The price of corn is heading higher thanks to record heat, lower production estimates and record ethanol production.
The headlines are clear: Oil will never be able to pull out of this bear market. But there are some bullish investors in the market.
Oil exploration companies are getting pounded by lower oil prices. However, this area of the oil industry is making money.
U.S. net petroleum imports fell under 4 million barrels per day in April and again in May. That’s the lowest point since we began keeping records in 1991.
Back on April 21, I told readers of Winning Investor Daily that rising natural gas prices couldn’t last. I was a little early, but the trend finally turned.
Engineers didn’t believe fracking would work on oil strata. Fortunately, American petroleum engineers made the leap, and U.S. oil production soared.
As oil prices fall, oil traders can be forced to sell stocks to cover their losses. If enough traders sell, markets suffer as traders surrender.
The critical moment for oil will be the announcement after OPEC’s meeting. If OPEC doesn’t reach a deal — a real possibility — then oil prices will plummet.
The seeds are being sown for an offshore oil revival. In essence, the idea is to automate as much as possible and cut out as much human labor as possible.