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Posts Tagged ‘Energy’

Middle East violence, ‘power struggle’ complicates investing

April 27th, 2015 No comments

Isis is a flourishing hazard in the Middle East. This is an picture from a Frontline documentary on the group.  (Photo credit should review AZHAR SHALLAL/AFP/Getty Images)

Isis is a flourishing hazard in the Middle East. This is an picture from a Frontline documentary on the group. (Photo credit should review AZHAR SHALLAL/AFP/Getty Images)

BEVERLY HILLS — For investors seeking for stability, universe geopolitics and the climb of aroused eremite extremism have been creation it harder than ever.

With the presentation of groups similar to ISIS, anticipating pathways to assent have been harder than ever, former British Prime Minister Tony Blair told the Milken Institute Global Conference, a big annual investment and think-tank forum, here Monday. Unlike nations, there is an incapacity to come to terms with militant groups similar to ISIS, withdrawal essentially troops options.

But among the turmoil, Sen. Lindsey Graham, R-S.C., who appeared on a row with Blair, says there’s goal for brand new alliances which competence never have seemed probable in the past. ISIS is as against to a little Arab nations as it is the West. To confront the mutual threat, the doorway is open to the probability of forging a understanding in in between Israel and the Arab neighbors.

“There is a singular event to have Arab-Israeli rendezvous to enclose extremism,” pronounced Graham, a expected Republican presidential contender.

Retired Army Gen. Wes Clark, former autarchic associated commander in chief of NATO and a Democratic presidential nominee, says the dispute in the Middle East boils down a appetite onslaught in in between Iran and Turkey, any perplexing to reestablish vestiges of their ancestral empires. That has led nations to sensitively ancillary ISIS and alternative groups which will allege their interests.

Rooting out ISIS, Clark says, will need going after the backers.

Blair says the answer is to opposite extremism, not usually aroused extremism. The West spends billions ancillary countries’ efforts to moment down on aroused extremists in their midst, but doesn’t do sufficient to vigour countries to keep extremism from being taught in schools.

Another answer, says Graham, is for the U.S. to rise an appetite process which serve apart itself from not usually the Middle East, but Russia. Clark says the U.S. has a singular event to be the universe appetite leader, to make use of the newfound resources to be an appetite exporter.

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Whiting fails to pass the sniff test

March 24th, 2015 No comments

whiting_16x9Shares of already hard-hit Whiting Petroleum WLL sank $7.48 to $30.91  in complicated trade volume Tuesday after the shale oil  and healthy gas writer voiced a delegate offering.

The move doused conjecture which Whiting, with 2014’s $4.3 billion squeeze of Kodiak Oil and Gas, the largest appetite writer in the Bakken shale region, could be a takeover aim in the arise of plunging wanton oil prices.

Colorado-based Whiting skeleton to suggest 35 million shares, labelled at $30, scarcely 20% next Tuesday’s opening price. The move will lift about $1 billion. The association additionally skeleton to sell $750 million of debt.

Whiting, similar to most alternative oil vegetable patch firms, has already cut collateral growth costs due to plunging wanton oil and healthy gas prices. Last month, it pronounced it would cut 2015 scrutiny and growth costs to $2 billion, down 37.5% from 2014 levels.

Whiting traded as tall as $92.92 final August, even as wanton oil prices were peaking. Takeover speak had carried shares in new weeks, but the association pronounced Tuesday it is usually exploring item sales of “noncore” properties.

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A deflating day for natural gas stocks

March 9th, 2015 No comments

images (7)Surging reserve and shifting healthy gas prices deflated an already hard-hit healthy gas zone Monday, pushing a little association bonds to multi-year lows.

Stocks fell after the Energy Information Administration reported which  despite taking flight pull downs due to cold weather, altogether reserve for the final week of Feb were  40% aloft than year-ago levels.

Natural gas prices fell 5.5% to $2.68 per million  British thermal units on the New York Mercantile Exchange.  Among the day’s losers;

Drillers Transocean RIG, off 6% to $14.68,  and Diamond Offshore, DO down 4.6% to $28.15.

Chesapeake Energy CHK, down  6% to $14.24.

Gas and oil path-finder Southwest Energy SWN,  off 6% to $22.29 – the lowest tighten given 2007.

Ultra Petroleum UPL, down 9.5% to $14.68.

Midstates Petroleum MPO, off  14% to 98 cents, tighten to all-time lows.

Drilling and prolongation services provider Flotek  FTK, down 2.5% to $15.39. Oppenheimer instituted coverage with an underperform rating and a $12 cost target, observant Flotek will be harm by a fall in oil appetite prices.

 

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Oil renews that sinking feeling as crude plunges nearly 9%

February 4th, 2015 No comments
AP

AP

Crude oil’s four-day, 20% convene set upon the skids Wednesday, finale a short convene in hard-hit oil vegetable patch stocks. West Texas Intermediate crude, which jumped 7% to tighten on top of $50 a tub for the initial time in weeks, fell 8.7% to $48.45 a barrel.

