DrumBeat: October 24, 2008

Heating Oil Distributors Fear Tough Winter Amid Credit Freeze NEW YORK (Dow Jones) ... been our view that the value of commodities, including oil, should be determined in open, competitive [more...]

Date: 2008-10-24 12:30:39

Blog posts (349) | Videos (184)
 

An Obama surge on Wall Street, and beyond?

Did we just witness the Obama pre-victory rally? The stock market today bucked convention with a sharp advance that lifted the Dow Jones ... stocks (European blue-chip shares jumped 4.1%, on average) and commodities (oil futures soared $6.62 [more...]

Date: 2008-11-05 08:49:47

ECB Official Sees Stabilization by End 2009

A worsening financial market crisis is making the outlook for the real economy less certain, ... , while prices for oil and other commodities remained volatile. “The past years have shown [more...]

Date: 2008-10-29 08:46:00

Price of Oil Lowers After Government Reports Reserves

Its simply a matter of supply and demand, and it seems we have a surplus of oil supply that is allowgin for reasonable prices for oil.  Sure you can argue that we can’t always expect such low prices for gas since inflation ... energy commodities?  OPEC?  *shiver* A Breakdown of Where Oil Goes According to a report [more...]

Date: 2009-01-12 10:13:23

Friday morning links

TOP STORIES Citigroup eyes options, including merger - Reuters Treasuries Fall, Eroding Biggest Weekly Gain Since 1987 Crash - Bloomberg Why oil rich Sheiks are turning to Gold - Commodity Online How deep a recession? - Christian Science Monitor US global dominance 'set [more...]

Date: 2008-11-21 14:12:40

Kinder Morgan Predicts Future (KMP)

Kinder Morgan Energy Partners (NYSE:KMP) announced this week that it expects to distribute $4.20/common unit as its dividend in 2009 ... . Either way, it won't make much difference. Kinder Morgan includes its commodity oil revenues [more...]

Date: 2008-11-26 13:52:33

Crude Oil Finds Longterm Support and Buy Signal at $40

We’ve witnessed absolute destruction in the price of crude oil and in other commodities in such a short period of time ... before making any trading or investing decisions. If you don’t trade futures, you might want to see [more...]

Date: 2008-12-09 15:42:00

Coalition of big consumers of oil blames speculators for high prices

WASHINGTON (CNN) — Speculation by financial traders is causing a substantial boost in crude oil prices, according to a group of big consumers of oil now asking Congress to impose limits on commodity ... what he called “physical traders” such as airlines and the trucking industry. –From CNN’s Paul Courson [more...]

Date: 2008-07-11 17:59:33

Green Ink: There’s Your Energy Bill, Now Kill It

Green Ink: There’s Your Energy Bill, Now Kill It Posted by Keith Johnson Crude futures rebounded Wednesday to about $95 after the AIG rescue gave investors reason ... a credit crunch for commodities speculators, forcing plenty of oil investors to unwind [more...]

Date: 2008-09-17 12:19:31

The Top 10 Biofuels Stories of the Year: #6, Commodity prices

Palm, corn, wheat, ethanol, oil, and soybeans went on their biggest Coney Island rollercoaster ride ever this year, with corn rising as high last summer as $7.85 in the futures markets before falling to $3.50 late ... , had just two biodiesel plants operating in the country. Corn, soybean futures rise sharply on weak [more...]

Date: 2008-12-31 12:59:02

Financial-Stock Death Watch?

The most-watched financial television news station, CNBC, has generally been consistent with the various quotes that appear in the bar at the top ... the most important commodity, and there’s been interest in oil ever since it hit $50 a barrel. Right [more...]

Date: 2008-09-11 15:05:26

Mika: Offshore Drilling Wouldn't Lower Gas Prices for Ten Years

Mika Brzezinski might be an Obama backer, but she really should sit down with Hillary Clinton. The woman who turned $1,000 into $100,000 could clue her in to the workings of the commodities markets.  Be it cattle or crude oil, the concept's the same: these are "futures" markets in which [more...]

Date: 2008-07-15 11:11:46

Jim Hamiton Listens to Janet Yellen of the SF Fed on Risks for the U.S. Economy

Janet: Econbrowser: Janet Yellen on risks and prospects for the U.S ... high... inventories of unsold homes remain at elevated levels.... futures market for house prices ... in developing countries has boosted their appetite for commodities... since 2000, world demand for oil [more...]

