S&P 500
7,616.80
-0.07%
Dow Jones
51,321.00
-0.10%
Nasdaq 100
30,679.00
-0.12%
Russell 2000
2,929.63
-0.12%
FTSE 100
10,384.30
-0.04%
Nikkei 225
68,659.20
+1.71%

Energy

Oil Erases Losses for the Week

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Crude oil has finally managed to break a three day losing streak and was back above $88 per barrel. Today’s gain may be nothing more than an oversold bounce, but there are some bullish indicators as well. Traders cited talks around the coming fiscal cliff, but an expiration may have helped oil too. The gain seen so far on Thursday was 1.6% to $87.86 but oil did get above $88 earlier today. Another issue around that gain is that this effectively takes out the losses in prior days.

Other factors that have been helping oil today are continued issues in the Middle East as well as ongoing pressure against Iran. A higher revised 2.7% GDP added some interest as well, although is just a revision and should have been anticipated.

Oil has been in a trading range of $85 to $89 for most of the last month. Meanwhile, Brent Sea Crude rose $1.25 to $110 76 per barrel earlier today.

JON C. OGG

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Paul Ausick |

Oil Refiner Stocks May Offer One Value Play

ThinkstockCrude oil refiners have taken some heavy hits in the past couple of months. Because the cost of crude contributes…

Paul Ausick |

Crude Oil Posts 52-Week Low Before Inventory Report

The U.S. Energy Information Administration (EIA) weekly petroleum status report released Wednesday morning says commercial crude inventories decreased last week.

Jon C. Ogg |

Merrill Lynch Sees Lower Oil Prices Hurting S&P Earnings Growth in 2018

All that talk of less inflation and lower oil prices is going to create some problems. The strategists at Bank…

Watchdogs Implying Higher Oil Prices and Oil Stocks Look Premature
Jon C. Ogg |

Watchdogs Implying Higher Oil Prices and Oil Stocks Look Premature

This week's strong move in oil prices also created a massive rally in oil stocks, but the International Energy Agency…

Jon C. Ogg |

Big Oil’s Top Stock for 2011 (XOM, CVX, COP, RDS-A, BP, DIG, DUG)

How big oil stocks perform in 2011 will be highly dependent on the price of crude oil. That’s not a…

Paul Ausick |

Oil and Gas, Gold Lead Markets Higher on Friday

Here is a look at five gold and oil stocks that saw some nice boosts Friday morning.

Jon C. Ogg |

The Return of the $100 Gas Tank is Here… Labor Day Spending Woes

The week ahead of the oh-so important Labor Day weekend has something that Joe Public as the consumer is not…

Jon C. Ogg |

Oil Supplies & Weak Refining Offer No Oil Gains (OIH, USO, VLO)

The Department of Energy released its weekly Crude Oil and energy inventories this morning.  Despite some supply issues being obvious,…

Paul Ausick |

Expected Upside Gains for Big Oil Companies (XOM, CVX, COP, BP, OXY, PBR)

Large US oil companies have had a good year. Not the best ever, but good nonetheless on high prices for…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826