Natural gas prices soar–no summer slump in prices this year thanks to war in Ukraine
Normally at this time of year natural gas prices retreat and companies actually stash natural gas in storage for use during hurricane outages in the fall and winter heating season. Not this year, however. Today natural gas prices in the U.S. hit a new 18-year high. At...
Another round of higher oil prices headed our way
Today, April 21, reports from a number of different sources are pointing to lower oil production–which will mean higher oil prices. Even from current levels. And oil prices are significantly higher in the past three weeks. At 3:00 p.m. New York time today U.S....
U.S. to ban Russian oil and natural gas–Brent hits $131 a barrel, WTI $127
The United States will ban imports of oil and natural gas from Russia, President Biden announced Tuesday. I’ve tried to pin down the exact timing and implementation of the ban (I don’t see these details in the executive order as released by the White...
Please watch my new YouTube video: Quick Pick Pioneer Natural Resources
I’m starting up my videos again–this time using YouTube as a platform. My one-hundredth-and sixth YouTube video “Quick Pick Pioneer Natural Resources” went up today. This week my Quick Pick is Pioneer Natural Resources (PXD). I don’t like...
For investors hedging the Ukraine/Russia conflict, here’s my best estimate of what’s next
If you believe as I do that one of Russian President Vladimir Putin’s goals in igniting the current conflict in Ukraine was to attempt to use Europe’s dependency on Russia natural gas to drive a wedge among NATO members, the most recent developments make a...
Oil moves toward $95 a barrel on rising Ukraine war fears
International benchmark Brent crude jumped as much as 4.7% to $95 a barrel for the first time since 2014. Brent was up 23.68% and trading at $94.77 at 3 p.m. New York time Friday. U.S. benchmark West Texas Intermediate, which normally trades below Brent in price, was...
Oil breaks above $90 for first time since 2014
On Thursday, Feburary 3, U.S. crude benchmark West Texas Intermediate rose above $90 a barrel–it closed at $90.87, up 0.60% for the day, for the first time since 2014. International benchmark Brent crude gained 0.42% to close at $91.53 a barrel. Of course, it...
Putting on hedges for a Russia-Ukraine conflict today (as in NOW)
I only recommend options on my subscription sites JubakAm.Com and JugglingWithknives.com. And this week on those sites I’ve closed the two VIX CALL Options I bought back on December 31 as protection (and potential profits) from an increase in market volatility...
OPEC production curbs collapse in Russia-Saudi fight
It’s over. The three-year marriage of convenience between Saudi Arabia and Russia is done. The Saudi’s argued that Russia and OPEC producers must cut production further in response to falling demand for oil in the face of the coronavirus outbreak. Russia...
Oil rallies on U.S. inventory drawdown, record U.S. exports, slip in U.S. production–and, oh yes, those pesky tensions with Iran
U.S. benchmark West Texas Intermediate crude is now up 10% for the week following on a 2.44% jump in price to $59.24 a barrel today. International benchmark Brent crude gained 1.94% to $66.31 a barrel. Continued tensions between the United States and Iran, of course,...
Two more oil tankers attacked in Gulf of Oman; here’s how financial assets moved and which might be interesting ahead
For the second time in a month two oil tankers came under attack in international waters near the strategic Strait of Hormuz. One ship, a Japanese-owned tanker carrying methanol, was apparently attacked by limpet bombs attached to its hull or by a mine. The second...
Pioneer Natural Resources gains on earnings beat, production increase, and asset sales
A complicated but very positive quarter for Pioneer Natural Resources (PXD.) The stock, a member of my long-term 50 Best Stocks Portfolio, climbed 3.92% today to $153.77. First, after the close on May 6, the company announced earnings of $1.83 a share, 20 cents a...
Renewed bid from Occidental for Anadarko adds heat to Permian M&A
The battle for control of Anadarko Petroleum (APC) and its huge position in the oil shale geologies of the Permian Basis isn’t over. Yesterday, Wednesday, Occidential Petroleum (OXY) made a renewed bid to acquire Anadarko. The 50%/50% stock and cash offer from...
Permian goes from tepid to red hot again on Chevron bid for Anadarko
Chevron (CVX) has agreed to buy Anadarko Petroleum (APC) for $33 billion in cash and stock. On the news shares of Anadarko are up 32.5% to $61.85. Shares of Chevron are off 4.91% to $119.81.Meaured by oil and natural gas production, the deal puts Chevron neck-and-neck...
Pioneer authorizes huge increase in buyback program in note of confidence on cash flow
We all know that companies can authorize stock buybacks and never carry them out, but, nonetheless the big new buyback program authorized by Pioneer Natural Resources (PXD) is a significant sign that of the company’s confidence in its cash flow. (As well as an...
