Shares of Transocean (NYSE:RIG), Endeavour International (NYSE:END), Rosetta Resources (NASDAQ:ROSE), Bolt Technology Corp. (NASDAQ:BOLT) and Abraxas Petroleum Corp. (NASDAQ:AXAS) were trading mixed today as oil prices were trading down in the session.
Crude-oil futures were trading down $0.79 to $97.65 a barrel on the New York Mercantile Exchange.
U. S. crude oil prices also gained some back from earlier losses spurred by comments from the German Bundesbank, which said growth in Europe's largest economy will probably slow down.
Shares of oil companies like BP (NYSE:BP), Anadarko (NYSE:APC), Transocean and Cameron International (NYSE:CAM), all of which were connected to the Gulf oil spill, were all trading up on news of the settlement between BP and Macondo Well partner Mitsui (OTC:MITSY).
Transocean (RIG) was trading at $70.12, gaining $1.06, or 1.53 percent, as of 2:10 PM EDT. Abraxas Petroleum Corp. (AXAS) was at $4.10, down $0.05, or 1.20 percent. Bolt Technology Corp. (BOLT) was trading at $13.88, falling $0.03, or 0.22 percent. Rosetta Resources (ROSE) was at $45.81, dropping $0.15, or 0.33 percent. Endeavour International (END) was trading at $12.68, falling $0.07, or 0.55 percent.
Friday, May 20, 2011
Transocean (RIG) (END) (ROSE) (BOLT) (AXAS) Trading Mixed
Brigham (BEXP) (BOLT) (FTK) (STR) (PTR) Trade Mixed as Energy Falls
Shares of Brigham Exploration (NASDAQ:BEXP), Bolt Technology Corp. (NASDAQ:BOLT), Flotek Industries, Inc. (NYSE:FTK), Questar Corporation (NYSE:STR) and PetroChina (NYSE:PTR) traded mixed on Thursday as oil and gas were down on the day.
Benchmark crude for June delivery fell $1.63 to settle at $98.93 per barrel on the New York Mercantile Exchange.
Brent crude oil for July delivery was down 23 cents, or 0.2 percent, to $112.07.
June, heating oil fell 1.12 cents to settle at $2.8947 a gallon, gasoline dropped 2.95 cents to $2.926 a gallon and natural gas fell 10.5 cents to $4.161 per 1,000 cubic feet.
Linn Energy, LLC (LINE) closed Thursday at $38.35, gaining $0.33, or 0.87 percent. Lufkin Industries, Inc. (LUFK) ended the session at $85.06, up $1.81, or 2.17 percent.
Brigham Exploration (BEXP) closed Thursday at $29.03, gaining $0.06, or 0.21 percent. Flotek Industries, Inc. (FTK) closed at $8.29, gaining $0.11, or 1.34 percent.
Thursday, May 19, 2011
Bolt (BOLT) (FTI) (NOV) (DRQ) (FTK) Trade Up on Weak U.S. Dollar
Shares of oil companies Bolt Technology Corp. (NASDAQ:BOLT), FMC Technologies, Inc. (NYSE:FTI), National-Oilwell Varco, Inc. (NYSE:NOV), Dril-Quip, Inc. (NYSE:DRQ) and Flotek Industries, Inc. (NYSE:FTK) traded higher Wednesday after a report from the Energy Information Administration saying gas inventory was up less than expected and oil inventory was flat.
Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.
Retail gasoline prices continued to fall, dropping almost 2 cents on Wednesday for a national average of $3.926 a gallon. Gasoline demand continues to fall in wake of high prices at the pump.
Heating oil for June increased 6.08 cents to settle at $2.9059 a gallon and gasoline futures jumped 3.62 cents to settle at $2.9555 a gallon. Natural gas gained 2 cents at $4.266 per 1,000 cubic feet.
Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.
The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in oil prices going up, as well as other commodity prices as well.
The euro traded at $1.4233, strengthening after falling to $1.4193 and up slightly from its $1.4219 close on Tuesday.
