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25. February 2012 by Jim Sutliff.
Crude oil almost hit $110 in Friday trading and settled at $109.77 a barrel. This is the highest level that oil has traded at in the last 9 months. The conflict with Iran is the driving force behind higher trading prices. Iran is the second largest oil producing nation in OPEC with an output of 3.5 million barrels a day.
To read a related Wall Street Journal article, please click here:
http://online.wsj.com/article/SB10001424052970203918304577243120332014742.html?KEYWORDS=crude+oil
James Sutliff
Posted in Trading, OPEC, Options & Futures, Oil, General, Investments, Economic News | No Comments »
24. February 2011 by Jim Sutliff.
Crude oil reversed an upward trend in the final hours of trading on Thursday. Crude oil had topped the $100 mark but ended up lower on the day finishing down almost $2 dollars. News relating to a Saudi Arabian aid package helped to ease concerns for the region. In addition, the energy inventory report indicated another weekly increase in supplies. The oil market remains well-supplied with over 4 million barrels a day of OPEC spare capacity.
To read a related MarketWatch article, please click here:
Jim Sutliff
Posted in Options & Futures, Trading, OPEC, Oil, Natural Gas, Gasoline, General, Investments, Economic News | No Comments »
10. February 2011 by Jim Sutliff.
Oil and Gasoline supplies rose last week and that sent prices lower in trading. Oil prices are under pressure from rising inventories and increased output from OPEC. Supplies of oil rose 1.9 million barrels last week to 345.1 million barrels. Gasoline supplies rose 4.7 million barrels to 240.9 million barrels.
To read a related Yahoo! article, please click here:
http://finance.yahoo.com/news/Oil-prices-fall-as-supplies-apf-2431049096.html?x=0
Jim Sutliff
Posted in Options & Futures, Trading, OPEC, Oil, Natural Gas, General, Investments, Gasoline | No Comments »
30. January 2011 by Jim Sutliff.
OPEC is expected to discuss oil output levels at an international energy forum in Riyadh on February 22nd. All OPEC members will be at the forum and they could significantly raise output levels. OPEC has been under pressure to increase output levels and the turmoil in Egypt is rattling energy markets.
To read the Reuters article, please click here:
http://www.reuters.com/article/2011/01/30/businesspro-us-opec-saudi-idUSTRE70T38D20110130
Jim Sutliff
Posted in Stocks, Trading, OPEC, Options & Futures, Oil, Gasoline, General, Investments, Economic News | No Comments »
11. December 2010 by Jim Sutliff.
After meeting in Ecuador, OPEC announced that it is maintaining current production levels at slighlty less than 25 million barrels a day. OPEC is comprised of 12 members and they account for almost 40% of the oil production in the world. A significant percentage of OPEC production comes from Saudi Arabia which has the strongest voice in OPEC decisions. OPEC is scheduled to meet again in Vienna in June 2011.
To read a related Bloomberg article, please click here:
James Sutliff
Posted in OPEC, Options & Futures, Oil, Investments, Economic News | No Comments »
28. November 2010 by Jim Sutliff.
It’s starting to look like the perfect storm for a decline in oil prices, at least in the short term. Contributing factors include a weak global economy, tensions in Korea, the European debt crisis, high production levels from OPEC, and monetary tightening from China. All that is missing from the equation is a warmer than average winter in the northeast. January crude closed at under $83 dollars a barrel on Friday.
To read a related Wall Street Journal article, please click here:
http://online.wsj.com/article/BT-CO-20101126-705421.html
James Sutliff
Posted in OPEC, Options & Futures, Oil, Investments, Economic News | No Comments »
26. December 2009 by Jim Sutliff.
The United Arab Emirates has agreed to cut output in order to comply with OPEC. This action has temporarily pushed oil prices to the $40 dollar level. The oil market may continue to see price declines in the near future before returning to the upward price volatility in the early spring.
To view a related article, please click here:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aBzSx6W6WR7Y&refer=home
Jim Sutliff
Posted in Trading, OPEC, Political News, Options & Futures, Investments, Oil, General | No Comments »
19. December 2008 by Jim Sutliff.
Valero has cut refinery activity due to fog slowing their shipments of crude. The plant processes 325,000 barrels a day and may have to halt production for a longer time period if shipment delays continue. Crude oil has fallen to almost $35 dollars and some analysts have predicted an additional $10 dollar decline. Sustained low prices are not likely once the production cuts from OPEC will start to have an effect.
