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Our friends at Hard Assets Investor just conducted an interview with our commodities hero, Jim Rogers. Some quick hits from the interview: He’s still long sugar – but wouldn’t buy more right now Rogers is still bullish on oil over the next decade He continues to like China Not short Treasuries yet, but hopes to […]
Have you been piling into oil with the rest of the hot money? Might want to think about covering…or even reversing…your position. Oil expert Matt Badiali writes: The fact that oil didn’t leap up with delight at riots in Iran should make oil investors quake with fear. Iran produces about 5% of the world’s oil […]
Global oil producer BP reported that oil reserves fell for the first time in 10 years…from 1.261 trillion barrels to 1.258 trillion barrels. Enough reserves for about 42 years at current production rates, according to the company. You can read the full report here. Some quick highlights: Global oil consumption fell by 0.6% in 2008 […]
Last week, with oil pushing $60/barrel, CNBC asked the question: Is oil going to $300? On cue, crude fell this week, to close at $56. CNBC can have an uncanny ability to signal short term tops. Where is crude heading from here? Some folks believe the bullish supply/demand fundamentals that drove crude north of $140 […]
When CNBC starts asking if oil will hit $300 anytime soon, that probably means we’ve got a short term top in place. In fairness to Kevin Kerr – I think very highly of his commodity insights, and this interview is worth watching…his points are all good ones. However if you’re contrarian trading against CNBC […]
Brian Hunt, Editor in Chief at Stansberry Research, writes that oil service stocks are breaking out to 6-month highs, according to the chart of OIH, the ETF of major oil service companies. Flash Player 9 or higher is required to view the chartClick here to download Flash Player now View the full OIH chart at […]
It appears so – as you can see from the chart here, oil supply is projected to shrink by a significant amount each quarter of 2009: This chart is courtesy of Frank Holmes, who writes on his blog: It’s also important to point out that it is much cheaper and easier to cut supply than […]
Seems like the same old theme – when the stock market gets slammed, so does crude oil. Crude oil closed the day below $49/barrel. (Chart source: BarChart.com) When crude is up on days like today, that’s when we’ll take a hard look at going long crude. The only bright spots today? Gold, Silver, US […]
Jim Rogers told Bloomberg News earlier this week that he prefers oil over gold right now, because of the potential supply overhang of the IMF threat to sell it’s gold. “The IMF is trying to sell its gold,” Rogers, chairman of Singapore-based Rogers Holdings, said in an interview with Bloomberg Television. “The IMF is one […]
Marc Faber has certainly had some impressive calls over the past year. On July 10th, he predicted that deflation will rule the day in the short term. And as far back as March 29th, he voiced concern that massive deleveraging could drive down asset prices across the board. I’ve posted the latest video of Marc […]
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