Oil hit with strong selling in risk off trading session

So much for the Spanish Bank bailout rally that began on Sunday night and abruptly ended by mid morning on Monday during US trading hours. There seems to be very little confidence in the ability of the EU to stem and solve all of the growing sovereign debt problems. The Spanish bailout program left a lot of details yet to be determined which made market participants very nervous and uncertain as

Parkland Fuel Downgraded By CIBC To 'Sector Performer' On Valuation

CIBC World Markets Inc. analyst Kevin Chiang downgraded his rating on shares of Parkland Fuel Corp. (TSE:PKI) to "Sector Performer" from "Sector Outperformer" due to valuation.The brokerage maintained its $15.00 price target, which reflects a total return of 13% (including its $1.02 annual dividend), and is in-line with its "Sector Performer" rating.While PKI has improved its transparency, Chiang

NG drifting lower

Nat Gas never got caught up in the global Spanish bailout rally nor is it currently getting hit with the sell-off as the rally faded this morning. Nat Gas is still reeling after last week's 6 BCF greater than the expected injection report. Not much has changed in the Nat Gas market over the last week or so. We are now in the summer cooling season with the eastern half of the country to experience

Plains All American: Pipeline Potential

Based in Houston, Plains All American Pipeline (PAA) is a publicly traded limited partnership that transports, stores and markets crude oil and other refined products, including liquefied natural gas. Its diversified portfolio plays a vital role in the movement of U.S. and Canadian energy supplies.The partnership transports more than 3 million barrels of crude and other refined products a day

Another Sign Oil Prices Don't Reflect Reality

Why are crude oil futures for delivery three years from now $30 cheaper, or almost $1 a gallon less, than current oil prices?More from Daniel Dicker, Senior Contributor OPEC Can't Get Along, And That's GoodWall Street Blew It: The Real Tragedy of the FB IPODicker: Look Offshore for Real Value Real Money Previews Rally Runs Its Course How long can the rip-your-face-apart rally continue to unfold?

US quarterly oil output hits highest level in 14 yrs

The oil boom in North Dakota and Texas has helped push U.S. quarterly crude output over 6 million barrels per day for the first time in 14 years, the government said on Friday.View All Market CommentaryDisclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy.Neither the information nor any opinion expressed

Morning Natural Gas Market Report

July natural gas prices registered a lower low in early morning action and fell to their lowest level since April 27. Yesterdays EIA storage report showed a slightly larger than expected injection of 62 bcf and brought total storage to 2,877 bcf or 31.4% above the 5 year average.Over the last four weeks natural gas storage has increased 271 bcf. While the latest weather maps continue to show a

A Primer on Post-2008 Risk Management

Perusing The New York Times mobile site, as I do on infrequent mornings when I'm not by my hard copy, I came across this piece on risk, asset diversity and retirement by Tara Siegel Bernard. The article tried to use the recent JPMorgan Chase (JPM) $3 billion trading loss as an example of mistaken risk management that common investors might learn from. On that premise alone, the piece was silly.

Saudi Oil Moves: A Drop in the Bucket?

Saudi Arabia is doing everything it can to cool an overheated crude oil market. But the verdict has yet to come in on whether the Saudis will be able single-handedly to drop energy and gas prices for everyone. More from Daniel Dicker, Senior Contributor OPEC Can't Get Along, And That's GoodWall Street Blew It: The Real Tragedy of the FB IPODicker: Look Offshore for Real Value Real Money Previews

Morning Heating Oil Market Report

July heating oil prices traded lower in overnight action and fell to a fresh three session low in the process. Further declines in Brent crude oil and a risk-off environment in outside markets seemed to put added pressure on heating oil prices this morning.It is also possible that reports that China is planning to cut diesel prices this weekend by nearly 6.0% presents an added negative for the

OPEC Can't Get Along, And That's Good

At the upcoming OPEC meeting in Vienna on June 14, members will have a lot to talk about. Oil prices have been dropping like a stone and not only because of the bad economic numbers coming out of Europe and China. There's been also been dissent among the OPEC members, particularly Saudi Arabia and Iran. More on Investing Natural Gas Will Dictate Oil Prices, Not Iranian Sanctions or OPECMicrosoft

