4 Dec

Is It Worth Risking Long Trades in Oil?

WRITTEN BY Rabindra Samanta

US crude oil

On November 24–December 1, 2017, US crude oil (USO) (USL) January futures fell 1%. On December 1, 2017, US crude oil January futures closed at $58.36 per barrel.

Is It Worth Risking Long Trades in Oil?

In the week ending December 1, 2017, the US oil rig count rose by two to 749. The rise was small, but the count increased for two consecutive weeks. The rise in the oil rig count could push US crude oil production to a new record. It could add more downside to oil prices. Higher US crude oil exports could also limit the upside in international oil prices.

OPEC’s output cut extension was at par with market expectations and it has already been discounted in oil prices. So, traders should stay cautious of their long bets on oil prices.

Natural gas

On November 24–December 1, natural gas January 2018 futures rose 5%. On December 1, 2017, natural gas January futures closed at $3.061 per MMBtu. Lately, the fall in the natural gas inventory level could have supported natural gas prices.

On November 24–December 1, 2017, the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) rose 1.5% and 2.9%. In the next part, we’ll discuss a few more equity indexes.

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19 Jun

Are Lower Oil Prices Weighing on ExxonMobil Stock?

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19 Jun

As Facebook Unveils Libra, MSFT and CRM Join a Blockchain Group

WRITTEN BY Mayur Sontakke, CFA, FRM

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Lyft (LYFT) and Uber Technologies (UBER) are pushing back against California legislation that would require them to recognize their drivers as employees rather than independent contractors. The legislation would require companies like Lyft to give their drivers the compensation and benefits spelled out under California’s employment regulations.

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