Venezuelan Oil Minister Rafael Ramirez' announcement that the state will borrow more money to help pay off national oil company debts follows the disclosure by President Hugo Chavez of a letter urging Moscow to cooperate in selling oil at $100 a barrel.
State petroleum company Petroleos de Venezuela has run up billions of dollars in debts to contractors since global oil prices began tumbling nearly a year ago. Although denying that PDVSA had cash-flow problems.....Complete Story
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Sunday, June 28, 2009
Venezuela to Borrow to Pay Oil Debts
Labels:
Crude Oil,
debt,
Moscow,
Rafael Ramirez,
Venezuela
Green Bill's Biggest Test Awaits In The Senate
Following intense last minute wrangling among its members and lobbying from President Obama, the House of Representatives passed potentially landmark legislation Friday that seeks to reduce the release of carbon dioxide by making industry pay for its emissions. The Democrat sponsored American Clean Energy and Security Act of 2009 passed by a razor thin margin, with 219 votes in favor, including eight from Republicans just one more than the minimum needed.....Complete Story
Kentucky USA Energy Reports on Drilling at New Albany Shale Leasehold
Kentucky USA Energy has provided an update on the Company's drilling operation on its leasehold property in the New Albany Shale in western Kentucky. The Company's drilling contractor mobilized its rig to the Company's next drilling location, Jimmy Jackson #1, spudded-in, and is presently drilling at approximately 1,172 feet. The Hunter Wells #4 location has been acidized in the Dutch Creek formation at 2,610 to 2,625 feet and at 2,705 to......Complete Story
Labels:
Crude Oil,
Kentucky USA Energy,
Natural Gas,
New Albany Shale
Using DBO, USO and Oil to Play Crude Oil
This article provides some straightforward insight as to how a retail trader/investor can implement a directional play on the price of crude oil. Included is a discussion of the manner in which the forward market for crude oil can cause crude oil ETF returns to deviate from spot market returns. This article is not intended to be authoritative, comprehensive, or highly technical. It is simply a compilation of previous discussions on the topic.....Complete Story
Labels:
Crude Oil,
DXO,
Market Folly,
trader
Iraq Warily Moving Ahead on Contracts With Oil Companies
On Monday, when Iraq puts development rights to some of its largest oil fields up for auction to foreign companies, the bidding will be a watershed moment, representing the first chance for petroleum giants like ExxonMobil to tap into the resources of a country they were kicked out of almost 40 years ago. Yet, there are widespread doubts about whether Iraq is ready for a sudden infusion of capital from international oil corporations.....Complete Story
Labels:
Crude Oil,
ExxonMobil,
Iraq,
Middle East,
Oil Companies,
Petroleum
Saturday, June 27, 2009
Russia to Cooperate With Shell on Sakhalin 3 and 4
Russia is prepared to cooperate with Royal Dutch Shell Plc, Europe’s largest oil producer, on oil and gas projects in the Russian Far East known as Sakhalin-3 and Sakhalin-4, Russian Prime Minister Vladimir Putin said. Putin, speaking at his residence in Novo-Ogaryovo, outside Moscow, met with Shell Chief Executive Officer Jeroen van der Veer, and Peter Voser, who will become the next chief executive. Now is an “ideal time” to move quickly.....Complete Story
Oil Prices Hit Reverse as Wall Street Slips
Oil prices fell Friday, mirroring losses on Wall Street, as traders took profits after earlier jumping above 71 dollars per barrel on news of fresh unrest in key crude producer Nigeria. New York's main futures contract, light sweet crude for delivery in August, shed 94 cents to 69.29 dollars a barrel. In London, Brent North Sea crude for August dipped 86 cents to 68.92 dollars. Wall Street shares sank at the open on Friday, one day after a rally, as investors locked in profits and turned cautious ahead of the weekend.....Complete Story
Labels:
Brent North Sea Crude,
Crude Oil,
Nigeria,
Oil Prices
USO : Oil's New Downtrend ?
One of my favorite sites is The ETF Corner. Great analysis, with easy to understand charts using simple channnels. I never make my daily trade set ups without a quick visit to The ETF Corner. Here is their post from Friday on the USO and crude oil......
If USO does not manage to break above $38.5 soon, I believe we will likely see USO trading down within this new red downtrend.
If USO does not manage to break above $38.5 soon, I believe we will likely see USO trading down within this new red downtrend.
Labels:
channels,
Crude Oil,
Downtrend,
ETF Corner,
USO
Oil Price Remains Supported As China's Urge For A New Reserve Currency Exerts Pressures On The Dollar
Crude oil price extends gain above 70 in European morning as USD's retreats further against major currencies and stock markets rally. However, the benchmark contract may only add modestly, by around 1-2%, over the week due to the sharp fall earlier this week. NNPC, Nigeria's state oil company said that the nation has already shut around 1.4M bpd of oil production out of its 1.67M bpd quota as MEND's attack has intensified. Managing director of the group said that crude supplies for refinery will finish in 15 days.....Complete Story
Friday, June 26, 2009
Finding The Big Trades
In today’s video, we will be using MarketClub’s “Trade Triangle” technology to discover stocks that are potentially getting ready for big moves on the upside.
We will show you a quick and easy way to replicate these moves using using MarketClub’s tools for the trader. With just a few clicks of the mouse, you too will be able to spot these trades.
You can use MarketClub’s “Trade Triangle” signals for Stocks, Futures, Precious Metals, forex, ETFs and Mutual Funds. To the best of my knowledge there is no easier, faster way to find winning trades.
The video is free to watch and there is no need to register. I would love to get your feedback about this video so please feel free to leave a comment.
"Finding the Big Trades" Click Here To Watch
Labels:
Crude Oil,
day traders,
forex,
mutual funds,
trade triangle,
video
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