Traders bought commodities, including oil, on the weaker greenback.
National-Oilwell Varco, Inc. (NOV) closed Wednesday at $67.74, gaining $2.34, or 3.58 percent.
Monday, May 16, 2011
Valero (VLO) (MRO) (BOLT) (VQ) (BRY) Trade Mixed as Oil Prices Rebounded
Shares of Valero Energy (NYSE:VLO), Marathon Oil (NYSE:MRO), Bolt Technology Corp. (NASDAQ:BOLT), Venoco Inc. (NYSE:VQ) and Berry Petroleum (NYSE:BRY) traded mixed even as oil prices closed Friday in positive territory.
On the New York Mercantile Exchange, crude for June delivery on Friday settled at $99.65 a barrel, up 68 cents, or 0.69 percent, after trading in a range of $97.09 to $100.70.
For the week, front-month crude climbed $2.47, or 2.5 percent.
ICE Brent for June delivery settled at $113.83 a barrel, up 85 cents, or 0.75 percent, after trading in a range of $111.72 to $114.92. The Brent crude contract for July delivery was at 66 cents, or 0.6 percent higher on Friday, at $112.99. Last week, Brent crude jumped $4.70, or 4.3 percent.
The U.S. dollar index was up 0.8 percent higher at $75.72 as the euro was down 1 percent against the dollar at $1.411. On Friday, European officials said that Greece, Ireland and Portugal's sovereign debt problems may be worse than previously believed.
NYMEX June gasoline settled at $3.0744 a gallon, up 1.05 cents, or 0.34 percent, after trading in a range of $3.0342 to $3.1388.
For the week, front-month RBOB fell 1.57 cents, or 0.5 percent.
NYMEX June heating oil closed at $2.9422 a gallon, rising 2.85 cents, or 1 percent.
Front-month heating oil for last week was up 9.65 cents.
Valero Energy (VLO) closed Friday at $26.68, gaining $0.15, or 0.57 percent.
Wednesday, May 11, 2011
BP (BP) (PTR) (BOLT) (OIS) (GST) Trade Positive as Oil, Gas Rise
Crude oil, natural gas and gasoline prices jumped Tuesday, pushing up the share prices of PetroChina (NYSE:PTR), Bolt Technology Corp. (NASDAQ:BOLT), Oil States Intl., Inc. (NYSE:OIS), Gastar Exploration Ltd (AMEX:GST) and BP (NYSE:BP).
Benchmark crude for May delivery rose $1.33 to settle at $103.88 a barrel on the New York Mercantile Exchange.
Heating oil jumped 3.94 cents to settle at $3.0012 a gallon. Gasoline futures climbed 10.13 cents to settle at $3.3797 a gallon, while natural gas for June delivery increased 8.7 cents to settle at $4.303 per 1,000 cubic feet.
Uncertainty remains as to the effects of the flooding along the Mississippi River could have on regional refinery operations, which could slow down gasoline production and put upward pressure on prices.
Gastar Exploration Ltd (AMEX:GST) closed at $4.11, up $0.13, or 3.27 percent.
Tuesday, May 10, 2011
Bolt (BOLT) (PETD) (HK) (PTR) (RIG) Trade Up as Oil Prices Rebound
Most oil and related companies performed strong Monday, as Bolt Technology Corp. (NASDAQ:BOLT), PDC Energy (NASDAQ:PETD), Petrohawk Energy Corp. (NYSE:HK), PetroChina (NYSE:PTR) and Transocean (NYSE:RIG) traded up as the price of oil rebounded.
Gastar was the only one of the list above to close down Monday.
Crude oil for June delivery climbed $5.37 to settle at $102.55 a barrel on the New York Mercantile Exchange, the largest one-day boost since February 22.
Brent crude for June settlement jumped $6.77, or 6.2 percent, to $115.90 a barrel on the London-based ICE Futures Europe exchange.
Wholesale gasoline prices soared 5 percent on Monday to $3.20 a gallon on fears that refineries in Mississippi may have to shut down because of the Mississippi River flooding.