The slip – the greatest one-day dump given late Nov – came after the U.S. Energy Information Administration pronounced wanton reserve rose to some-more than 413 million barrels final week. That’s the top turn for Jan in some-more than 80 years.

Oil futures had rallied 20% over the past 4 days on conjecture which prolongation cuts would stroke the bolt of made at home and tellurian supplies, as  well as a United Steelworkers Union set upon which in jeopardy made at home refinery production. But the one after another set up in oil reserve swamped expectations of supply cuts, at slightest nearby term.

“The U.S. is ripping at the seams” even as imports and prolongation fall, records CitiGroup researcher Christopher Main.

Energy bonds which had rallied Wednesday after multiform months of often waste  turned neatly lower.

Among the losers: Goodrich Petroleum, GDP down 8% to $2.74; Transocean RIG, off 4% to $17.73; W&T WTI Offshore, off 13% to $5.44;  Seventy Seven Energy SSE, off 10% to $4.64; SeaDrill SDRL, off 5% to $12.16 and Vermilion Energy VET, off 8.6% to $44.94.

Among incomparable top appetite stocks, ConocoPhillips COP forsaken 3% to $65.87; Schlumberger SLB fell 3% to $84.55, Haliburton HAL dropped 2% to $42.39.

Follow bonds on Twitter @gstrauss_

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Halliburton President calls the turn in oil prices

January 28th, 2015 No comments

rig

It’s all about supply counts according to Halliburton (HAL) President Jeff Miller. The  number of rigs have declined 15% in the final dual months as oil prices have plunged. If past oil busts have been any beam we still have multiform months to go, Miller told Motley Fool.

Read just when he expects it to bottom in the full story.

 

 

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Oil prices fall 46% in 2014, worst since 2008

December 31st, 2014 No comments

AFP 536375601 I FIN FRA BO
Oil prices fell Wednesday and finished the year with the misfortune annual cost dump given 2008, reflecting the tellurian supply bolt caused by negligence direct from China and the sepulchral U.S. shale production.

U.S. wanton (West Texas Intermediate) staid down 85 cents to $53.27 Wednesday. It forsaken 46% for the year.

Brent was down 57 cents Wednesday to $57.33. It fell 48% for the year.

In the past, the Organization of the Petroleum Exporting Countries (OPEC) has cut oil outlay to keep cost afloat in times of supply abundance. But the group, comprised of twelve oil producing nations, has been demure to reduce supply this year, fearing which the marketplace share will be eroded by heightened foe from U.S. suppliers.

While a Reuters survey Tuesday showed which OPEC nations’ outlay fell by 270,000 barrels per day in Nov and December, it still predicts “a large additional supply subsequent year.”

“The main reason for oil’s decrease is OPEC sitting on the fence,” Giovanni Staunovo, an researcher at UBS AG in Zurich, told Bloomberg News. “To forestall an extreme register build-up, non-OPEC supply growth, quite U.S. parsimonious oil, needs to decelerate or case temporarily.”

Inventories at Cushing, Oklahoma, the smoothness prove for WTI futures, increasing by 2 million barrels to 30.8 million, according to Bloomberg News. That’s the top save turn given February.

Sluggish tellurian direct has been determined for most of the year, and a brand new production interpretation indicator from China on Wednesday underscored the conditions confronting oil producers. Activity in the country’s factories shrank for the initial time in 7 months in December, according to Reuters, citing a survey by HSBC.

The HSBC/Markit Purchasing Managers’ Index (PMI) for Dec came in at 49.6, the inform said. Numbers next 50 prove contraction.

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Oil services stocks sputter again

December 1st, 2014 No comments
AFP/Getty

AFP/Getty

Crude oil prices had one of their sharpest one-day gains given Aug 2012 Monday, with benchmark recuperating scarcely half of Friday’s 10% selloff following the Organization of Petroleum Exporting Countries disaster to quell production.

But with wanton oil still down 35% from June’s rise and conjecture that prices won’t building until 2015,  oil training and services companies staggered by the thrust go on to swoon.

Among them, driller Miller Energy Resources MILL, down 32% to $1.59 and right away off 82% from the 52-week high; Emerald Oil EOX, off 23% to $1.47; Goodrich Petroleum GDP, down 22% to $4.73 (85% off the 52-week high); North American Drilling NADL, down 20% to $1.94; Atlas Pipeline Partners APL, off 16% to $27.41 and Oasis Petroleum OAS, down 7% to $17.09.

Transocean RIG forsaken 5% to $19.99. Halliburton HAL, that similar to most appetite services bonds flirted with 52-week lows, forsaken 2.4% to $41.21. Integrated appetite producers were between the day’s sole splendid spots. Exxon Mobil XOM rose 2% to $92.35, whilst Chevron CVX gained 2.6% to $111.73.

Occidental OYX Petroleum, that dipped to a 52-week low in early trading, finished up scarcely 4% to $79.45. OxyPete’s appetite association spinoff, California Resources, CRC began the initial trade day with an 8.5% loss. Shares fell 68 cents to $7.37.

 Follow Strauss on Twitter @gstrauss_

 

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