U.S. dry natural gas production growth levels off following decline in natural gas prices

Sources: U.S. Energy Information Administration, Natural Gas Monthly. Henry Hub spot natural gas price (monthly average), based on Thomson ReutersU.S. dry natural gas production has increased since late 2005 due mainly to rapid growth in production from shale gas resources. However, there have been two notable instances (see red ovals in the chart) in the last seven years when natural gas

Dicker: Look Offshore for Real Value

I've been watching the late-spring market swoon through the prism of oil prices. Recently, I have written that oil price action, as bad as it's been, has been telling me to slowly start coming out of cash and into energy stocks. But where exactly? One place to look for some real value is with the offshore drilling companies.From a very wide, macro view, offshore drilling represents a great place

Transocean Jumps After Court Ruling: Now What?

A big, favorable legal decision was handed to Transocean(RIG) Thursday afternoon, causing shares to briefly hit $50 this morning, a level they haven't seen since November of last year and capping a nearly 30% rally from their lows under $40 in December of last year. But of course, the question for shareholders is, now what? For those who have already caught some of that 30% gain, now would be a

Marathon Oil: Strong Production Growth In US Shale Plays To Boost Earnings, Valuation

Marathon Oil Corp. (NYSE:MRO) is successfully progressing its repositioning strategy by increasing its investment focus on unconventional oil plays in North America with attractive returns, low risk, and long life reserves.Marathon Oil is an energy company engaged globally in oil and gas exploration and production (E&P). The company has more than 1.6 bboe of proved reserve and approximately 400

Bearish Action In Research In Motion Weeklies As Shares Extend Slide

Research in Motion, Ltd. (RIMM)– Thestruggling mobile phone maker's shares are in the single-digits today,down 5.75% this afternoon to $9.67, trading at their lowest level innearly a decade. Put buying and call selling in the weekly optionssuggests there is further pain ahead for RIMM shareholders. Traderspositioning to profit from further weakness in the price of theunderlying snapped up more

Hollyfrontier (HFC) Upgraded To 'Buy' By UBS On Compelling Valuation

HollyFrontier Corp. (NYSE:HFC) shares were upgraded to "Buy" from "Neutral" by UBS Securities following a 11 percent sell-off in the shares since mid-February.The brokerage, which has a price target of $35.00 on the stock, sees moderate upside to shares from the current level and views HFC's share holder yield and cash position as defensive elements to shares.The Dallas, Texas-based petroleum

U.S. Stocks Slide Ahead Of Jobs Data; Hot Stocks: JOY, FB, TIVO, CIEN, FFIV, TLB, END, LGF

U.S. stocks ended on a lower note ahead of the key government non-farm payrolls report due Friday, even as a slew of tepid economic readings dented sentiment.S&P 500 Index lost 0.23 percent to finish at 1,310.33. The Dow Jones Industrial Average shed 0.21 percent to end at 12,394.13. The Nasdaq Composite Index dropped 0.35 percent to close at 2,827.34.On the US economic front, a data showed that

Brean Murray Starts Penn Virginia (PVA) At 'Buy', $10 PT

Brean Murray, Carret & Co. analyst Raymond Deacon initiated coverage of Penn Virginia Corp. (NYSE:PVA) with a "Buy" rating and $10 price target, equal to 75% of his risked net asset value that assumes mid-cycle NYMEX benchmark prices of $85/Bbl crude oil and $4.00/MMBtu natural gas.Deacon said proceeds from the company's anticipated Granite Wash divestiture should shift market focus from

U.S. Stocks Closed Sharply Lower As Spain Weighs; Hot Stocks: CNC, DMND, OCR, ES, ZAZA, INMD, NOIZ

U.S. stocks closed on a sharply lower note amid concerns whether Europe's bailout plan for Spain's ailing banks will ease the country's debt crisis.S&P 500 Index shed 1.26 percent to finish at 1,308.93. The Dow Jones Industrial Average dropped 1.14 percent to end at 12,411.23. The Nasdaq Composite Index tumbled 1.70 percent to close at 2,809.73.With no U.S. economic data scheduled for the day and

