Friday, November 27, 2009

Oil falls below $73 on Dubai default worries creditors

oil and Gas Blog
Crude Oil prices sank to a 6 week lows , below $73 in New York on Friday amongst fears that Dubai could default the financial markets ,It is now reported that Dubai Debt May Be Higher Than $80 Billion, the dollar jumped as investors started selling commodities and moved to safer assets.

U.S. crude for January delivery was $73.70 a barrel on the London-based ICE Futures Europe exchange, but nearly 5 percent below Wednesday's settlement. There was no settlement price on Thursday because U.S. markets were closed for Thanksgiving.
Source : Presse agencies

Tuesday, November 24, 2009

Bank of America Hikes S&P, Oil Forecasts

Bank of America Merrill Lynch (BAC) hiked its 12-month S&P 500 target as well as its outlook on oil prices today. BofA Merrill boosted its S&P outlook by 75 points, to 1,275.




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Monday, November 23, 2009

Cheap Oil Stocks - Global Energy Fund

Tim Guinness, portfolio manager for the Guinness Atkinson Global Energy Fund, says oil prices will remain range bound, European oil producers are cheap and natural gas stocks are a smart alternative.





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