Can commodities do it again in 2010? I'd say the odds are against it
Stock markets staged a strong rally yesterday, January 4, boosted by strength in commodities and commodity stocks. The Standard & Poor’s 500 stock index climbed 1.6% and the Dow Jones Industrial Average was up 1.5%. Oil (West Texas Intermediate) climbed $2.15 a...Update Encana (ECA)
EnCana (ECA) formalized its split into two companies when it began trading as EnCana (ECA) and Cenovus Energy (CVE) on the New York Stock Exchange on December 9. Shareholders in EnCana received one share of the new EnCana and one share of Cenovus for each share of the...Oil to stay stuck at $70-$80 a barrel in 2010
So who ya’ gonna’ believe on oil prices in 2010? The economists at the International Energy Agency predict that oil demand will pick up sharply in 2010, rising about 1.5 million barrels a day from 2009 levels. Big oil traders, who handle about 15% of the world’s oil...Shut out in Iraq: The country's oil goes to everybody but the U.S.
All that blood and no oil? Even if you don’t believe that the Iraq war was all about oil, the results of that country’s auction for the right to explore and develop its huge oil reserves were shocking: U.S. companies were just about shut out in the results announced...ExxonMobil buys U.S. natural gas for $31 billion–I told you this was a big trend
ExxonMobil (XOM) will buy XTO Energy (XTO) for $31 billion in stock. (ExxonMobil will also assume $10 billion in XTO Energy debt.) This acquisition is just the latest example of a shift among the international energy majors from exploration and development for oil in...The short and the long of oil
Same day, November 12. Two different reports. Two different views on oil. First, the U.S. Energy Information Administration: There’s a glut of oil. Domestic crude inventories rose 1.8 million barrels to 338 million barrels in the week ending on November 6. That was...Up/down, buy/sell, gloom/boom: It's not easy to be a long-term investor
Take the long view The stock market is fixated on the short-term, we all know that. It’s an unusual occasion when stock analysts and investors look more than a few quarters ahead. That means stock prices often tend to respond to short-term news as if it were the only...Behind China's buying spree in oil: fears of a falling dollar
What do you do if you’re sitting on reserves of $2 trillion and you’re afraid that a sinking U.S. dollar will erode the value of that pile of cash? If you’re China, you buy things. Small things, naturally. $40 billion for oil drilling rights in...Buy GulfMark Offshore (GLF)
Suddenly they’re hitting gushers from the Gulf of Mexico to the South Atlantic off Brazil to the west coast of Africa off Ghana and Sierra Leone. The oil from these finds will eventually become critical to global supply—once the global economic downturn is over. The...Mexico's rapid decline in oil production is proving peak oil proponents right
The news just keeps getting worse from Mexico’s huge Cantarell oil field—and worse faster than anybody had expected too. Cantarell, a big field in the Gulf of Mexico, was once the world’s second largest oil field. But after years of under investment by Mexico’s...With Exxon and Chevron on deck, it's so far, not so good in the oil sector
And seldom was heard an encouraging word…. At least from the oil producers and oil service companies that have reported second quarter earnings as of the close of trading on July 29. The best news is that oil companies aren’t slashing capital spending...Next week it's oil, oil and more oil earnings. To know where the industry is going, forget profits and look at capital spending
Exxon Mobile (XOM). Chevron (CVX). Royal Dutch Shell (RDS.A). BP (BP). ConocoPhillips (COP). Noble Energy (NBL) Apache (APA). Petro-Canada (PCZ). All these production companies report quarterly earnings next week. Add in drilling equipment and oil service companies...Jim’s Daily Email Alerts:
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