Tag: Crude Oil (NYMEX:CL.N16.E)

OPEC and Crude Futures Price Prospects

Posted on by Robert Boslego

Robert Boslego - INO.com Contributor - Energies


OPEC will hold its 169th Meeting in Vienna on June 2nd. Its tentative program calls for a press conference to be held at 1600 hours. Don’t expect the fireworks that followed its conference 18 months ago when Saudi oil minister al-Naimi declared a market share battle against North American shale producers. In fact, don’t expect much of anything.

A lot has happened since the last OPEC meeting in December. A strong El Niño resulted in record high temperatures in North America during the first half of the winter, undercutting prices. Poorer members, such as Venezuela and Nigeria, implored the group’s richer Gulf state producers to cut back to stop the hemorrhaging. Saudi Arabia refused to budge.

The sanctions against Iran were lifted in early January. Iran proclaimed it would restore lost production of 500,000 to one million barrels per day. Crude prices tumbled further and by mid-January had dropped to the mid-$20s. The market panic was in full-force. Continue reading "OPEC and Crude Futures Price Prospects" →

Are Stocks Going To Sizzle Or Wilt This Summer?

Posted on by The INO.com Team

Hello MarketClub members everywhere. We are all back from a long holiday weekend and traders are wondering what's in store for the summer – are stocks going to sizzle and go higher or are they going to wilt under the threat of higher interest rates?

MarketClub's Mid-day Market Report

Predicting the future is a hazardous profession at best. So often I have seen respected economists and gurus fall flat on their faces with future predictions. The best way to look at the future, in my opinion, is that it will arrive and there will be many opportunities. That is why I let the market predict what it wants to do. Remember, the market is made up of millions of people whose collective judgment is often wrong at the top and bottom of the market. What is always be right, in the long run, is the market itself.

In today's video, I will be looking at the usual suspects – indices, gold, crude oil and one or two stocks that look interesting.

Stay focused and disciplined.

Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub

All Is Well This Memorial Day Weekend - Right?

Posted on by The INO.com Team

Hello MarketClub members everywhere. As we come to the end of the week and the trading month and face the long Memorial Day weekend, I have a slightly uneasy feeling about the markets.

Later on today, Janet Yellen the Fed chair is set to speak with Harvard professor Gregory Mankiw as she receives the University's Radcliffe Medal.

MarketClub's Mid-day Market Report

Boy, they sure like to give each other awards don't they? It's too bad that we can't give an award to the economy which still has sub 2% growth with record low-interest rates!!

Here's the problem as I see it, the FED said that it was it was going to rely on data as to whether or not it would raise interest rates. Now they're saying you have to see how things go – really?

It has seemed to me for quite some time now that the Fed has mishandled this whole financial meltdown and quite honestly have no clue as to what to do about it. It also seems that they lack any common sense even thinking about or talking about negative interest rates – how stupid can they be?

Ms. Yellen and President Obama - the answer is not complicated - lower taxes and cut all the red tape, hoops and hurdles that business have jump through. Then all you have to do is stand back and keep out of the way of the economy as speeds up growth and job creation.

Not complicated!

Okay, having gotten all that off my chest let's take a look at the markets. Continue reading "All Is Well This Memorial Day Weekend - Right?" →

Oil Climbs over $50: Can Investors Bank on a Recovery?

Posted on by admin

The price of a barrel of oil has almost doubled from its low of $28 at the start of the year, prompting speculation that a recovery is underway, which may result in the revival of companies in the exploration, production and services sectors that have foundered since prices collapsed in 2015.

Oil Supply Graph

According to news reports published today (Thursday, May 26), the pop above $50/bbl can be attributed to a drop in supply. The U.S. Energy Information Administration's "Summary of Weekly Petroleum Data for the Week Ending May 20, 2016" notes that "U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.2 million barrels from the previous week."

Since breaking the mark the price has sunk below the $50 level, but hovers in the vicinity, as it has for the past few weeks. Continue reading "Oil Climbs over $50: Can Investors Bank on a Recovery?" →

Is Apple About To Buy Netflix?

Posted on by The INO.com Team

Hello MarketClub members everywhere. The buzz around Wall Street this morning is that Apple is going to buy Netflix. As you probably know, Apple has a huge cash hoard rumored to be somewhere around the $200 billion level. Netflix is worth perhaps 40 or $50 billion, so it doesn't take a lot of imagination to see how a deal like this could work. Apple wants to move into the content and distribution space and Netflix might just be the vehicle to do that.

MarketClub's Mid-day Market Report

Apple Inc. (NASDAQ:AAPL): Here is the rundown on Apple, several days ago Warren Buffett purchased Apple stock as he thought it was undervalued. Based on the Trade Triangles I'm on the sidelines in having taken a small loss of $3.39. Technically the $104 level should present a major barrier for Apple. One thing to remember, this is only a rumor and it is not supported by a strong technical picture. The biggest concern I have is the current lack of innovation by the company. In my opinion, without innovation a tech company like Apple is going to have a hard go of it. Continue reading "Is Apple About To Buy Netflix?" →