"Crude Oil Falls More Than $1 as Equities Decline, Demand Drops"
Crude oil fell after U.S. equities dropped on a report showing that retail sales unexpectedly declined in April and fuel demand plunged to a 10 year low. Oil dropped as much as 2 1/2 percent as stocks slipped after the Commerce Department said that purchases at U.S. stores decreased 0.4 percent last month. An Energy Department report showed that that fuel use fell to the lowest level since May 1999. Prices rose earlier when the report showed.....Complete Story
"Energy Companies Pounce on Price, Equities Rally by Raising Capital"
Independent crude oil and natural gas producers are taking advantage of the commodity price and broader stock market rally by raising capital. The flurry of deals, however, masks the varying degrees of financial health among companies in the sector. Better capitalized companies, which tend to be larger, are using the opportunity to build up cash reserves to invest in growth. Many smaller firms, meanwhile, had overextended themselves when oil and gas prices were at all time record highs and are.....Complete Story
"OPEC Raised Oil Output for the First Time Since July"
The Organization of Petroleum Exporting Countries boosted oil production last month for the first time since July, exceeding its quota by 967,000 barrels a day and backtracking its implementation of supply cuts intended to stem falling prices. The 11 OPEC members bound by targets implemented 77 percent of planned output cuts of 4 1/2 million barrels a day, down from a revised 82 percent for March, the Vienna based organization said.....Complete Story
Today’s Stock Market Club Trading Triangles
=====================================================================================
No comments:
Post a Comment