Crude Oil Price

There's value within the energy sector.Slowing global economic growth and demand concerns have WTI crude oil prices down more than 20% from a year ago. Oil investors were hoping for much higher prices in 2019 than the mid $50s per barrel, and the energy sector has once again lagged the market significantly this year. Bank of America analyst Doug Leggate recently lowered his oil price forecast for the second half of 2019 from $68 per barrel to $63, but Leggate says there are still plenty of value opportunities among oil stocks today. Here are nine oil stocks Leggate recommends.Exxon Mobil Corp. (ticker: XOM)Leggate says Exxon has the strongest project pipeline of any oil major, including developments in Guyana and the U.S. Permian Basin. Exxon management has a five-year plan in place to double free cash flow by 2025. Leggate says investors can enjoy the stock's 4.5% dividend while they wait for that cash flow to come rolling in. Exxon is his top stock pick among oil majors, and…

Asia Pacific Market Open Talking PointsCrude oil prices eye chart resistance, API hints larger-than-expected stockpile contractionUS Dollar and local bond yields rally as James Bullard talks down aggressive rate cut betsAnti-risk Japanese Yen may appreciate, NZDUSD could fall if RBNZ hints August cutTrade all the major global economic data liveas it populates in the economic calendar and follow the live coverage for key events listed in theDailyFX Webinars. We’d love to have you along.Crude Oil Prices Rally on API Inventory EstimatesCrude oilprices, despite the high volatility in equities today, paid the most attention to projected estimates from weeklyAPI oil inventory data. They indicated a contraction of 7.55m barrels, more than 2.5 times the drawdown estimated by official EIA statistics for tomorrow. Those point to an outflow of just about 2.84m barrels. An outcome closer to EIA estimates may send the commodity lower.Sentiment-linked crude oil brushed aside the 0.95% decline in th…

Over and above the petty party squabbling that characterises the politics of Iraq’s semi-autonomous northern region of Kurdistan, it can safely be conjectured that at least two groups of people were delighted at the appointment of Masrour Barzani on 11 June as prime minister of the region’s government (the KRG): the Barzanis and the Russians. The Barzanis had three reasons for jubilation: Masrour was now prime minister, his cousin, Nechirvan was president, and the former president – and father of Masrour – Masoud Barzani remains the driving power behind the throne. The Russians had just one reason – but a big one – for celebration: the Barzani family is “highly accommodating to any suggestion that is good for the Barzani family,” as one senior source who works closely with Iraq’s Oil Ministry told Oilprice.com last week. “This means it’s still open season for Russia in Kurdistan, which is perhaps the last truly under-developed oil and gas frontier in the Middle East,” he added.An indi…

Oil prices climbed higher on Tuesday as investors shifted focus from trade war worries to the growing tension between Iran and the United States. (Click to enlarge)(Click to enlarge)(Click to enlarge)(Click to enlarge)- At the start of the year, there were 29 states plus the District of Columbia that had some version of a renewable portfolio standard (RPS). Four states have since updated their standards – New Mexico, Washington, Nevada and Maryland, plus DC.- States with RPS account for 63 percent of electricity sales in the U.S.- The EIA data overlooks the massive bill about to become law in New York, which will aim for 100 percent clean energy and net-zero emissions by 2050. A growing number of states are scaling up their ambition in the face of an intransigent federal government.Market Movers• Energy Transfer Partners (NYSE: ETP) has proposed to double the volume of its Dakota Access Pipeline from 500,000 to 1 million barrels per day. DAPL was one of the most hotly protested pipeli…

There's value within the energy sector.Slowing global economic growth and demand concerns have WTI crude oil prices down more than 20% from a year ago. Oil investors were hoping for much higher prices in 2019 than the mid $50s per barrel, and the energy sector has once again lagged the market significantly this year. Bank of America analyst Doug Leggate recently lowered his oil price forecast for the second half of 2019 from $68 per barrel to $63, but Leggate says there are still plenty of value opportunities among oil stocks today. Here are nine oil stocks Leggate recommends.Exxon Mobil Corp. (ticker: XOM)Leggate says Exxon has the strongest project pipeline of any oil major, including developments in Guyana and the U.S. Permian Basin. Exxon management has a five-year plan in place to double free cash flow by 2025. Leggate says investors can enjoy the stock's 4.5% dividend while they wait for that cash flow to come rolling in. Exxon is his top stock pick among oil majors, and…

Whether it was the Big Bang, Midas or God himself, we don’t really need to unlock the mystery of the origins of gold when we’ve already identified an asteroid worth $700 quintillion in precious heavy metals.If anything launches this metals mining space race, it will be this asteroid--Psyche 16, taking up residence between Mars and Jupiter and carrying around enough heavy metals to net every single person on the planet close to a trillion dollars.The massive quantities of gold, iron and nickel contained in this asteroid are mind-blowing. The discovery has been made. Now, it’s a question of proving it up.NASA plans to do just that, beginning in 2022.  Of course, says veteran miner Scott Moore, CEO of EuroSun Mining  “The ‘Titans of Gold’ now control hundreds of the best-producing properties around the world, but the 4-5 million ounces of gold they bring to the market every year pales in comparison to the conquests available in space.”In the decades to come, if you want to be a gold tita…

Oil prices were mixed on Tuesday ahead of data expected to show US crude stocks declining, outweighing investors' concerns that US-China trade tensions could dampen fuel demand.Benchmark Brent crude futures settled up 19 cents, or 0.3%, at $65.05 a barrel.US crude futures fell 7 cents, or about 0.1%, at $57.83 a barrel.Investors shrugged off US President Donald Trump's comments on Tuesday that the United States would obliterate parts of Iran if it attacked "anything American."Oil-market jitters over the escalating tension between the United States and Iran have eased after Trump targeted Supreme Leader Ayatollah Ali Khamenei and other top Iranian officials with sanctions on Monday, after calling off a retaliatory air strike, analysts said.Sending a bullish signal, a preliminary Reuters poll showed on Monday that US crude oil inventories likely fell for a second consecutive week last week.The numbers came ahead of crude stock data from the American Petroleum Institute…

"So, for example, that includes refined products. We import a lot of gasoline into New York, right? New York Harbor and Philadelphia and all those places. It's not because we can't make the gasoline, it's because the refineries up there aren't linked with enough pipeline capacity to the Gulf Coast, so we can't get it from here to there,” he said.

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Oil Price Weekly Outlook: Crude Rebound Face First Test of ResistanceCrude Oilprices are on a tear with a rebound off key support posting a near 14% rally off the monthly lows. While the advance bodes well for oil prices near-term, the rally remains within the confines of the broader descending pattern we’ve been tracking. These are the updated targets and invalidation levels that matter on the crude oil weekly price charts (WTI).Review this week's Strategy Webinarfor an in-depth breakdown of thisoil pricesetup and more.New toOil Trading? Get started with thisFreeHow to Trade Crude Oil Beginners GuideCrude Oil Price Chart – WTI WeeklyNotes:In my lastCrude Weekly Price Outlookwe noted that, “The crude breakdown has taken oil prices into secondary support targets here and leaves the immediate short-bias at risk near-term while above51.60.” The low registered that week at 50.59 held for the next three-week with the subsequent advance now testing the 75% line of thedescending pitchfor…