Oil gains on Trump-Xi “success, Russia-Saudi “deal,” and actual production cuts from Alberta
As of 2:30 p.m. New York time U.S. benchmark West Texas Intermediate was up 3.04% to $52.48 a barrel. International benchmark Brent crude gained 2.84% to break back above $60 a barrel at $61.15. Part of the reason for the gain is a general sigh of relief that the...
50 Best Stocks Portfolio pick Pioneer Natural Resources gives back a bit of its post earnings pop
On Monday, after the close of the New York market, Permian Basin oil shale power Pioneer Natural Resources (PXD) reported third quarter earnings of $2.07 a share, 39 cents a share above the Wall Street consensus projection. Revenue climbed 112.2% year over year to...
Oil sells off as Hurricane Michael goes from “rumor” to “fact”
Today’s drop in oil prices looks to me to be a classic buy on the rumor sell on the fact trade. U.S. benchmark West Texas Intermediate dropped 2.81% today to $72.85. International benchmark Brent crude fell 2.68% to $82.72 a barrel. Yesterday oil moved up as...
Oil moves higher today on Hurricane Michael, IEA supply warning
U.S. benchmark West Texas Intermediate crude climbed 0.7% today to close at $74.81 a barrel. International benchmark Brent crude rose 1.23% to $84.94 a barrel. The International Energy Agency warned of what it termed a “risky situation; the oil markets are...
Oil surges on no action at OPEC meeting
Today oil prices breached levels that have oil traders talking about $100 a barrel oil again on OPEC’s decision at its weekend meeting not to boost oil production. U.S. benchmark West Texas Intermediate climbed 2.15% as of noon today, September 24, to move...
Pioneer Natural Resources signs deal to cut fracking sand costs by 50%
It’s always important to see who has the leverage–customers or suppliers–when costs start to rise. On the recent agreement between Pioneer Natural Resources (PXD), perhaps the dominant oil shale producer in the Permian Basin, and fracking sand...
Do you have the patience for the Permian? Should you?
It hasn’t exactly been a great few months oil shale producers in the Permian Basin. Shares of Pioneer Natural Resources (PXD), the biggest pure play on Permian oil, closed at $169.97 a share today, August 29, down from $212.31 a share on May 18. That’s a...
No surprise: Oil moves higher on day after U.S. pulls out of Iran nuclear deal
Some days you need to search for an explanation for a market move. Other days the explanation hits you over the head. Today crude oil is up, in a strong but orderly move. Two catalysts. First, yesterday President Donald Trump announced that the U.S. would pull out of...
Ignore the short-term oil volatility and continue to hold Pioneer Natural Resources for the long-term story
So much near-term noise. Since Pioneer Natural Resources (PXD) reported earnings on May 2–the company beat Wall Street estimates on earnings by 16 cents a share and reported revenue in-line with projections and up 56.5% year over year–there’s been...
Israel’s Prime Minister announces major statement Monday night on Iranian nuclear program
Israeli Prime Minister Benjamin Netanyahu has announced that he will make a statement at 8 p.m. Tel Aviv time tonight on a “significant development” regarding the Iranian nuclear pact. (As best as I can do the conversions, 8 p.m. in Tel Aviv is 1 p.m. in New York.)...
Oil continues to move higher on Middle East fears
Oil futures in New York settled at their highest since December 2014. U.S. benchmark West Texas Intermediate climbed 0.35% to close at $68.88 a barrel. International benchmark Brent crude rose 0.88% to $74.71 a barrel. The gains were unusual in that the U.S. dollar...
Oil prices up again on inventories, Middle East fears, OPEC price goals
West Texas Intermediate crude climbed 3.16% today to $68.80 a barrel. Futures for May delivery moved over $68 a barrel for the first time in three years. Yesterday the American Petroleum Institute reported a 1.05 million barrel draw down in U.S. inventories. Today the...
Little spillover (yet) from Concho acquisition of Permian producer RSPP
Today Concho Resources (CXO) announced the acquisition of RSP Permian (RSPP) to create the biggest oil and natural gas producer from the shales of the Permian Basin. The $9.5 billion all stock deal represents a 29% premium to the Tuesday close for RSP Permian. That...
Saudis push OPEC to go for $70 a barrel
The goal was to cut production enough to reduce global oil inventories to their five-year average. The hope of the coalition of OPEC and Russia that reduction in production would get oil prices up to $60 a barrel. Now with that inventory reduction just about in place...Jim’s Daily Email Alerts:
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