Date: 2008-07-08 18:43:00

"When the Normal Rules are Turned Upside Down..."

Samuel Brittan: The problem with all this economic doom and gloom, by Samuel Brittan, Commentary, Financial Times: .. ... increases in oil and commodity prices, which called [more...]

Date: 2009-01-01 21:26:00

NYT's Krugman: Speculators schmeculators - demand is pushing oil higher, not traders

Filed under: International markets, Commodities, OilOne of the major economic debates on Main Street and in Washington concerns the influence of ... -- driven it higher than a level the commodity would trade at if the price were based solely on supply ... a commodity's price can rise a great deal, without the influence of speculators. His evidence: iron [more...]

Date: 2008-07-01 17:34:00

Obama goes after McCain, oil speculation

by John McCormick Sen. Barack Obama's campaign went on the offensive again today on energy related matters, charging that a co-chairman for Sen ... said the provision in law exempts some energy traders from regulation and thus prevents the Commodity Futures Trading Commission from fully overseeing the oil futures market and investigating cases [more...]

Date: 2008-06-22 18:55:46

Earnings on Tap this Week

Earnings season does not really begin in earnest until NEXT week but the first wave is hitting this week ... . That said, we hold a few commodity stocks on the "reflation" trade and any day oil, or the Baltic Dry Index rise HAL9000 and friends drive up commodity stocks as if the world economy will turn any [more...]

Date: 2009-01-05 12:30:07

Baker Huges Destroys Four Years Of Gains (BHI)

Lower and lower oil prices are good for the broad economy, but they are bringing pain up and down the oil patch ... will factor lower commodity prices and slower global demand growth into their budgets and a lack [more...]

Date: 2008-10-22 16:49:46

Reflections On 2008, Themes For 2009

For many, 2008 will be best remembered as the year they would like to forget ... witnessed a credit crunch, soaring corporate bond yields, a commodities boom and crash with oil soaring [more...]

Date: 2009-01-06 12:31:44

Remember $50 a Barrel Oil? It Has Returned.

Remember $50 a Barrel Oil? It Has Returned. Posted by David Gaffen ... , falling to one-third of that price in recent trading. Scott Magnuson, commodity trading advisor at MF Global, says oil could eventually settle into a trading range in the $45 to $50 area, but to date [more...]

Date: 2008-11-20 15:03:47

Southeast Asia: Newsmakers of 2008

The big story of the year in Southeast Asia was the global economic downturn. A rice and food price crisis hit the region last summer. It was compounded by the dramatic rise of oil and gas prices. When prices of these commodities began to stabilize, Wall Street announced the crash of several banks and major financial institutions [more...]

Date: 2008-12-26 05:36:57

Bespoke's Commodity Snapshot

Down another $3 today, oil looks like it will at least test its low of $33.87 on December 12th ... of weeks.  The trend will need to continue for some time, however, for silver and platinum to trade back [more...]

Date: 2009-01-12 17:49:24

Timing the next rush to gold

Timing the next rush to gold filed in Finance on Jan.03, 2009 ‘) ... expectations have diminished markedly, too, as prices of other commodities, mainly crude oil and related [more...]

Date: 2009-01-03 23:56:21

Timing the next rush to gold

Timing the next rush to gold filed in Finance on Jan.05, 2009 ‘) ... expectations have diminished markedly, too, as prices of other commodities, mainly crude oil and related [more...]

Date: 2009-01-05 20:56:15

A Day In The Life of Oil

With crude oil crossing the $142/record mark on Friday, one newspaper took a close-up look at how oil affects traders, fishermen, pre-school kids, ... -old commodities trader, family man, and former top minor league baseball prospect. This strange ... futures trades on that exchange. He's scaled back in recent years and says it's too dangerous to make [more...]

Date: 2008-06-30 20:54:00

Reflections On 2008, Themes For 2009

2008 may best be remembered as the year most would like to forget ... a credit crunch, soaring corporate bond yields, a commodities boom and crash with oil soaring to $140 [more...]

