Oil Inventory Surprise (OIH, USO, OIL)
The Department of Energy has just released its weekly inventory data for crude oil, gasoline, distillates, and refining levels. This week was marked by draw-downs but because of the weakness in the markets we…
Energy
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BP (BP) said it has made a “giant” discovery of crude oil in its Tiber Prospect in the Gulf of Mexico. The well was drilled to a depth of over 35,000 feet and the…
The Death of an Energy ETF (DXO)
It has been no secret that the CFTC is looking into many exchange traded notes and exchange traded funds that deal in the energy markets, along with other futures and other investment vehicles, to…
Beacon Power Files To Raise Cash (BCON)
Beacon Power Corporation (NASDAQ: BCON) has just filed to raise up to $60 million in cash in a mixed securities shelf registration. The company’s shelf filing will allow it to sell any combination of…
More Rigs Chasing Higher Oil (BHI, OIH, USO, OIL)
Rig Counts Chasing Oil Prices (OIH, USO, OIL) The weekly rig count data from Baker Hughes Inc. (NYSE: BHI) is out, and this last week we are seeing a bump in rig counts across…
Nat-Gas Inventories Keep Rising (UNG, OIH)
The weekly data out of the Energy Information Administration for natural gas inventories is only further adding salt on top of the wound for those hoping for higher natural gas prices. The inventories grew…
Petrobras: Gov’t Investment and Venezuela Woes (PBR)
Petroleo Brasileiro SAPetroleo Brasileiro (NYSE: PBR), or what we call Petrobras, has had a busy week. This stock has recovered handily off of lows from early July, but all summer it has not been…
Toyota, GM, Ford and Honda Led Cash for Clunkers Win (TM, F, HMC)
Well, it seems that despite the notion that ‘cash for clunkers’ was nothing more than a giveaway is perhaps only partly true. This was another giveaway and it may ultimately pull away consumer spending…
Crude Inventories See Small Gain (OIH, USO, OIL)
Last week’s draw-down in crude oil is not being mirrored this week. We just saw the weekly Department of Energy inventories and the reading came to a gain of 128,000 barrels of crude oil…
Oil Prices, Nearly Doubled This Year, Make A Run At $100
Oil prices have moved between $73 and $60 since early June. Crude now trades at the high end of that range, defying occasional news of double-dip recessions and low demand in the US and…
ETFs/ETNs Becoming Hybrid Closed-End Funds (USO, UNG, DBO, DXO, GAZ, GSG, GS, MS, GLD, SLV, JJC, FAS, FAZ)
Two months ago it was a carnal sin to suggest that certain exchange-traded funds or notes which track commodities would start trading more like a closed-end fund based upon supply and demand moves in…
Higher Oil Brings Mixed Data on Rig Counts (BHI, OIH, USO, OIL)
Baker Hughes Incorporated (NYSE:BHI) has released its weekly data on rig counts, and it seems that the suddenly higher oil prices are reversing some declines. There has still been no set direction between gains…
Analysts Duel Over Solar Stocks (ASTI, CSUN, ENER, ESLR, FSLR, SFUN, STP, SPWRA, YGE)
Jefferies has made some key downgrades in the solar sector this morning. There are few other calls that were upgrades from rival firms, but the downgrade seems to be more front and center as…
One More Issue For Government To Address: Tainted Fish
The government has made a colossal effort since the 1960s to clean the air and America’s lakes and rivers. Most citizens probably thought the the work was remarkably successful. Dead lakes now support fish…
Exxon Mobil (XOM) And PetroChina (PTR): The US And China Play Nicely Together
There is a tremendous amount of agita about the Chinese arresting four Rio Tinto (RTP) employees on charges of trade secret infringement and bribery. The action came too soon after Rio Tinto broke off…