Markets

Stall Speed, Flattening Yield Curve, and the Longest Expansion

Data for Q1-2018 real GDP will be released on Friday, April 27. The Atlanta Fed’s GDPNow model predicts 2.0% q/q (saar) based on data available through April 17. That would put the y/y rate at 2.8%. I prefer the y/y metric because it solves the annoying “residual” seasonality problem that h ...

DUG Rockies: Whiting’s Aim To Be Pure-Play Bakken

Whiting Petroleum Corp.’s president and CEO, Brad Holly, kicked off Hart Energy’s DUG Rockies Conference & Exhibition April 25 with a discussion of the E&P’s game-changing strategies in the Williston Basin. But an additional narrative hook came during the post-presentation Q&A, when Holly said ...

Moody’s: E&P Sector Remains Positive On Production, EBITDA Growth Amid Capital Efficiency Focus

The outlook for the global independent exploration and production (E&P) sector remains positive, Moody’s Investors Service said in a new report released April 25. EBITDA will continue to grow strongly over the next 12 to 18 months, even as commodity prices stay within a moderate range, although hi ...

The Soaring Dollar Crushes The Commodity Rally- Craig Hemke (25/04/2018)

April 25,2018 Just last week, it appeared that a general rally in commodities was underway. Gold, silver, the base metals and crude oil were all soaring. But now, less than one week later, prices are falling sharply. And why? Blame the HFTs that trade the digital derivative contracts. They'v ...

PDVSA Ordered To Pay ConocoPhillips $2 Billion For Breaking Venezuela Contracts

An international arbitration court has ordered Venezuela's state-run oil company PDVSA to pay ConocoPhillips $2.04 billion for early dissolution of two joint ventures for producing oil in the OPEC-member country, the U.S. firm said on April 25. ...

US Energy Shares Outperform As Companies Begin To Report

After losing ground and underperforming the broad market in 2017, U.S. energy shares are climbing fast with oil prices and gaining attention from investors who think the trend may hold. Oil prices are near their highest since late 2014 thanks to strong demand and supply cuts by the Organization of t ...

Chevron Evacuates Venezuela Executives Following Staff Arrests

U.S. oil major Chevron Corp. has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state-owned oil company PDVSA, according to four sources familiar with the matter. Chevron asked other employees to avoid the facilities of its joint venture wit ...

Hess Sees More Growth In Bakken As Guyana Activity Picks Up

As Hess Corp. benefits from its 60-stage, 8.4 million pound proppant completion design in the Bakken shale play, the company is preparing to pump more, add a couple of rigs and another frack crew while conducting a study to determine optimum development methodology for each part of the basin. Drilli ...

McDermott Reiterates Rejection Of Subsea 7’s Non-Binding, Unsolicited Proposal

McDermott International Inc. (NYSE:MDR) said it is fully committed to completing the transformational combination with CB&I. and on April 25 reiterated that it had rejected Subsea 7’s unsolicited offer.  McDermott said in a news release: “on April 20, 2018, following the unanimous determination ...

A Bullish Position to Optimize Risk-Reward

As the following graph shows, shares in Royal Bank of Canada (RY) veered into correction territory after peaking at $108.52 on January 22, 2018. At the current price of $97.98, the security is down by over 9.7%. With the RSI (Relative Strength Index) indicator on the rise and the stochastic oscilla ...