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Brent crude , the international benchmark for oil, settled up 49 cents, or about 1 percent, at $48.91 per barrel. U.S. West Texas Intermediate (WTI) crude futures settled up 46 cents, or 1 percent, at $46.54 per barrel. U.S. crude rose more than 5.2 percent for the week while Brent rose more than 4.7 percent. "I think the big driver is inventory numbers," said Stewart Glickman, head of energy research at CFRA Research in New York, "We've finally broken below 500 million barrels, I feel like it's a psychological barrier." U.S. crude inventories fell 7.6 million barrels last week, its biggest weekly plunge in 10 months, the U.S. Energy Information Administration (EIA) said on Wednesday.
ETE started at buy with $20 stock price target at Stifel today.
A few weeks back, I posted a comment questioning when the often-cited lack of investment in new oil supply would finally bite, and drive energy prices substantially higher. The notion is, that, due to low commodity prices, upstream energy explorers and producers have been cutting back on the development of new wells. In fact, there has been a massive UNDERinvestment in new oil and gas supplies for almost 3 years now. What does this mean?
It means that, as current oil and wells are depleted (at the rate of 4 million barrels a years) and as oil and gas consumption continues to rise (say, at 2 million barrels a day, or 2%), we will find ourselves in a massive shortage of oil and gas in the fairly near future -- unless we find 6 million barrels a day of new supply.
No one is investing in finding or producing that new supply.
It may be that, if the Arabs and the shale guys put pedal to the metal, they might be able to meet worldwide demand -- for a period of time, that is. But with development budgets slashed, and new production thereby contrained, how long before we have an acute shortage? Remember, we need 6 million barrels of new production to tread water!
Shale wells deplete at a faster rate than conventional oil fields. Conventional oil fields are not being replaced, take considerably longer to bring on line -- not to mention the fact that they COST substantially more.
Very interesting article on Bloomberg this morning:
Something's gotta give. Long ETE, EPD, MMP, KMI ... and HAL, which is uniquely well positioned, I hear, to benefit from a rapid uptick in new shale production.
Oil Fields Pumping a Third of Supply Die Fastest in 24 Years
The tussle for supremacy between OPEC and U.S. shale drillers is killing off older oil fields at the fastest pace in almost a quarter century. That could hurt the industry once the current glut has faded.
Senator Debbie Stabenow.... "Stop the pipeline in Michigan, The Children, My God the Children"
Insider Buy Kelcy Warren
It looks like KW bot a million shares of ETP today @ 20.33. Very nice.
ETP - Energy Transfer Partners, L.P. - SEC Form 4 Insider Trading Screener - OpenInsider
Insider trades for Energy Transfer Partners, L.P. (ETP). Monitor SEC Form 4 Insider Trading Filings for Insider Buying and Selling. Real-time Insider Trading Stock Screener. Long and Short Trading Ideas using Insider Transaction Data.
check out KTOS. hot stock
Someone call the NYFD. This stock is smoking hot!
Where's Bay Area? How's that short going for you?
Why up so much the past two days?
Kept reading about the massive underinvestment in new production, due to these low commodity price; and that demand growth (even at a tepid rates of 1 or 2 percent) and well depletion (at around 4 million barrels a year) would soon turn the tide and result in a supply shortage.
OUCH!! Owning this stock is painful
I found this to be very interesting - even the wind power generators are not completely innocent of asking FERC for leniency in regulations...
How Calculating FERC’s 1-Mile Rule Could Affect Renewable Energy Projects
Energy experts at Bracewell LLP explain how a pending wind farm application could influence how renewable projects are developed under PURPA.
Hola #$%$ bubble buyers. This manipulated stock will be under 10 soon
Kept reading articles on the massive underinvestment in new supply, due to these persistent low como
I bought this stock at $4 and some change then sold at $17 plus dollars. plenty of room to go down but is a good company. just gotta ride the waves
This is the real reason we’re ‘drowning in oil,’ says Ed Yardeni
Yardeni Research’s Ed Yardeni explains what he believes is the real reason the world is suffering from a glut of oil
Stock split-This stock split 2:1 in mid 2015 and early 2014. It's just a matter of short time that this upward trajectory will continue with all the new pipeline build activity. It will go up fast when it starts going up so don't be tempted to sell when that starts to happen. Best wishes all.