To view a related article, please click here:
http://www.bloomberg.com/apps/news?pid=20601072&sid=aYdDDpR8Sq9o&refer=energy
Jim Sutliff
Posted in Earnings, OPEC, Oil, Investments, General, Gasoline | No Comments »
29. October 2008 by Jim Sutliff.
Crude oil shot up almost 10% today as the central bank cut rates. This is expected to have the effect of increasing demand for oil. Opec is also expected to cut production at the next meeting.
To view a related article, please click here:
http://www.bloomberg.com/apps/news?pid=20601110&sid=amIGiZSmcnpg
Jim Sutliff
Posted in Regulatory, Interest Rates, OPEC, Options & Futures, Oil, Economic News, General, Investments, Banking | No Comments »
20. October 2008 by Jim Sutliff.
Natural Gas prices declined slightly because investors have moved towards crude oil. Opec has grabbed the attention of traders by indicating that a cut in production is likely at the next meeting. Natural Gas should still show gains with winter on the way. Not only does the midwest rely heavily on Natural Gas but the northeastern states have many homes that recently converted due to high oil prices.
To view a related article, please click here:
http://www.bloomberg.com/apps/news?pid=20601072&sid=ah8JQE.O73ho&refer=energy
Jim Sutliff
Posted in Options & Futures, Regulatory, OPEC, Oil, Natural Gas, Economic News, General, Investments, Alternative Energy | No Comments »
17. October 2008 by Jim Sutliff.
Crude oil prices have been in free fall mode since the economic crisis has taken center stage. This may end as OPEC is poised to cut production next week in an attempt to prop up prices.
To view a related article, please click here:
http://www.bloomberg.com/apps/news?pid=20601087&sid=adyI2lis0T38&refer=home
James Sutliff
Posted in Political News, Regulatory, OPEC, Options & Futures, Oil, Gasoline, General, Investments, Economic News | No Comments »
7. October 2008 by Jim Sutliff.
Natural Gas declined after reports indicated that supplies were increasing and that demand would continue to decline. At the same time crude oil had a slight increase due to OPEC members asking for a cut in production. The likely result will be more natural gas use in winter because of the conversions from heating oil which have already taken place. Even with a slow economy there could still be a spike in natural gas prices.
To view a related article, please click here:
http://www.bloomberg.com/apps/news?pid=20601072&sid=a5E8QlcWbzso&refer=energy
Jim Sutliff
Posted in OPEC, Options & Futures, Natural Gas, Investments | No Comments »
26. June 2008 by Jim Sutliff.
Oil moved past $140 today on comments by OPEC that it could go well above $150 before the end of the year. This is different than the opinions of refinery executives who started buying their own shares. Insider purchasing by refineries is a sign that oil will decline in costs. Refineries make their money on a crack spread and need lower oil costs to be profitable.
To view a related article, please click here:
http://news.yahoo.com/s/ap/20080626/ap_on_bi_ge/oil_prices
Jim Sutliff
Posted in OPEC, Options & Futures, Oil, Investments, Uncategorized | No Comments »
14. June 2008 by Jim Sutliff.
The Saudis are expected to increase oil production by a half a million barrels a day next month. This increase will bring the Saudi production to around 10 million barrels a day. More important than the increase is the signal of independence from OPEC by the Saudis. Saudi Arabia is a key American ally and is likely to play a greater role in the middle east.
To read a recent article, please click here:
http://news.yahoo.com/s/afp/20080614/ts_afp/ussaudioil_080614031419
Jim Sutliff
Posted in OPEC, Options & Futures, Oil, Economic News | No Comments »
16. May 2008 by Jim Sutliff.
Pesident Bush is heading to Saudi Arabia and one of the main topics will be an increase in oil production by OPEC. Saudi Arabia has the ability to increase OPECs production due to their percentage vote in OPEC. Also, they could decide to increase production on their own since they do have additional capacity.
To view the article, please click here:
http://www.reuters.com/article/latestCrisis/idUSL15723179
Jim Sutliff
Posted in OPEC, Political News, Options & Futures, Oil | No Comments »