Iran's invite: A stalemate breaker or another stonewall?

Joseph Lazzaro — Tue, 26 Jun 2007 15:00:00 EST

Filed under: International Markets, Exxon Mobil (XOM), Middle East, Chevron Corp (CVX), ConocoPhillips (COP), Commodities, Oil

It's an invitation that may sway some to think that Iran is cooperating regarding its nuclear program...or it may represent just another delay tactic by Iran toward the international community.

Iran Monday invited the International Atomic Energy Agency [IAEA] to work jointly on a plan to dispel concerns regarding the nation's nuclear program.

Iran maintains that it's moving forward with its nuclear program to meet the nation's energy needs, and says it will use nuclear technology for peaceful purposes only. IAEA, the United States, the U.K., France, and Germany are concerned that Iran will use the nuclear technology for military purposes. Uranium is a required ingredient for both civilian nuclear power and nuclear bombs/warheads.

Continue reading Iran's invite: A stalemate breaker or another stonewall?

Iran's invite: A stalemate breaker or another stonewall? originally appeared on BloggingStocks on Tue, 26 Jun 2007 15:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Exxon Mobil benefits from bull market in oil

Michael Fowlkes — Thu, 14 Jun 2007 18:40:00 EST

Filed under: Major Movement, Exxon Mobil (XOM), Middle East, Chevron Corp (CVX), ConocoPhillips (COP), BP p.l.c. ADS (BP), Oil

It was another record setting day for Exxon Mobil (NYSE: XOM) with the stock hitting a new record high in today's market. The stock traded as high as $84.97 before closing out the session up 1.7% to $84.77.

The stock benefited today from strong moves in oil prices, which closed up $1.44 to $67.70, and look to be back on their way to the $70 mark. Oil traders are continuing to push prices higher as gasoline supplies remain a concern after this week's bearish report from the Energy Information Administration and statements out of OPEC countries that production would not be altered ahead of its next meeting, which isn't scheduled until September.

I wouldn't be too surprised to see another strong day for oil stocks tomorrow to close out the week. Right now there are some pretty bullish factors working in the favor of oil. As we have been discussing a lot here lately, there is the continued pessimism over the ability for American refineries to match demand this summer for gasoline. This has already had the impact of lifting gasoline prices to record highs, and as this weeks inventory report showed refineries are still struggling. We also have to contend with increasing violence in the Gaza strip, and a battle of words between Iran and the West.

Troubles between Hamas and rival Palestinian group Fatah have created a state of emergency in that region, and although they are not major players in the oil game, any violence in the region has the potential of spilling over into larger problems. After 6 long bloody days of battle, the end is still not in sight. The Palestinian Authority President Mahmoud Abbas has now dismissed the government and declared a state of emergency.

Continue reading Exxon Mobil benefits from bull market in oil

Exxon Mobil benefits from bull market in oil originally appeared on BloggingStocks on Thu, 14 Jun 2007 18:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments