Oil Prices

Oil prices have been soaring in recent weeks and traded as high as $126.20 a barrel for the basis June light sweet crude on the NYMEX on Monday. The amazing run-up in oil prices has been more than I expected, but there are pundits out there saying that…

Let's face it. Large American oil companies have profited handsomely from the high price of crude. Exxon Mobile (NYSE/XOM) reported a first quarter 2008 profit of $10.9 billion -- the second largest U.S. public company profit ever. (And the holder of the record for the largest ever quarterly…

Driving is quickly becoming a luxury and not a necessity, as the average price of gasoline in the U.S. is at $3.33 per gallon as of April 8, up $0.53 per gallon compared to the same time in 2007. If you live in California, you are paying a…

As of March 10, the average price of gasoline was hovering at around $3.23 per gallon in the United States, up 67% on a year- over-year basis, according to the Energy Information Administration. Now, if you live in California, the weather might be nicer, but you are also…

As was widely expected, members of the 13-nation Organization of Petroleum Exporting Countries (OPEC) appear to be leaning against any production increases to help alleviate the high record oil prices at above $100.00 a barrel. At this Wednesday's meeting, OPEC will likely rule against any production adjustment, as…

Fiddling around with the environment is not going to score anything big for oil companies, regardless of where they are digging. These days, you lament about the climate change, you get an Oscar. You go to Alberta, and six out of 10 residents will tell you that the…

While oil broke to $101.00 a barrel on Tuesday, the airline sector continues to struggle. Evidence of this weakness is the downward trend in the AMEX Airline Index (^XAL) since February 2007, as the barometer of airline performance is down 40% from its 52- week high. The index…

On March 5, members of the Organization of Petroleum Exporting Countries (OPEC) will meet to discuss the global energy climate and the current production quota in place. The price of oil is surging back up towards $100.00 a barrel after recently falling below $90.00 and there's speculation that…

Oil is currently trading in a consolidation channel with the March light sweet crude futures contract on the New York Mercantile Exchange, trading between $85.00 and $97.50/$100.00 since November. Oil traded over $100.00 on January 2. Factors that continue to drive oil trading are global supply and geopolitical…

Fact: coal and nuclear plants in North America are not popular. Fact: building new coal and nuclear plants means high construction costs and increased financial, regulatory and environmental risks. Fact: the U.S. Nuclear Regulatory Commission forecasted 21 new applications to build 32 new reactors within the next two…

Well, I don't see how you can look at the situation any other way. The news isn't good. Similar to the situation in 1990-1991, inflation is on the increase and the economy is slowing. This makes it difficult for the Federal Reserve to stimulate economic growth without making…

After a recent decline to the $87.00 level, the price of the basis January light sweet crude on the New York Mercantile Exchange rebounded back over $90.00 per barrel in trading on Tuesday. But while the continued high oil prices negatively impact the airline sector, there is some…

As of December 3, the average price of gasoline was hovering at around $3.06 per gallon in the United States, up 76.4% on a year- over-year basis, according to the Energy Information Administration. Now, if you live in California, the weather might be nicer, but you are also…

Once a strong trend is in place, it is difficult to trade against it. The Dow Theory states that a trend stays in place until it is broken. A perfect case of this continues to be the oil market, as the basis light sweet crude December futures contract…

Oil prices are on a strong uptrend, with the basis light sweet crude November futures contract on the New York Mercantile Exchange trading at $90.02 a barrel on October 17, breaking the $90.00 level for the first time. Now it seems that the $100.00 a barrel oil prices…

The airline industry is once again pressured by the surging fuel costs. In recent sessions, the price of oil surged to a record above $80.00 a barrel driven by a decline in U.S. crude inventories and gasoline. The Organization of Petroleum Exporting Countries (OPEC) also increased its daily…

Oil prices are on an uptrend, with the basis light sweet crude on the NYMEX surpassing its recent contract peak in late July. The high oil prices are a real concern because of its negative impact on transportation companies where oil is a major part of their expenses.…

The price of the light, sweet crude on the New York Mercantile Exchange surged over $78.00 per barrel on July 31, but has subsequently fallen back to below $73.00 per barrel. The continued high oil prices negatively impact the airlines sector, yet there is hope. Capacity, as measured…

If you own oil and gas stocks, the future is looking bright. If you don't, well, let's just say that you're going to be in for it. According to a report just released from the International Energy Agency (IEA), we'll face a global oil and gas crunch by…

As far as crude oil is concerned, the usual market forces have failed to get triggered at this time. While the growing demand has yielded huge profits for oil companies and their investors worldwide, consumers have become more and more frustrated with rising gas prices. Consumers better get…