BMO ASSET MANAGEMENT INC COVERED CALL ENERGY ETF (ZWEN.T)
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BMO ASSET MANAGEMENT INC COVERED CALL ENERGY ETF (ZWEN.T) News
Tanker freight rates have surged to 4.5 times the baseline benchmark, with the war costs of Middle East conflicts being factored into the price of every barrel of crude oil.
This week, freight rates for very large crude carriers (VLCCs) on the Gulf of Oman-to-China route surged to Worldscale 450 points (equivalent to 4.5 times the benchmark rate), translating to approximately $11.50 per barrel and setting a record high since the inception of this route. Meanwhile, ongoing military exchanges between the United States and Iran continue to constrain available shipping capacity in the Gulf, while VLCC freight rates on the West Africa-to-Asia route have also hit historic highs.
As net long positions in WTI crude oil hit a 20-week high, the Trump administration is considering invoking the Defense Production Act to expand refining capacity.
Executives at refining companies stated that new refineries require several years to become operational, leading them to prioritize improving the efficiency of existing facilities. Currently, the average price of diesel in the United States has surpassed $6 per gallon for the first time, while gasoline prices remain elevated, and refinery utilization rates have reached approximately 98%. According to data from the CFTC, as of the week ending September 8, net long positions in NYMEX WTI crude oil hit a 20-week high, and net long positions in gasoline reached a nine-month high.
TD Cowen Maintains Hold on ONEOK, Raises Price Target to $93
TD Cowen analyst Jason Gabelman maintains ONEOK (NYSE:OKE) with a Hold and raises the price target from $90 to $93.
Houthi forces have nearly complete control of the Bab el-Mandeb Strait! A dual blockade is strangling Saudi Arabia's export lifeline.
The Houthi forces have not only seized all strategic islands in the Red Sea but also paralyzed Saudi Arabia’s last crude oil export corridor. Can isolated Riyadh weather this shock?
IEA warns that the war in Iran has dragged oil demand to its largest post-pandemic decline, cautioning that further weakening is likely in the coming months.
The ongoing conflict in Iran continues to weigh on global oil demand, with this year's decline marking the largest since the onset of the pandemic, and further contraction is likely in the coming months.
Burnham to Delay Jackdaw Decision Until After October By-election - Telegraph
If You Invested $1000 In Marathon Petroleum Stock 15 Years Ago, You Would Have This Much Today
Marathon Petroleum (NYSE:MPC) has outperformed the market over the past 15 years by 10.04% on an annualized basis producing an average annual return of 23.02%. Currently, Marathon Petroleum has a
Houthi forces seized a key Red Sea port, escalating the conflict with Saudi Arabia, while reports emerged that Iran has resumed ballistic missile production, sending crude oil prices surging.
Officers of the Yemeni government forces stated that on Thursday, Houthi rebels captured Mokha, a strategic port city in Taiz Province in southwestern Yemen and a key location on the Red Sea. On the same day, the Houthis claimed that Saudi Arabia had launched 64 airstrikes across multiple locations in Yemen within a 24-hour period. They asserted that navigation in the Red Sea remains "unthreatened" and described their military operations as defensive. Shipping industry experts noted that the capture of Mokha allows the Houthis to advance further south, effectively achieving "near-total control" of the Bab el-Mandeb Strait. The loss of Mokha will "undoubtedly impact maritime security in the region."
Valero Energy Shares Up 2% After Key Trading Signal
Valero Energy Corporation (NYSE:VLO) experienced a significant Power Inflow alert, a key bullish indicator that is closely tracked by traders who value order flow analytics, specifically
Devon, Williams and Targa Lead New Top Picks at Stifel on Higher Commodity Prices, Tighter Supply
TC Energy, DT Midstream Raised at Morgan Stanley After Weakness in Gas Pipeline Stocks
Shell Energy North America Inks Agreement To Acquire 100% Stake In Hunlock Creek Generating In Pennsylvania; To Sell Stake In RISEC To Constellation Energy For $715M
Shell Energy North America (US), L.P. (SENA), a subsidiary of Shell plc (Shell), has signed two transactions as part of its ongoing management of its US power portfolio:The acquisition of 100%
Constellation Agrees To Acquire RISEC Holdings From Shell Energy North America For $715M
Acquisition to expand Constellation's ISO New England portfolio with 609 megawatts of flexible, dispatchable generation that supports regional grid reliabilityConstellation (NASDAQ:CEG) today
Australia Relaxes Previously Flagged Gas Reserve Rules for LNG Exporters
HSBC: Global commodities enter "super bull market" amid confluence of Iran war, Russia-Ukraine conflict, and El Niño
HSBC believes that the market has entered a phase of "super squeeze," with commodity prices likely to remain elevated for an extended period.
TotalEnergies Plans to Invest $10B in Angola, Fast-tracks Discovery to Produce First Oil
Stifel Reinstates Buy on Williams Companies, Announces $85 Price Target
Stifel analyst Robert Hodges reinstates Williams Companies (NYSE:WMB) with a Buy and announces $85 price target.
Energy Index ETFs have surged 48% year-to-date! U.S. energy stocks remain "cheap" despite the rally: sustained high oil prices could drive a valuation recovery.
The Energy Select Sector SPDR Fund, an ETF tracking U.S. energy stocks, has surged 483% year-to-date, significantly outperforming all other S&P 500 sectors. Despite this rally, the energy sector remains one of the lowest-valued segments within the S&P 500. While elevated oil prices have generated excess profits for energy companies, Wall Street previously viewed this earnings growth as transient. However, if high oil prices persist longer than expected, the valuation re-rating of energy stocks may only just be beginning.
If You Invested $100 In Valero Energy Stock 20 Years Ago, You Would Have This Much Today
Valero Energy (NYSE:VLO) has outperformed the market over the past 20 years by 1.39% on an annualized basis producing an average annual return of 10.55%. Currently, Valero Energy has a market
U.S. Federal Court Overturns Key New Jersey Permit for Williams' NESE Gas Pipeline