From the category archives:
I’ve been talking recently about how the credit crunch may slow project development in both energy and gold. Here are two examples …
Credit Crisis May Block, Delay 20% of Deepwater Rigs, Slow Petrobras Boom As many as 20 of the 100 deepwater oil rigs on order worldwide may be delayed or canceled as [...]
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I’m Dreaming of a Blue Christmas … Source: Calculatedrisk.blogspot.com
From the LA Times… Retailers cutting back on holiday hiring
A recent survey of more than 1,000 managers responsible for hiring hourly workers found that each manager planned on hiring an average of 3.7 seasonal employees this year, roughly 33% less than the 5.6 [...]
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Dr. Jeff Masters gives us the latest on monster hurricane Ike …
Ike’s long-term fate has two main possibilities:
1) Ike may hit eastern Cuba, as forecast by the latest (12Z, 8am EDT) runs of the GFDL and ECMWF models, and a number of ensemble members of the latest 12Z GFS model (Figure [...]
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Hurricane Ike went from a tropical storm to a category 4 monster storm in a matter of hours. You can officially start freaking out now. Here is some other news …
ENERGY
Crude Oil Rises as Hurricane Ike Strengthens in Atlantic, Dollar Declines Crude oil rose for the first time in five days [...]
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I exited a bullish oil position in Red-Hot Commodity ETFs yesterday because of oil’s lackluster response to Hurricane Gustav. It turns out some traders with long ears may have already heard about the bearish product demand that came out after the market closed yesterday. In short, oil product demand dropped 5.6% in June, more [...]
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Waiting for Gustav Hurricane Gustav grew stronger as it moved on a path projected to take it over Haiti on Tuesday and just south of Cuba on Wednesday, according to the National Hurricane Center. Forecasters say they believe Gustav will strengthen into a “major hurricane” and move into the central Gulf of [...]
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Gold futures climb to two-and-a-half-month high Gold has seen “increased support as a safe haven investment during these uncertain economic times,” Beahm said in emailed comments. “Coming off their worst June since the 1930s, the financial markets are just too volatile right now for many investors to feel confident.”
Mining, fertilizers [...]
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Chart of the Freakin’ Day …
Source: The Oil Drum EuropeMexico is the world’s No. 6 oil producer and a key U.S. crude supplier but Pemex’s oil output has declined this year due to waning yields at the aging Cantarell oil field and technical problems at wells in recent weeks.
The sheer hypocrisy [...]
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All CNBC can talk about this morning is Lehman Brothers. How many people does that effect? Meanwhile, oil is not pulling back much from its biggest one-day surge EVER on Friday. Don’t you think that deserves more headline time? The average price of a gallon of gasoline in the United States hit $4 for the [...]
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“For a Fistful of Silver” was my original name for today’s MoneyandMarkets.com column. My editors replaced that with “Finding Attractive Mexican Miners,” which sounded to me more like a Craiglist personal ad than a financial piece.
We were able to compromise on “Once Upon a Time in Mexico.” I can live with that.
Once [...]
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