Tag: Oil

Doug Casey Uncovers the Real Price of Peak Oil

Posted on by The INO.com Team

Doug Casey, chairman of Casey Research and expert on crisis investing, is on the search for real wealth – not investments in companies that push around paper. In this exclusive interview with The Energy Report, Casey shares his pragmatic take on what's next for oil, gas, and nuclear power.

The Energy Report: There will be a Casey Research Summit on Navigating the Politicized Economy in Carlsbad, California, in September. At the last conference, Porter Stansberry caused some excitement with his argument that oil could go to $40/barrel (bbl). What's your view?

Doug Casey: We like to have a range of defensible views represented at our conferences. But personally, I don't think it's realistic to suggest oil prices will drop as low as $40/bbl. Continue reading "Doug Casey Uncovers the Real Price of Peak Oil" →

Oil prices rise on surprise supply drop

Posted on by The INO.com Team

(AP:NEW YORK) The price of oil is climbing after the government said supplies have dropped more than analysts expected.

Benchmark U.S. crude rose 76 cents to $88.82 per barrel in New York on Wednesday, while Brent crude added $1.11 to $106.03 per barrel in London.

Prices rose after the Energy Information Administration said U.S. oil stockpiles Continue reading "Oil prices rise on surprise supply drop" →

Oil falls below $84 amid waning EU euphoria

Posted on by The INO.com Team

By PABLO GORONDI
Associated Press

The price of oil fell below $84 a barrel Monday, unwinding some of the massive gains made Friday, when investors cheered the latest EU plans to tackle the continent's debt and economic woes. Signs of an economic slowdown in China also weighed on markets.

By early afternoon in Europe, benchmark oil for August delivery was down $1.35 at $83.61 a barrel in electronic trading on the New York Mercantile Exchange.

In London, Brent crude for August delivery was down $1.50 at $96.30 per barrel on the ICE Futures exchange.

On Friday, crude soared $7.27 to close at $84.96 in New York after the leaders of the 27 European Union countries said that they would seek to centralize regulation of European banks and, if necessary, bail them out directly, instead of funneling loans through governments that already have too much debt.

The EU said it also plans to ease borrowing costs for Italy and Spain, the third- and fourth-largest of the 17 economies that use the euro, stop mandating painful budget cuts to every country in need of emergency financial aid and tie their budgets, currency and governments more tightly. Continue reading "Oil falls below $84 amid waning EU euphoria" →

Oil soars 9 pct as Europe moves to tackle crisis

Posted on by The INO.com Team

By CHRIS KAHN
AP Energy Writer

(AP:NEW YORK) Oil soared the most in more than three years after European leaders took surprisingly aggressive steps meant to halt a debt crisis that has undermined the regional economy.

Benchmark U.S. crude jumped by $7.27, or 9.4 percent, on Friday to end the week at $84.96 per barrel in New York. Brent crude, which helps set the price of imported oil, rose by $6.44, or 7 percent, to $95.51 per barrel in London.

The surge could end a nearly three-month decline in U.S. gasoline prices. The national average for gas had declined from $3.94 per gallon in the first week of April to $3.35 on Friday. Continue reading "Oil soars 9 pct as Europe moves to tackle crisis" →

Chart of the Week - Crude Oil

Posted on by The INO.com Team

Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

The chart shown below is a snapshot of the July Crude Oil futures. After spending the entire month slipping lower alongside of most of the major global markets, Crude Oil prices have tried to recover off of $82.00 a barrel in the first week of June.

One of the identifiable themes for this chart is the range that Crude traded in throughout May (see blue trendlines on chart). There were four days in the month when prices closed outside of this range, and this is what I feel is most important to highlight. Continue reading "Chart of the Week - Crude Oil" →