Date: 2009-01-06 12:16:00

Naughty and nice in the oil markets

It’s an iconic scene, playing out in many movies from Trading Places and Wall Street to A Good Year (below) ... that hedging, rather than speculation, is at fault.  Refiner SemGroup overinvested in oil futures ... investors tend to hold long positions in commodities as inflation hedges. Losses in stocks forced [more...]

Date: 2008-12-27 20:17:00

Oil Traders: Don't Fence Us In

Investment bank and hedge fund representatives tell the Commodity Futures Trading Commission the oil market doesn't need more oversight [more...]

Date: 2008-06-17 00:51:19

Technical Picture - Consolidation Ahead of FED

Stocks sold off in early trade as investors grappled with ongoing uncertainty and the threat of more losses from the financial sector, ... funds futures imply a reduction to the fed funds target rate is certain. There is currently a 66 ... in commodities such as agchem, natural gas, gold, and crude oil. Crude was up as much as 8.2% during [more...]

Date: 2008-12-16 06:16:00

Technical Picture - Consolidation Ahead of FED

Stocks sold off in early trade as investors grappled with ongoing uncertainty and the threat of more losses from the financial sector, ... funds futures imply a reduction to the fed funds target rate is certain. There is currently a 66 ... in commodities such as agchem, natural gas, gold, and crude oil. Crude was up as much as 8.2% during [more...]

Date: 2008-12-16 07:00:16

MBCFX - spread 2 pips for major

MBCFX | Forex, Futures & Commodities, Spot Gold & Silver, Spot Oil Anybody has any experience on this broker, kindly share. Is the spread fix or variable subject to market condition [more...]

Date: 2008-12-22 05:18:56

Oil recouples

Basic supply and demand economics maintain that as prices fall, demand increases, but to what extent? The effect on oil, for one, will be negligible, according to the commodities team at Merrill Lynch ... growth -- also becoming a negative number (see the charts below).... [more...]

Date: 2008-11-25 10:43:27

TSX falls 240 points on sliding commodities

TORONTO - The Toronto stock market chalked up triple-digit losses for a second session late in the morning, with declines led by commodity stocks amid sliding prices for oil and metals. [more...]

Date: 2009-01-11 16:47:00

Paul Krugman Critiques Guillermo Calvo on Commodity Prices

The fact that somebody has bought an oil futures contract means that somebody else has sold one--hence no effect on demand without real storage ... , as far as I can tell, online. Why isn’t Weltwirtschaftliches Archiv on JSTOR?). Speculation can affect ... institutions that buy commodity futures as an investment — are responsible for the price surge. The [more...]

Date: 2008-06-22 15:35:07

Four at Four: OPEC Gets Burned

This is a situation the market has not witnessed in some time: declines in oil, the dollar, bond yields and stocks ... Scott Magnuson, commodity trading advisor at MF Global. “The perception of another six to seven ... Paul Brigandi, vice president of trading at Direxion Funds. macys_art_160_20081217161108.jpg [more...]

Date: 2008-12-17 12:26:00

Four at Four: OPEC Gets Burned

This is a situation the market has not witnessed in some time: declines in oil, the dollar, bond yields and stocks ... Scott Magnuson, commodity trading advisor at MF Global. “The perception of another six to seven ... Paul Brigandi, vice president of trading at Direxion Funds. macys_art_160_20081217161108.jpg [more...]

Date: 2008-12-17 12:26:00

Chinese Electrical Output Fell 9.6% in November (Plus Possible False Positive on Shipping Front)

Although talk of deep OPEC production cuts and hopes for an auto industry rescue have given oil prices a boost, ... a forecast for its commodity exports for the year to June 30, 2009, by 10 percent. “Commodity-producing [more...]

Date: 2008-12-15 07:52:48

The Funny and Money Monday Daily Links

My oh my are the airlines in trouble. You can mess with the vacationers but don't mess with the business travelers. The days of floor traders are slowly coming to an end Barrons is banking on $100 oil ... happy about it. The Brightest Stars in the Commodity Boom (try to forget the gay Asian cowboy [more...]

Date: 2008-06-23 11:25:00

Bush Ends Executive Ban on Off-Shore Drilling and Oil Prices Drop 7% in two trading sessions

June 20, 2008 — USA Today: Democrat Barack Obama’s campaign released remarks he plans to make at the start of a news conference in ... of futures trading in commodities. – WLS ... on July 14 — $145.18. Price of oil at close on July 16 — $134.60. “Crude-oil futures tumbled $4.14 [more...]