The average U.S. price of a gallon of regular gasoline Monday fell by a penny to $3.96, according to AAA.
Immediate delivery futures of Texas crude oil rose $5.53 to $102.71 a barrel. Natural gas was up 0.06 cents to $4.17 per mbtu, while gasoline prices fell 20.17 cents to 329.18 cents a gallon.
PetroChina (PTR) closed Monday at $136.28, climbing $1.39, or 1.03 percent.
Monday, May 9, 2011
Shares of (EGY) (OAS) (CXPO) (BOLT) (CAM) Trade Mixed as Oil Closed Down 15% Last Week
Companies exposed to oil and the industry traded mixed to end the week, as oil prices plummeted 15 percent last week, taking Vaalco Energy (NYSE:EGY), Oasis Petroleum (NYSE:OAS), Crimson Exploration (NASDAQ:CXPO), Bolt Technology Corp. (NASDAQ:BOLT), Cameron International (NYSE:CAM), and others, down with it.
Light, sweet crude oil for June delivery on the New York Mercantile Exchange dropped $2.62 to settle at $97.18 a barrel, matching the eight-week low of March 15. The U.S. Oil Fund (USO) closed down 1.1 percent on Friday.
For the week, the June oil futures contract fell 14.7 percent to $113.93.
Light, sweet crude for June delivery fell $2.62, or 2.6%, to close at $97.18 a barrel on the New York Mercantile Exchange.
In London, Brent crude finished the day off $1.67 at $109.13 per barrel on the ICE Futures exchange.
Republicans went on the offensive against higher oil and gas prices by passing a bill to hasten the leasing process dragging on in the Gulf of Mexico as the Obama administration drag their feet on taking action. The bill would also require leasing to be allowed off the coast of Virginia.
According to Rep. Michael Burgess (R-Texas), the bill helped push down the price of oil as it sent a message to the market they're serious about the future supply.
All Obama has done so far has obsessed on the fantasy of green, clean or so-called alternative energy; a dubious matter at best, and at worst, ignoring what they country needs now and is available to it.
In other Nymex trading for June contracts, heating oil fell 4.12 cents to $2.8457 a U.S. gallon and gasoline futures were down 0.53 cents to $3.0901 a U.S. gallon. Natural gas fell 3.4 cents to $4.297 per 1,000 cubic feet.
Petrobras (PBR) closed Friday at $34.35, dropping $0.13, or 0.38 percent.
Friday, May 6, 2011
Brigham (BEXP) (BOLT) (GEOI) (PTR) (XOM) Pressured as Oil Tumbles
Shares of oil and oil-related companies Brigham Exploration (NASDAQ:BEXP), Bolt Technology Corp. (NASDAQ:BOLT), GeoResources (NASDAQ:GEOI), PetroChina (NYSE:PTR) and Exxon Mobil (NYSE:XOM) were pressured Thursday as crude for June delivery dropped below the $100 a barrel mark.
Crude oil for June delivery was down $9.44, or 8.6 percent, to $99.80 a barrel on the New York Mercantile Exchange. The price has fallen 12 percent so far this week, declining every day of the week. Crude has soared 25 percent over the last year.
Gasoline for May delivery was down 22.71 cents, or 6.8 percent, to $3.0954 a gallon on the Nymex, the lowest settlement in five weeks. Gasoline has jumped 39 percent in a year.
Averaged across the nation, regular gasoline at the pump increased 0.3 cent to $3.985 a gallon on Wednesday, according to the website of AAA. That's highest price of gasoline since July 24, 2008.
Heating oil for May delivery was down 25.61 cents, or 8.1 percent, to $2.8869 a gallon on the Nymex. Heating oil has climbed 32 percent over the last year.
The New York Mercantile Exchange reported that oil futures settled at $99.80, down $9.44 or 8.6 percent on Thursday.
Government figures show gasoline demand in America has dropped about 2 percent over the last month, which added to rises in inventory, should push gasoline prices down again.
