Trading oil often requires a high level trading account in either the futures market or with a commodity trading firm. There are a few stock sectors that move in reaction to oil prices. Trading these stocks, in many cases, is just as good as trading oil itself. Read more…
ExxonMobil is the world’s largest publicly traded oil company. They have said that their second-quarter profit fell 1% from a year ago due to lower natural gas prices. However, their net income of $10.26 billion was the fourth-largest quarterly profit ever recorded by a publicly traded U.S. company. Read more…
This past week we have been getting earnings from oil companies. Some are great others are so so, but here is a list of what is in thus far. Read more…
Chevron (CVX - 61.02) is reporting a $4 billion dollar first quarter profit, Exxon Mobil (XOM - 63.08) $8.4 billion, and ConocoPhillips (COP - 66.90 ) $3.29 billion. This past week these companies have been releasing their first quarter reports and many people are starting to wonder about these companies and the high oil (72)prices. I imagine the public and several politicians will be putting pressure on these companies looking for answers. Read more…