US-Iran tension, Iraq in focus

US-Iran tension, Iraq in focus

Oil prices shot more than 2% higher on Monday, with Brent rising above $70 a barrel, after U.S. President Donald Trump issued a threat to impose sanctions on Iraq amid escalating tensions with Iran in the Middle East. Brent crude futures soared to a high of $70.27 a barrel at 0222 GMT, up $1.67, or 2.4%, from Friday’s settlement. … Read more…

Oil spike comes just in time for worst performing stocks of last decade

Oil spike comes just in time for worst performing stocks of last decade

Investors are pondering if the escalated U.S.-Iran tensions that are spiking oil prices could serve as the catalyst needed to turn around the most hated sector for the past 10 years. The S&P 500 energy sector was the worst performer of the last decade, up just a measly 5% versus the S&P 500’s 180% climb … Read more…

The U.S. oil industry shook up the world, and now it's shaking out

The U.S. oil industry shook up the world, and now it’s shaking out

Workers make a pipe connection on the Orion Perseus drilling rig, Webb County, Texas. Eddie Seal | Bloomberg | Getty Images The U.S. oil industry shook up the world energy order in the last decade, and now it has been going through a shakeout of its own that is expected to end in more bankruptcies … Read more…

Chevron's $11 billion writedown could hit the entire market

Chevron’s $11 billion writedown could hit the entire market

Chevron is writing down as much as $11 billion worth of assets, and it could cost the entire market. S&P Dow Jones Indices’ Howard Silverblatt said that depending on the final charge, it could reduce 2020’s overall S&P 500 earnings by $1.32 per share. Currently, the median EPS estimate for next year’s S&P 500 earnings … Read more…

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Bulls flood into oil producers, but their big bets may not pay off

Oil producers might be about to get a big-time energy boost, if traders in the options market have it right. The energy sector is in desperate need of some good news. It’s about to lock in its status as the worst-performing sector of the decade, and the XLE ETF that tracks the space has risen … Read more…