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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.


Seeking Alpha

Sunday, February 21, 2016

The Oil Run is Done

oil
The latest oil run higher was stymied Thursday by a surprising build in crude oil inventory and a fading OPEC production cut fantasy. Oil prices had benefited this week from a promised freeze by OPEC & non-OPEC producers and on cooperative statements from Iran. Then a preliminary reading of oil inventory showed a draw before Thursday’s more complete EIA data revealed a another build in crude stocks. The news effectively stopped the nascent oil price run in its tracks, and now that hope is fading for an OPEC production cut, oil prices should again sink toward last week’s lows. See more on this oil report here.

Energy Relative Shares
02-19-16 AM Indication
SPDR S&P 500 (NYSE: SPY)
-0.4%
United States Oil (NYSE: USO)
-1.6%
Energy Select Sector SPDR (NYSE: XLE)
-1.1%
SPDR S&P Oil & Gas E&P (NYSE: XOP)
-2.2%
Market Vectors Oil Services (NYSE: OIH)
-0.3%
Exxon Mobil (NYSE: XOM)
-0.9%
Chevron (NYSE: CVX)
-1.0%
B.P. (NYSE: BP)
-1.2%
Valero Energy (NYSE: VLO)
-1.0%
Phillips 66 (NYSE: PSX)
-0.2%
Antero Resources (NYSE: AR)
-1.7%
EQT Corporation (NYSE: EQT)
-2.3%
Baker Hughes (NYSE: BHI)
-1.0%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Article interests energy investors including Exxon Mobil (NYSE: XOM), BP (NYSE: BP), PetroChina (NYSE: PTR), Petrobras (NYSE: PZE), Royal Dutch Shell (OTC: RYDAF.PK), Total (NYSE: TOT), Chevron (NYSE: CVX), Repsol (OTC: REPYY.PK), ConocoPhillips (NYSE: COP), Eni SpA (NYSE: E), Sasol (NYSE: SSL), Encana (NYSE: ECA), Suncor (NYSE: SU), Imperial Oil (AMEX: IMO), Statoil (NYSE: STO), Cenovus (NYSE: CVE), Transocean (NYSE: RIG), Penn West Petroleum (NYSE: PWE), Continental Resources (NYSE: CLR), Noble (NYSE: NE), Concho (NYSE: CXO), Diamond Offshore (NYSE: DO), Ensco (NYSE: ESV), Whiting Petroleum (NYSE: WLL), Nabors (NYSE: NBR), Pride International (NYSE: PDE), Helmerich & Payne (NYSE: HP), QEP Resources (NYSE: QEP), Enerplus (NYSE: ERF), Rowan (NYSE: RDC), Cobalt (NYSE: CIE), Patterson UTI (Nasdaq: PTEN), SandRidge (NYSE: SD), Schlumberger (NYSE: SLB), Halliburton (NYSE: HAL), National Oilwell Varco (NYSE: NOV), Baker Hughes (NYSE: BHI), Weatherford International (NYSE: WFT), Cameron (NYSE: CAM), FMC Tech (NYSE: FTI), Oil States International (NYSE: OIS), Superior Energy (NYSE: SPN), Carbo Ceramics (NYSE: CRR), Helix Energy (NYSE: HLX), Pioneer (NYSE: PXD), CNOOC (NYSE: CEO), China Petroleum and Chemical (NYSE: SNP), Ecopetrol (NYSE: EC), Canadian Natural Resources (NYSE: CNQ), Apache (NYSE: APA), Anadarko (NYSE: APC), Devon (NYSE: DVN), EOG (NYSE: EOG), Chesapeake (NYSE: CHK).

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