Tag Archives: Oil

BofA warns oil could hit $100 this winter and spur crisis — protect yourself this way The worldwide energy crunch could push oil prices above $100 a barrel for the first time in years and trigger a global economic crisis, Bank of America warned on Friday. “[O]il prices could spike and lead to a second round of inflationary pressures around the world,” analysts including Francisco Blanch wrote in a note. “Put differently, we may just be one storm away from the next macro hurricane.” Of… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, September 30, 2021 Once again, Wall Street is worried about slowing growth and relentless inflation. In the wake of this week’s run up in oil, which coincided with energy crunches in China and the U.K., a certain word associated with slowing growth and higher inflation — popularized during a particularly rough stretch nearly 50 years… Source link

Petrol prices have forced the government to resort to extreme measures. Photo: Getty Energy markets have stayed in focus as the most volatile factor in markets on Tuesday in London, as the price of oil per barrel headed above $80 for the first time in around three years.  Brent Crude (BZ=F) was 1% higher, to trade at $80.34 (£58.75) at the opening bell in London. Crude (CL=F) was also up around 1% to trade at $76.27.  The fuel supply crisis has forced the UK government to draft in the army… Source link

There are some bullish trades to put on in the oil patch to ride the new gusher in prices for black gold and natural gas, says Goldman Sachs analyst Neil Mehta.  Mehta reiterated Buy ratings and aggressive upside price targets on oil majors ConocoPhillips (COP) and ExxonMobil (XOM) Monday. The analyst sees ConocoPhillips delivering a 20% return for investors over the next 12 months.  “The company should deliver 30%-40% of cash flow back to shareholders in the form of dividends/buybacks, has… Source link

(Bloomberg) — Stocks fell Monday as the risk of a slower recovery from the pandemic shadowed global markets and Chinese technology stocks buckled under the weight of Beijing’s regulatory clampdown. A Hong Kong gauge of Chinese tech names tumbled after a report that officials are seeking to break up Ant Group Co.’s Alipay. China’s online platforms have also been told to protect the rights of workers in the so-called gig economy. China’s overall stock market fluctuated, while Japan… Source link

By Mei Mei Chu and Naveen Thukral PERAK, Malaysia/SINGAPORE (Reuters) – In a sprawling oil palm plantation in the Malaysian state of Perak, watermelon seedlings are sprouting from freshly ploughed earth between palm saplings while rented cows graze in overgrown areas of the estate. A coronavirus pandemic-induced labour crunch has forced managers of the 2,000-hectare estate in Slim River to find creative ways to upkeep their fields, even as prices of the world’s most consumed edible oil are… Source link

(Bloomberg) — Oil flipped between small gains and losses as U.S. offshore producers assess damage from Hurricane Ida and as investors focus on an OPEC+ meeting that will likely lead to a further output revival. Futures in New York earlier fell as much as 1.6% Monday. Gasoline futures spiked more than 4% earlier in the session before paring its advance. While Gulf of Mexico producers had shut in about 1.7 million barrels a day of crude output ahead of the storm, refineries in Louisiana may be… Source link

Stock futures gained Monday morning, steadying after last week’s volatility as investors looked ahead to a key event from the Federal Reserve later this week. S&P 500 futures rose by more than 0.3%, led by gains in energy stocks as oil prices advanced. U.S. West Texas intermediate crude oil futures (CL=F) topped $64 a barrel, and Brent crude (BZ=F) jumped above $67 per barrel after suffering its longest losing streak since early 2018 as of last week.  Contracts on the Dow were set to open… Source link

Big Oil is coming off yet another blockbuster season, posting the second consecutive quarter of stellar top-and-bottom line growth. According to the latest FactSet data, the energy sector’s Q2 2021 revenue growth rate of 24.9% came in way higher than Wall Street’s estimate of 19.4% while the sector reported earnings of $15.9 billion compared to a loss of -$10.6 billion in Q2 2020 marked the biggest Y/Y improvement of any of the S&P 500‘s 11 market sectors.  Interestingly, the Big Oil duo of… Source link

Stocks fell Monday, losing some steam after rising to all-time highs late last week. Commodity prices tumbled as concerns over the coronavirus’s spread resurged, with crude oil prices moving sharply to the downside. The S&P 500 fell as shares of oil companies including Occidental Petroleum (OXY), Apache Corporation (APA) and Diamondback Energy (FANG) dropped. The Dow also dipped, weighed down by a decline in shares of Chevron (CVX).  U.S. West Texas intermediate crude oil futures (CL=F)… Source link