Archive for 'ExxonMobil'

Zacks Reveals Best Oil Stock to Buy Now

The top dogs in the oil business, Chevron, BP and Exxon have been taking a beating lately with crude oil prices in the $40 per barrel range but no need to feel sorry for them, they haven’t switched to driving Yugo’s. Yeah, they’re still making money but it’s a bit tougher for the average investor to cash in with oil stocks, unless you can think a little differently. Dave Bartosiak has a better idea.

I get the question “What are the best oil stocks to buy?” all the time. Recently I’ve been asked that more and more as oil continues to drop. For some reason Americans love oil. Even more, they love oil stocks. We’ve been pounded over the head so much with “peak oil” theories and talk of oil going up forever that the thought of a new paradigm in oil prices is just beyond us.

Don’t think that the bottom for oil is in. There is new supply coming online daily, a weak Chinese currency isn’t going to help, and neither will changes on the demand side of the equation. If you’re looking to pick that bottom, good luck. The problem with trying to pick bottoms is you can only be right once, but you can be wrong a lot of times.

 


See full post from Dave

Zacks Crude Oil Highlights

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Oil Fades as Panic Subsides

RELATED TICKERS: Exxon Mobil Corporation (NYSE: XOM), ConocoPhillips (NYSE: COP), Chevron Corporation (NYSE: CVX) and SPDR S&P 500 ETF (NYSE: SPY).

Fear and panic have driven the oil market sharply higher over the last few days. Just last week crude oil was trading at $85 per barrel. Overnight, spot crude hit $103.00 per barrel. This massive spike was all on the back of unrest in the Middle East.

Libya is now in what appears to be a civil war but the biggest fear on Wall Street is whether or not it would spread to Saudi Arabia. There have been rumors, panic and much more but as of now, it seems it is subsiding. After hitting $103.00 overnight, oil has faded to the flat line on the day.

Oil stocks had jumped on the price spike in crude but are now falling sharply on its retreat. Exxon Mobil Corporation (NYSE: XOM) is trading at $86.04, -1.03 (-1.18%) while ConocoPhillips (NYSE: COP) is trading at $77.76, -0.81 (-1.03%). However, Chevron Corporation (NYSE: CVX) is bucking the trend, trading at $103.15, +0.88 (+0.86%).

The markets are moving on the flat line today, very muted considering the risks and swings in oil. The SPDR S&P 500 ETF (NYSE: SPY) is trading at $130.92, -0.10 (-0.08%).

The markets will remain focused on oil and the Middle East. In addition, key economic data was released today. At 8:30am ET Jobless Claims were reported to have dropped 22,000 to 391,000. This was a slightly bullish number for the markets. However, Durable Goods minus Transportation fell 3.6%. Then at 10:00am ET New Home Sales were reported down 12.6%.

The markets will begin to look at economic news again, especially with the Non Farm Payrolls number coming next Friday.

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US-Poland Business Council to Focus on Growing Opportunities

US-Poland Business Council to Focus on Growing Opportunities

The US-Poland Business Council announced today their plan to lead a foundational Business Mission to Poland from October 18th-19th, 2010 in the capital city of Warsaw.  The mission will mark the official launch of the US-Poland Business Council with the intent to further develop the bilateral economic and commercial relationship between the United States and Poland.  The Business Council was founded in the summer of 2010 by 17  US multinational companies including: The AES Corporation, The Boeing Company, Chevron, ConocoPhillips, Eli Lilly, ExxonMobil, Fluor Corporation, International Paper, Marathon Oil, Owens-Illinois, Inc., PHRMA, Raytheon Company, The Shaw Group Inc., Smithfield Foods, Inc., The Timken Company, US Steel and Westinghouse Electric Co.

The mission will focus on the growing opportunities and potential offered by conducting business in Poland and emphasize areas of mutual benefit and interest.  Meetings during the two day mission will include discussions of bilateral market access restrictions and European Commission regulations and policies.  The purpose of the meetings is to cultivate strategic alliances with key interlocutors in the Government of Poland, the US Embassy, as well as the private sector business associations based in Warsaw.  The business delegation will be received and hosted by Poland’s Deputy Prime Minister, Waldemar Pawlak, and Foreign Minister, Radoslaw Sikorski.

“Poland was the only country in the European Union to experience positive economic growth in the past year and is well positioned to take the helm of the Presidency of the European Council beginning in July 2011,” said Eric Stewart, President of the US-Poland Business Council.  “This trip provides a unique opportunity to learn directly from the Polish leadership their plans for guiding Europe through these tough economic times,” added Stewart.  “This mission will establish that the commercial relationship between the US and Poland is important for the mutual economic success of both countries.”

The US-Poland Business Council is a Washington, DC based non-profit organization that promotes commercial relations between the United States and Poland. The mission of the Council is to enhance US-Poland trade and investment, advance the US-Poland bilateral relationship, and educate the public about its importance.  To achieve its mission, the Council will sponsor policy conferences, briefing sessions and major events featuring senior US and Polish officials, academic and business leaders.