There is a sense of much relief that BP (NYSE:BP) is seeing success in their static kill attempt, causing stock prices to continue to rise. While energy stocks are on the decline.
BP's shares rose another 0.7 percent to $40.95, after the completion of the cementing of the Macondo well. After drawing a downgrade from J.P. Morgan, Transocean plummeted 3 percent to %56.34, after soaring 8 percent in the prior session.
Crude oil futures slide 1.2 percent to $80.98.
The Dow Jones Industrial Average dropped 0.7 percent. With Exxon and Chevron decreasing 0.8 percent and 0.6 percent.
The NYSE Arca Oil Index dropped 0.9 percent to 1,020. The Philadelphia Oil Service Index fell 1.4 percent to 188. The NYSE Arca Natural Gas Index also saw a decrease of 1.4 percent bringing it to 531.
Showing posts with label Crude Oil Futures. Show all posts
Showing posts with label Crude Oil Futures. Show all posts
Friday, August 6, 2010
Monday, August 2, 2010
Oil Stock Prices and Crude Oil Futures Soar: BP (NYSE:BP)
Energy stock prices have reached their highest level in two months and BP (NYSE:BP) shares soar. Crude oil futures have jumped to over $80 a barrel. After months of waiting, wondering, and anticipating a turn around in the stock market, maybe we are now headed in that direction.
The biggest increase was seen in the Philadelphia Oil Service Index gaining 2.4 percent to 186. The NYSE Arca Natural Gas Index increased by 1.8 percent to 525. While the NYSE Arca Oil Index broke through the four digit level rising 2.2 percent to 1,002. The Dow Jones Industrial Average added 135 points.
BP shares inclined 2 percent to $39.29. Chevron and Exxon also saw gains. Chevron rose 2.9 percent to $77.84 and Exxon increased by 2.66 percent reaching $61.26.
The biggest increase was seen in the Philadelphia Oil Service Index gaining 2.4 percent to 186. The NYSE Arca Natural Gas Index increased by 1.8 percent to 525. While the NYSE Arca Oil Index broke through the four digit level rising 2.2 percent to 1,002. The Dow Jones Industrial Average added 135 points.
BP shares inclined 2 percent to $39.29. Chevron and Exxon also saw gains. Chevron rose 2.9 percent to $77.84 and Exxon increased by 2.66 percent reaching $61.26.
Monday, June 14, 2010
Stock Prices, Crude Oil Futures: Exxon (NYSE:XOM) and Chevron (NYSE:CVX)
There was a jump in U.S. stock prices in crude oil futures, including Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), this is the biggest gain the S&P 500 has seen since March.
Exxon Mobil as well as Chevron both saw a significant rise. Exxon, the largest U.S. energy company, saw a 0.5 percent rise to $62.17 pushing crude oil to over $75 a barrel in New York. Chevron, the second largest U.S. energy company rose 0.4 percent to $74.33. The S&P 500 rose 0.8 percent to 1,099.82. The Dow Jones Industrial Average also saw an incline of 0.7 percent, or 74.37 points bringing it to 10,285.44. While the Nasdaq rose 18.44 points or 0.8 percent to 2,262.04.
David Katz, chief investment officer at Matrix Asset Advisors Incorporated in New York, stated, "the recent sell off was based on fear, but the U.S. economy is very much intact and it seems like the European economies are muddling through. On days when there are no concerns or fear mongering, the market should get a bounce like we saw last week and it continues today."
The New York Stock Exchange Arca Oil Index was gaining 1.1 percent and the Philadelphia Oil Service Sector Index adding 1 percent.
Exxon Mobil as well as Chevron both saw a significant rise. Exxon, the largest U.S. energy company, saw a 0.5 percent rise to $62.17 pushing crude oil to over $75 a barrel in New York. Chevron, the second largest U.S. energy company rose 0.4 percent to $74.33. The S&P 500 rose 0.8 percent to 1,099.82. The Dow Jones Industrial Average also saw an incline of 0.7 percent, or 74.37 points bringing it to 10,285.44. While the Nasdaq rose 18.44 points or 0.8 percent to 2,262.04.
David Katz, chief investment officer at Matrix Asset Advisors Incorporated in New York, stated, "the recent sell off was based on fear, but the U.S. economy is very much intact and it seems like the European economies are muddling through. On days when there are no concerns or fear mongering, the market should get a bounce like we saw last week and it continues today."
