So far in 2013, commodity markets have had a troublesome year, with many analysts speculating that the epic commodity boom seen in recent years is finally over. On the equity side, however, major commodity producers have benefited from this year’s bull run, logging in double- and triple-digit gains. Oil and gas producers in particular continue to come out on top, while precious and industrial metal miners struggle to stay out of the red. But on this Thanksgiving Day, it is perhaps most appropriate for us to reflect on those commodity producers we’re particularly grateful for [for more commodity news and analysis subscribe to our free newsletter].
As earnings season gets into full swing, Wall Street’s attention will be fixated on the results of the most recent quarter. This week sees big oil step up to the plate, with some of the biggest names in the industry reporting on how they fared over the past three months. Below, we preview some of the most significant commodity earnings from the week ahead, helping investors prepare for what will ultimately be an active five day stretch for markets:
Bullish euphoria seems to have evaporated over the past week as profit-taking pressures have once again swept over Wall Street in light of the potential Fed taper coming up in September’s FOMC meeting. With Treasury yield on the rise again, many are locking in profits on the equity front; however, a surprise decision from the Fed to hold off from tapering entirely this time around has the potential to ignite a furious rally that will catch most off guard [for more commodity futures news and analysis subscribe to our free newsletter].
When it comes to commodity production, Mexican oil is perhaps not what first comes to mind. Currently, the country produces roughly 2.55 million barrels of crude a day; compared to the U.S.’s production of over 7 million barrels per day, Mexico’s capabilities seem rather limited. Recent legislation, however, has created the potential for more oil companies to gain access to some of the world’s largest remaining untapped oil reserves [for more oil news and analysis subscribe to our free newsletter].
Energy extraction techniques have become exponentially more efficient and effective since our first attempts to harness the elements in our favor. Unfortunately, our advances in pulling energy from the earth are still being outpaced by consumption demands. With a rising number of emerging markets seeing economies expand rapidly, energy consumption is at an all time high with no signs of slowing. On the search for the next great energy source to meet this demand, scientists in the Arctic Circle think they have found a strong candidate [for more commodity news and analysis subscribe to our free newsletter].
As earnings season draws to a close, the commodity world will see, arguably, its most publicized week. The next five days will feature earnings from some of the biggest oil firms in the world, with a few other companies sprinkled in. Investors will be especially keen to see how the recent spike in oil prices has impacted these major producers. Below, we outline some of the most prominent commodity firms slated to report earnings this week [for more commodity news and analysis subscribe to our free newsletter].
One of the most talked-about global trends in recent years has been the rapid growth in population. As emerging markets around the world enter periods of robust growth, their populations have also been on the rise. Though a growing worldwide population will certainly cause a number of issues, it will also present commodity investors with a fair amount of opportunities, as some hard assets represent a great way to profit from the current trend [for more commodity news and analysis subscribe to our free newsletter].
Crude oil has been among the worst-performing commodities this year as hefty production has combined with a number of other factors to send the fossil fuel lower. That being said, a number of bellwether oil firms will be detailing their most recent quarter’s earnings this week, as investors are anxious to see how lower prices have impacted bottom-line returns. Below, we outline five of the biggest oil firms to report earnings this week, and commodity investors should watch them closely [for more oil news and analysis subscribe to our free newsletter].
The U.S. has long dominated crude oil consumption around the world, as the insatiable need for the fossil fuel has long powered the economy. According to EIA estimates, the U.S. gobbles up around 18.9 million barrels of oil each day, or about 7 billion per year, the highest such figures in the world. While the nation may be close to supporting itself in terms of domestic oil production, it still will not change the fact that the U.S. relies more heavily on crude than any other country in the world [for more oil news subscribe to our free newsletter].