A renewed look at the oil market
Over the past 24 hours the oil price has been down almost $1 then back up, all on the back of larger inventory numbers and lower gasoline stockpiles. Chris Temple joins us with his outlook on if this higher trading rage is sustainable and the main factors he is watching for future oil prices.
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BISMARCK, N.D. (AP) — The Latest on the proposed four-state, $3.8 billion Dakota Access oil pipeline (all times local):
10:25 a.m.
A group that has helped lead protests against the Dakota Access oil pipeline says it’s expecting hundreds of people to turn out across the country to protest the Army’s approval of the project.
The Army said Tuesday it will allow the pipeline to cross under a Missouri River reservoir in North Dakota, the last big chunk of construction for the $3.8 billion project to move North Dakota oil to Illinois.
Notes From Underground: Things That Go Trump In the Night –
THE BLOOD BATH CONTINUES IN THE U.S. MAJOR OIL INDUSTRY
The carnage continues in the U.S. major oil industry as they sink further and further in the RED. The top three U.S. oil companies, whose profits were once the envy of the energy sector, are now forced to borrow money to pay dividends or capital expenditures. The financial situation at ExxonMobil, Chevron and ConocoPhillips has become so dreadful, their total long-term debt surged 25% in just the past year.
https://srsroccoreport.com/the-blood-bath-continues-in-the-u-s-major-oil-industry/
Volume of buying gold picking up in Asia.
Latest SGE Fix:
Gold $1251.60
Silver: $18.50
I disagree with Schiff, but he has a point of view.
http://usawatchdog.com/fed-junkies-continue-injecting-cocaine-heroin-in-system-peter-schiff/
My NUGT and ASM are rocking and rolling. But my SLV is not moving much and my USLV movement is a joke. My PALAF is painting another bull flag on the monthly. Bet get in while you can Doc!
Jason – I’ve enjoyed the action lately in both ASM and PALAF. Hope all is well sir.
Just a reminder on Paladin. They have a Investor Conference Call next Wed Feb 15th, that could ruffle a few tail-feathers…… I could cause it to break out/break down suddenly as they have put a few tidbits in recent press releases, so it should be impactful.
http://www.asx.com.au/asxpdf/20170203/pdf/43fs4m0b28npyw.pdf
I believe there are still details of the balance sheet restructuring being decided on at this meeting, (that were previously covered in this release from January):
http://www.asx.com.au/asxpdf/20170110/pdf/43f714q1pmg692.pdf
The major banks have to keep the oil price up as their major stocks holdings would be in jeopardy with no new stock market highs if oil gets too weak. I added more xop today as it looks like a bargain now.
Oil will top out at ~$55. Could go below $40.
Plaza Accord KILLED the Japanese Economy.
Mcalvany today:
https://mcalvanyweeklycommentary.com/wp-content/uploads/ica2017-0208.mp3