Tag Archives: Oil

Exxon Mobil denied permission to resume Russian oil work

Oil giant Exxon Mobil will not be allowed to resume drilling in Russia after US President Donald Trump vowed to uphold sanctions. The US Treasury Department said that, after talks with Mr Trump, it would not waive trade sanctions on Russia for US firms seeking to restart work. It had been reported that Exxon, the world’s largest publicly traded oil ... Read More »

The stock market doesn’t consider oil ought to be $50

Oil natural fuel drilling Robert Nickelsberg | Getty pictures The fee of U.S. crude is up extra than 34 percent this 12 months, trading briefly above $50 a barrel Thursday morning. but stocks of U.S. strength corporations in the S&P 500 are up simply over elevenpercent 12 months to this point. based totally on the ancient correlation of the 2, ... Read More »

$50 in the books, right here’s how to exchange $60 oil

U.S. oil prices traded above the important thing $50 stage Thursday for the first time on the grounds thatOctober. Six weeks ago the commodity was under $forty a barrel. So how are you going to capitalize on the subsequent $10 flow? WTI crude is up more than eight percentage this month on reviews of falling inventories and decreasedrefinery capability the ... Read More »

Cramer: BP is like playing oil ‘roulette’

BP investors might as well be playing in the casino, especially after its latest earnings report, CNBC’s Jim Cramer said Tuesday. “BP turns out to be a dice roll in oil. Who would have thought of that [CEO Bob] Dudley had put together a company that I thought wasn’t nearly as levered to the daily price of oil. Literally, that’s ... Read More »

Cramer: BP is like playing oil ‘roulette’

BP investors might as well be playing in the casino, especially after its latest earnings report, CNBC’s Jim Cramer said Tuesday. “BP turns out to be a dice roll in oil. Who would have thought of that [CEO Bob] Dudley had put together a company that I thought wasn’t nearly as levered to the daily price of oil. Literally, that’s ... Read More »

Expect M&A from all big oil firms: Evercore’s Terreson

When it comes to dealmaking among big, integrated oil companies, it’s not a question of who will do deals this year, but when, according to top-rated energy analyst Doug Terreson of Evercore ISI. Mergers and acquisitions activity in the U.S. energy patch fell to a five-year low in the final quarter of 2015 as oil and gas companies preserved cash ... Read More »

Why oil could surge to $85 by year-end: Analyst

Depressed oil prices are likely to rally in the second half of the year —perhaps as high as $85 per barrel, energy analyst Michael Rothman said Monday. That said, he added any move higher won’t be a result of coordinated production cuts. West Texas Intermediate crude tumbled around 5 percent in late morning trade to under $32 per barrel, as ... Read More »

Cramer: Keep an eye on oil prices

Oil prices are pushing stocks lower as investors looked to move on from a dismal January, CNBC’s Jim Cramer said Monday. “The inventory numbers are still too large. I don’t see any real demand at the $34-$35 level,” Cramer said on “Squawk on the Street.” U.S. oil inventories increased by 8.4 million barrels from Jan 18. to Jan. 22, according ... Read More »

Big oil expected to report steep profit and revenue declines

Earnings season gets underway for the energy industry’s giants on Friday when Chevron reports before the bell. With profits and revenue for so-called “Big Oil” expected to fall significantly from a year ago, investors will have an eye on a few critical factors. In a field of battered drilling stocks, many analysts have advocated holding the big, integrated oil companies ... Read More »

US energy M&A hits 5-year low as oil patch enters ‘survival mode’: Report

Dealmaking in America’s oil patch plunged to a five-year low in the fourth quarter as corporations preserved cash in the face of falling crude prices and tight capital markets. The U.S. energy sector announced 42 deals worth $50 million or more for a total of $31.6 billion in mergers and acquisitions in the closing months of 2015, according to PricewaterhouseCoopers. ... Read More »