Brigham Exploration (BEXP) closed Thursday at $27.59, dropping $0.91, or 3.19 percent.
Thursday, May 5, 2011
Anadarko (APC) (WTI) (BOLT) (DRQ) (LUFK) Down on Slowing Oil Demand
Oil companies and other industry-related companies W&T Offshore (NYSE:WTI), Bolt Technology Corp. (NASDAQ:BOLT), Dril-Quip, Inc. (NYSE:DRQ), Lufkin Industries, Inc. (NASDAQ:LUFK) and Anadarko (NYSE:APC) all closed down Wednesday as oil prices took a breather.
Oil prices dropped after a government report showed that inventories are growing as demand softens in the U.S. Benchmark crude for June delivery was down $1.81 to settle at $109.24 a barrel on the New York Mercantile Exchange.
In other NYMEX trading for June contracts, heating oil fell 4.78 cents to settle at $3.143 a gallon, gasoline futures lost 0.69 cent to $3.3225 a gallon and natural gas was lower by 9.4 cents to $4.644 per 1,000 cubic feet.
The U.S. dollar index shrunk 0.15 percent to $73.01, down from Tuesday's 73.127 close. The dollar index has fallen 7.5 percent so far in 2011.
Anadarko (APC) closed Wednesday at $76.08, falling $2.43, or 3.10 percent.
Wednesday, May 4, 2011
Marathon (MRO) (BOLT) (CLR) (CRZO) (OAS) Drop as Oil Prices Fall
Decreasing demand for fuel has pushed down oil inventories and the price of oil, putting pressure on Marathon Oil (NYSE:MRO), Bolt Technology Corp. (NASDAQ:BOLT), Continental Resources (NYSE:CLR), Carrizo Oil & Gas (NASDAQ:CRZO) and Oasis Petroleum (NYSE:OAS).
Light, sweet crude for June delivery settled down $2.47, or 2.2%, at $111.05 a barrel on the New York Mercantile Exchange. London Brent crude for June fell $2.67 to settle at $122.45 a barrel.
Front-month June reformulated gasoline blendstock, or RBOB, settled down $1.85 cents, or 0.6%, at $3.3294 a gallon. June heating oil lost 6.13 cents, or 1.9%, to settle at $3.1908 a gallon.
Gasoline prices on average across America have jumped to just under $4.00 a gallon, rising to $3.97 a gallon for regular gas, according to AAA.
Silver is considered the key catalyst for downward pressure on oil prices and trading, as it has become a proxy to some for risk appetite among commodity traders.
After selling out of silver commodity traders followed up with divesting of positions in oil as well.
Even so, it appears the slight strengthening of the U.S dollar played a bit role Tuesday as well.
Oasis Petroleum (OAS) closed Tuesday at $29.12, falling $1.05, or 3.48 percent.
Tuesday, May 3, 2011
Exco (XCO) (BOLT) (CXPO) (END) (MRO) Trade Mixed on Volatile Energy Day
Shares of Exco Resources Inc. (NYSE:XCO), Bolt Technology Corp. (NASDAQ:BOLT), Crimson Exploration (NASDAQ:CXPO), Endeavour International (NYSE:END) and Marathon Oil (NYSE:MRO) closed Mixed on the uncertainty following the death of Osama bin Laden.
Crude futures settled lower Monday after the death of Osama bin Laden stirred up oil markets, as traders attempted to measure the impact of the event on the stability in the Middle East.
Light, sweet crude for June delivery settled 41 cents, or 0.4%, lower at $113.52 a barrel on the New York Mercantile Exchange, in a volatile session that saw both two-and-a-half year highs near $115 a barrel and a decline to $110.82 a barrel.
Brent crude on the ICE futures exchange closed 77 cents lower at $125.12 a barrel.
Front-month June reformulated gasoline blendstock, or RBOB, settled 5.05 cents, or 1.5 percent down at $3.3479 a gallon. June heating oil settled 2.37 cents, or 0.7 percent lower at $3.2521 a gallon.
