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  #1  
Old 12-26-2017,
Airbladeici Airbladeici is offline
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Qtr. ends in a few days and oil is up about 7-8 dollars from the last qtr and they are exceeding their goal in oil production this qtr. Who knows where the price of oil will be 30 days from now or who knows what Iran will do or OPEC or Irac or the storms on and on. WE do know SU should report a great qtr and so will VLO CVX and many others. I hope your right madcow that su will be cheaper in 30 days as i would love to load up again at 67 which it hit twice in june. But im still in and looking for more as SU has taken out resistance last few days. New resistance is 77.68 and if that is taken out SU could see 80 imo. Good luck
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  #2  
Old 12-27-2017,
Airbladedsk Airbladedsk is offline
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Default DECK, JCP earnings miisses

Also, rising demand from China -- Asia's largest consumer of fuels -- has lifted oil prices in recent weeks, with crude futures now trading about 19 percent higher than a year ago.

"The market seems to be extending some of the gains from last week," said Man Financial broker Andrew Lebow. "Gasoline has provided a lot of the leadership" for the oil-price increases.

Light sweet crude for August delivery rose 12 cents to settle at $71.92 a barrel on the New York Mercantile Exchange, where gasoline futures settled almost 2 cents higher at $2.1985 a gallon.

With gasoline futures up roughly 20 cents over the past week, oil analyst Tom Kloza of the Wall, N.J.-based Oil Price Information Service believes pump prices are headed significantly higher over the next two months.

Brent crude futures on the ICE Futures exchange climbed 54 cents to $71.27 a barrel.
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Old 12-28-2017,
agrohimian agrohimian is offline
 
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The U.S. Coast Guard said the Calcasieu Ship Channel remains closed but that limited tug and barge traffic has resumed through an intercoastal waterway.

The channel has been off limits due to the spread of oil from a spill last week at the Citgo Petroleum Corp. facility in Lake Charles, La. It could remain closed through the end of the week, depending on how the cleanup proceeds, according to Coast Guard petty officer Chad Saylor.

Saylor said eight ships carrying crude oil are waiting to enter the channel. As a result, four refineries in the Lake Charles area that account for 3 percent of the nation's refining have reduced runs, albeit in tiny amounts.
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Old 12-29-2017,
AhmadHolle AhmadHolle is offline
 
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On Tuesday, Iran's Ayatollah Ali Khamenei said Iran does "not need" talks with the United States over its nuclear program because nothing would be gained, state television reported.

Washington has warned Iran that it could face political and economic sanctions before the U.N. Security Council if it doesn't stop its nuclear activities, which the United States and its European allies say is an attempt to produce nuclear weapons. Tehran says the uranium will be used only for a peaceful energy program.

Elsewhere, recent Chinese customs data showed the country's oil demand growth accelerated to 13.5 percent in May, as refiners boosted output and curbed exports ahead of a domestic price increase to meet peak summer demand. The rapid increase in car sales in China -- to 24.1 percent in May from a year earlier -- have also contributed to the rise in gasoline demand, Shum said.

In other Nymex trading, heating oil futures declined by 2.02 cents to settle at $1.9587 a gallon, while natural gas futures climbed 13.8 cents to finish at $6.107 per 1,000 cubic feet.
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  #5  
Old 12-30-2017,
AgustinMar AgustinMar is offline
 
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The fed clamping down is alot worse then oil going higher imo. Oil is still cheap in the usa and it is demand that is driving up the price of oil. If the fed continues rate hikes it will will kill autos and housing before it makes a dent into oil. My first brand new car in 1970 cost $2250 and gas was around .49 now a new car is 25k plus or minus and gas is 2.73 here. My house in ca. cost 39k now they are going for 700k. The poor people can still buy gas they just can't buy a new car or a house. Oil jobs pay well and they are hiring and the auto industry is paying off their help to hit the road. My son is a home builder and he knows what is coming if rates continue higher. In the 80's they took rates to around 15% and if you wanted to buy a car you were looking at 16-20 rates. Look at the price of clothes and shoes--a pair of tennis shoes 100-150 bucks but we americans just have to get some and not just 1 pair. Yea les hope they make the same mistake again and raise those rates but this time around americans will have a real problem as many will not know how to adjust. Oil is CHEAP but don't worry the u.s. govt. is after these guys and i think 9 out of the top 10 oil companys are foreign does that make any sense. Rate increases will not slow down oil. Oil is going higher because of demand in china india and asia. We had the same problem in the 1970's when oil went higher and the govt. said the world was running out of oil and if i remember right they said in 50 years. Well over 30 years have gone by and they did nothing and this time around what are they going to do. Same thing with health care same thing with social security. Why do you think the 2 riches people in the world when asked---why not give your money to the govt to help pay down the debt--they smiled and then replied we think we can do a better job of managing the money and doing many good things for the people. Maybe its time the govt. started taking care of americans and quit worrying about the rest of the world but that wont happen. We have many problems in america and nothing is getting done. Thats the way it is and thats the way it will be nothing going to change same oh same oh.
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  #6  
Old 12-30-2017,
Agrwisaf Agrwisaf is offline
 
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Traders also were anticipating the U.S. government's weekly petroleum supply report to be released later in the day.

"A fall in the gasoline inventories now will be a trigger for a bullish market," said Tetsu Emori, chief commodities strategist for Mitsui Bussan Futures in Tokyo. "The U.S. can't produce as much gasoline as they want to, and supply and demand is getting tighter."

Light, sweet crude for August delivery rose 17 cents to $72.09 a barrel in electronic trading on the New York Mercantile Exchange.

In London, Brent crude futures on the ICE Futures exchange climbed 44 cents to settle at $71.42 a barrel.

Gasoline futures rose 0.15 cents to $2.2000 a gallon after rising almost 2 cents on Tuesday as the shutdown of a key shipping channel near Lake Charles, La., disrupted crude oil supply to three nearby oil refineries and forced them to reduce fuel production.

The disruptions came days ahead of the Indendence Day holiday, when gasoline demand typically peaks as Americans hit the road.
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