The New York Stock Exchange Arca Oil Index was gaining 1.1 percent and the Philadelphia Oil Service Sector Index adding 1 percent.
Friday, June 11, 2010
Current Stock Prices Dropping: Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX)
As we've watched many of the oil companies stock drop, Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) are also seeing current stock prices dropping today. The oil and gas industry as a whole is in a downtrend.
Exxon has seen a decline of 0.6 percent bringing it to $61.32. The Dow Jones Industrial Average is also down 31 points or 0.3 percent lower to 10,141. This downward trend is seen on the S&P 500 as well, losing 0.3 percent to 1,079. Seeing an increase is the Nasdaq Composite Index of 0.2 percent.
Crude oil futures fell below $74.00 a barrel causing a decline in energy stocks, as well as the Exxon decline Chevron also dropped 1 percent.
"People are seeing that the economy isn't booming, but it's also not getting worse," said Malcom Polly, chief investment officer at Stewart Capital Advisors. "That's why the confidence numbers are getting a little better. But actual spending still isn't strong enough where we can say that we'll get a traditional consumer led recovery."
Exxon has seen a decline of 0.6 percent bringing it to $61.32. The Dow Jones Industrial Average is also down 31 points or 0.3 percent lower to 10,141. This downward trend is seen on the S&P 500 as well, losing 0.3 percent to 1,079. Seeing an increase is the Nasdaq Composite Index of 0.2 percent.
Crude oil futures fell below $74.00 a barrel causing a decline in energy stocks, as well as the Exxon decline Chevron also dropped 1 percent.
"People are seeing that the economy isn't booming, but it's also not getting worse," said Malcom Polly, chief investment officer at Stewart Capital Advisors. "That's why the confidence numbers are getting a little better. But actual spending still isn't strong enough where we can say that we'll get a traditional consumer led recovery."
Thursday, June 3, 2010
Stocks Rise: Exxon (NYSE:XOM), Chevron (NYSE:CVX), BP (NYSE:BP), Anadarko (NYSE:APC) All Up
Energy stocks saw a jump today, including Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), BP (NYSE:BP), and Anadarko (NYSE:APC). Exxon rose 1.7 percent on Thursday, causing the Dow Jones Industrial Average to rise 52 points.
Chevron rose 1.5 percent. Also providing a rise is crude oil futures with the July front running contract up to $73.23, a 37 cent increase.
BP, who has lost a total market value of $68 million saw an increase. BP went to $38.33, gaining 1.8 percent. This gain could be because of BP's success in fully cutting the pipe. Now they can proceed with trying to put the cap on it. Although, it is not a clean cut which is looking like it will cause problems, potentially making the cap not fit snug. If this is the case oil would still be leaking and a secondary cap would have to be put over top of the first one.
BP is planning on funding a project to put sand barriers around the wetlands in Louisiana, this will cost BP $360 million dollars. Even though this won't fully stop the oil, as there is already a considerable amount that is continuing to devastate Louisiana, the hope of this endeavor is to keep out the worst effects from the oil.
Finally, there is Anadarko who rose 1.2 percent to $44.89. They seem quite confident because they haven't changed their projection for 2010 on capital spending plans or their production outlook.
Chevron rose 1.5 percent. Also providing a rise is crude oil futures with the July front running contract up to $73.23, a 37 cent increase.
BP, who has lost a total market value of $68 million saw an increase. BP went to $38.33, gaining 1.8 percent. This gain could be because of BP's success in fully cutting the pipe. Now they can proceed with trying to put the cap on it. Although, it is not a clean cut which is looking like it will cause problems, potentially making the cap not fit snug. If this is the case oil would still be leaking and a secondary cap would have to be put over top of the first one.
BP is planning on funding a project to put sand barriers around the wetlands in Louisiana, this will cost BP $360 million dollars. Even though this won't fully stop the oil, as there is already a considerable amount that is continuing to devastate Louisiana, the hope of this endeavor is to keep out the worst effects from the oil.
Finally, there is Anadarko who rose 1.2 percent to $44.89. They seem quite confident because they haven't changed their projection for 2010 on capital spending plans or their production outlook.
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