I don't think that caused the increase.
The last line of the story reads, and I quote "Companies have called on temporary replacement workers to keep plants running at nearly normal levels."
It's interesting, with such a glut of oil, gas where I live, just went up 30 cents on the gallon at the pump.
market is flashing warning signs that vital Oklahoma storage tanks will fill up even sooner than expected...
While benchmark U.S. crude oil futures CLc1 still appear to be holding firm after trading at around $50 a barrel for the past month or so, the spread between first- and second-month oil futures collapsed last week, with prompt prices diving by more than $1 to their deepest discount in four years.
Shorthanded as "JK" in market jargon, U.S. West Texas Intermediate for April delivery (known as "J") were $2.38 a barrel cheaper than those for May ("K") on Friday, a gap that likely signals the early onset of another milestone in the great oil supply glut, running out of space in Cushing, Oklahoma, delivery point for the New York Mercantile Exchange contract.
This comes as US production hits record highs and vital Oklahoma storage tanks will fill up even sooner than expected, driving the "JK" spread above $2.50 (April delivery drastically cheaper than May). As on analysts noted, as "Cushing continues to fill massively, we could see a '3' handle on WTI."
Following a guy w/ proprietary algo "Z"model, he shows low in oil this Wed-Thurs fwiw
Plenty of storage available in the gulf. Strong dollar has a lot to do with the pricing as well. You two financial wizards must not have read the article in Market Watch this week!
Yes relative to the dividend. If the stock price drops the dividend yield goes up which attracts more buyers and keeps a floor under it.
As long as the dividend remains unchanged the downside is fairly limited from here.
If a real panic set in over oil prices that they would remain very low over the next 5 to 10 years then people might assume the dividend could be in trouble and you might see 50's or even 40's.
But I don't see anyone, anywhere predicting that kind of long term decline. Also considering the capital cuts of the major oil companies, they aren't going to increase capacity without demand.
If you buy at $30 you will have no worries. I would like to offer $30 to anyone wishing to sell today. Will take all you want to unload !
OK, but how do I get rid of your TROJAN VIRUS that attacks the Brokerage Account?
Considering COP hasn't lowered their dividend even once since it began trading in 1981, and has steadily increased it since that time.............
I think the dividend is safe.
They will do whatever it takes to protect it, that i am sure of.
Can you stomach the truth? Few can boast the awesome track record of Ultimate Stock
Alerts (look them up in google)