Will US Crude Oil Inventories Overshadow OPEC’s Output Cuts?
OPEC’s spare crude oil production capacity rose by 960,000 bpd (barrels per day) to 2.01 MMbpd in January 2017—compared to the previous month.
US gasoline demand rose for two consecutive weeks. The rise in gasoline demand is bullish for gasoline and crude oil (SCO) (VDE) (DIG) (BNO) prices.
The API released its weekly inventory report on February 22, 2017. It estimated that US gasoline inventories fell by 0.9 MMbbls from February 10–17, 2017.
On February 22, the API released its weekly crude oil inventory report. It reported that US crude oil inventories fell by 0.88 MMbbls from February 10–17.
April WTI (West Texas Intermediate) crude oil futures contracts rose 0.9% to $54.2 per barrel in electronic trade at 3:55 AM EST on February 23, 2017.
April WTI (West Texas Intermediate) crude oil (ERX) (SCO) (PXI) futures contracts fell 1.4% and settled at $53.59 per barrel on February 22, 2017.
Short interest in Crestwood Equity Partners (CEQP) as percentage of float ratio has come down to 1.1%.
Blackstone’s (BX) valuation stands at 9.5x on a one-year forward earnings basis, while its peers are trading at an average of 9.1x.
Blackstone Group (BX) stock has risen 16% over the past three months on improved performance across its subsegments, high growth in 4Q16, and rising holdings valuations.
Blackstone’s (BX) hedge funds generated 2.3% growth in its portfolio in 4Q16, as well as 6.7% growth over the past three quarters after its weak performance in 1Q16.
The Blackstone Group’s (BX) Credit division posted strong revenue growth to $258.6 million in 4Q16, compared to $22.7 million in 4Q15.
The Blackstone Group (BX) garnered realizations of $3.5 billion in 4Q16, reflecting a year-over-year rise in improved valuations.
The Blackstone Group (BX) has raised $16.9 billion toward its private equity offerings in 2016.
The Blackstone Group (BX), the world’s largest alternative asset manager, is expected to see earnings per share of $0.73 in 1Q17, compared to EPS of $0.68 in 4Q16 and $0.31 in 1Q16.
Salesforce’s scale in the software space Earlier in this series, we discussed market expectations for Salesforce’s (CRM) soon-to-be-announced fiscal 4Q17 earnings. We also discussed how Salesforce’s recent acquisition of Sequence…
Wall Street analysts’ views on Salesforce stock Earlier in this series, we discussed analysts’ expectations for Salesforce’s (CRM) soon-to-be-announced fiscal 4Q17 earnings. Considering its record of meeting or exceeding analysts’…
On a year-to-date basis, AngloGold Ashanti, Hecla Mining, Eldorado Gold, and Alacer Gold have seen reasonable rises of 25.8%, 23.1%, 14.3%, and 31.7%, respectively.
Mining companies that have high correlations with gold include B2Gold (BTG), Royal Gold (RGLD), Agnico Eagle Mines (AEM), and Primero Mining (PPP).
Precious metals mining stocks are known to closely track the performances of precious metals. Mining stocks often display more volatility than precious metals.
As the US dollar lost some ground on February 20, 2017, its weakening gave a push to gold prices. Gold rose ~0.2% over its previous trading day’s close.