 a barrel. What to expect from energy st...
Jim Cramer’s Investing Club meeting Monday: Oil sale, Starbucks
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. Trimming HAL SBUX downgrade...
Silvergate Capital, MGM Resorts, Bilibili, Murphy Oil & more
A United Airlines terminal at John F. Kennedy International Airport in New York January 24, 2011. Jessica Rinaldi | Reuters Check out the companies making headlines in premarket trading Monday. United...
Kuwait Says Oil Buyers Don’t Want to Boost Imports Next Year
(Bloomberg) — Kuwait’s state energy company said customers are reluctant to increase oil imports next year, signaling that the market’s being suppressed by global economic weakness. Most Read fr...
Oil Jumps as China Loosens Curbs and OPEC+ Keeps Output Steady
(Bloomberg) — Oil surged after OPEC+ kept oil output steady, sanctions on Russian crude kicked in, and China made further progress toward reopening. Most Read from Bloomberg West Texas Intermedi...
OPEC+ Leaves Lower Oil Production Targets In Place—As Biden Reportedly Scraps Plans To Punish Saudi Arabia Over Cuts
Topline The OPEC+ alliance of oil-exporting countries left its targets for global oil production in place Sunday in its first meeting since announcing cuts in October, as the Biden Administration repo...
The U.S. economy won’t collapse under Fed’s ‘weight’ based on the performance of these sectors despite inflation and oil risks
Investors are trying to read the tea leaves in a choppy U.S. stock market to gauge whether its recent run higher can continue after Federal Reserve Chair Jerome Powell unleashed bullish sentiment at t...
Oil Prices Jump Ahead Of OPEC+ Meeting, Expected Quota Cuts
Oil prices dipped Friday, but made their first weekly advance since early November, as energy markets braced for an OPEC+ meeting and an embargo of Russian oil. Analysts expect an output cut from OPEC...
Oil ETFs Plummet on Russian Oil Cap
Oil exchange-traded funds plummeted Friday as the European Union announced a price cap on Russian oil. The ProShares Ultra Bloomberg Natural Gas (BOIL) and the United States Natural Gas Fund LP (UNG) ...
A top aide to Ukraine’s President Zelensky accuses BP of war profiteering with stake in Russian oil firm
A major [hotlink ignore=true]energy[/hotlink] company that pledged to sell its stake in Russia has yet to do so, and a top Ukrainian official just accused it of pocketing millions from the war. Britis...
Could A Controversial Chevron Deal Be A Prelude To Venezuela’s Oil Renaissance?
Venezuelan President Nicolas Maduro shows the accord signed in Mexico on November 26 between the … [+] Venezuelan government and opposition sectors during a press conference at the Miraflores Pr...
Oil Firm Eyeing 3,755% Q4 Growth Leads 24 Fastest-Growing Stocks
As December gets underway, investors look ahead to what the fourth-quarter earnings season might bring. Led by oil & gas play H.F. Sinclair (DINO), this stock screen highlights 24 of today’s...
Canadian Oil Giant Plans to Pump Record Crude in 2023
(Bloomberg) — Canadian Natural Resources Ltd., Canada’s largest oil and gas producer, is aiming to raise production as high as 1 million barrels a day in 2023 for the first time as the company r...
Opinion: Five energy companies are seeing bullish stock buying from their own executives
Even though energy stocks are up 49% this year, executives keep buying their own companies’ shares. Does that make sense? Yes, for two reasons. Oil will trade a lot higher next year, and energy stocks...