Tag Archives: oil

U.S. oil production is declining at a faster pace


Investors looking for a bullish case for oil will probably be pleased to hear that the downtrend in U.S. oil production is accelerating. A new forecast in the?U.S. Energy Information Administration calls for crude oil production from new wells to dip to 263,000 barrels per day (bpd) in June – the lowest level in two years. Stfane Marion, chief economist ...

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Iron ore is not like oil


Investors may be lured to think the recent increase in oil prices foretells similar gains in iron ore, but Ben McEwan at CIBC World Markets says these expectations are based more about hope than anything of substance. For one thing, the analyst found little historical correlation between the two commodities as it is lower than the correlation between other industrial ...

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Oil prices leap after U.S. weekly crude supply shrinks over three times more than expected


LONDON – Oil prices rose on Wednesday after U.S. government data confirmed a big weekly drawdown in crude inventories as well as on signs that U.S. oil production growth was leveling off after many years of sharp increases. The U.S. government\’s Energy Information Administration (EIA) said on Wednesday that U.S. crude oil stocks fell 6.81 million barrels to 470.6 million ...

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Oil roller coaster to continue


Oil is expected to swoon again in the weeks ahead but should eventually settle greater than current levels sometime next year, says TD Economics in its latest update on crude prices. “There\’s considerable risk for an additional leg down in prices within the coming months,” Dina Ignjatovic, an economist in the bank, said in a note to clients. “Overall, we ...

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Zargon Oil and Gas Ltd bows to hedge fund pressure and chops dividend


CALGARY C An American hedge fund got the outcomes it wanted in pushing management at Zargon Gas and oil Ltd. to chop the company\’s dividend. Livermore Partners had been pushing Calgary-based Zargon to get rid of its dividend entirely however the fund\’s managing director David Neuhauser said within an email the changes Zargon announced Monday were \”consistent using what we ...

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TSX closes lowers as oil falls, Greek talks continue


TORONTO – The Toronto stock market closed lower Friday as oil prices weakened and concerns intensified within the Greek debt crisis in front of a key meeting a few days ago.The S&P/TSX composite index dropped 89.41 suggests 14,808.09 as the loonie rose 0.05 of a U.S. cent to 81.20 cents. Markets everywhere anticipated developments over the weekend in the negotiations ...

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Greece, China and oil troubles are adding up to a world of catastrophe for investors


In ancient Greek tragedy, there was always a point where events took a turn for that worse. Things seemed to be going well, the hero was on his way up, and then, poof, it was gone. Mayhem and misfortune followed. Investors these days might be wondering if they haven\’t reached that inflection point, too. This is not only because of ...

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TSX takes a hit as oil drops to three-month low, loonie retreats


TORONTO – The Toronto stock market weakened Monday like a steep stop by oil prices and fallout in the resounding \”no\” vote within the Greek debt referendum pulled most major sectors lower. The S&P/TSX ended the session down 88.82 points to 14,593.57. Oil prices closed at their lowest level within three months using the August crude contract dropping $4.40 to ...

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TSX, Wall Street slide as oil slips on China growth fears


TORONTO – North American stock markets closed sharply lower Wednesday carrying out a big sell-off in China and recurring uncertainty over Greece\’s debt woes. The decline came as an unspecified technical glitch halted trading around the New York Stock Exchange for more than half the session. Trading of NYSE securities on other platforms – such as the Nasdaq – were ...

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Oil continues descent as Iran nuclear deal looms


Oil extended its decline after the biggest weekly drop since March as investors weighed the prospects of Iran increasing crude exports within an oversupplied market. U.S. and Iranian diplomats are digging in over the last remaining issues supporting an historic nuclear deal, casting doubt on earlier optimism that the accord could be announced as early as Monday. Saudi Arabia told ...

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