Date: 2008-07-17 00:34:34

Overnight markets: Down

Asian stocks and US futures slid Thursday, following US and European markets down amid fresh fears that worldwide bank rescue programmes have come too late. Crude oil prices fell to 13-month lows as commodities prices tumbled across the board. US markets (Wed) DJIA down 733.08 at 8,577.91 Nasdaq... [more...]

Date: 2008-10-16 04:44:46

delhistockclub Antique-Sun Sets On Oil, Negative for Reliance, Cairn, Selan, Gail & Ongc

Please find enclosed our Oil & Gas sector report 'Sun sets on oil era' covering Indian upstream companies ... prices, since with falling commodity prices and increased availability of contractors, capital costs ... . Key highlights:•        Contrary to market expectations, we believe that oil prices to remain [more...]

Date: 2009-01-12 06:05:00

Eric Bolling: "Oil Should be $75 to $80"

Watch the following video... So, how to play it? the tickers are (USO), (DBO) and the double return (up or down) is the (DXO).Right now, I find it hard to be investing in stocks. Financials are out, consumer discretionary ... . So, that leaves certain commodities and I think the most value here is in oil..Disclosure ("none [more...]

Date: 2009-01-07 17:53:00

Carnival of Contemptibles (by Don Boudreaux)

Jonah Goldberg's column in today's New York Post is excellent. Here's a snippet: Never mind that there's no evidence "speculators" - i.e. commodity traders - are doing anything to increase the price of oil. They aren't hoarding it; no one's cornering the market. The speculators make money when the price goes down, and they make money [more...]

Date: 2008-07-16 10:26:56

Cebolas

“What onions teach us about oil prices” na CNN The bulbous root is the only commodity for which futures trading is banned. Back in 1958, onion growers convinced themselves that futures traders (and not the new farms ... in onions. The law still stands. And yet even with no traders to blame, the volatility in onion prices [more...]

Date: 2008-07-09 09:35:41

The case for oil price speculation improves

U.C. San Diego economist Jim Hamilton has long argued that fundamental forces of supply and demand explain oil prices better than "speculation ... by David Cho, "A Few Speculators Dominate Vast Market for Oil Trading." Hamilton closed his dissection ... recently deemed by the Commodities Futures Trading Commission to be more of a speculator than [more...]

Date: 2008-08-27 16:28:48

Commodities: Bear Market or Bounce?

By Martin Hutchinson Contributing Editor With oil off more than 20% from its July peak, and the Reuters-CRB Continuous Commodity Index down 19% from its June high, traders are betting that... Money Morning is here to help investors profit handsomely on this seismic shift [more...]

Date: 2008-08-27 02:42:30

Friday morning links

TOP STORIES Payrolls plunge by stunning 533,000 in November - MarketWatch Auto bailout could be tied to gov't-run overhaul - AP Fake inflation ... no silver bullet - CNN/Money MARKETS/INVESTING Oil near 4-year lows on dire economic news - AP Commodity Fundamentals Are ‘Unimpaired,’ Rogers Says - Bloomberg High Anxiety About High Yield - NY [more...]

Date: 2008-12-05 14:01:20

Samuelson on Why We Should (Not) Shoot the Speculators

Who are these offensive souls? Well, they often don’t fit the stereotype of sleazy high rollers: ... and producers of commodities to hedge. Airlines can lock in fuel prices by buying oil futures; farmers can lock ... generally don’t buy the physical goods, whether oil or corn. Instead, they trade “futures contracts,” [more...]

Date: 2008-07-01 15:26:38

Fool's Mission By OPEC

Oil has fallen below $70 in the wake of a slowing global economy and massive deleveraging by hedge funds ... and commodity funds that started rolling over ever increasing numbers of oil futures. This put upward [more...]

Date: 2008-10-16 19:53:00

Traders Driving Oil Prices Up

"Just about everyone is ducking for cover. Big Oil is pointing fingers at hedge fund managers, who blame commodity index funds, who in turn cite surging demand in China, production losses in Nigeria [more...]

Date: 2008-06-19 20:03:56

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