Bad day for consumer stocks; good day for commodity shares
The Conference Board’s latest reading on consumer confidence showed consumer expectations in June fell to their lowest level since 2013. The consumer confidence index for June fell to 98.7 from 103.2 in May, below expectations for a reading of 100. The...
Natural gas prices soar–no summer slump in prices this year thanks to war in Ukraine
Normally at this time of year natural gas prices retreat and companies actually stash natural gas in storage for use during hurricane outages in the fall and winter heating season. Not this year, however. Today natural gas prices in the U.S. hit a new 18-year high. At...
Another round of higher oil prices headed our way
Today, April 21, reports from a number of different sources are pointing to lower oil production–which will mean higher oil prices. Even from current levels. And oil prices are significantly higher in the past three weeks. At 3:00 p.m. New York time today U.S....
Please Watch my YouTube video: Trend of the Week: Don’t sell those oil stocks yet
I’m starting up my videos on JubakAM.com again–this time using YouTube as a platform. My one-hundredth-and sixteen YouTube video “Don’t Sell Your Oil Stocks Yet” went up today. Don’t sell those oil stocks yet! Back at the beginning...
For investors hedging the Ukraine/Russia conflict, here’s my best estimate of what’s next
If you believe as I do that one of Russian President Vladimir Putin’s goals in igniting the current conflict in Ukraine was to attempt to use Europe’s dependency on Russia natural gas to drive a wedge among NATO members, the most recent developments make a...
Oil moves toward $95 a barrel on rising Ukraine war fears
International benchmark Brent crude jumped as much as 4.7% to $95 a barrel for the first time since 2014. Brent was up 23.68% and trading at $94.77 at 3 p.m. New York time Friday. U.S. benchmark West Texas Intermediate, which normally trades below Brent in price, was...
Oil breaks above $90 for first time since 2014
On Thursday, Feburary 3, U.S. crude benchmark West Texas Intermediate rose above $90 a barrel–it closed at $90.87, up 0.60% for the day, for the first time since 2014. International benchmark Brent crude gained 0.42% to close at $91.53 a barrel. Of course, it...
Putting on hedges for a Russia-Ukraine conflict today (as in NOW)
I only recommend options on my subscription sites JubakAm.Com and JugglingWithknives.com. And this week on those sites I’ve closed the two VIX CALL Options I bought back on December 31 as protection (and potential profits) from an increase in market volatility...
Sell Equinor after oil recovery and dividend date
Oil prices have bounced back big time and with them the prices on oil stocks. I still think the long-term trend is against oil producers as efforts to combat global warming lead to lower consumption of fossil fuels. Equinor (EQNR), Norway’s state oil company,...
Oil prices stall as Norway settles oil workers strike
Even as Hurricane Delta bears down on the Gulf Coast, oil prices fell today on news that oil workers in Norway had settled a strike that had shut down about 8% of the country’s production. The settlement will restore production at six fields already shut down by the...
Norway’s Equinor oil company invests in Bill Gates’ cobalt mapping startup
Norwegian oil company Equinor (EQNR) has decided to take a 10% stake in start-up Kobold Metals. Kobold’s aim is to apply artificial intelligence to big subsurface data to create what it calls a “Google Maps” of the Earth’s crust that will...
Oil gains on Trump-Xi “success, Russia-Saudi “deal,” and actual production cuts from Alberta
As of 2:30 p.m. New York time U.S. benchmark West Texas Intermediate was up 3.04% to $52.48 a barrel. International benchmark Brent crude gained 2.84% to break back above $60 a barrel at $61.15. Part of the reason for the gain is a general sigh of relief that the...
Oil sells off as Hurricane Michael goes from “rumor” to “fact”
Today’s drop in oil prices looks to me to be a classic buy on the rumor sell on the fact trade. U.S. benchmark West Texas Intermediate dropped 2.81% today to $72.85. International benchmark Brent crude fell 2.68% to $82.72 a barrel. Yesterday oil moved up as...
Oil moves higher today on Hurricane Michael, IEA supply warning
U.S. benchmark West Texas Intermediate crude climbed 0.7% today to close at $74.81 a barrel. International benchmark Brent crude rose 1.23% to $84.94 a barrel. The International Energy Agency warned of what it termed a “risky situation; the oil markets are...
Oil surges on no action at OPEC meeting
Today oil prices breached levels that have oil traders talking about $100 a barrel oil again on OPEC’s decision at its weekend meeting not to boost oil production. U.S. benchmark West Texas Intermediate climbed 2.15% as of noon today, September 24, to move...
Book keeping changes: Statoil (STO) changes its name and ticker to Equinor (EQNR)
A change in the name and ticker of portfolio holding Statoil (STO). The explanation offered by the company is that it wanted to remove “oil” from its name to better reflect the company’s increasing emphasis on other forms of energy including wind...Jim’s Daily Email Alerts:
Every post from Jubak Picks straight to your mailbox. And they're free!