For investors with funds in Citibank associated with auction rate securities there is reason to watch the news. New York State Attorney General Coumo is said to be preparing charges against Citibank for fraud in marketing and sales.
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Jim Sutliff
Oil demand looks as though it is showing signs of weakness. As demand softens the price should continue to fall. Weaker demand coupled with legistlation looking to curb speculation, should prove to lower prices.
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Jim Sutliff
Oil continues to fall and has dipped below the $125 dollar mark. Continued movement on the downside may happen with Congress considering legislation to limit speculative trading.
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Jim Sutliff
Oil Tumbled $10 dollars on a weaker dollar and statements by Bernanke. Much of the decline came from program trading when oil fell below $140. The price has rebounded a bit but is still down almost $7 dollars for the day.
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Jim Sutliff
Oil falls slightly in after hours trading due to news from Paulson. The perceived support of Freddie Mac and Fannie Mae helped to ease oil prices but it should be pointed out that trading is very light. Once the week gets started and traders digest all the information we will see if this news has any real impact.
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Jim Sutliff
The North Dakota REIT has posted 11 straight quarters of growth from operations and it’s starting to draw attention. One of the primary reasons for the housing boom is the rise of oil. North Dakota is the eighth biggest oil producing state in America.
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James Sutliff
Oil took a tumble for a second straight day on signs that the economy is slowing. The fall came after a few days of increasing crude prices mainly due to light trading associated with the 4th of July holiday.
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Jim Sutliff
Supplies of crude oil fell by almost 2 million barrels and the market responded. Crude oil hit $144 dollars a barrel in light trading.
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http://biz.yahoo.com/ap/080702/oil_prices.html
Jim Sutliff
Commodities are heading for a bubble burst? That’s what some analysts are saying after watching the sector have the best first half since 1973. Investors should keep in mind that trading has a great deal to do with the current price structure and that traders make money on volatility. Therefore, if the market moves down fast they will still make money.
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James Sutliff
Another Saudi oil field is ecpected to open by the end of 2009. The production from the new field will increase the Saudi output by over 1 million barrels a day.
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http://biz.yahoo.com/ap/080629/saudi_giant_oil_field.html
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.
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http://news.yahoo.com/s/ap/20080626/ap_on_bi_ge/oil_prices
Jim Sutliff
One publisher indicated that he believed that money would continue to move into commodities and away from stocks. This statement was made at a recent conference of Japanese investors. The reasoning included a prediction of higher inflation rates and greater returns in commodities.
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James Sutliff
Crude oil rose on reports of Israeli military exercises that were preparing for an attack on Iran. It has been widely expected that there will be a bombing of the nuclear sites within Iran.
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Jim Sutliff
Oil takes a nosedive of almost $5 dollars today. The decline is a reaction to the news that China is hiking energy costs. This move is likely to lower demand in a part of the world that is rapidly expanding.
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Jim Sutliff
Deal Journal is a Wall Street Journal blog that is well worth the RSS feed. Deal Journal covers equity and market players with numerous posts per day.
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Jim Sutliff
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