Saudi cuts oil output in May to 9.8 mln bpd

Top oil exporter Saudi Arabia pumped 9.8 million barrels per day (bpd) of crude oil in May, cutting output by 300,000 bpd from the month before, an industry source said on Saturday.View All Market CommentaryDisclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion

China May commodities imports beat expectations; crude at record

China's imports of key commodities in May confounded expectations of a fall, with crude oil shipments at a record high and both copper and iron ore imports unexpectedly rising more than 10 percent from a month ago, data showed on Sunday.Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the

Recap Energy Market Report

July crude oil traded in negative territory throughout the session but managed to recoup a large portion of its early deficit by the close. Early weakness in the market appeared to come from uncertainty surrounding the European debt situation and ideas that crude oil supplies could be running ahead of demand.Into the early morning low, July crude oil prices were off more than $5.00 from

Morning Gasoline Market Report

July RBOB prices traded significantly lower in overnight and initial morning action, weighed down by a weak macroeconomic tone. Some traders also pointed to gains in the US dollar as another force pressuring prices lower.Meanwhile, there did seem to be a level of demand coming into the US gasoline market, with increased refiner-buying in the wake of recent outages.Disclaimer: The information in

U.S. Futures Slide On Global Worries; Hot Stocks: CHK, PRGS, FLT, MOH, MCD, BBY

U.S. stock index futures pointed to a lower open on the Wall Street amid disappointment over lack of signals from central bankers for further stimulus measures and weak European data.Mini Dow Industrial Average futures shed 52.00 points to 12,354.00. The Nasdaq Futures dipped 5.50 points to 2,525.00. Standard and Poor's 500 futures lost 3.90 points to 1,306.10.On the economic front, U.S. trade

iStock Of The Day-Halliburton Co (HAL)

Natural gas has been one of the more interesting markets over the last few years, where prices have been absolutely crushed after falling from an all-time high above $14 in the summer of 2008 to a recent long-term low below $2. That bearish movement has left a lot of people scratching their heads, but really, it's just a simple matter of supply.Unlike crude, the United States has absolutely

CIBC Upgrades Parex Resources To 'Sector Outperformer' In Anticipation Of Positive Exploration Well Results

CIBC World Markets Inc. upgraded its rating on shares of Parex Resources Inc. (TSE:PXT) to "Sector Outperformer" from "Sector Performer" on expectations of positive news flow and an incorporation of additional production volumes in its model.The Canadian oil and natural gas explorer issued an operational update ahead of its AGM on May 23. After two negative releases and two share price

Recap Energy Market Report

July crude oil traded in negative territory throughout the session but managed to recoup a large portion of its early deficit by the close. Early weakness in the market appeared to come from uncertainty surrounding the European debt situation and ideas that crude oil supplies could be running ahead of demand.Into the early morning low, July crude oil prices were off more than $5.00 from

Oil higher on Spanish Bank bailout

The week before last the market sentiment was bearish with little short term hope for any resolutions in Europe nor improvement in the global economy. Last week the market sentiment stated to change as talk of a Spanish bank bailout emerged. In addition China lowered short term interest rates to jump start its economy while talk of more stimulus in the form of another QE3 in the US dominated the

Petromagdalena Energy Downgraded To 'Sector Performer' By CIBC, PT Cut

CIBC World Markets Inc. analyst Ian Macqueen downgraded his rating on shares of  PetroMagdalena Energy Corp. (CVE:PMD) to "Sector Performer" from "Sector Outperformer" and lowered his price target to C$1.60 from C$2.Pacific Rubiales Energy (TSE:PRE) has offered to acquire all of the outstanding common shares of PetroMagdalena Energy for C$1.60/share in cash. This represents a about 38% premium on

Are We Headed Toward $5-a-Gallon Gas?

Here we go again. With gas prices spiking so early in the new year, it's easy to predict that the U.S. will see $4-a-gallon gas sometime this summer. I would even put the chances of $5 gasoline at one in three. More from Daniel Dicker, Senior Contributor OPEC Can't Get Along, And That's GoodWall Street Blew It: The Real Tragedy of the FB IPODicker: Look Offshore for Real Value Real Money Previews