Exco Resources Inc. closed Monday at $20.86, dropping $0.09, or 0.43 percent.
Monday, May 2, 2011
Apache (APA) (STR) (OAS) (PXP) (BOLT) Trade Mixed on Gas, Oil Price Jumps
Apache Corp (NYSE:APA), Questar Corporation (NYSE:STR), Oasis Petroleum (NYSE:OAS), Plains Exploration & Production (NYSE:PXP) and Bolt Technology Corp. (NASDAQ:BOLT) close mixed Friday as oil and gasoline prices jump again.
Nymex light, sweet crude oil for June delivery rose $1.07 a barrel, to $113.93 a barrel. That's the highest close in two-a-half-years.
On Nymex, reformulated gasoline blendstock futures for May delivery expired at $3.4648 a gallon, up 3.5 cents Friday. That is the highest level since July 14, 2008. Prices have soared 23.17 cents, or 7.2 percent, over the past week.
AAA Daily Fuel Gauge Report said the nationwide average price of regular gasoline was $3.909 a gallon Friday, up 6.1 cents from last week.
May heating oil expired at $3.2558 a gallon, up 2.42 cents, and the highest since April 8.
Tightening inventory and higher gasoline prices continue to push oil prices up. Another major factor, as it is with most commodities, is the ongoing collapse of the U.S. dollar. That will continue based on Federal Reserve chairman Ben Bernanke's comments he's not going to raise interest rates.
Apache closed Friday at $133.37, gaining $3.37, or 2.59 percent.
Friday, April 29, 2011
Bolt (BOLT) (SWN) (EPD) (LINE) Close Up as Oil, Gas Rise
Southwestern Energy (NYSE:SWN), Enterprise Products Partners (NYSE:EPD), Linn Energy, LLC (NASDAQ:LINE) and Bolt Technology Corp. (NASDAQ:BOLT) closed up as oil, gasoline and natural gas moved up in price Thursday.
Oil settled higher in volatile trading Thursday, pushed up by a collapsing U.S. dollar. After soaring to close to $114 a barrel, West Texas Intermediate crude settled up 10 cents, at $112.86, in futures trading in New York.
Brent North Sea crude oil fell 11 cents to settle at $125.02 a barrel on the Ice Futures exchange.
In futures trading on the New York Mercantile Exchange, natural gas climbed 15.7 cents to settle at $4.63 per million British thermal units.
Gasoline for May delivery jumped 1.04 cents, or 0.3 percent, to $3.4298 a gallon, the highest settlement since July 14, 2008. Futures have risen 47 percent in the past year.
The Dollar Index fell to the lowest level since July 31, 2008. The index was down 0.5 percent to 73.139, its eighth straight daily decline.
Thursday, April 28, 2011
Cameron International (CAM) Misses on Earnings
Cameron International Corporation (NYSE:CAM) missed on its first quarter profits, as the company was only able to generate $109.5 million, or 43 cents a share, against last year's $120.4 million, or 48 cents a share.
This was far below the average analyst estimate of 56 cents a share they were looking for.
Revenue for the quarter rose to $1.5 billion over last year in the same quarter, a gain of 11.5 percent.
Rising costs were the major factor in the declining performance of the oil equipment manufacturer.
Major competitors of Cameron include Bolt Technology Corp. (NASDAQ:BOLT), FMC Technologies, Inc. (NYSE:FTI), T-3 Energy Services, Inc. (NASDAQ:TTES), Halliburton Company (NYSE:HAL), National-Oilwell Varco, Inc. (NYSE:NOV), Dril-Quip, Inc. (NYSE:DRQ), Flotek Industries, Inc. (NYSE:FTK), Baker Hughes Incorporated (NYSE:BHI), Lufkin Industries, Inc. (NASDAQ:LUFK) and Oil States Intl., Inc. (NYSE:OIS).
Cameron was trading at $52.85, falling $1.59, or 2.92 percent, as of 12:16 PM EDT.